According to Arizton’s latest research report, the global gaskets & seals market is growing at a CAGR of 5.75% during 2023-2029.
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Report Summary
Market Size (2029): USD 100.72 Billion
Market Size (2023): USD 72.03 Billion
CAGR (2023-2029): 5.75%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Product Type, Seals, Gaskets, Material Type, End Use, Application and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, Middle East & Africa
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Growing Demand for Gaskets and Seals in EVs Driven Boosting Growth
The increasing demand for gaskets and seals in electric vehicles (EVs) is fueled by their essential role in ensuring the performance, efficiency, and longevity of these vehicles. In EV batteries, gaskets and seals are crucial for protecting against dust, moisture, and heat, preserving the battery pack’s integrity by preventing external contaminants from entering and internal fluids from leaking out. This containment is vital for both safety and environmental protection, particularly in preventing electrolyte and other fluids from escaping in the event of a rupture. Additionally, effective thermal management is critical for the optimal performance of EV batteries, electric motors, and power electronics. Gaskets and seals play a key role in managing and dissipating heat, ensuring proper thermal insulation, and safeguarding against extreme temperatures.
With electric car sales nearing 14 million in 2023—95% of which occurred in China, Europe, and the US—there are now nearly 40 million electric cars on the roads globally, according to data from the International Energy Agency. The rising popularity of EVs is significantly boosting the market for gaskets and seals used in these vehicles. Innovation and optimization of these components are essential for advancing EV technology.
Key Development
In 2023, Freudenberg revealed a breakthrough from its Sealing Technologies division with the development of 3D thermal barriers. These barriers act as protective layers aimed at mitigating thermal runaway by enhancing resistance to propagation, thereby improving safety standards for EVs.
In 2023, John Crane, a division of Smiths Group and a global leader in rotating equipment solutions, introduced the Type SB2/SB2A USP seal. This new product combines the heavy-duty dual cartridge Type SB2/SB2A seal with its innovative upstream pumping (USP) technology.
OEMs Lead Global Gaskets and Seals Market with Largest Share
The Original Equipment Manufacturers (OEMs) market segment holds the largest share in the global gaskets and seals market. OEMs are vital across various industries, producing essential products and components that are branded and sold by other companies. Gaskets and seals, though small, are crucial components for OEMs in sectors such as automotive, industrial machinery, electrical appliances, aerospace, and shipbuilding. The growth in production facilities and establishments within these industries is driving the expansion of this market segment.
In OEM applications, gaskets and seals are indispensable for creating reliable, leak-free seals between mating surfaces. For instance, in automotive manufacturing, they are essential in preventing fluids like oil and coolant from leaking out of engines and transmissions, thus protecting against costly damage and ensuring operational efficiency.
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Key Vendors
Dana
Business Overview
Product Offerings
Datwyler
Dechengwang
ElringKlinger
Flowserve Corporation
Freudenberg Sealing Technology
SKF
Smiths Group
Tenneco
Trelleborg
Cooper Standard
Bruss
Enpro
Saint-Gobain
Dimer
KLINGER
SSP Manufacturing
W.L. Gore & Associates
Armacell
Parker Hannifin
Flexitallic
Advanced Seals & Gaskets
Erith
Lamons
A.J. Rubber & Sponge
The Rubber Company
N. K. Rubber Industries
AMG Sealing
IGP Engineers
Phelps
AccroSeal
Vicone
Seal & Design
Mechanicals Seals Germany
Polymax
DuPont
Kaman
Teadit
Frenzelit
Sanwa Packing Industry
Segmentation & Forecast
Product Type
Seals
Gaskets
Shaft Seals
Molded Seals
Motor Vehicle Seals
Other Seals
Jacketed Gaskets
Solid Gaskets
Spiral Wound Gaskets
Kammprofile Gaskets
Other Gaskets
Material Type
Metallic
Non-metallic
End Use
OEMs
After Market
Application
Industrial Machinery
Automotive
Electricals & Electronics
Aerospace Industry
Marine & Rail
Others
Geography
North America
The U.S.
Canada
Europe
Germany
The U.K.
France
Italy
Spain
APAC
Japan
China
India
Australia
South Korea
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Turkey
South Africa
Saudi Arabia
Key Questions Answered in the Report:
How big is the global gaskets and seals market?
Who are the major players in the global gaskets and seals market?
What is the growth rate of the global gaskets and seals market?
Which region dominates the global gaskets and seals market share?
What are the key drivers of the global gaskets and seals market?
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