The High flexible couplings market was valued at $2.23 Billion in 2022 and is expected to reach $3.62 Billion 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 Ince 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 Ince 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).
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.
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 Ince 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 Ince 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 IndustriesMajor 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 Stakeholders
- This 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 Segments
By Types
- Others
- Elastomeric Couplings
- Grid Coupling
- Disc Coupling
By Material
- Steel
- Rubber
- Others
By End User Industry
- Oil and Gas
- Automotive
- Power Generation
- Others
By Region
- 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
- Flender
- comintec
- Renk aktiengesellschaft
- Renold PLC
- Kawasaki Heavy Industries
- VULKAN Group
- The Timken Company
- Stromag France
- Ortlinghaus-Werke GmbH
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HIGH FLEXIBLE COUPLING MARKET, BY TYPES
CHAPTER 5: HIGH FLEXIBLE COUPLING MARKET, BY MATERIAL
CHAPTER 6: HIGH FLEXIBLE COUPLING MARKET, BY END USER INDUSTRY
CHAPTER 7: HIGH FLEXIBLE COUPLING MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The High Flexible Coupling Market is likely to experience a significant growth rate of 3.4% from 2022-2032 owing to increasing market demand from oil & gas sector.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.
In addition, Rise in infrastructure development and construction activities across the globe drives the demand for high flexible coupling market. 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. Moreover, major players that provide excavators in France include JCB, Volvo AB, and John Deere. For instance, in March 2020, J C Bamford Excavators Ltd launched its new 8025 ZTS mini excavator. It offers a 20.9 Kw Perkin engine with a weighing capacity of 2.8 tons. It also required high flexible coupling for better torque. It is most suitable for construction, and landscaping areas. The market for high flexible coupling is poised for growth with ongoing infrastructure projects in emerging economic and urbanization trends.
Moreover, high flexible coupling components are applicable in a variety of sectors, including steel & metal, electronic, medical, aerospace, defense, and manufacturing industries. Exponential rise in global population has significantly increased the demand for essential products such as electronics, home care, food, beverage, and pharmaceutical industries across developing nations such as India, China, and Africa. This increase in demand for consumer products has simultaneously fueled the need for manufacturing machinery, which, in turn, propels the use of automation components for production and maintenance of machinery. Moreover, rise in automation and robotics in variety of industries in production lines and other activities creates demand for automation components such as motors, gears, screws, sensors, high flexible coupling, and other components. Major players in the industry such as Bosch Rexroth, Emerson Electric Co., Nidec Corporation, and Parker Hannifin Corporation offer high flexible coupling for small- and large-scale industries. All such instances are expected to drive the highly flexible coupling market.
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, during the COVID-19 pandemic, various manufacturers in the high flexible couplings market had to stop their business in countries, such as China, the U.S., and India. This break directly impacted the sales of high flexible coupling manufacturing companies. In addition, lack of manpower and raw materials also constricted supply of raw materials for manufacturing the high flexible couplings, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are gradually leading the high flexible coupling manufacturing companies to resume their regular manufacturing and services. This is expected to lead to re-initiation of companies at their full-scale capacities, that helped the market to recover by the end of 2021.
However, 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).
The key players profiled in the study include VULKAN Group, Flender, The Timken Company, Renold PLC, KTR Systems GmbH, Stromag France, Comintec, Renk aktiengesellschaft, Ortlinghaus-Werke GmbH, Kawasaki Heavy Industries.
Key Market Insights
- By type, the elastomeric coupling segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 4.1% from 2023 to 2032.
- By material, the steel segment is projected to grow at a CAGR of 3.7% during the forecast period.
- By end user industry, the oil & gas segment is projected to grow at a CAGR of 4.7% during the forecast period.
- Region wise, Europe is the highest revenue generator, registering a CAGR of 3.5% during the forecast period.
Companies Mentioned
- KTR Systems GmbH
- Flender
- comintec
- Renk aktiengesellschaft
- Renold PLC
- Kawasaki Heavy Industries
- VULKAN Group
- The Timken Company
- Stromag France
- Ortlinghaus-Werke GmbH
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 236 |
| Published | May 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 2.23 Billion |
| Forecasted Market Value ( USD | $ 3.62 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
