High Flexible Coupling Market Expected to Reach $3.6 Billion by 2032
WILMINGTON, DELAWARE, January 30, 2024 /EINPresswire.com/ — As per the high flexible coupling market outlook, the Flexible Shaft Couplings join two shafts end to end in a straight line, enabling them to rotate at the same speed. These flexible shafts enable axial movement and shaft misalignment.
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 high flexible coupling market was valued at $2.2 billion in 2022, and is estimated to reach $3.6 billion by 2032, growing at a CAGR of 5% from 2023 to 2032.
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Market Demands Dynamics:
Rise in infrastructure development and construction activities across the globe drives the demand for high flexible coupling which in turn is resulting in expansion of high flexible coupling market size.
In addition, these couplings are used in various construction machinery such as excavators, cranes, and concrete pumps, to enable torque transmission and misalignment compensation. Furthermore, an increase in construction activities is anticipated to boost the demand for material-handling devices such as excavators and pullers.
The increasing adoption of automation in industries requires efficient and reliable power transmission systems. High flexible couplings provide torsional flexibility, vibration damping, and misalignment compensation, making them ideal for automated machinery and systems.
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In addition, The expanding industrial sectors, such as manufacturing, energy, and automotive, are driving the demand for high flexible couplings. These couplings are used in applications like pumps, compressors, turbines, conveyors, and other rotating equipment. Moreover, ongoing advancements in materials, design, and manufacturing processes contribute to the development of high-performance high flexible couplings.
Improved materials, such as advanced polymers and composites, enhance the coupling’s strength, flexibility, and durability, attracting more users. Furthermore, the global shift towards renewable energy sources like wind and solar power has increased the demand for high flexible couplings.
Couplings are used in wind turbines and solar tracking systems to transmit torque and accommodate misalignments caused by wind and sun direction changes. The growth potential of the high flexible coupling market is significant in emerging economies that are experiencing rapid industrialization and infrastructure development. Countries like China, India, Brazil, and others present new opportunities for market expansion.
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Segments of The Market:
By End User Industry
Oil and Gas
North 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, Kawasaki Heavy Industries, Ortlinghaus-Werke GmbH, Stromag France, Flender, Renold PLC, The Timken Company, comintec, Renk aktiengesellschaft, VULKAN Group