The market for industrial couplings worldwide is anticipated to reach US$ 242.6 million in 2022, according to Future Market Insights’ report. Due to the major objective of an industrial coupling being to transmit rotational motion from one shaft to another shaft with the highest efficiency, the market is predicted to reach US$ 689.3 million by 2032, expanding at a CAGR of 11.0% during the forecast period (2022-2032). Previously, the market grew between 2017 and 2021 at a CAGR of 8.7%.
The rotating components of a machine are connected by industrial couplings. The drive shaft of a power source is connected to a shaft on a driven machine or portion of driven machine using a coupling. The shaft on a piece of driven machinery can be a pump or an electric generator, and the drive shaft of a power source can be an electric motor or a diesel engine.
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An industrial coupling’s primary function is to efficiently transfer rotational motion from one shaft to another shaft. Industrial couplings can also be used for a variety of extra tasks, such as offering a variety of ways to detach the driving engine or motor from the driven machinery or a pump.
Correct alignment of the industrial couplings and shafts contributes to the equipment’s proper operation. The equipment may malfunction or sustain damage if the shafts are not made to line properly, greatly reducing both the equipment’s lifespan and its usability. Industrial couplings are also employed to permit relative axial motion at an angle, to lessen or completely eliminate vibration transfer from one machine component to another, and to permit minor equipment misalignment.
Industrial couplings Market: Overview
The automotive and chemical industries have a very high need for industrial couplings. The automobile industry uses industrial couplings to connect and test a variety of vehicle-related equipment that is supported by a trough.
Moreover, an industrial coupling is used to connect the fluid from one vessel to another as it is being moved through various processes in the chemical industry, where various operations like mixing, lime filtration, etc. are carried out.
Also, Industrial couplings have a wide array of the industrial application includes natural gas industry, chemical industry, oil industry, and water treatment companies. Additionally, the market has register rise in acceptance for coupling in the gas pipe construction industry.
However, deteriorating exports and increasing cost of labor are major factors accountable for adaptation of the Industrial couplings market across the globe. Recently, industries are focusing mainly on the enhancement of energy efficiency which leads to high demand for Industrial couplings in the near future.
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Furthermore, strategic expansions relating to the coupling market in Nigeria, Indonesia, Mexico, and Turkey are likely to offer significant growth opportunities. However, Industrial couplings product technology has developed, and consequently, customers pursue value additions as a major purchase standard for Industrial co couplings.
Also, lack of advanced Industrial couplings application potentials of is hampering the Industrial couplings market growth. The coupling industry has observed advancement and innovations in product based technology. Most of the industries are developing Industrial couplings that involve fewer space, use of low weight resources with advanced indolence qualities for manufacturing Industrial couplings.
Industrial Couplings Market: Key Players
- Altra Industrial Motion Corp.
- Colossus
- Daido Precision Industries Ltd.
- Emerson Electric Co.
- Dandong Colossus Group Co., Ltd.
- John Crane Ltd.
- Siemens AG
- Baldor Electric
- Industrial Clutch Parts Ltd.
- KTR Kupplungstechnik GmbH, Chr
- Tsubakimoto Chain
Industrial couplings Market: Segmentation
The global Industrial couplings market is segmented by type, application, and by geography.
Based on the type couplings Market is segmented into:
- Flexible Elastic Coupling
- Rigid Coupling
- Flange Coupling
- Torsionally-Rigid Flexible Coupling
Based on the application type Industrial couplings Market is segmented into
- Automotive
- Medical Equipment
- Engine
- Aerospace
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
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