Coupling Market is projected to grow at significant CAGR close to 4%
The coupling market is estimated to grow at a CAGR of 4.27% during the forecast period.
The coupling market is estimated to grow at a CAGR of 4.27% during the forecast period.”
NOIDA, UTTAR PARDESH, INDIA, November 17, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the coupling market is projected to grow at a CAGR of 4.27% between 2021 and 2028.— Knowledge Sourcing Intelligence
The growing demand for coupling from the automotive and power sectors has led to the expansion of the coupling market. Couplings are used in the power and energy sectors because of their capacity to effectively transport electricity between generators, turbines, motors, and other equipment. The expanding worldwide energy consumption, along with an increasing movement toward sustainable energy sources and infrastructure expansion, has spurred the power and energy sector growth, accelerating the demand for couplings hence driving market expansion.
A coupling is a system that joins two shafts to transfer power while allowing flexibility to compensate for misalignment or movement. It simplifies the coupling of spinning equipment components while allowing for shaft end modifications. Automotive, power and energy, mining, oil and gas, and a variety of other sectors use couplings. The coupling market is expanding rapidly, owing to increased energy and power transmission applications, as well as the expansion of the automobile sector.
The market is witnessing multiple collaborations and technological advancements, for instance, Ideal Tridon Group, a leading global manufacturer of clamping, coupling, and support systems, has completed the acquisition of Advanced Couplings Limited in April 2023. This strategic move boosts Ideal Tridon Group's position in the market by increasing its product line and using Advanced Couplings Limited's experience and capabilities. With this purchase, Ideal Tridon Group hopes to strengthen its global footprint and deliver better solutions to its clients throughout the world.
Access sample report or view details: https://www.knowledge-sourcing.com/report/coupling-market
Based on type the global coupling market is divided into sleeve coupling, split muff coupling, gear coupling, and others. Among these, the gear coupling led the market share and is likely to dominate over the forecast period. The factors such as adaptability and robust design can be attributed to its market dominance. Gear couplings are excellent at distributing torque between two shafts while tolerating misalignments and offering high torsional rigidity. They are appropriate for a wide range of applications, including heavy-duty industrial gear, due to their capacity to manage angular, parallel, and axial misalignments. Furthermore, gear couplings are well-known for their durability, dependability, and effectiveness in power transmission, making them a popular choice in a wide range of engineering systems.
Based on material the global coupling market is divided into aluminum alloy, stainless steel, and titanium. Among these, stainless steel is the most widely used in terms of material and is poised to expand significantly over the forecast period. Because of its remarkable corrosion resistance, stainless steel is widely employed in the worldwide coupling industry, making it a popular option in a variety of sectors. Its rust and corrosion resistance provides endurance and lifespan in tough situations, such as those exposed to dampness or harsh chemicals. Furthermore, stainless steel has high strength and durability, serving the needs of a wide range of applications, from manufacturing and chemical processing to marine and offshore sectors.
Based on end users the global coupling market is divided into automotive, power and energy, mining, oil and gas, and others. The power and energy section accounted for the majority of this segment's revenue. Coupling is vital in power generation because it allows for the effective transmission and integration of energy sources and electrical components. Coupling systems are required to link power-generating units to the power grid. Grid connection guarantees that the generated electricity is computed by the grid's frequency and voltage levels. They also enable the electricity to be seamlessly integrated into its present infrastructure. The coupling provides for smooth transactions and energy source smoothing. as well as optimizing power generation in terms of availability, cost, and environmental impact. As a result, higher coupling utilization in power production would drive the expansion of the worldwide market focus throughout the forecast period.
Based on Geography North America will account for a considerable proportion of the coupling market due to the region's expanding automobile manufacturing and mining operations, which is driving up demand for power transmission couplings. This growth can also be attributed to North American industrialization, growing infrastructure investment, and rising energy demand. Furthermore, couplings are widely utilized in the automotive, medical equipment, oil, gas, and other industries in North America.
As a part of the report, the major players operating in the global coupling market, that have been covered are Altra Motion (Regal Rexnord), Challenge Group (Ammega Group), ALMA driving Elements GmbH, KOREA COUPLING CO. LTD, Lovejoy LLC (Timken Company), Flender, Rathi Group, Coupling Corporation of America, ESCO Group.
The market analytics report segments the coupling market using the following criteria:
• BY TYPE
o Sleeve Coupling
o Split Muff Coupling
o Gear Coupling
o Others
• BY MATERIAL
o Aluminum Alloy
o Stainless Steel
o Titanium
• BY END-USER
o Automotive
o Power & Energy
o Mining
o Oil & Gas
o Others
• BY GEOGRAPHY
o North America
• United States
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• Germany
• France
• United Kingdom
• Spain
• Others
o Middle East and Africa
• Saudi Arabia
• UAE
• Others
o Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Others
Companies Profiled:
• Altra Motion (Regal Rexnord)
• Challenge Group (Ammega Group)
• ALMA driving Elements GmbH
• KOREA COUPLING CO. LTD
• Lovejoy LLC (Timken Company)
• Flender
• Rathi Group
• Coupling Corporation of America
• ESCO Group
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Ankit Mishra
Knowledge Sourcing Intelligence LLP
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