Rapid industrialization has ushered the huge need for industrial equipment, creating a high demand for industrial machinery seals. The COVID-19 pandemic frazzled the market for industrial machinery seals in 2020, causing major disruption and significant losses for the shareholders. The industrial machinery seals market recorded a massive decline of nearly 18% in 2020.
The long-term interpretations still seem fruitful with large-scale usage of seals in various equipment, such as hydraulic cylinders, pumps, valves, and machines, among others. The healthy growth of the industrial equipment market is likely to boost the market for seals as well. The industrial machinery seals market is expected to grow at a modest CAGR of 3.8% during the forecast period to reach a value of US$ 8.4 Billion in 2027.
Our Clients
WE ACCEPT
