High Flexible Coupling Market By Types (Elastomeric Couplings, Grid Coupling, Disc Coupling, Others), By Material (Steel, Rubber, Others), By End User Industry (Oil and Gas, Automotive, Power Generation, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The High flexible couplings market was valued at $2,238.7 million in 2022 and is expected to reach $3,629 million by 2032, registering a CAGR of 5.0% from 2023 to 2032.
The High Flexible Couplings join two shafts end to end in a straight line so that they may rotate at the same speed. Axial movement and shaft misalignment are also possible with these flexible shafts. Misalignment is utilized to soften vibrations and transfer torque from one shaft to another. It is frequently employed in fields such as the oil and gas industry, mining, industrial applications, and others where gearboxes with severe torque are necessary.
The automobile industry uses a variety of tools for testing and connecting a car to a trough. As a result, high flexible couplings are in high demand in this field. In addition, the increase in use of electric vehicles internationally has expanded the market for high flexible couplings. Furthermore, the International Energy Agency (IEA) reported that 6.7 million plug-in electric light vehicles (PEVs) were sold in 2021. Moreover, governments have launched several programmed to maintain expansion of the automobile industry. For instance, Egypt adopted a national plan for localizing the automobile sector in June 2022. The plan intends to increase footprints of Egypt in burgeoning vehicle markets of Africa and forge strong commercial and investment ties with key regional trading partners to achieve sustained development growth for all parties. Such government developments further accelerate the demand for high flexible couplings.
However, high flexible coupling is typically made of metal and specialized materials such as steel and aluminum, owing to their high strength. Any fluctuations in the prices of steel and aluminum thus make it difficult for the market players to stay profitable and decide on the budgets. For instance, the prices of hot rolled steel in the U.S. have increased by more than 215% to $1,825 since March 2020. Prior to that, its prices have been in the range of $500 to $800 from at least 2017. Moreover, the prices of silicon metals increased two-fold since COVID-19. Such fluctuations play an instrumental role in restraining the growth of the highly flexible coupling market.
In addition, the demand for high flexible coupling is expected to grow with the increase in adoption of industrial automation and robotics. These coupling facilities smooth power transmission and compensate for misalignments in robotics arms, automated assembly lines, and material handling systems. In addition, the emergence of industrial automation and smart robotic applications platforms is an important factor for the overall growth of automation components market in manufacturing, aerospace, and other industries. Moreover, key market players are focused on the development of new products to strengthen their product portfolio. For instance, in June 2022, KTR Systems GmbH launched its new intermediate shaft coupling from the Rotex family. Aluminum is used for the shaft, which enables shaft distances of up to 4,000 mm. Five sizes of the ROTEX ZRS are offered for torques up to 560 Nm. Such advancements in automation components are expected to offer lucrative opportunities for the expansion of the market during the forecast period.
The high flexible couplings market is segmented into type, material, end user, and region. On the basis of type, it is segregated into elastomeric coupling, grid coupling, disc coupling, and others (membrane couplings, and universal coupling). On the basis of the material, it is classified into rubber, steel, and others (ceramics, plastics, and composite materials). Based on end-user industry, the market is divided into automotive, oil & space, power generation, and others (plastic, and transportation). On the basis of region, it is analyzed across). North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Spain, Italy, Netherlands, and Rest of Europe). Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition analysis The major players profiled in the high flexible couplings market include VULKAN Group, Flender, The Timken Company, Renold PLC, KTR Systems GmbH, Stromag France, Comintec, Renk aktiengesellschaft, Ortlinghaus-Werke GmbH, Kawasaki Heavy Industries
Major companies in the market have adopted strategies such as business expansion, partnership, acquisition, product development, and product launch to offer better products and services to customers in the Europe centralized refrigeration system market.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the high flexible coupling market analysis from 2022 to 2032 to identify the prevailing high flexible coupling market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the high flexible coupling market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global high flexible coupling market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypesOthers
Elastomeric Couplings
Grid Coupling
Disc Coupling
By MaterialSteel
Rubber
Others
By End User IndustryOil and Gas
Automotive
Power Generation
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
KTR Systems GmbH
Flender
comintec
Renk aktiengesellschaft
Renold PLC
Kawasaki Heavy Industries
VULKAN Group
The Timken Company
Stromag France
Ortlinghaus-Werke GmbH
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