APAC PUMP MECHANICAL SEALS MARKET ANALYSIS
The APAC pump mechanical seals market was valued at US$ 2.24 Bn in 2020, up from US$ 2.09 Bn in 2019. By 2028, the market is projected to reach US$ 4.09 Bn, exhibiting a CAGR of 6.78% over the forecast period (2021–2028).
The APAC pump mechanical seals market is segmented on the basis of design type, which includes pusher seals, non-pusher seals, and cartridge seals. On the basis of industry, it is segmented into oil & gas, power, water treatment & water supply industry, chemical industry, pharmaceutical industry, mining & mineral extraction industry, pulp & paper processing, and others.
In India, the demand for pump mechanical seals from pharmaceutical industry and oil & gas industry is expected to increase, due to high economic growth and favorable government policies such as ‘Pharma 2020’. This is expected to aid in growth of the APAC pump mechanical seals market over the forecast period.
Market- Trends
Figure 2: APAC Pump Mechanical Seals Market Value (US$ Bn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2028
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