South Korea jaw and bellows couplings market analysis and industry forecast 2033

WILMINGTON, DE, UNITED STATES, September 25, 2024 /EINPresswire.com/ -- According to the report, the South Korea jaw and bellows couplings market was valued at $22.3 million in 2022 and is projected to reach $35.0 million by 2032, registering a CAGR of 4.6% from 2024 to 2033.

Bellows and jaw couplings offer distinct advantages over other types of flexible couplings due to their specific design features and performance capabilities. Bellows couplings excel in applications requiring precise torque transmission with minimal backlash and angular misalignment tolerance. The bellow elements allow high torsional stiffness while maintaining flexibility, making them ideal for high-precision machinery and systems where accuracy is paramount, such as in medical equipment and precision manufacturing.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐟𝐨𝐫 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/A325218

Driving Demands:

South Korea ranks among the global leaders in robot density, with 855 robots per 10,000 manufacturing employees as reported by the International Federation of Robotics (IFR) in 2022. This high density requires reliable and efficient coupling solutions such as jaw couplings, as industries increasingly automate and optimize their production processes.

Concurrently, the country has witnessed substantial growth in establishment of renewable energy projects, particularly in wind and solar power projects. With ambitious targets to achieve 20% of its energy from renewables by 2030, the South Korean government's push amplifies the demand for durable and high-performance jaw couplings, essential for ensuring smooth operations and efficient energy transmission in these sectors.

Jaw couplings, on the other hand, are valued for their simplicity, reliability, and ability to dampen vibrations and shock loads. They are effective in transmitting torque while accommodating moderate shaft misalignments, which enhances equipment durability and reduces maintenance requirements. This makes jaw couplings suitable for a wide range of industrial applications, including pumps, compressors, and general machinery.

Out of the two types of couplings under consideration that is jaw and bellow couplings, jaw couplings held the larger market share in terms of revenue in 2023, owing to their lower prices and versatility. On the other hand, the bellow coupling segment is expected to grow with a higher CAGR during the forecast period.

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Key Segments:
On the basis of application, the market is segmented into mining & metals industry, automotive, aerospace & defense, oil & gas, and others. In 2023, the aerospace and defense segment accounted for the highest market share in terms of revenue.

However, the automotive segment is expected to grow with the highest CAGR during the forecast period. The South Korea Jaw and Bellows Couplings market has witnessed an unprecedented growth in the recent years, owing to expanding manufacturing facilities in the country. Product developments and continuous customizations in the automotive and aerospace industry have led to improvement in the couplings required for their production.

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Key Findings of The Study

The report provides an extensive analysis of the current and emerging South Korea jaw and bellows couplings market trends and dynamics.
Depending on application, the aerospace and defense segment dominated the South Korea jaw and bellows couplings market, in terms of revenue in 2023 and automotive segment is projected to grow at a significant CAGR during the forecast period.
By type, the jaw coupling segment has registered highest revenue in 2023.
The key players within the South Korea jaw and bellows couplings market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the South Korea jaw and bellows couplings industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.

David Correa
Allied Market Research
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