Dublin, Aug. 03, 2023 (GLOBE NEWSWIRE) — The “Global O-Ring Market Report and Forecast 2023-2028″ has been added to ResearchAndMarkets.com’s offering.
The global O-ring market is valued at US$14.49 billion in 2022 and is expected to grow at a compound annual growth rate of 3.4% from 2023 to 2028, reaching US$17.89 billion. O-rings are used in a wide range of static and dynamic applications, providing cost-effective and reliable sealing solutions to a variety of industries.
The growing application of O-rings in industries such as automotive, aerospace, oil and gas is driving the growth of the market. In the aerospace sector, O-rings are widely used in hydraulic systems, fuel systems and engine components, increasing their demand. The oil and gas industry relies heavily on these seals in applications such as drilling equipment, valves and pumps.
Additionally, global focus on energy efficiency and environmental sustainability is driving the market. Governments and regulators around the world are implementing strict emissions standards and environmental regulations, encouraging industries to adopt energy-saving and environmentally friendly technologies. O-rings play a key role in ensuring the proper functioning and sealing of such technologies, resulting in increased demand.
Additionally, the growing popularity of electric vehicles has created new opportunities for the O-ring market. As the automotive industry shifts to electric vehicles, the demand for O-rings in electrical and electronic products is expected to increase significantly.
The market can be classified by type, application and region. O-ring types include synthetic rubber and thermoplastic elastomer. O-rings are used in electrical and electronics, aerospace, energy, food and beverage, health and medical, automotive and transportation, mechanical engineering, etc.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
In the competitive landscape, the report evaluates market share, plant turnover, capacity, investment, and acquisitions and mergers of major O-ring companies. Some of the main players include:
The market is highly competitive and major players are striving to innovate and improve their products to meet ever-changing industry needs and regulatory standards.
Key Topics 1 Preface 2 Report Contents – Key Segments and Scope 3 Report Description 4 Key Assumptions 5 Executive Summary 6 Market Overview 7 Market Opportunities and Challenges 8 Global O-Ring Market Analysis 9 North America O-Ring Market Analysis 10 European O O-Ring Market Analysis 11 Asia Pacific – O-Ring Market Analysis 12 Latin America O-Ring Market Analysis 13 Middle East and Africa O-Ring Market Analysis 14 Market Dynamics 15 Competitive Landscape 16 Key Market Trends and Developments
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Post time: Sep-15-2023
