Silicone in Heavy Machinery Market to Garner $1.9 Billion, Globally, By 2027 at 5.5% CAGR, Says Allied Market Research

Silicone in Heavy Machinery Market to Garner $1.9 Billion, Globally, By 2027 at 5.5% CAGR, Says Allied Market Research

PR Newswire

PORTLAND, Ore., Nov. 18, 2020

Improved properties of liquid silicone rubber and easy processing of LSR boost the growth of the global silicone in heavy machinery market

PORTLAND, Ore., Nov. 18, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Silicone in Heavy Machinery Market by Product Type (Elastomer, Fluids, and Others) and Component (Switchgear and Others): Opportunity Analysis and Industry Forecast, 2020–2027." According to the report published by Allied Market Research, the global Silicone in heavy machinery industry garnered $1.2 billion in 2019 and is anticipated to reach $1.9 billion by 2027, growing at a CAGR of 5.5% during the forecast period.

Allied Market Research Logo

Determinants in the market-

Improved properties of liquid silicone rubber and easy processing of LSR boost the growth of the global silicone in heavy machinery market. However, non-recyclable nature of liquid silicone rubber hinder the growth. Conversely, growth in demand for silicone rubber in wind energy sector is expected to create multiple opportunities in the near future.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/7935

Covid-19 Scenarios-

The elastomers segment to dominate the market by 2027-

Based on product type, the elastomers segment contributed to more than two-fifths of the global silicone in heavy machinery market share in 2019 and is anticipated to lead the trail during the study period. This is due to rising demand for silicone elastomer in insulators and cable. On the other hand, the fluids segment would grow at the fastest CAGR of 6.0% by 2027. This is owing to its high thermal stability, high flash point and high fire point compared to other fluid or transformer oil.

Get Detailed COVID-19 Impact Analysis on the Silicone in Heavy Machinery Market @ https://www.alliedmarketresearch.com/request-for-customization/7935?reqfor=covid

The switchgear segment to lead the trial throughout the forecast period-

Based on component, the switchgear segment held largest market share with nearly two-thirds of the global silicone in heavy machinery market revenue in 2019 and is expected to rule the roost during the forecast period. This is attributed to replacement of aging infrastructure along with investment in new energy projects. Furthermore, the same segment is expected to manifest the fastest CAGR of 4.7% throughout 2027. This is attributed to rise in energy demand in emerging nations from industrial, agriculture, residential, commercial, and transportation sectors.

The Asia-Pacific & Europe, followed by North America to rule the roost by 2027-

Based on geography, the Asia-Pacific and Europe region, followed by North America, dominated the market with major share in 2019, holding nearly one-third of the global silicone in heavy machinery market. Moreover, the Asia-Pacific region is also anticipated to register the fastest CAGR of 5.8% during 2020 to 2027. This is owing to the growing application of silicone in various power plant projects in emerging nations, such as China, India, and South Korea.

The key players profiled-

Interested in Procuring This Report? Visit Here: https://www.alliedmarketresearch.com/silicone-in-heavy-machinery-market/purchase-options

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:              

Silicone in Electrical and Electronics Market: Global Opportunity Analysis and Industry Forecast, 2017-2023

Silicone Elastomer Market: Global Opportunity Analysis and Industry Forecast, 2017-2023

Synthetic Lubricants Market: Global Opportunity Analysis and Industry Forecast, 2019–2026

Heat Transfer Fluids Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact:
David Correa
5933 NE Win Sivers Drive#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 

Voltar noticias em Inglês