India Mechanical Seal Market (2023-2029) | Trends, Forecast, Revenue, Share, Outlook, Analysis, COVID-19 IMPACT, Industry, Value, Companies, Growth & Size

India Mechanical Seal Market

India Mechanical Seal market experienced significant growth in the past, primarily due to the expansion of the industrial sector, including oil and gas, energy, power, chemicals, pharmaceuticals, food processing, and manufacturing. Notably, the estimated reserves of natural gas increased by 3.07% from 1339.57 BCM in 2018 to 1380.63 BCM in 2019. However, the market faced a decline in 2020 as a result of the economic contraction caused by the pandemic. The restrictions on physical contact and the financial constraints faced by MSMEs in India led to a demand shock in the mechanical seal industry, resulting in decreased revenues. Nevertheless, the market began to recover in subsequent years as the government eased restrictions, indicating the strong demand fundamentals for mechanical seals across various industries.

According to 6Wresearch, the India Mechanical Seal Market is projected to grow at a CAGR of 5.4% during 2023-2029. The expanding sectors in India, such as crude oil consumption and natural gas consumption expected to reach 500 million tonnes and 550 million cubic meters per day respectively, are driving the demand for mechanical seals. Furthermore, the government has implemented various initiatives to boost the mining sector, including plans to monetize assets worth Rs. 28,727 crores (US$ 3.68 billion) between 2022 and 2025, while the National Manufacturing Policy aims to increase the manufacturing sector's GDP share to 25% by 2025.

Market by Type

By type, cartridge seals acquired a major share in the India mechanical seal industry and are expected to remain the same as offer convenience, reliability, and versatility, making them a preferred choice among other types of seals.

Market by Industry

The oil and gas sector is the primary driver of demand for mechanical seals, and it is anticipated to continue being a major application in the future due to the extensive use of mechanical seals in this industry.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• India Mechanical Seal Market Overview
• India Mechanical Seal Market Outlook
• India Mechanical Seal Market Forecast
• Historical Data and Forecast of India Mechanical Seal Market Revenues for the Period 2019-2029F
• Historical Data and Forecast of India Mechanical Seal Market Revenues By Type, for the Period 2019-2029F
• Historical Data and Forecast of India Mechanical Seal Market Revenues By Industry, for the Period 2019-2029F
• Market Drivers and Restraints
• India Mechanical Seal Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• India Mechanical Seal Market Revenue Ranking, By Companies
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Type

• Cartridge Seals
• Balanced and Unbalanced Seals
• Pusher and Non-Pusher
• Conventional Seals
• Others

By Industry

• Metal & Mining
• Food & Beverage
• Oil & Gas
• Energy & Power
• Chemical
• Water & Wastewater
• Pharmaceuticals
• Others

India Mechanical Seal Market: FAQs