Farmington, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The Global Elastomeric Couplings Market Is Expected To Grow From USD 1.02 Billion In 2022 To USD 1.48 Billion In 2030, At A CAGR Of 4.5% From 2022 To 2030. The rising demand for power transmission necessitates elastomeric couplings made of synthetic materials and polymers, such as polyurethane. These material-flexible, lubricant-free connections are found in drive systems and compressors and are responsible for the enormous demand for elastomeric couplings in the automobile industry.
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Elastomer couplings offer superior working characteristics, including vibration damping and high displacement tolerance. Depending on the needs of the customer, elastomeric couplings are also available for sale with unique design options for special applications. Compared to traditional couplings, elastomeric couplings have been found to increase the equipment's longevity.
Elastomeric Couplings Market Segmentation Analysis:
Pumps, fans/blowers, compressors, mixers, and conveyors use Jaw Type. It provides superior performance and dependability. Additionally, it is straightforward to install and maintain. Its primary application is the attachment of fasteners to the main body and other components. The increasing demand for lightweight vehicles has resulted in an increase in global automotive production, which is anticipated to continue to fuel market expansion throughout the forecast period. Gear type is a mechanical component utilized in the production of elastomeric couplings. It helps to enhance the rolling speed and minimize the required torque. The types of gear include spur gear, bevel gear, helical gear, and hypoid gear.
Numerous applications, including pumps, fans/blowers, compressors, mixers, and conveyors, utilize elastomeric coupling. In 2015, the pump segment accounted for approximately forty percent of total sales. During the projected period, the market expansion is anticipated to be driven by an increase in demand for pumps with improved performance at a lower price, as well as an increase in construction activity in emerging nations such as China and India.
Fans/Blowers is the largest application segment and is anticipated to increase at the fastest rate throughout the projected period. This is a result of the growing demand for energy-efficient fans and blowers that may be utilized in residential, commercial, and industrial settings. Due to its high performance, gear-type elastomeric couplings are expected to grow at a faster rate than other types of elastomeric couplings.
Regional Outlook:
The North American flexible coupling market is predicted to grow at a quicker rate than the Asia-Pacific market during the forecast period. Rising product demand in many industrial sectors, such as automotive, aerospace, and construction, has contributed to the region's expansion. Additionally, favourable government policies and rising investments by big businesses are anticipated to fuel the region's expansion. Europe is the world's third-largest market for flexible couplings, and moderate increase is anticipated during the projection period. This expansion can be ascribed to rising product demand in numerous industrial sectors, including the automotive, construction, and mining industries. However, strict environmental restrictions and high production costs are projected to impede the region's growth over the forecast period. The flexible coupling market in Latin America is the fourth largest in the world and is predicted to develop at a slower rate than other regions over the forecast period. This slowdown can be ascribed to high manufacturing costs, which inhibited product demand in a variety of industrial sectors. The Asia-Pacific region is the largest market for flexible couplings worldwide in 2019, accounting for more than 35 percent of the total revenue.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 4.5% from 2023 to 2030 |
| Market Size in 2022 | USD 1.02 Billion |
| Revenue Forecast by 2030 | USD 1.48 Billion |
| By Types | Jaw Type, Gear Type, Tire Type, Dowel Pin Type, Other |
| By Applications | Pumps, Fans/Blowers, Compressors, Mixers, Conveyors, Others |
| By End User | Automotive industry, Heavy Machinery, Machine Tools |
| By Companies | Siemens (Germany), Regal Rexnord (U.S.), Dodge (U.S.), Altra Industrial Motion (U.S.), KTR (India), SKF (Sweden), VULKAN (India), Voith (Germany), LORD (U.S.), The Timken (U.S.), REICH (Germany), KWD (Kuwait), John Crane (U.S.), Renold (UK.), Tsubakimoto Chain (Japan), R+W Coupling (U.S.), and Others. |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Elastomeric Couplings Market Dynamics:
Market Growth Factor:
- Due to the expanding trend of engine shrinking and weight reduction, the automobile industry's demand for elastic couplings is increasing.
- In the industrial sector, elastic couplings are in high demand due to their capacity to reduce vibration and noise.
- In the oil and gas business, the growing popularity of hydraulic fracturing has boosted the demand for reliable and robust elastic couplings.
- The rapid expansion in the Asia Pacific, particularly in China and India, is a result of the countries' increasing industrialization and urbanization rates.
Elastomeric Couplings Market Key Segments Covered:
Top Market Players:
Siemens (Germany), Regal Rexnord (U.S.), Dodge (U.S.), Altra Industrial Motion (U.S.), KTR (India), SKF (Sweden), VULKAN (India), Voith (Germany), LORD (U.S.), The Timken (U.S.), REICH (Germany), KWD (Kuwait), John Crane (U.S.), Renold (UK.), Tsubakimoto Chain (Japan), R+W Coupling (U.S.), and Others.
Elastomeric Couplings Market by Types:
- Jaw Type
- Gear Type
- Tire Type
- Dowel Pin Type
- Other
Elastomeric Couplings Market by Applications:
- Pumps
- Fans/Blowers
- Compressors
- Mixers
- Conveyors
- Others
By End User
- Automotive industry
- Heavy Machinery
- Machine Tools
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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