According to Future Market Insights (FMI), the global fluid couplings market value is expected to reach US$ 1.8 billion in 2023, and cross US$ 2.8 billion by 2033. Overall sales of fluid couplings are likely to rise at a CAGR 4.6% during the forecast period 2023 to 2033.
The worldwide fluid couplings industry is expected to witness a positive growth trajectory during the projection period. It is anticipated to create an absolute revenue opportunity of US$ 1.0 billion through 2033.
Demand remains particularly high for constant fill fluid couplings due to their applications in a wide range of sectors. As per the latest analysis, constant fill fluid couplings segment is projected to accelerate at 4.2% CAGR through 2033.
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Increasing usage of fluid couplings across end-use sectors such as oil & gas, power generation, construction, mining, etc. is expected to drive growth in the global market through 2033.
Fluid couplings have become critical components used in sectors such as food & beverage, oil & gas, mining, and chemical, among others. Rapid growth of these sectors will therefore create a high demand for fluid couplings during the projection period.
Rising need for high efficiency, smooth power transmission across various sectors is another key factor boosting the global fluid coupling industry.
Fluid couplings are widely used in conveyor belts, mixers, reciprocating pumps, and other equipment for smooth power transmission. By absorbing shocks and damping torsional vibrations, fluid couplings help in enhancing service life of these equipment.
Increasing application in rail transportation systems, to carry out diesel locomotive operations as well as automated gear transmission operations will fuel fluid coupling demand.
Rising mining activities across the world is expected to fuel fluid coupling sales. This is because fluid couplings are being increasingly used in mining & bulk material handling equipment such as excavators, mills, mixers, conveyors, etc.
Key Takeaways from the Fluid Couplings Market Report:
- The global fluid couplings industry is predicted to reach a valuation of US$ 2.8 billion by 2033.
- Based on type, constant fill fluid couplings segment is set to expand at 4.2% CAGR during the forecast period.
- By end use, oil & gas segment is poised to exhibit a CAGR of 4.4% through 2033.
- The United States fluid couplings market is expected to thrive at 4.6% CAGR through 2033.
- Fluid coupling demand in South Korea is forecast to rise at 4.2% CAGR during the assessment period.
- The fluid couplings industry in China is anticipated to cross a valuation of US$ 0.606 billion by 2033.
- Japan market is projected to attain a valuation of US$ 0.508 billion by the end of 2033.
- The United Kingdom market is likely to progress at 4.3% CAGR throughout the assessment period.
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“The exponential growth of mining, oil & gas, construction, and power generation sectors is expected to uplift fluid coupling demand. To capitalize on emerging opportunities and gain profits, companies are looking to upgrade their portfolios. Says a lead Future Market Analyst.
Who is Winning?
ABB Group, Altra Industrial Motion Corporation, Fluid Hose & Coupling Inc., Hackforth Holding GmbH, Ningbo Parmicro Fluids Technology Co., Ltd., Rexnord Industries LLC, Siemens AG, Voith GmbH & Co. KGaA, Transfluid S.p.A., and Vulkan Drive Tech are few of the key fluid coupling manufacturers profiled in the report.
These key players are focusing on expanding their portfolios by launching new versions of their fluid couplings. They also employ strategies such as acquisitions, mergers, partnerships, collaborations, and alliances to strengthen their market presence.
Recent developments:
- In September 2022, ABB announced the acquisition of PowerTech Converter to expand its strong presence in the rail segment.
- In 2017, Voith introduced a new range of fill-controlled coupling for belt conveyor systems.
More Insights Available:
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the fluid couplings market presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals market projections based on type (constant fill fluid couplings, variable fill fluid couplings, slip fluid couplings, scoop control fluid couplings), end use (oil & gas, chemical, metals & mining, power plants, and others), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
Global Fluid Couplings Market Segmentation
By Type:
- Constant Fill Fluid Couplings
- Variable Fill Fluid Couplings
- Slip Fluid Couplings
- Scoop Control Fluid Couplings
By End Use:
- Oil & Gas
- Chemical
- Metals & Mining
- Power Plants
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
Efficiency in Motion: Buy Your Fluid Coupling Today for Uninterrupted Power Flow:
About Future Market Insights (FMI)
Future Market Insights (ESOMAR-certified market research organization and a member of the 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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