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Aug 20, 2023

Global O-ring Seals Market

Dublin, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The "Global O-ring Seals Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global O-ring seals market achieved a valuation of USD 14.49 billion in 2022, and it is projected to grow at a CAGR of 3.4% from 2023 to 2028, reaching a value of USD 17.89 billion. O-ring seals find extensive usage in both static and dynamic applications, offering a cost-effective and reliable sealing solution across various industries.

Driving Factors

The increasing adoption of O-ring seals across industries like automotive, aerospace, and oil and gas is fueling the market growth. In the aerospace sector, O-ring seals are widely used in hydraulic systems, fuel systems, and engine components, driving their demand. The oil and gas industry relies heavily on these seals for applications like drilling equipment, valves, and pumps.

Moreover, the market is being propelled by the global focus on energy efficiency and environmental sustainability. Governments and regulatory bodies worldwide are imposing stringent emission norms and environmental regulations, pushing industries to adopt energy-efficient and eco-friendly technologies. O-ring seals play a critical role in ensuring the proper functioning and sealing of such technologies, leading to an increased demand.

Additionally, the growing popularity of electric vehicles is creating new opportunities for the O-ring seals market. As the automotive industry transitions towards electric mobility, the demand for O-ring seals in electrical and electronic products is expected to witness significant growth.

Market Segmentation

The market can be categorized based on type, application, and region. Types of O-ring seals include synthetic rubber and thermoplastic elastomer. Applications of O-ring seals encompass electrical and electronic products, aerospace equipment, energy, food and beverages, healthcare and medical, automotive and transportation, machinery manufacturing, and others.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Competitive Landscape

In the competitive landscape, the report evaluates market shares, plant turnarounds, capacities, investments, and acquisitions and mergers among major O-ring seals companies. Some of the key players include:

NOK Corporation

Freudenberg Sealing Technologies GmbH

Parker-Hannifin Corporation

Trelleborg Sealing Solutions

AB SKF

Others

The market is highly competitive, with key players striving to innovate and improve their products to meet the evolving needs of industries and regulatory standards.

Key Attributes

Report Attribute

Details

No. of Pages

117

Forecast Period

2023-2028

Estimated Market Value (USD) in 2023

$15.15 Billion

Forecasted Market Value (USD) by 2028

$17.89 Billion

Compound Annual Growth Rate

3.4%

Regions Covered

Global

Key Topics Covered1 Preface2 Report Coverage - Key Segmentation and Scope3 Report Description4 Key Assumptions5 Executive Summary6 Market Snapshot7 Opportunities and Challenges in the Market8 Global O-ring Seals Market Analysis9 North America O-ring Seals Market Analysis10 Europe O-ring Seals Market Analysis11 Asia Pacific O-ring Seals Market Analysis12 Latin America O-ring Seals Market Analysis13 Middle East and Africa O-ring Seals Market Analysis14 Market Dynamics15 Competitive Landscape16 Key Trends and Developments in the Market

For more information about this report visit https://www.researchandmarkets.com/r/8hbe0l

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Global O-ring Seals Market