Press release
Oil & Gas Seals Market is Forecasted to Reach US$ 4.4 billion in 2027, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm has launched a report on the global Oil & Gas Seals 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: https://www.stratviewresearch.com/Request-Sample/646/oil-and-gas-seals-market.html#form
Report Highlights: `
Market Size in 2027: US$ 4.4 billion
Growth (CAGR): 7.8% during 2022-2027
Forecast Period: 2022-2027
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 6
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Oil & Gas Seals Market:
The global Oil & Gas Seals Market is segmented Shore Type, Application Type, Product Type, Material Type, Motion Type & Region
Based on the shore type: The oil & gas seals market is segmented as offshore and onshore. Offshore is expected to remain the larger and faster-growing segment of the market during the forecast period, owing to the increasing offshore oil & gas production, surge in offshore rig counts, and large offshore oil production platforms, and FPSOs requiring a large number of seals.
Based on the application type: The market is segmented as drilling, completion, production, and distribution & refinery. Production is expected to remain the largest and fastest-growing segment of the oil & gas seals market during the forecast period. This growth can be attributed to the usage of seals in various application areas such as blow-out preventers (BOPs), connector seals, downhole and intervention tools, flow control equipment (ball valves and associated devices), FPSO swivels, gas lifts, and offshore topside hydraulics. All other application types are also estimated to generate sizeable growth opportunities in the coming five years.
Based on the product type: The market is segmented as O-rings, energized seals, U-cup seals, mechanical seals, backup rings, and others. Mechanical seals are expected to remain the most demanded product type in the market during the forecast period. Mechanical seals are widely used to prevent fluid leaks and contaminants out of the shaft in pumps, mixers, or agitators as they provide superior properties to other sealing products, making them suitable for critical sealing applications.
Based on the motion type: The market is segmented into static seals, linear seals, and rotary seals. Rotary seals are expected to remain the dominant category during the forecast period. The usage of rotary seals in equipment like pumps, mixers, rotary shafts, and various rotating equipment is to keep the lubricant within the system and prevent the ingress of external agents. These seals protect the bearing and other parts of the equipment.
To know the most attractive segments, click here for a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/646/oil-and-gas-seals-market.html#form
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis North America is expected to remain the largest region in the market for oil & gas seals during the forecast period. This growth outlook is majorly attributed to the following-
. The USA is expected to remain the largest market in North America as well as in the global market place as it is the largest producer of shell gas & oil and has a large number of onshore and offshore oil production projects, whereas China is likely to remain the fastest-growing market globally in the coming years due to an increase in the number of oil & gas rigs and the opening of new production platforms.
Oil & Gas Seals Market Drivers:
The growth of the Oil & Gas Seals Market is driven by several factors.
• Growth is likely to be driven by the increasing oil & gas demand, increasing well-drilling activities, speedy recovery in worldwide rig counts, and advancements in sealing products to meet the challenging environments.
Top 10 Companies in the Oil & Gas Seals Market:
Stratview Research has identified the following companies as the top market players:
• EnPro Industries Inc.
• Freudenberg Sealing Technologies
• Flowserve Corporation
• John Crane Inc.
• M. Barnwell Services Limited
• Greene, Tweed & Co.
• CDI Energy Products
• Parker-Hannifin Corporation
• Precision Polymer Engineering
• Saint-Gobain
• Trelleborg Sealing Solutions
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Oil & Gas Seals 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
Related Reports:
• Offshore Drilling Rigs Market: https://www.stratviewresearch.com/1275/offshore-drilling-rigs-market.html
• O-Rings Market: https://www.stratviewresearch.com/2951/o-rings-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.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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