Latest News- Couplings Market: Elastomeric couplings is expected to lead the Product segment during 2024-2028

The Couplings Market is being driven by Stringent emission regulations

The Couplings Market is expected to grow at a CAGR of 1.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 205.7 million. In the manufacturing sector, the adoption of 3D printing technology for producing couplings is gaining traction. This innovative approach offers several advantages, including cost savings, reduced lead times, and the ability to customize end-products with ease. The manufacturing process itself remains consistent for various coupling types, making 3D printing an attractive option for numerous manufacturers. The material selection varies depending on the application, with plastics commonly used for low torque power transmission applications, and metals like stainless steel and titanium employed for industrial-grade couplings. The 3D printing process involves precise computer-controlled selective material deposition. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Elastomeric couplings
  • Metallic couplings
  • Mechanical couplings
  • Others
• Application
  • Power generation
  • Metal and mining
  • Papermaking
  • Automotive
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Stringent emission regulations
• Rising adoption of renewable energy
• Growth of global lumbar industry

However, the market also witnesses some limitations, which are as follows:

• Competitive pricing strategy adopted by low-cost Asian manufacturers
• Decrease in mining-related investments
• Fluctuating prices of raw materials

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Market Scope in Couplings Market Research Report

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Research Analysis Overview

In the automotive industry, couplings play a crucial role in transmitting power and rotation between interconnected components such as shafts, engines, motors, pumps, and other rotating machinery. Industrial couplings ensure productivity and part quality by accommodating relative axial motion and absorbing misalignment. Vendors offer various types of coupling devices, including torque-limiting couplings with adjustable torque limits, to enhance lifespan and usage in diverse applications. Selecting the appropriate coupling depends on factors like shaft size, power transmission requirements, and the type of end motion (fixed or floating).

Market Research Overview

The automotive sector's reliance on industrial machinery and components, specifically couplings, is significant for ensuring power transmission between shafts during rotation. Vendors supplying these components play a crucial role in enhancing productivity and part quality through efficiency and automation adoption. The global industrial machinery and supplies and components market, encompassing manufacturers of presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications, is projected to expand due to increasing industrial output in process and discrete industries. Developing countries' economic growth is driving the demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages, leading to capacity additions in these sectors. In response to the current business environment, standard operating procedures prioritize social distancing and contactless operation to ensure business continuity.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/