The global couplings market is valued at US$ 1.3 billion in 2023 and is expected to reach US$ 1.7 billion by 2033. This is because worldwide sales of couplings are predicted to increase steadily at a CAGR of 3% through 2033. The couplings market refers to the industry that produces and sells mechanical couplings used to connect two rotating shafts together. These couplings are typically used in machinery and equipment such as pumps, generators, compressors, and turbines
There are many different types of couplings available on the market, including flexible couplings, rigid couplings, and fluid couplings, among others. Each type of coupling has its own specific benefits and applications. The global couplings market is expected to continue growing due to increasing demand from various industries, such as oil and gas, power generation, and automotive. The market is also being driven by advancements in technology, which are leading to the development of more efficient and reliable couplings
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Key Takeaways from Market Study
- The global couplings market is valued at US$ 1.3 billion in 2023.
- Demand for couplings in China is predicted to expand at a CAGR of 4.5% during the forecast period.
- Sales of elastomeric couplings are expected to rise at a CAGR of 4% through 2033.
- Demand for metallic couplings is predicted to increase at a CAGR of 3% from 2023 to 2033.
Region wise Insights
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Key players in the couplings market are being encouraged by rapid industrialization and expansion in the aerospace & defence, healthcare, and industrial sectors to produce cutting-edge products to fulfil end users' demand, which is further enhancing their earnings.
Leading firms in this market are using a variety of organic and inorganic marketing strategies, according to Fact.MR, a source of market research and competitive information.
- The development of its brand-new Rotex series intermediate shaft couplings was unveiled by KTR Systems GmbH in June 2022. The shaft lengths that may be supported by these aluminium shaft couplings are up to 4,000 mm.
Key Companies Profiled
- ABB Ltd.
- Altra Industrial Motion Corporation
- Boston Gear
- Challenge Power Transmission Ltd
- Camozzi Industries spa Societa Unipersonale
- Bea Ingranaggi SpA
- Chr. Mayr GmbH + Co. KG
- ALMA driving elements GmbH
- Colder Products Company
- Colly Flowtech
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Key Questions Covered in the Couplings Market Report
Who are the major players operating in the couplings market and what are their market shares, product portfolios, and business strategies?