This market research study presents a detailed segmentation of the global couplings market by product (elastomeric couplings, metallic couplings, mechanical couplings, and others), and by geography (the Americas, APAC, and EMEA). The key vendors identified in the market are Altra Industrial Motion, Kop-Flex, Lovejoy, and Rexnord.
Research analysts estimate the global coupling market, to grow at a CAGR of more than 2% between 2016 and 2020. Of late, the couplings have found extensive usage in gas pipeline constructions across the globe. Several end-users are seeking customized or advanced coupling solutions that require less space and low-weight raw materials with better inertia qualities. APAC is the largest market for couplings, and is expected to occupy around 51% of the overall market share by 2020. The augmented demand for couplings from pulp and paper and steel industries is expected to drive the market in the region.
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The new market research report provides a breakdown and analysis of the couplings segments by technology.
â€œOf late, the coupling manufacturers are trying to combine the 3D technology with the digital advances in modeling software. The use of 3D printing techniques allows end-users to explore beyond traditional tooling and casting to manufacture couplings in a convenient and precise manner. These integrated technologies have opened a whole new frontier in coupling design, repair, and replacement,â€¯according to the report.
The elastomeric couplings segment leads the market, accounting for more than 42% of the total market share. The elastomeric shear couplings are widely used in industries as they have several advantages, like tolerance to severe misalignment, non-requirement of lubrication, and reduction in vibration and shock, over conventional couplings. The extensive applications of elastomeric couplings across various industries like steel and rolling mill, pulp and paper, and mining industries will aid in the growth of this market segment until the end of 2020.
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The leading players in the global steel coupling market are Altra Industrial Motion, Kop-Flex, Lovejoy, and Rexnord. This market is highly competitive due to the presence of several regional and international suppliers. Though the market has the presence of several new vendors, it is difficult for them to compete with international vendors in terms of quality, features, functionalities, and services. With the introduction of products with new features and technologies, the competition is expected to get more aggressive over the forecast period.
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