South Korea Gaskets And Seals Market Size & Outlook
South Korea gaskets and seals market, 2018-2030 (US$M)
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South Korea gaskets and seals market highlights
- The South Korea gaskets and seals market generated a revenue of USD 1,784.9 million in 2023 and is expected to reach USD 2,217.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.2% 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.
Gaskets and seals market data book summary
| Market revenue in 2023 | USD 1,784.9 million |
| Market revenue in 2030 | USD 2,217.9 million |
| Growth rate | 3.2% (CAGR from 2023 to 2030) |
| Largest segment | Seals |
| Fastest growing segment | Gaskets |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, South Korea accounted for 2.9% of the global gaskets and seals market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China gaskets and seals market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,984.5 million by 2030.
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Gaskets And Seals Market Scope
Gaskets And Seals Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 62.1% in 2023. Horizon Databook has segmented the South Korea gaskets and seals market based on gaskets, seals covering the revenue growth of each sub-segment from 2018 to 2030.
Manufacturing sector is the major growth driver for South Korea and the largest industries include electronics, automobile, telecommunication and shipbuilding. South Korea is major player in global shipbuilding market accounting over 30 percent share in the global ship production.
Four of the world’s largest ship building companies are from South Korea including Samsung Heavy Industries, Hyundai Heavy Industries, STX Offshore & Shipbuilding and Daewoo Shipbuilding & Marine Engineering. Europe largest ship builder named STX Europe, is also owned by South Korea.
The demand for gaskets and seals is projected to be hiogh on account of the rising manufacturing activities in the country.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea gaskets and seals market , including forecasts for subscribers. This country databook contains high-level insights into South Korea gaskets and seals market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea gaskets and seals market size, by gaskets and seals, 2018-2030 (US$M)
South Korea Gaskets And Seals Market Outlook Share, 2023 & 2030 (US$M)
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