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, 3D printing technology is increasingly being adopted for producing couplings due to its cost-effective nature and shorter lead times. This technology enables easier customization of end-products, making it an attractive option for various industries. The material selection for 3D printing couplings varies depending on the application requirements. For instance, low torque power transmission applications may utilize plastics, while industrial-grade couplings can be fabricated using metals like stainless steel and titanium. 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

The Couplings Market encompasses various types of couplings, including High-Torque, High-Speed, Zero-Backlash, Overrunning, Backstop, Freewheel, Limited-Slip, Spring-Loaded, Fluid Drive, Variable Speed Drive, Direct Drive, Belt Drive, Chain Drive, and Gear Drive. Selection criteria for couplings consider factors such as torque and speed requirements, zero-backlash, overrunning capabilities, safety, noise, vibration, maintenance schedule, monitoring, diagnostics, predictive maintenance, and industry regulations. Key considerations include coupling performance, reliability, durability, cost, and market trends. The Couplings Industry is growing, with significant market share held by key players, and forecasted growth driven by increasing demand for efficient power transmission solutions in various applications. Coupling Case Studies and Best Practices provide valuable insights into effective coupling usage and optimization. Industry regulations play a crucial role in ensuring coupling safety and compliance.

Market Research Overview

In the expansive industrial landscape, the global market for machinery and supplies components encompasses enterprises specializing in the production of industrial machinery and components. This market's size is determined by the consolidated revenue generated by manufacturers supplying equipment for sectors such as presses, machine tools, compressors, pollution control systems, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. The market's growth is fueled by the increasing industrial output in process and discrete industries, driven by the burgeoning demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing economies. Key product offerings within this market include Fluid Coupling, Mechanical Coupling, Shaft Coupling, Torque Coupling, Flexible Coupling, and Rigid Coupling, as well as Hydraulic Coupling.. 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/