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1. Automotive Industry In vehicles, oil seals are critical for preventing engine oil leaks, thereby ensuring the smooth operation of the engine and extending its lifespan. They are commonly used in crankshafts, camshafts, and wheel hubs.

Competition within the oil seal market is another critical factor that affects pricing. The industry is populated by various manufacturers ranging from large multinational corporations to smaller, niche companies. While competition can drive prices down as companies vie for market share, it can also lead to price increases if demand outstrips supply. Additionally, manufacturers that offer superior technology or materials may command higher prices, impacting the overall market rates for oil seals.

Another significant benefit is their ability to minimize contamination. The dual sealing system effectively prevents dirt, dust, and other foreign particles from entering the machinery, thereby protecting internal components from damage. This protective feature is particularly crucial in industries that operate in harsh environments or where precision is paramount.