According to Future Market Insights, the size of the worldwide industrial coupling market is anticipated to reach US$ 242.6 Mn in 2022. According to estimates, the market would increase at a CAGR of 11.0% from 2022 to 2032, reaching US$ 689.3 Mn.
The following factors will cause the demand for industrial coupling to increase:
Industrial couplings can perform a variety of tasks, such as separating the driving engine or motor from the machinery or pump that it is used to drive. Shafts and couplings used in industry need to be correctly aligned for optimal equipment performance.
The equipment may malfunction or sustain damage if the shafts are not produced with exact alignment, which would significantly shorten the equipment’s lifespan and usage.
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Industrial couplings Market: Overview
Industrial couplings have a very high demand in the automobile and chemical industry. The automobile industry has numerous equipment’s of the vehicle to be tested and connected with the support of a trough which is performed through Industrial couplings.
Moreover, the chemical industry where the different processes such as mixture, lime filtering, etc. are done and the fluid is to be shifted from one vessel to another passing through various processes and is connected with the support of an Industrial couplings.
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.
Startups are Inventing Fresh Technological Advancements to Attain Competitive Edge
According to newbies, maintaining technological leadership involves enhancing one’s competitive edge. The effectiveness of goods is considerably increased through industrial coupling. Startups are thus creating tools to help utility providers and grid owners manage industrially coupled resources.
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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
Industrial couplings Market: Regional Segmentation
Geographically, the global CNC Controller market is designed for seven regions namely, North America, Western Europe, Asia Pacific except Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan. The demand and growth of the Industrial couplings market in developed regions is expected to register a steady growth over the estimates period.
The delimited capital expenditures through numerous end user industry verticals such as oil and gas and manufacturing industry, has significantly inhibited the growth of Industrial couplings market. However, the increasing demand in developing nations such as China, Brazil, India, Russia and the Eastern European countries is predicted to increase Industrial couplings market demand.
The global Industrial couplings market is segmented by type, application, and by geography.
Based on the type, Industrial Couplings Market is segmented into:
- Flexible Elastic Coupling
- Rigid Coupling
- Flange Coupling
- Torsionally-Rigid Flexible Coupling
Based on the application, Industrial Couplings Market is segmented into:
- Automotive
- Medical Equipment
- Engine
- Aerospace
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- MEA
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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