Couplings Market size is set to grow by USD 246.16 mn from 2023-2027,stringent emission regulations boost the market- Technavio

NEW YORK, March 22, 2024 /PRNewswire/ -- The global couplings market size is estimated to grow by USD 246.16 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of almost 2.09%  during the forecast period.  The couplings market is driven by emission regulations, particularly in the coal-fired power sector. Companies like KTR Systems GmbH, ASC Engineered Solutions, and Gruvlok Fig are expanding and forming partnerships to provide advanced mechanical and mining systems with improved torques and operating pressures, reducing carbon emissions from aluminum and coal industries. 

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This couplings market report extensively covers market segmentation by Product (Elastomeric couplings, Metallic couplings, Mechanical couplings, Others) Application (Power generation, Metal and mining, Papermaking, Automotive, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa)

The couplings market encompasses a variety of products, with elastomeric couplings representing a significant segment. These couplings, which include shear and compression types, utilize elastic materials like urethane and rubber for enhanced vibration absorption and shock reduction. Suitable for applications with substantial shaft misalignment, elastomeric couplings excel in low-torque scenarios due to their elastic properties and minimal friction wear. A key advantage of these couplings is their requirement for no lubrication during operation, as the interconnection between the shafts remains non-metallic.

The APAC region, home to major automotive manufacturers like China, India, and Japan, leads the global automotive market. This growth in production and sales drives the demand for couplings in automotive drivetrains, transmission systems, and suspension systems. Additionally, the increasing adoption of renewable energy sources in Asia is propelling the couplings market forward. With significant pressure on developing countries to reduce carbon emissions, the phase-out of coal-based power plants presents an opportunity for couplings to play a crucial role in power transmission systems for renewable energy. 

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• The couplings market experiences growth due to increased lumber demand in construction, furnishing, and packaging industries. Automated mills in modern lumber production require couplings for saws, mills, and machinery. Key players like KTR Systems GmbH, Rotex, ASC Engineered Solutions, and Gruvlok Fig expand through partnerships and joint ventures. Aluminum couplings with high torques are preferred for mechanical and mining systems, operating at various pressures.
• The renewable energy sector's expansion, driven by industrialization in developing countries, necessitates a shift from fossil fuels to renewable sources like wind and solar power. Strict environmental regulations fuel this transition. Key players like KTR Systems GmbH, ASC Engineered Solutions, and Aluminum Rotex Family produce couplings for mechanical systems in mining and wind energy applications, ensuring optimal torque and operating pressure. Partnerships and joint ventures, such as Gruvlok Fig, further boost market growth in this sector.

Insights on Market Drivers, trends, & Challenges, historic period(2017 - 2021) and forecast period(2023-2027)- Request a sample report!

In the industrial couplings market, the automotive sector plays a significant role in driving growth. The rotation mechanism of these couplings is crucial for productivity in various applications, including automation adoption. Market trends indicate a shift towards contactless operation, which is gaining popularity due to its benefits in terms of efficiency and reliability. The rise of electric vehicles is also fueling demand for industrial couplings, as they are essential components in the powertrain and charging systems of these vehicles. The market overview reflects a competitive landscape with key players focusing on innovation and technological advancements to meet evolving customer needs.

The Couplings Market encompasses a significant segment of the engineering industry, focusing on the production and distribution of various types of couplings. These components are essential for connecting different parts of machinery and systems, ensuring their efficient operation. The market for Goernments, Exports, Vehicles, and Machinery is a key consumer of couplings, with Gely Holding and Ontario Group being notable manufacturers. The product range includes Smart Manifolds, Manifolds, and Practices, catering to the needs of various industries. The market is driven by the increasing demand for productivity and efficiency in manufacturing processes. Key trends include the adoption of advanced materials and technologies, such as KTR Synthetic Seals and Siemens Simatic S7-1500 Programmable Logic Controllers. The market is projected to grow, with 5G and Renault being potential game-changers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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