Latest News- Flexible Shaft Couplings Market: Elastomeric couplings is expected to lead the Product segment during 2025-2029

The Flexible Shaft Couplings Market is being driven by Increased demand for flexible shaft couplings from high speed and high torque applications

The Flexible Shaft Couplings Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 355.7 million. The oil and gas industry is a significant end-user in the global flexible shaft couplings market, with the expansion of oil terminals being a key driver. These terminals, which serve as crucial centers for oil and gas storage and transportation, necessitate the use of gas turbines and efficient supply systems in midstream and downstream activities. The growth of oil terminals positively impacts the demand for flexible shaft couplings, as they ensure the reliable transmission of power between rotating machinery components. Additionally, the upstream sector's fluctuations in oil and gas prices necessitate robust pipeline infrastructure to maintain the high consumption pattern of these resources, further boosting the demand for flexible shaft couplings. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Elastomeric couplings
  • Mechanical couplings
  • Disc couplings and others
• Application
  • Oil and gas industry
  • Power plants
  • Mining and metal industry
  • Others
• End-user
  • Tire manufacturing
  • Steel industry
  • Power and energy
  • Automotive industry
  • Others
• Type
  • Compensating
  • Stepper and servo motors
  • Fans and blowers
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • Mexico
    • 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: 

• Increased demand for flexible shaft couplings from high speed and high torque applications
• Ease and flexibility provided by flexible shaft couplings in operations
• High efficiency of flexible shaft couplings in material handling applications

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

• Improper selection of couplings for specific applications
• Lubrication and misalignment related issues in flexible shaft couplings
• Increased reactionary load

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Market Scope in Flexible Shaft Couplings Market Research Report

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Research Analysis Overview

The Flexible Shaft Couplings market encompasses the supply of these components for industries such as oil and gas, mining, and manufacturing. Technological advancements have led to improved designs for same line end-to-end applications, addressing issues like axial movement, shaft misalignment, and vibrations. Mining industry applications require extreme torque transmission capabilities, while the steel and manufacturing industries demand high torque and high-speed capabilities. Prognosis periods and export conditions are essential considerations for this market.

Market Research Overview

In the industrial machinery and supplies market, the segment for flexible shaft couplings is experiencing significant growth, particularly in sectors such as oil and gas and mining. This expansion is driven by the increasing demand for industrial machinery and components in these industries, fueled by technological advancements and the need to meet rising energy and resource production requirements. According to Technavio, the global industrial machinery and supplies market, which encompasses companies manufacturing presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications, is projected to grow due to capacity additions in process and discrete industries, including energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages, in developing countries.. 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/