Portland,OR, June 16, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “High flexible coupling Market by Type (Elastomeric coupling, Grid coupling, Disc coupling, and Others (Membrane couplings, and Universal coupling), by Material (Rubber, Steel, and Others (Ceramics, Plastics, Composite Materials), End-user Industry (Oil & Gas, Automotive, Power generation, and Others (Plastic, and Transportation: Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global high flexible coupling industry generated $2,238.7 million in 2022, and is anticipated to generate $3,629 million by 2032, witnessing a CAGR of 5.0% from 2023 to 2032.
Download Free Sample Report @ https://www.alliedmarketresearch.com/request-sample/75120
Prime determinants of growth
The growth of the automotive sector along with the rise in infrastructural development along with the rise in number of construction projects are factors driving the growth of the market. However, the fluctuating price of raw materials along with lack of technical proficiency and awareness are factors limiting the growth of market. On the contrary, development of industries in emerging countries along with integration of industrial automation and robotics in different manufacturing machinery are expected to offer lucrative opportunities for the growth of the market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2,238.7 million |
| Market Size in 2032 | $3,629 million |
| CAGR | 5.0% |
| No. of Pages in Report | 236 |
| Segments covered | Type, Material, End User Industry, and Region. |
| Drivers | Growth of Automotive Sector Rise in Infrastructural Development and construction project Increase in consumer spending on home remodeling Development of Industries in Emerging Countries |
| Opportunities | Integration of industrial automation and robotics in different manufacturing machinery |
| Restraints | Fluctuating Price of Raw Materials Lack of Technical Proficiency along with Lack of Awareness |
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a negative impact on the global high flexible coupling market, owing to a downfall in manufacturing activities during the lockdown.
- Although the high flexible coupling industry faced losses, recovery of industries in different developing regions are on its way.
The Elastomeric Coupling segment to maintain its leadership status throughout the forecast period
Based on type, the elastomeric coupling segment held the highest market share in 2022, accounting for more than two-fifths of the global high flexible coupling market revenue owing to factors such as an increase in demand from end-use industries, such as automotive, aerospace & defense, and infrastructure & construction. However, grid coupling segment is projected to manifest the highest CAGR of 7.4% from 2022 to 2032, as such couplings are in greater demand owing to the growing focus on renewable energy and grid modernization.
Buy This Research Report (236 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/checkout-final/6b18d023e567d52d208fc03ab4787117
The Steel segment to maintain its leadership status throughout the forecast period
Based on material, the steel segment held the highest market share in 2022, accounting for more than two-fifths of the global high flexible coupling market as metal materials such as steel and alloys composition continue to be widely utilized in the coupling industry due to their high strength, durability, and capacity to endure tremendous loads and harsh conditions. However, the rubber segment is projected to manifest the highest CAGR of 6.4% from 2022 to 2032 as such material helps in increasing coupling performance and lifespan due to its superior elasticity. Rubber also has low friction properties, which minimize energy losses during power transmission and boost efficiency.
The Oil & Gas segment to maintain its lead position during the forecast period
Based on end user industry, the oil & gas segment accounted for the largest share in 2022, contributing to nearly one-third of the global high flexible coupling market revenue, and is projected to maintain its lead position during the forecast period. Growth in exploration and production activities, pipeline construction, and offshore drilling operations drive the coupling market expansion in this industry. However, the power generation segment is expected to portray the largest CAGR of 7.0% from 2023 to 2032. Rise in demand for coupling due to the expansion of renewable energy installation, such as wind and solar power, as well as the Maintenance and upgrade of conventional power plants, drive the growth of the coupling market in this sector.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global high flexible coupling market revenue. The demand for high flexible coupling is projected to expand in the region because of increased focus of Europe on the production of renewable energy such as wind, solar, hydro, and biomass. According to a report published on renewable energy in Europe in March 2020, by the European Commission, the European power production from renewable resources surpassed the power produced by coal in 2020. Furthermore, Finland, Sweden, Denmark, Austria, and Latvia were the five nations with the largest proportion of renewable energy generation. However, the LAMEA region is expected to witness the fastest CAGR of 8.7% from 2023 to 2032, as most countries in Latin America have witnessed 80% urbanization with a developing manufacturing industry which is one of the highest for any region in the world.
Enquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/75120
Leading Market Players: -
- Kawasaki Heavy Industries
- VULKAN Group
- Flender
- The Timken Company
- Renold PLC
- KTR Systems GmbH
- Stromag France
- comintec
- Renk aktiengesellschaft
- Ortlinghaus-Werke GmbH
The report provides a detailed analysis of these key players in the global high flexible coupling market. These players have adopted different strategies to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in High Flexible Coupling Industry (Book Now with 10% Discount):
Railway Couplers Market: Global Opportunity Analysis and Industry Forecast 2023-2032
Aluminum Composite Panel Market: Global Opportunity Analysis and Industry Forecast 2023-2032
Plastics Processing Machinery Market: Global Opportunity Analysis and Industry Forecast 2023-2032
Membrane Pleated Filter Market: Global Opportunity Analysis and Industry Forecast 2023-2032
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/energy-and-power
Follow Us on Blog: https://www.marketinshort.com/
Follow Us on | Facebook | LinkedIn | YouTube
