Freudenberg FST GmbH (a subsidiary of Freudenberg), SKF and IDT are Dominating in the Global Gaskets and Seals Market in 2020

Global Gaskets and Seals Market is expected to grow with the CAGR of 5.9% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global gaskets and seals market is a highly consolidated market which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global gaskets and seals market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance, in December 2020, Dätwyler Holding Inc. has decided to enter into the strategic partnership with Nespresso and to increase the production of seals products. The development helps the company to increase revenue.

Freudenberg FST GmbH (a subsidiary of Freudenberg) is the dominating player in the global gaskets and seals market. The other players included in the gaskets and seals market are SKF, Flowserve Corporation, John Crane (a subsidiary of Smiths Group plc), BRUSS Sealing Systems GmbH, Trelleborg AB, ElringKlinger AG, Cooper Standard, GARLOCK FAMILY OF COMPANIES (a subsidiary of EnPro Industries), Dätwyler Holding Inc., Lamons LGC US Asset Holdings, LLC (a subsidiary of TriMas), SSP Manufacturing Inc., W. L. Gore & Associates, Inc., IDT and A.J. Rubber & Sponge Ltd. among others.

Gaskets and Seals MarketFreudenberg FST GmbH (a subsidiary of Freudenberg):

Freudenberg FST GmbH (a subsidiary of Freudenberg) is headquartered in Weinheim, Germany which was founded in 1929. The company is engaged in the manufacturing of seals products for automotive, industrial and alternate drivetrain applications. The company has wide range of products under categories such as sealing, fuel cell and battery out of which sealing is the market focused category.

For instance,

  • In June 2019, Freudenberg FST GmbH (a subsidiary of Freudenberg) has decided to introduce new seals and materials for the aerospace industry at 2019 International Paris Air Show. This development helps the company to increase the revenue.

The company has wide global presence across the Europe and North America.

SKF:

SKF is headquartered in Gothenburg, Sweden and was founded in 1907. The company is engaged in the design and manufacturing of bearings, seals and lubrication systems. The company has multiple business segments which are industrial and automotive out of which automotive is the market focused segment. The company offers wide range of products under categories such as rolling bearings, mounted bearings and housings, super-precision bearings, slewing bearings, plain bearings, magnetic bearings and systems, industrial seals, automotive seals, lubrication management, maintenance products, condition monitoring systems, power transmission solutions, test and measuring equipment and vehicle aftermarket among which automotive seals is the market focused category.

For instance,

  • In September 2020, SKF company has decided to strengthened competitiveness in North America with the increasing investment in SEK 550 million. This development helps the company to increase the revenue.

The company has presence in Asia-Pacific, Europe, North America, South America and Middle East and Africa, generating revenue through various subsidiaries such as SKF France (France), SKF USA Inc. (U.S.), SKF Economos GmbH (Germany), Kaydon Corporation (U.S.) and SKF Sealing Solutions (Sweden) among others.

IDT:

IDT is headquartered in Buchholz, Germany. The company is engaged in the manufacturing of seals products for complex system and machines. The company offers wide range of products under categories such as gaskets, non-standard gaskets, plastics, ePTFE, stuffing box packings, textiles, fabric expansion joints, MRO products, O-ring-selection, sealing expertise, dimension tables, approvals and reports out of which gaskets and non-standard gaskets are the market focused categories.  

For instance,

  • In October 2019, IDT has decided to take part in the pumps & valves in Rotterdam and show case the sealing products related to valves. This development helps the company to increase the revenue.

The company has wide global presence in Asia-Pacific, Europe, North America and Middle East and Africa.