The global industrial coupling market size is expected to reach USD 242.6 Million in 2022, according to Future Market Insights. The market is estimated to grow at a CAGR of 11.0% during 2022 to 2032 to reach USD 689.3 Million by 2032.
The demand for industrial coupling is projected to rise, owing to:
| Report Attribute | Details |
|---|---|
| Industrial Coupling Market Historical Growth Rate (2017 to 2021) | 8.7% |
| Industrial Coupling Market Value (2022) | USD 242.6 million |
| Industrial Coupling Market Anticipated Forecast Value (2032) | USD 689.3 million |
| Industrial Coupling Market Projected Growth Rate (2022 to 2032) | 11.0% |
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China and Australia are two of the four largest mining nations in the world. China is the world's top producer of mining ores. As a result, the need for industrial couplings in the region is being driven by the region's increasing mining output. Furthermore, the cement business in India is expanding significantly, according to Elecon Engineering Company.
Due to infrastructural expansion, India's cement output is anticipated to increase to 800 million tonnes by 2030. The market for industrial couplings is thus being driven up in India by the rising demand for infrastructure, residential, commercial, and industrial buildings, as well as cement.
The market for industrial couplings is anticipated to be second-place, dominated by the North American region. The demand for industrial coupling is likely to rise shortly as end-use sectors, including food and beverage and pharmaceuticals, are predicted to expand considerably in the area. This region's need for industrial coupling is rising due to the developing vehicle sector.
In North America, electricity generation is also a significant user of industrial couplings. In terms of power generation, the North American industrial coupling market is anticipated to expand due to rising investment in the power-generating markets of the United States and Canada and a focus on producing renewable energy.
Manufacturers may now transmit messages to other devices, such as additional safety couplings, torque limiters, and devices connected to the powertrain, when any industrial coupling exhibits aberrant behavior thanks to the usage of sensors in the industrial coupling. It serves as a substitute for the mechanical clutch and is utilized in the power transmission sector, the marine system, and the vehicle transfer system.
Additionally, with increased industrialization and infrastructure projects in emerging nations, investment in diverse projects in industries including mining, paper, steel production, automotive, and marine has been steadily rising. One of the biggest problems facing the world's industrial coupling producers is the high cost of R&D and technology.
A threat to the expansion of the industrial coupling market is anticipated to come from the availability of substitutes in several industrial sectors for light-duty applications like clutches, gears, and other coupling materials.
Industrial couplings can also perform various tasks, such as offering a variety of methods to detach the driving engine or motor from the driven machinery or a pump. Correct alignment of the industrial couplings and shafts helps to guarantee proper equipment operation.
The equipment may malfunction or sustain damage if the shafts are not built with perfect alignment, which would significantly shorten the equipment's lifespan and diminish its usability. Industrial couplings are also used to permit tiny quantities of equipment misalignment, lessen or eliminate vibration transfer from one machine component to another, or enable relative axial motion at an angle.
In the chemical and automotive industries, industrial couplings are in great demand. Numerous tools for testing and connecting a vehicle to a trough are used in the automotive sector, which is done with industrial couplings.
In addition, the chemical industry uses industrial couplings to link the numerous vessels used for mixing, filtering lime, and other chemical operations where fluid must be moved from one vessel to another while undergoing various procedures.
Additionally, many industrial applications for industrial couplings include the natural gas, chemical, oil, and water treatment industries. There has been a noticeable increase in coupling's market popularity in the gas pipe building sector.
Nevertheless, declining exports and rising labor costs are the main causes of the global market for industrial couplings adapting. Industries have recently concentrated primarily on improving energy efficiency, resulting in a significant demand for industrial couplings. Buyers increasingly prioritize value enhancements while making purchases due to the advancements in industrial couplings product technology.
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The development of the industrial couplings market needs to be improved by a lack of cutting-edge application possibilities. In product-based technology, the coupling sector has seen advancements and breakthroughs. Most companies are working to create industrial couplings that take up less space, utilize lightweight materials, and have enhanced indolence properties.
Global auto sales are likely to increase overall, but by 2030, the annual growth rate is predicted to fall from 3.6% during the previous five years to about 2 percent.
The growth of innovative mobility services like vehicle sharing and e-hailing, as well as macroeconomic reasons, will be the main drivers of this decline. Hence, the global industrial coupling market has several potential prospects due to the increased usage of industrial coupling in the automotive industry.
The connection offers mechanical flexibility to shafts, lowers shaft vibrations, and reduces misalignment in the automobile industry. In addition, the demand for vehicle overload protection is expanding, fostering the development of industrial coupling in the automotive sector.
In 2022, the Asia Pacific region owns a sizeable portion of the worldwide industrial coupling market and dominates the market. The region is also anticipated to be the fastest-growing market (2022 to 2032).
This expansion can be ascribed to expanding industrialization, rising infrastructure investment, and rising energy consumption in emerging nations like China and India. In addition, industrial couplings are widely used throughout the automobile, medical equipment, oil, gas, and other sectors in the Asia Pacific.
As a result, the Asia Pacific region's market for industrial couplings is anticipated to be favorable. Additionally, certain developing nations, like Japan, are undergoing significant technical improvements in the automobile industry, which is driving up the use of industrial couplings and the market.
North America holds the second largest Market share. Due to the strong demand for industrial couplings, the market in the United States is predicted to increase.
Furthermore, the presence of major companies in the nation is anticipated to spur market expansion. End-use industries affected by the pandemic include cement, oil & gas, electricity, chemicals, and food & beverage. However, the ease of lockdowns and financial incentives given by governments to boost the economies have led to a recovery in demand in 2022.
Europe represents the third-largest market share as a result of major expenditures made in oil and gas exploration operations and significant advancements seen across a variety of end-use sectors, including food processing.
According to newbies, maintaining technological leadership involves enhancing one's competitive edge. The effectiveness of goods is considerably increased through industrial coupling. Startups are thus creating tools to help utility providers and grid owners manage industrially coupled resources.
Example:
Larger companies have their own technologically advanced teams that are aware of the shifting market dynamics. They have skilled mechanical engineers and designers whose collective knowledge has aided the business in reaching its current status. Additionally, they always keep up with technological and commercial changes.
The ability of the manufacturers to provide customers with perfectly-fitting couplings that comply with the standards hinges on the fact that different sectors demand couplings of varying sizes. Due to the developments, the sector is undergoing at the moment, customers also prioritize value additions when making industrial coupling purchases.
Example:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 11% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017-2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Application, Region |
| Regions Covered | North America; Latin America; The Asia Pacific; Middle East and Africa; Europe |
| Key Countries Profiled | U.S, Canada, Brazil, Argentina, Germany, U.K, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled |
Altra Industrial Motion Corp.; Colossus; Daido Precision Industries Ltd.; Emerson Electric Co.; Dandong Colossus Group Co., Ltd.; John Crane Ltd.; Siemens AG; Baldor Electric; Industrial Clutch Parts Ltd.; KTR Kupplungstechnik GmbH, Chr; Tsubakimoto Chain |
| Customization | Available Upon Request |
The global Industrial coupling market is expected to progress at a CAGR of 11% (2022-2032).
Asia Pacific is expected to hold the highest share in the global Industrial coupling market.
Global Industrial coupling market is predicted to account for USD 689.3 million by 2032.
| Market Size 2023 | USD 15,451.6 million |
|---|---|
| Market Size 2033 | USD 25,409.8 million |
| Value CAGR (2023 to 2033) | 5.1% |
| Market Size (2022) | US$ 24.8 Billion |
|---|---|
| Market Size (2032) | US$ 39.3 Billion |
| Value CAGR (2022 to 2032) | 4.7% |
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