Technavio has been monitoring the rotary seals market and it is poised to grow by USD 1.88 billion during 2020-2024, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Rotary Seals Market 2020-2024 (Graphic: Business Wire)
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. We offer $1000 worth of FREE customization
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. A.W. Chesterton Co., AB SKF, CinchSeal, EnPro Industries Inc., ERIKS Seals and Plastics Inc., Freudenberg SE, Kalsi Engineering Inc., Parker Hannifin Corp., System Seals Inc., and Trelleborg AB are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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High demand from the water and wastewater industry has been instrumental in driving the growth of the market. However, frequent failures with rotary seals might hamper the market growth.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a