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North American Seals Market
Frost & Sullivan, Dec 2008, Pages: 91
This research service discusses about market dynamics in North American seals market. It encompasses trends in market, technology for rotary and mechanical seals in North American geography. It also discusses about trends in the United States, Canada and Mexico. The research service includes trends in various end-users and growth opportunities in each of the end-users. It deals with market share analysis and reasons for key wins by top manufacturers. The research service discusses in detail about the drivers and restraints that are expected to have impact on the North American seals market.
This Frost & Sullivan research service titled North American Seals Market provides revenue forecasts of rotary and mechanical seals, end-user analysis, and market and technology for seals market. The purpose of this research service is to provide an insight into various trends, growth potential, and strategies that can be adopted to overcome the challenges and other factors within the North American seals market. It gives a brief overview of the technologies involved in the market, major competitors and industry directions, and provides the growth opportunities across various end-users.
Market Overview
North American Seals Market Supported by Aftermarket Opportunities
Although the mechanical seals market is approaching maturity, the presence of original equipment manufacturers and engineering procurement contractors (EPC) firms has rendered it an attractive destination for European and Asian participants. Aging of plants and revamping of process equipment across various plants have enhanced aftermarket opportunities, boosting the aftermarket revenues of mechanical seals. Expansions and new investments in the oil and gas sector have also uplifted prospects for the seals market. 'There was no significant plant expansion in the United States when compared to other geographies for the last few years,' notes the analyst of this research service. 'Hence, oil and gas companies are expanding their facilities and have planned investments for the next few years to cater to the demand for oil and gas.' Western Canada and Mexico are slated for major growth compared to other regions in North America in the oil and gas and power generation sector. These investments will fuel the growth of new pump and equipment installations, augmenting growth in the mechanical seals market. However due to the current recessionary environment, planned projects may be delayed while projects underway are likely to be pursued.
Power generation through nuclear plants in the United States accounts for 19.0 percent of the overall power generated, and high quality mechanical seals are employed in pumps used in nuclear applications. Concerted efforts are underway to optimize nuclear power production and 17 nuclear plants under construction will be commissioned by 2014. This greatly improves the outlook for mechanical as well as rotary seals. As nuclear byproducts require protection from the environment, customers will not hesitate to pay premium prices for mechanical seals. Besides, customers exhibit a preference for the use of sensors to detect pressure drops due to mechanical seals, thus encouraging market participants to develop technology partnerships with local automation vendors.
Decline in Pulp and Paper Industry Will Hit Mechanical Seals Market in the Short Term
Demand for newsprint, one of the largest consumers of pulp, has decreased due to the availability of alternate news sources such as internet and the development of the media and effective communications systems. This has impacted the overall pulp industry, increasing consolidation and curtailing the growth of the mechanical seals market. Manufacturers must turn their attention to new, emerging areas of growth such as biofuels and wind energy to marginalize the impact of this challenge.
Customers place prime importance on lifecycle costs of the seal when choosing the equipment or the seal. Mechanical seals comprise the weakest part of the pump and even minor misalignment of the seal on the shaft or improper seals can increase downtime and induce equipment failure. Besides, it increases leakages, compromising both efficiency and safety. 'Manufacturers of seals must focus on improved materials that adopt suitable techniques to reduce the friction between surfaces and improve surface characteristics, which results in lower energy utilization,' says the analyst. 'In addition, this offers end-users lower equipment downtime due to reduced intermittent failures.'
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Geographic Region:
- The United States
- Canada
- Mexico
By Application Type:
- Oil and gas
- Chemical processing
- Power generation
- Water and wastewater
- Pulp and paper
- Automotive
- Food and beverage
- Pharmaceuticals
- Mining and minerals
- Steelmaking
- Biofuels
- Others (shipping and marine, refrigeration compression, and other general industrial applications)
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