Couplings Market to Expand by USD 205.7 Million (2024-2028) with Emission Regulations Driving Growth, AI Powered Insights- Technavio

NEW YORK, Sept. 18, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global couplings market size is estimated to grow by USD 205.7 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 1.73% during the forecast period. Stringent emission regulations is driving market growth, with a trend towards advances in coupling technology. However, competitive pricing strategy adopted by low-cost asian manufacturers poses a challenge. Key market players include AB SKF, Chr. Mayr GmbH Co. KG, Daido Steel Co. Ltd., DieQua Corp., KTR Systems GmbH, Genuine Parts Co., Haudenschild Holding AG, Industrial Clutch Parts Ltd., KBK Antriebstechnik GmbH, MECVEL Srl, Michelin Group, R W Antriebselemente GmbH, Ramsey Products Corp., Regal Rexnord Corp., RINGSPANN GmbH, SCHMIDT-KUPPLUNG GmbH, SHV Holdings N.V., The Timken Co., Tsubakimoto Chain Co., and Voith GmbH and Co. KGaA.

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Market Driver

With the emergence of 3D printing technology, there's a growing trend in manufacturing couplings using this innovative method. This approach offers cost savings, shorter lead times, and the ability to easily customize end-products. The manufacturing process involves selectively depositing material with precise computer control. Plastics are commonly used for low torque power transmission applications, while metals like stainless steel and titanium are utilized for industrial-grade couplings. Some industries, such as aerospace and automotive, have already adopted this technology to produce high-value components. Couplings with embedded sensors, transmitting data online, have been developed for large-sized applications in industries like oil extraction and fracking. However, advancements in sensor technology are required to miniaturize these sensors for smaller couplings. Connected couplings that detect abnormalities and activate safety measures are of great interest to manufacturers. However, there are concerns about adding additional functions to couplings, as it may decrease equipment quality, lifespan, and increase maintenance costs and downtime. 

The Industrial Couplings Industry is experiencing significant growth, particularly in sectors like Automotive, where shaft power and rotation mechanism are crucial. Vendors supplying couplings to this sector focus on productivity and part quality. In the post-pandemic world, automation adoption, social distancing, and contactless operation are essential. The International Energy Agency highlights initiatives by governments, such as the Ontario Government, to boost industrial growth. Companies like Gilat Satellite Networks and Renault are investing in 5G infrastructure and smart manufacturing practices. KTR Systems, a leading coupling manufacturer, is expanding its product line with the Rotex family of aluminum couplings, offering longer shaft distances and higher torques. Essential workers in food production facilities implement safety processes and shutdowns to ensure workforce health. The Industrial Couplings Industry's lifespan and usage in driving engines, motors, pumps, and shafts continue to increase, contributing to global Gross Domestic Product. Geely Holding Group and other key players also focus on expanding their offerings to meet diverse industry needs. 

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Market Challenges

• In Asian countries, the lower cost of land, labor, and raw materials is driving substantial investments in the manufacturing sector, including industrial machinery components. The cost of couplings represents a small portion of end-users' overall purchasing expenses. However, the availability of affordable couplings from Asian manufacturers is putting pressure on vendors offering higher-priced products. European and North American companies face challenges in the Asian market due to competitive pricing, leading to increased competition among Asian players. This trend is negatively impacting the global couplings market's revenue growth during the forecast period.
• In the power transmission industry, various types of couplings are used to connect interconnected components in production equipment such as gearboxes, compressors, pumps, blowers, mixers, and conveyor units. Challenges in using couplings include end motion, misalignment, and separation of shafts. Torque-limiting couplings help prevent damage from excessive torque, but selecting and installing the right type, whether elastomeric or metallic, mechanical flexing, safety, flexible, or rigid, can be complex. Maintenance time and expenses are crucial factors, with elastic material wear and metal parts requiring regular attention. Vibration attenuation is essential to prevent high-frequency noise and user demand for reliable production equipment continues to drive rapid development in the industrial sectors, including automotive production and low-income countries. Torsional stiffness is a key consideration for motor and hydraulic couplings, with jaw-type couplings offering a solution for power transmission applications.

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Segment Overview 

This couplings market report extensively covers market segmentation by

1. Product 
• 1.1 Elastomeric couplings
• 1.2 Metallic couplings
• 1.3 Mechanical couplings
• 1.4 Others
2. Application 
• 2.1 Power generation
• 2.2 Metal and mining
• 2.3 Papermaking
• 2.4 Automotive
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Elastomeric couplings- The couplings market encompasses the production and sale of components that connect two mechanical parts. These components ensure a secure and efficient transfer of power and motion. Couplings come in various types, including flexible, rigid, and elastomeric, catering to diverse industry applications. Key players in this market focus on innovation, quality, and customer satisfaction to maintain a competitive edge. Market growth is driven by factors such as increasing industrial automation and the need for reliable and efficient power transmission solutions.

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Research Analysis

Couplings are essential components in power transmission systems, particularly in the automotive sector, where they connect rotating shafts and facilitate the transfer of torque and rotation mechanism between interconnected components. Industrial couplings are used extensively in various applications, including driving engines, motors, pumps, and other rotating machinery. The lifespan and productivity of these systems depend significantly on the quality of the couplings used. Couplings come in various types, including rigid, flexible, and torque-limiting, each designed to address specific usage requirements. Misalignment, relative axial motion, and separation of shafts are common challenges in power transmission systems that couplings help mitigate. Torque-limiting couplings, for instance, prevent damage to the connected components by limiting the torque that can be transmitted. When selecting coupling devices, it is essential to consider factors such as torques, end motion, and the mechanical mechanism of the system. Properly chosen couplings can enhance productivity, improve part quality, and reduce maintenance costs. In summary, couplings play a crucial role in ensuring the efficient and reliable operation of rotating machinery in various industries, including automotive.

Market Research Overview

The Couplings Market in the automotive sector is witnessing significant growth due to the increasing demand for power transmission and rotation mechanism in various applications. Industrial couplings are essential components in automotive manufacturing, power generation, and other industries, enabling productivity and part quality. Coupling vendors focus on efficiency and automation adoption to meet the demands of sectors such as food production, cement business, mining, renewable energy, and vehicle sector. Standard operating procedures, social distancing, and contactless operation are becoming crucial in the post-pandemic world. The International Energy Agency and various initiatives by governments, such as the Ontario Government, are promoting the expansion of industries like 5G infrastructure and renewable energy. Couplings are used in various sectors, including automotive, where they connect shafts in engines, motors, pumps, and other machinery. The lifespan and usage of industrial couplings depend on factors such as shaft distances, torques, and the type of coupling used, including elastomeric, metallic, mechanical flexing, safety, flexible, rigid, motor, and hydraulic couplings. In industries like cement, expansions and infrastructural expansion lead to an increase in cement output, requiring the use of various types of couplings for mixing, filtering lime, and fluid transfer. In the food and beverage industry, couplings play a crucial role in maintaining the production process, ensuring the safety of essential workers, and adhering to health measures during shutdowns. In the vehicle sector, couplings are used in the drivetrain, connecting the engine to the transmission and wheels, ensuring smooth operation and reducing vibration transfer. In the renewable energy sector, couplings are used in wind turbines and solar panels to transmit power efficiently. Coupling devices, such as torque-limiting couplings, help prevent damage to interconnected components by limiting the relative axial motion and misalignment. Selecting, installing, and maintaining couplings require careful consideration of factors such as torque limit, maintenance time, and expenses. Renault and Geely Holding Group are among the companies investing in smart manufacturing practices to improve the efficiency and productivity of their operations. The use of advanced materials like aluminum in the manufacturing of couplings also contributes to the overall performance and cost-effectiveness of industrial applications. In conclusion, the couplings market is a vital component of various industries, enabling power transmission, rotation mechanism, and productivity. The focus on efficiency, automation, and safety in the post-pandemic world is driving the demand for advanced coupling technologies and solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• 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

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 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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