UK markets closed
  • NIKKEI 225

    28,635.21
    +89.03 (+0.31%)
     
  • HANG SENG

    29,297.53
    -93.73 (-0.32%)
     
  • CRUDE OIL

    52.61
    0.00 (0.00%)
     
  • GOLD FUTURES

    1,839.10
    -11.80 (-0.64%)
     
  • DOW

    30,288.28
    -648.76 (-2.10%)
     
  • BTC-GBP

    22,981.14
    -649.80 (-2.75%)
     
  • CMC Crypto 200

    631.79
    -8.13 (-1.27%)
     
  • ^IXIC

    13,220.07
    -406.00 (-2.98%)
     
  • ^FTAS

    3,716.37
    -45.27 (-1.20%)
     

Power Transmission Seals Market 2020 Global Share, Growth, Size, Opportunities, Trends, Regional Overview, Leading Company Analysis, Covid-19 Impact Analysis on Key Country Forecast To 2024 | Technavio

·4-min read

The new power transmission seals market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201127005192/en/

Technavio has announced its latest market research report titled Global Power Transmission Seals Market 2020-2024 (Graphic: Business Wire)

Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the power transmission seals market.

Get FREE report sample within MINUTES

"One of the primary growth drivers for this market is the Rising Demand for Power Transmission Seals in Heavy Vehicles and Machinery," says a senior analyst for the Industrials industry at Technavio.

Power transmission seals offer complete power transfer from one process to another by providing proper lubrication to the equipment. These seals are needed for heavy vehicles and heavy machinery due to the provision of increased protection from extreme conditions such as temperature and pressure changes. Moreover, power transmission seals allow high torque into engines or heavy machines and protect engines against leakage by reversing the direction of power flow and enabling equal power distribution. The rising demand for heavy vehicles and machinery will increase the need for power transmission seals during the forecast period. Our market research analysts predict that this market will grow during 2020-2024.

As the markets recover Technavio expects the power transmission seals market size to grow by USD 457.61 million during the period 2020-2024.

Power Transmission Seals Market Segment Highlights for 2020

  • The power transmission seals market is expected to post a year-over-year growth rate of -6.00%.

  • Radial shaft seals, which are also known as lip seals, are used to seal rotary elements, such as a shaft or rotating bore. Radial shaft seals are used in most of the end-user industries as they are easy to install.

  • Therefore, the power transmission seals market share growth by the radial shaft seals segment will be significant during the forecast period.

Regional Analysis

  • 52% of the growth will originate from the APAC region.

  • Factors such as the rise in construction and engineering activities will significantly drive power transmission seals market growth in this region over the forecast period.

  • China is a key market for power transmission seals in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Related Reports on Industrials Include:

Global Power Transmission Lines and Towers Market: The power transmission lines and towers market size has the potential to grow by USD 8.88 bn during 2020-2024, and the market's growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!

Global Hydrostatic Transmission Market: The hydrostatic transmission market size has the potential to grow by USD 606.73 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!

Notes:

  • The power transmission seals market size is expected to accelerate at a CAGR of about 2% during the forecast period.

  • The power transmission seals market is segmented by Product (Radial shaft seals, Axial clamp seals, Metal face seals, Cassette seals, and Others), Geography (APAC, Europe, North America, MEA, and South America), and End-user (heavy industry, automotive industry, machine tools industry, and others).

  • The market is fragmented due to the presence of many established vendors holding significant market share.

  • The research report offers information on several market vendors, including A.W. Chesterton Co., AB SKF, American High Performance Seals Inc., EagleBurgmann Germany GmbH & Co. KG, EnPro Industries Inc., Freudenberg SE, James Walker Group Ltd., LATTY International S.A., Parker Hannifin Corp., and Trelleborg AB

Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201127005192/en/

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/