Europe Gaskets And Seals Market Size & Outlook, 2023-2030
Europe gaskets and seals market, 2018-2030 (US$M)
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Europe gaskets and seals market highlights
- The Europe gaskets and seals market generated a revenue of USD 14,498.9 million in 2023.
- The market is expected to grow at a CAGR of 3.7% from 2024 to 2030.
- In terms of segment, seals was the largest revenue generating gaskets and seals in 2023.
- Gaskets is the most lucrative gaskets and seals segment registering the fastest growth during the forecast period.
- Country-wise, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 14,498.9 million |
| Market revenue in 2030 | USD 18,705.1 million |
| Growth rate | 3.7% (CAGR from 2023 to 2030) |
| Largest segment | Seals |
| Fastest growing segment | Gaskets |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Gaskets, Seals |
| Key market players worldwide | SKF AB ADR, Dana Inc, Freudenberg, Flowserve Corp, Smiths Group PLC, Trelleborg AB Class B, ElringKlinger AG, The Cooper Companies Inc, Enpro Inc, Crown Holdings Inc |
Other key industry trends
- In terms of revenue, Europe region accounted for 23.9% of the global gaskets and seals market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 38,584.1 million by 2030.
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Gaskets And Seals Market Scope
Gaskets And Seals Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe gaskets and seals market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to gaskets and seals market will help companies and investors design strategic landscapes.
Seals was the largest segment with a revenue share of 58.74% in 2023. Horizon Databook has segmented the Europe gaskets and seals market based on gaskets, seals covering the revenue growth of each sub-segment from 2018 to 2030.
Europe is the leading producer of clean automotive, having decreasing usage of water and energy required in the vehicle manufacturing and less waste and CO2 production. The stringent environmental regulations implemented in the region promotes the use of gaskets and seals, to avoid leakage and prevent the lubricant from escaping the bearings.
In addition, they are effective in preventing the entry of dust and contaminants. Thus, rising environmental concerns and demand for energy efficient vehicles is likely to promote the demand for gaskets and seals in the automotive industry.
Furthermore, rising use of lightweight form in place liquid gasket has led to reduction in overall weight of the automotive. These trends are anticipated to drive the demand for gaskets and seals in the automotive production in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe gaskets and seals market , including forecasts for subscribers. This continent databook contains high-level insights into Europe gaskets and seals market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe gaskets and seals market size, by country, 2018-2030 (US$M)
Europe Gaskets And Seals Market Outlook Share, 2023 & 2030 (US$M)
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