Gaskets Market is Forecasted to Reach US$ 10.8 billion in 2027, Says Stratview Research

The global gaskets market is projected to witness a growth rate of 3.9% annually from 2022 to 2027, with an anticipated size of US$ 10.8 billion by 2027, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global gaskets market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2027: US$ 10.8 billion
Growth (CAGR): 3.9% during 2022-2027
Forecast Period: 2022-2027
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 2
Number of Tables & Graphs: 100+

Segment Insights on the Gaskets Market:

The global gaskets market is segmented based on end-use industry type, and region.

Based on end-use industry type - The gaskets market is segmented into transportation, processing, electrical & electronics, mobile machinery, manufacturing tools, energy & power, and others. Transportation held a market share of >40% in 2021, whereas electrical & electronics is expected to be the fastest-growing segment of the market during the forecast period. There is a considerable demand for seals in the transportation sector due to the increasing production of automobiles, growing aircraft fleets, and rising demand for mobility. Because of the significant rise in the demand for advanced gadgets and consumer electronics, electrical & electronics is expected to be the fastest-growing segment over the forecast period.

To know the most attractive segments, visit:
https://stratviewresearch.com/2917/gaskets-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

Asia-Pacific accounted for >45% of the market share in 2021 & is expected to remain the largest as well as the fastest-growing market during the forecast period. Various factors such as the fast recovery of the economy, growing population, and increasing business investments are some of the factors driving the market in Asia-Pacific. Most gasket suppliers have their presence in the region to address the emergent needs of various end-use sectors. The region's dominance is also led by massive construction, mining, food & beverage, and pharmaceutical industries.

Gaskets Market Drivers:
Some of the key drivers listed in the report are given below.
• Increasing demand from various end-use industries. As these industries continue to expand, the demand for gaskets also grows, driving the market forward.
• Gaskets play an important role in sealing systems and preventing energy loss. As a result, there is a growing demand for energy-efficient applications.
• Advancements in technology have led to the development of new materials that offer superior performance and durability. These new materials are expanding the range of applications where they can be used.
• The demand grows as developing countries continue to industrialize and expand their manufacturing sectors, this is particularly true in regions such as Asia-Pacific, where there is a growing demand for gaskets in automotive, aerospace, and other industries.

Top Companies in the Gaskets Market:
Stratview Research has identified the following companies as the top market players.
• Dana Incorporation
• ElringKlinger AG
• EnPro Industries
• Flowserve Corporation
• Freudenberg Group
• James Walker & Co.
• Parker-Hannifin Corporation
• Tenneco (Federal-Mogul)
• Trelleborg AB
• Uchiyama Group
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Gaskets Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Explore more reports here:

• Bearings Market: https://stratviewresearch.com/1379/bearings-market.html

• Industrial Hose Market: https://stratviewresearch.com/3683/industrial-hose-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.