New report: Transmission Shaft Seals Market opportunities and forecast assessment, 2017 - 2027
Author : Ajaykumar Patil | Published On : 22 Sep 2021
Transmission Shaft Seals Market Forecast and CAGR
According to latest research by Persistence Market Research, transmission shaft seals market is set to witness steady growth during 2021-2031. The demand will witness steady recovery in short-term, with optimistic growth outlook in the long-run.
The automotive market downfall which went down to almost 20% global average will significantly impact the market, on the contrary the steady recovery taking place in countries such as China will create opportunities for the market to get on track soon.
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What is Driving Demand for Transmission Shaft Seals?
Transmission shaft seals are used in application for the input and output shafts of entire types of drive-line units including transmissions, rear drive modules, transfer cases, and hybrid and e-drive units as well as power transfer units.
Transmission shaft seals designed by supplier provide several benefits against, significant misalignment, high levels of external contamination, aggressive lubricants, which can attack and break down standard elastomers, and a wide temperature spectrum.
How Automotive Industry Will Drive the Market?
The transmission system being one of the most important parts of any vehicle controls the power that is delivered to the wheels so that the vehicle drives at the required speed. It is full of gears, and those gears need to remain well-oiled. This is where seals matter a lot. The transmission has countless number of seals that hold oil in, that allow the system to build pressure, helping the transmission shift through the gears.
Transmission shaft seals designed by suppliers are accessible for all shaft applications in the drive-line. These seals are made to work in high temperature and high speed capable. An array of materials for application specific needs such as ACM, HNBR, AEM and FKM can be provided.
Hence, growth in automotive industry and auto aftermarket directly impact the transmission shaft seals market. The future remains optimistic with higher adoption rates of vehicles with automatic transmission systems, which has more requirement for seals than the counterparts.
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Europe Market Outlook
Europe has always been a prominent region in terms of auto production and sales. The research and development by core companies in the transmission shaft sealing technology makes it further a lucrative market in terms of product innovation and growth.
The countries such as Germany, Italy and Russia are prominent auto manufacturers and also remain at the forefront in auto sales and technology development. It makes Europe a prominent region in respect to transmission shaft seals market.
Presence of major leading manufacturers such as SKF, Freudenberg, etc. makes it a more promising region. These companies supply their products through several distribution channels including direct supply agreements with buyers, third-party agreements with vendors and wholesalers and e-commerce portals.
Asia Pacific Market Outlook
Asia Pacific remains a growth oriented region in terms of sales. Automotive industry in countries such as India, Thailand is taking slow and steady growth pace and hence to create opportunities for the manufacturing companies operating in the market.
Australia and New Zealand which have faced downfall in recent years in automotive sales in the countries, still remain lucrative market for the aftermarket sales of transmission shaft seals.
The overall rising production output of automobiles in countries including China and India is expected to upsurge adoption of the product over the next decade. Growth can also beat tributed to the improvement of transportation sector including automotive in countries including China, India, Taiwan, and Japan.
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Who are the Key Manufacturers and Suppliers of Transmission Shaft Seals?
Some of the leading manufacturers and suppliers include
- The Timken Company
- Parker Hannifin
- Tianjin SWKS Technology & Development Co. Ltd.
- Continental AG
- Freudenberg Sealing Technologies
The companies are expanding their product portfolios and production capacities making the market highly competitive. This is to cater to the growing demand, particularly with the growth in automotive sales. It is also characterized manufacturers operating testing facilities that are equipped to fully validate the function and performance of transmission seals.
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