Oil & Gas Seals Market to grow beyond US$ 1,801.5 million by 2025
February 19, 2020
Oil & Gas Seals Market Overview:
The global oil & gas seals market is projected to offer healthy growth opportunities in the entire ecosystem of the market. The market is estimated to grow at a healthy rate over the next five years to reach US$ 1,801.5 million in 2025. Increasing oil & gas demand, recovering crude oil prices, increasing well-drilling activities, careen recovery in worldwide rig counts, and advancements in sealing products to meet challenging environments are some key factors that drive the demand for seals in the oil & gas industry.
Report Overview:
This report, from Stratview Research, is another flagship research report in the seals family. After publishing several reports on seals, such as aircraft seals market, pipe seals market, and medical/life science seals market, Stratview Research has come up with another exclusive market report on the oil & gas seals market. Oil & Gas Seals Market report provides the thoroughgoing market analysis by providing the 12-year analysis (trend period: 2014-2019 and forecast period: 2020-2025) at the global, regional, and country-level. Also, the report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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https://www.stratviewresearch.com/Request-Sample/646/oil-and-gas-seals-market.html
Oil & Gas Seals Market Segment Insights:
O-rings: The growth engine
Based on the product type, the market is segmented as O-rings, U-cup seals, back-up rings, spring energized seals, and others. O-ring is expected to remain the largest segment of the market during the forecast period. O-rings are the most popular seal type and are preferred in many applications. These seals are simple to install and require less installation space.
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https://www.stratviewresearch.com/toc/646/oil-and-gas-seals-market.html
Dominance of: The Production Application
Based on the application type, the market is segmented as drilling, completion, production, and distribution & refinery. Production is expected to remain the largest segment of the oil & gas seals market during the forecast period, propelled by 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.
A highly/moderately/fragment consolidated Market
The supply chain of this market comprises raw material suppliers, oil & gas seals manufacturers, distributors, component manufacturers, and end users. The key oil & gas seals manufacturers are EnPro Industries, Inc., Fredenburg Group, Flowserve Corporation, John Crane, Inc., M.Barnwell Services Limited, Green Tweed & Co., CDI Energy Products, Parker Hannifin Corporation, Precision Polymer Engineering, Saint-Gobain S.A., and Trelleborg AB. Development of extrusion-resistant and high-pressure and high-temperature-resistant seals, building excellent distribution networks especially in untapped markets, and formation of strategic alliances are the key strategies adopted by the key players to gain a competitive edge in the market.
Regional Hegemony of North America
North America is projected to remain the largest market during the forecast period, whereas Asia-Pacific is expected to remain the fastest-growing market during the same period. The USA is likely to remain the largest market in North America as well as the global marketplace, whereas China is set to remain the fastest-growing market worldwide in years to come.
Click here for other high value market reports from Stratview Research in the Oil & Gas Industry: https://www.stratviewresearch.com/market-reports/Oil-Gas.html
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