Middle East & Africa Gaskets And Seals Market Size & Outlook
Middle East & Africa gaskets and seals market, 2018-2030 (US$M)
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MEA gaskets and seals market highlights
- The MEA gaskets and seals market generated a revenue of USD 5,423.2 million in 2023.
- The market is expected to grow at a CAGR of 4.3% 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, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 5,423.2 million |
| Market revenue in 2030 | USD 7,276.4 million |
| Growth rate | 4.3% (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, MEA region accounted for 8.9% 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 |
|---|
Middle East & Africa 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 56.33% in 2023. Horizon Databook has segmented the Middle East & Africa gaskets and seals market based on gaskets, seals covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing foreign investments in automotive sector in the Middle East are expected to open the market for seals in automotive applications over the forecast period. Several governments in the Middle East have framed policies to promote investments in automotive industry.
However, the fall in the automotive sales across the globe on account of the decline in demand has restricted the industry growth. Moreover, the outbreak of the coronavirus pandemic in the region has further restricted the industry growth, which in turn limits the gaskets and seals market in the region.
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Target buyers of Middle East & Africa gaskets and seals market databook
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Our clientele includes a mix of gaskets and seals market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa gaskets and seals market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa gaskets and seals market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA gaskets and seals market size, by country, 2018-2030 (US$M)
Middle East & Africa Gaskets And Seals Market Outlook Share, 2023 & 2030 (US$M)
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