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Aftermarkets Hold Potential for the North American Seals Market Finds Frost & Sullivan - Despite the mature nature of the North American seals market, aging process plants and ongoing revamping of process equipment are two factors that have strengthen the growth of the seals markets in North America
Aftermarkets Hold Potential for the North American Seals Market Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Mountain View, CA, United States, 2009/03/31 - Despite the mature nature of the North American seals market, aging process plants and ongoing revamping of process equipment are two factors that have strengthen the growth of the seals markets in North America.

   
 
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The presence of original equipment manufacturers (OEM) and engineering procurement contractor (EPC) firms has made the region an attractive destination for European and Asian participants. Expansions and new investments in the oil and gas sector drive the growth of the seals market as companies in this arena strive to raise the bar on productivity levels.

New analysis from Frost & Sullivan (industrialautomation.frost.com), North American Seals Market, finds that market earned revenues of over $957.0 million in 2007 and estimates this to reach $1.24 billion in 2014.

If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, send an email to David Escalante, Corporate Communications, at david.escalante[.]frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.

"There were no significant plant expansions in the United States when compared to other geographies for the last few years," says Frost & Sullivan Research Analyst Deepthi Pamadiparthi. "Hence, oil and gas companies are expanding their facilities and have planned investments for the next few years to cater to the demand for oil and gas. However, over a short term period until mid 2010, the market is expected to experience a declining growth due to current economic turmoil."

Western Canada and Mexico have experienced major growth compared to other regions in North America especially in the oil & gas and power generation sector. These investments will fuel the growth of new pump and equipment installations, augmenting growth in the mechanical seals market.

Power generation through nuclear plants in the United States accounts for 19.0 percent of the overall power generated, and high quality mechanical seals employed in pumps used in nuclear applications offer opportunities for growth. Strong efforts are underway to optimize nuclear power production, and 17 nuclear plants under construction expect to be completed by 2014. This greatly improves the outlook for mechanical as well as rotary seals.

"As nuclear byproducts require protection from the environment, customers will not hesitate to pay premium prices for mechanical seals," says Pamadiparthi. "Also, customers exhibit a preference for the use of sensors to detect pressure drops due to mechanical seals, thus encouraging market participants to develop technology partnerships with local automation vendors."

Demand for newsprint, one of the largest consumers of pulp, has decreased due to the availability of alternate news sources such as internet, and the development of the media and effective communications systems. This has affected the overall pulp industry, increasing consolidation, and curtailing the growth of the mechanical seals market. Manufacturers must turn their attention to new, emerging areas of growth such as biofuels and wind energy to marginalize the impact of this challenge.

Customers place a great importance on lifecycle costs of the seal when choosing either the equipment or the seal. Mechanical seals comprise the weakest part of the pump, and even minor misalignment of the seal on the shaft or improper seals can increase downtime and induce equipment failure. It can also increases leakages, compromising both efficiency and safety. Manufacturers need to address these challenges by offering products with improved reliability and safety while maintaining prices at competitive levels.

"Manufacturers of seals focus on improved materials that adopt suitable techniques to reduce the friction between surfaces or better manufacturing techniques, which result in less energy utilization," says Pamadiparthi. "These enable manufacturers to utilize reduced energy and water for cooling along with reduced maintenance time or downtime to reduce the possibility of failure."

North American Seals Market is part of the Industrial Automation and Process Control Growth Partnership Service program, which also includes research in the following markets: North American gaskets market, North American packing materials market, global pumps CEO 360 degree research, global oil and gas score card for pumps and global mining scorecard for pumps, Latin American distribution for pumps, world positive displacement pumps market and world centrifugal pumps market. All research services included in subscriptions provide detailed market opportunities and industry trends that are evaluated by following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents.

North American Seals Market / N4FB

 
 
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Aftermarkets Hold Potential for the North American Seals Market Finds Frost & Sullivan

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