Coupling Market - Forecasts from 2023 to 2028

The global coupling market is estimated to grow at a CAGR of 4.27% during the forecast period.

A coupling is a mechanism that connects two shafts to transfer power, providing flexibility to accommodate misalignment or movement. It facilitates the connection between rotating equipment components while allowing for shaft end adjustments. Various industries utilizing couplings include automotive, power and energy, mining, oil and gas, and several other industries. The coupling market size is experiencing significant expansion primarily driven by the rising energy and power transmission applications coupled with the expansion of the automotive industry.

Growing automotive production bolsters the coupling market growth.

Couplings play a crucial role in the automotive due to their ability to connect and transmit power between various components, such as engines, transmissions, and wheels. They enable efficient power transfer, ensuring smooth operation and optimal performance of vehicles. The automotive industry is experiencing significant growth driven by increasing population and booming demand for new vehicles and such growth has subsequently fuelled the expansion of the coupling industry. According to the European Automobile Manufacturers' Association, In 2022, the European Union witnessed production of 10.9 million passenger cars, marking an impressive 8.3% growth compared to the previous year.

Booming power & energy drives the coupling market expansion.

Couplings are utilized in the power and energy sector due to their ability to efficiently transmit power between generators, turbines, motors, and other equipment. They ensure reliable power transmission, allowing for smooth operations and minimizing energy losses. The growing global energy demand coupled with an increasing shift towards sustainable energy sources and infrastructure development has propelled the power & energy sector growth which has simultaneously accelerated the demand for couplings. According to the Ministry of Power, in the ongoing year 2023-24, India is projected to experience a peak power demand of approximately 229 GW during the summer season.

Improving mining activities drives coupling market growth.

Couplings are extensively used in the mining industry due to their vital role in power transmission and equipment functionality. In mining operations, couplings are crucial for connecting various components, such as motors, pumps, conveyors, and crushers, thereby enabling the smooth transfer of power and torque. Hence, with the growing demand for minerals and resources worldwide, the mining industry is experiencing significant growth in its activities which has provided growth opportunities to the couplings industry. According to the Ministry of Mines, India's mineral production witnessed a significant growth of 6.8% in March 2023, as compared to the corresponding period in March 2022. This positive trend reflects a promising increase in overall mineral production.

North America is estimated to dominate the coupling market.

North America will account for a significant share of the coupling market due to the growing automotive production and mining activities in the region which is creating a surge in the demand for couplings for power transmission. According to the USGS National Minerals Information Centre, in 2022, nonfuel mineral commodities produced by US mines reached an approximate value of $98.2 billion, showing a notable increase of $3.6 billion (around 3.8%) compared to the revised total of $94.6 billion in 2021. Also, as per the National Institute of Statistics and Geography (Inegi), in the first quarter of 2023, vehicle production in Mexico witnessed a notable growth of 8.61% compared to the corresponding period of 2022.

Shift toward maintenance-free solutions restrains the coupling industry growth.

Industries place greater emphasis on optimizing operational efficiency and reducing costs as a result the demand for maintenance-free or low-maintenance solutions has significantly increased. Couplings that necessitate frequent maintenance or lubrication may encounter limitations in the market due to their higher maintenance requirements. For example, gear couplings, which require more frequent lubrication compared to other coupling types may face challenges in meeting the growing demand for hassle-free and cost-effective solutions in various industries. Gear coupling manufacturers recommend a regreasing interval of at least 12 months, involving a comprehensive procedure that includes disassembly, cleaning, inspection, and hand-packing the coupling with fresh grease.

Key Developments

• April 2023:Ideal Tridon Group, a prominent global manufacturer specializing in clamping, coupling, and support products, recently completed the acquisition of Advanced Couplings Limited. This strategic move strengthens Ideal Tridon Group's position in the industry by expanding its product portfolio and leveraging the expertise and capabilities of Advanced Couplings Limited. With this acquisition, Ideal Tridon Group aims to enhance its global presence and provide enhanced solutions to its customers worldwide.
• December 2021:Parker Hannifin, a renowned leader in motion and control technologies, introduced the optimized FEM Quick Coupling Series, designed to enhance performance. This series offers an impressive increase in working pressure, now reaching up to 350 bar, and delivers improved flow properties through a reduced pressure drop. The new FEM Quick Coupling Series demonstrates Parker Hannifin's commitment to providing cutting-edge solutions that optimize efficiency and productivity in various applications.
• February 2021:Woodfield unveiled the WV400, their latest API coupler, expanding their APILOAD product line. The WV400 is specifically designed to withstand demanding working environments. Its durable stainless-steel outer sleeve ensures long-lasting performance, while the one-piece handle and removable pin system facilitate convenient in-field tear-down for seal maintenance. Woodfield's WV400 API coupler offers reliable and robust solutions for industries operating in extreme conditions.

Company Products

• JAW couplings:Wood's, a brand under Regal Rexnord, delivers Jaw couplings that combine excellent quality with affordability. Their product lineup includes two variants: the straight L-Jaw coupling, featuring four insert material options, and the straight C-Jaw coupling, specifically designed for high-torque loads. Notably, both Wood's couplings are fully interchangeable with industry-standard designs, providing customers with flexibility and compatibility across various applications.
• KCP Max Dynamic Couplings:KCP Max Dynamic Couplings, offered by KOREA COUPLING CO. LTD, feature a range of unique advantages. These couplings incorporate a halved flex element and reversible hubs, resulting in reduced installation time. Made from a formulated polyurethane material, they are non-lubricated and have excellent material-flexing properties. With a focus on maximum durability, strength, and fatigue resistance, KCP MAX DYNAMIC COUPLINGS are designed to withstand demanding applications.

Segmentation

By Type

• Sleeve Coupling
• Split Muff Coupling
• Gear Coupling
• Others

By Material

• AluminumAlloy
• Stainless Steel
• Titanium

By End-User

• Automotive
• Power & Energy
• Mining
• Oil & Gas
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• UK
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Other