Mechanical seals market expects biggest growth in the Americas
A new report on the mechanical seals market suggests the highest growth is expected in the Americas.
The analysis, compiled by Future Marketing Insights, suggests the demand for mechanical seals in the Middle East and Africa will remain stable, while the Asia-Pacific region (with the exception of Japan) is expected to offer growth opportunities in the forecast period (2016-2026).
New oil and gas exploration opportunities, coupled with substantial investment in refineries and pipelines, are a key factor escalating the growth of the mechanical seals market across the globe.
The biggest restraint on the market identified by the report comes from competing methods of sealing leakages. Mechanical packaging is starting to eat into the revenue of the mechanical seals market, while an increase of electronic seals in automated manufacturing units is another factor which could hinder growth.
In the report, mechanical seals are defined as those leakage control devices which are deployed on rotating equipment like mixers and pumps to avoid the leakage of liquid and gases escaping into the environment.
Prior to mechanical seals, mechanical packaging was the most popular means of leak prevention, but it is often regarded as ineffective compared to mechanical seals.
The report, titled: ‘Mechanical Seals Market Volume Analysis, Segments, Value Share and Key Trends 2016-2026’, segments the global mechanical seals market on the basis of type, end use and geography.