News | January 22, 2021
Oil And Gas Seals Demand To Decelerate In 2021, Only To Post A Recovery In 2022: New Study
The global oil & gas seals market is likely to exhibit significant deceleration, pegged at -6.5% in 2021 over 2020. This downturn is majorly ascribed to the recessionary impact of the COVID-19 pandemic on the oil & gas industry across the world, according to ESOMAR-certified market research company Future Market Insights (FMI). Fortunately, recovery is on the cards beginning 2022, with a projected annual increase of approximately 3%.
The long-term outlook on oil and gas seals market remains positive, with revenues set to grow at 3.3% CAGR. Substantial increase oil & gas exploration activities and development of oil & gas distribution infrastructure across the globe are expected to remain key defining factors in the global oil & gas seals market.
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DETROIT, Dec. 16, 2020 /PRNewswire/ Stratview Research announces the launch of a master dataset (excel dashboard) for the entire seals family across industries. Seals find usage as a critical tier-2/3 component in majority of the industries such as aerospace and defense, automotive, oil & gas, consumer goods, construction, healthcare, semiconductor and others
Stratview has immense research experience in all these industries covering OEMs, Tier 1s, Tier 2s, Tier 3s and material manufacturers with more than 200 published market research reports. After receiving tremendous response from the reports on Aircraft Seals Market, Automotive Seals Market, Semiconductor Seals Market, Oil & Gas Seals Market, Pipe Seals Market, and Medical & Life Science Seals Market, the company has come up with a master database which will cover data for the entire seals market segments including trend and forecast (2015-2026) covering North America, Europe, Asia-Paci