Dublin, Oct. 12, 2021 (GLOBE NEWSWIRE) -- The "Couplings - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Couplings Market to Reach US$1.5 Billion by the Year 2026
The global market for Couplings estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$1.5 Billion by 2026, growing at a CAGR of 2.3% over the analysis period. Elastomeric, one of the segments analyzed in the report, is projected to grow at a 2.8% CAGR to reach US$689.1 Million by the end of the analysis period.
The rising focus among industries on improving energy efficiency is expected to augment demand for couplings. Growth is also anticipated to be driven by the market expansion in countries such as Turkey, Nigeria, Indonesia, and Mexico among other developing nations. In recent years, the market has witnessed several advancements in product technology. Companies are focusing on the use of light-weight materials that have improved inertia characteristics for producing couplings, and also on making couplings that are compact.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Metallic segment is readjusted to a revised 2.2% CAGR for the next 7-year period. This segment currently accounts for a 27.2% share of the global Couplings market. Demand for elastomeric couplings is rising on account of the benefits such as improved flexibility and different levels of torsional softness they offer in comparison to metal couplings.
The rising adoption of machinery, industrial drives, and HVAC is anticipated to fuel the demand for elastomeric couplings. Metallic-style couplings are completely made of metal. These couplings are highly compact and can manage significant speeds. Given their metallic nature, this kind of coupling can be used for prolonged equipment life in applications that involve high speed.
The U.S. Market is Estimated at $368.5 Million in 2021, While China is Forecast to Reach $283 Million by 2026
The Couplings market in the U.S. is estimated at US$368.5 Million in the year 2021. The country currently accounts for a 23.11% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$283 Million in the year 2026 trailing a CAGR of 3.7% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.5% and 1.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR while Rest of European market (as defined in the study) will reach US$335.9 Million by the end of the analysis period.
Asia-Pacific is expected to lead the global market, driven by strong demand from the automotive and other manufacturing sectors in India and China. Europe, with the presence of several industries, is also expected to be a key market globally.
Mechanical Segment to Reach $302.7 Million by 2026
The mechanical coupling is capable of accepting misalignment from rolling, sliding, or rocking of metal surfaces. In the global Mechanical segment, USA, Canada, Japan, China and Europe will drive the 1.4% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$209.7 Million in the year 2020 will reach a projected size of US$231.9 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$37.1 Million by the year 2026, while Latin America will expand at a 1.5% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Effect of the Pandemic on Couplings Market
- The Pandemic Unleashes Unique Challenges for Coupling Manufacturers
- Contingency Plans for Business Continuity
- Performance Snapshot of Major End-Use Markets for Couplings
- Couplings: An Introduction
- Elastomeric, Metallic and Mechanical Couplings
- Global Market Prospects & Outlook
- Analysis by Type
- Regional Analysis
- Competitive Scenario
- Recent Market Activity
- Select Global Brands
2. FOCUS ON SELECT PLAYERS (Total 135 Featured)
- ABB Group
- ALMA driving elements GmbH
- Altra Industrial Motion Corporation
- Chr. Mayr GmbH + Co. KG
- Cross & Morse
- ERIKS NV
- JAKOB Antriebstechnik GmbH
- KTR Systems GmbH
- MECVEL S.r.l.
- Motion Industries, Inc.
- NBK America LLC
- Rexnord Corporation
- SKF Group
- Timken Company
- Tsubakimoto Chain Co.
- Voith GmbH & Co. KGaA
3. MARKET TRENDS & DRIVERS
- Flexible Shaft Couplings Gain Traction
- A Review of Gear Couplings Market
- Fluid Couplings Market: An Overview
- Fluid Couplings as the Ideal Place for Sensors
- Advancements in Servomotor Coupling Technology
- Safety Coupling for the International Space Station (ISS)
- Digital Automatic Couplings (DACs) Enhance Efficiency
- Use of High-tech Materials in Coupling Technology
- Importance of Automotive Driveshaft Couplings
- Established Role in Aerospace Industry
- Sluggish Tide in Oil & Gas Sector Niggles Market Momentum
- The US Oil & Gas Industry: Outlook for 2021
- Water & Wastewater Industry: Infrastructure Development Drives Demand
- Elastomeric Couplings Gain Preference in Wastewater Treatment Facilities
- Rugged Couplings Gain Traction in Hazardous Area Applications
- Mainstream Role in Chemicals Industry Bodes Well
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/7slkl7
