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Pneumatic Seal Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast | Growth Market Reports

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The Global Pneumatic Seal Market was valued at USD 129.1 million in 2019 and is projected to reach USD 215.6 million by 2027, expanding at a CAGR of 6.7% during the forecast period. In terms of volume, the market is projected to expand at a CAGR of 5.4% during the forecast period. Pneumatic seals are used in pneumatic valves & cylinders and are usually designed for low operating pressures as opposed to hydraulic seals. Pneumatic applications require low friction seals and high operating speed than hydraulic applications. Pneumatic seals are extensively used in various commercial and industrial applications. Pneumatic valves and cylinders make use of these pneumatic seals for storing actuated gas or air under desired level of pressure. These seals are commonly seen in pneumatic devices that are used for reciprocating and rotary applications.

Market Dynamics

Pneumatic seals play a crucial role in ensuring efficient manufacturing processes. Automotive manufacturers are adopting industrial Internet of things (IIoT) systems to increase energy efficiency and monitor asset conditions. Thus, creating huge potential for pneumatics seals in the automotive industry.

Growing demand for pneumatic seals across the automotive sector is expected to propel the market growth during the forecast period. The automotive industry in Asia Pacific is growing rapidly, thus the demand for pneumatic seals is expected to increase in this region. Moreover, the unique advantages of pneumatic seals such as high temperature tolerance range, wear-resistance, and low friction are increasing their adoption across the globe. Furthermore, high preference for pneumatic equipment across the food processing industry, thus driving the market growth. For instance, the US Food and Drug Administration (FDA) guidelines encourage the use of pneumatic equipment in the food industry, as a part of the Food Safety Modernization Act.

Segmental Outlook

 

On the basis of types, the pneumatic seal market has been bifurcated into valve and cylinder. The valve segment held a significant share of the market in 2019 and is anticipated to expand at a substantial CAGR during the forecast period. The pneumatic valve controls the rate, pressure, and amount of air, as it transports through a pneumatic system. The segmental growth is attributed to the continuous development and innovation related to pneumatic valves across various end-user industries. Moreover, low pressure characteristic of pneumatic valves is propelling the segment.

Based on applications, the pneumatic seal market is divided into equipment manufacturing, automobile industry, shipping industry, and others. The equipment manufacturing segment held a considerable share of the market in 2019 and is anticipated to expand at a moderate CAGR during the forecast period. Pneumatic seals are used in equipment that involve high operating speeds. Moreover, oil and refinery equipment extensively use seals for various purposes. The material used for constructing pneumatic seals includes sintered bronze, cast iron, stainless steel, leather, and felt. These materials enhance the overall life of the pneumatic seal as they are highly durable. Hence, they are widely used to manufacture equipment on a large scale.

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Regional Outlook

 

In terms of regions, the market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is projected to expand at a considerable CAGR during the forecast period. The region is the largest market, in terms of revenue generation, from the pneumatic seal. The region dominates the global market due to the dense presence of local pneumatic seal manufacturers across Asia Pacific.

 

Competitive Landscape

  • Key players in the market include Trelleborg, Freudenberg Sealing Technologies, Kastas Sealing Technologies, Hallite Seals International, and AB Seals. These companies are considered as key manufacturers of pneumatic seal-based on their revenue, regional presence, research & development (R&D) activities, and supply chain management system.
  • The players are adopting key strategies such as acquisition, merger, and geographical expansion to strengthen their market position. For instance, in March 2019, Trelleborg, through its Trelleborg Wheel Systems subsidiary announced the acquisition of Italian firms Provana Solutions and Provana Quality Centre. Provana Quality Centre offers the service for testing of tires to original equipment manufacturers of agricultural machinery, while Provana Solutions is involved in the servicing and distribution of tires and wheels to tractor dealers and farmers in Italy.
  • In January 2019, Trelleborg, through its business area Trelleborg Sealing Solutions, completed the acquisition of Sil-Pro, LLC that manufactures silicone and thermoplastic medical components. Sil-Pro has a staff of design and development engineers, along with machining, tooling, automation teams, and ISO Class 7 cleanrooms.
  • In July 2018, Hallite Seals’s parent company Fenner was acquired by Michelin. Michelin has its business in mining, off-highway, and the construction industry. This acquisition is aimed at delivering improved hydraulic sealing systems through product testing and advanced material development.

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