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Global Machine Shims Market Insight2022-03-03 Comments
The Machine Shims is forecast to crazy over the next few years. According to WK-chem Research, “Global Machine Shims Professional Survey Report 2022, Forecast to 2027”, The Machine Shims industry is growing rapidly with the increasing consumer demand. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 7.6% base on WK-chem Research regression analysis model.
“The global machinery gasket market is expected to continue to expand, with increasing demand for automation and robotic systems leading to increasing application of global machinery gaskets.” said Eva Joy, Senior analyst, Chemical & Materia Market Research Center in WK-chem Research .
A number of factors are driving the growth of the global mechanical gasket market. Some of these include, increased demand for lightweight machines in automobiles, and increased use of machine gaskets in end-user industries such as construction, robotics, and automation. The growing market for IoT applications is also expected to drive product sales in the coming years. Increasing standardization to improve quality control is another factor helping its overall revenue generation during the forecast period of 2022 to 2027. However, the impact of the epidemic has caused many factories to stop production, and labor costs have risen sharply, which is not conducive to the development of the market.
Key players in the market include 3M, McMaster Carr, PRUFTECHNIK, SKF, Weekes Forest Products, Nelson Wood Shims, SHI, Leatou, Roc-Master, Shanghai Suotuo Sealing Material, Sealpilot. These market players are expanding their business territory for more profit.
Segmentation of Machine Shims Market:
On the basis of type, the global mechanical gasket market is segmented into rubber, copper, paper, and others. Paper machine gaskets are expected to hold the largest market share. Due to its affordable price and easy availability, paper is increasingly used in the automotive industry as a machine gasket, making this type one of the most popular choices for users worldwide. The cost of paper is lower compared to other materials with similar mechanical properties such as rubber or plastic sheets/gaskets. The global copper machine gasket market is expected to grow rapidly owing to increasing demand for high-performance metal alloys and growing demand from end-use industries. Copper has properties such as good electrical conductivity, thermal conductivity, corrosion resistance, ductility, ductility, etc., making it a suitable material for the manufacture of different products used in a variety of applications in multiple end-user industries.
On the basis of application, the global mechanical gasket market is segmented into automotive, robotics, industrial, construction, and others. In the application field, the automotive market is expected to hold the largest market share. Growing demand for lightweight, compact and efficient vehicles is an important factor driving the market growth. Growing sales of electric vehicles (EVs), hybrid vehicles, and fuel-efficient vehicles in various regions have led to an increase in the application of machine gaskets in manufacturing operations. Machine spacers are used to provide precise dimensional tolerances as required by different manufacturers when assembling parts to manufacture automobiles.
Machine Shims Market: Regional Analysis:
On the basis of region, the global machine gasket market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market is expected to hold the largest market share. The United States, Canada, and Mexico are the major countries in the North American region, and they contribute significantly to the regional demand for machine gaskets. Rising demand for the automotive and robotics industries, rising manufacturing activities across the region, and rising investments in infrastructure projects are expected to drive the growth of this market over the next five years. The significant contribution of China, India and Japan to the regional demand over the forecast period is due to the increase in the usage of machine gaskets by various manufacturers globally due to the growth in manufacturing activities and the increase in the ongoing infrastructure development projects.
Largest share area: North America
Largest share country: United States
Product Type (by resin type): rubber, copper, paper and others
Application: Automotive, Robotics, Industry, Construction
Leading Company: 3M, McMaster Carr, PRUFTECHNIK, SKF, Weekes Forest Products, Nelson Wood Shims