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).
Industrial couplings are used to connect the rotating parts of a machine in the industry. A coupling is used to connect the drive shaft of a power source to a shaft on a driven machinery or a piece of driven machinery. The drive shaft of a power source can be an electric motor or a diesel engine, and the shaft on a piece of driven machinery can be a pump or an electric generator.
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The driving purpose of an industrial coupling is to transfer rotational motion at maximum efficiency from one shaft to another shaft. Industrial couplings are also used to perform different additional functions like providing various ways as a means for disconnecting the driver engine or motor from the driven equipment or a pump.
The Industrial couplings and shafts are made correctly aligned which helps to ensure the functions of equipment correctly. If the shafts are not made to align properly, the equipment may fail to work or can damage, and the life of the equipment and its availability will be fully reduced. Industrial couplings are also used to allow relative axial motion at an angle or reduce the vibration transfer from one machine component to another or fully eliminate it and allow small amounts of misalignment in the equipment.
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, in the chemical industry where 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 Industrial couplings.
Also, Industrial couplings have a wide array of industrial applications including the natural gas industry, chemical industry, oil industry, and water treatment companies. Additionally, the market has registered a rise in acceptance for coupling in the gas pipe construction industry.
However, deteriorating exports and increasing cost of labor are major factors accountable for the 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.
Furthermore, strategic expansions relating to the coupling market in Nigeria, Indonesia, Mexico, and Turkey are likely to offer significant growth opportunities. However, Industrial coupling product technology has developed, and consequently, customers pursue value additions as a major purchase standard for Industrial co couplings.
Also, the 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 industries are developing Industrial couplings that involve less space, and the use of low-weight resources with advanced indolence qualities for manufacturing Industrial couplings.
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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
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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