Flexible Shaft Couplings Market Surge Towards Solid Growth by 2024
Sarasota, FL -- (SBWIRE) -- 10/18/2017 -- Global Flexible Shaft Couplings Market: Overview
The flexible couplings help in transmitting torque from a shaft to another one in conditions such as there is the presence of angular and axial misalignment, radial, and rigid couplings do not provide any options. Based on the type of the load condition, the design of the flexible couplings is done. The types of flexible couplings that are available in the market are elastomeric element, mechanical element, and disc type or metallic membrane coupling.
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The global market for the flexible shaft couplings is fragmented into end use, application, and type. The end use of the flexible shaft couplings market is segregated into power and energy, tire manufacturing, automotive industry, food processing industry, steel industry, mining industry, aerospace industry, marine industry, and others. Based on the application, the market is categorized into anti-vibration, resolver, fans and blowers, compensating, stepper and servo motors, and others. Depending on the type, the market is divided into mechanical element flexible shaft couplings, elastomeric element, and metallic membrane/disc type governing. The mechanical element flexible shaft couplings segment is further sub-segmented into gear coupling, flexible link coupling, chain coupling, metal ribbon coupling, and others. The elastomeric element segment is sub-categorized into the elastomeric shear coupling and elastomeric compression coupling. The metallic membrane/disc type governing is subclassified into flexible disc coupling and diaphragm couplings.
There are wide applications of flexible shaft couplings in the end-use industries such as manufacturing, mining, etc. The significant growth of these end-user industries will project to improve the market of flexible shaft couplings market in the future period. Various end-use industries across the world are trying to improve their operational efficiency by implementing the six sigma technique, which will, in turn, improve the growth of the flexible shaft couplings market. The manufacturers are trying to improve the couplings by using materials of low weight, offering good qualities of inertia, and minimizing the space that is required. All these factors will increase the demand of flexible shaft couplings. Some factors that are restraining the market for flexible shaft couplings are the weakening conditions of the export and the development of the products that are of low quality from the local vendors are affecting the market negatively.
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The geographical segmentation of the global flexible shaft couplings market is diversified into Asia Pacific, Western Europe, Eastern Europe, the Middle East and Africa, North America, and Latin America. Asia Pacific region holds a dominant share in the global flexible shaft couplings market. The factor that contributes to this growth is the increasing demand for the flexible shaft couplings from the developing countries such as China and India. Thus, this is the reason why Asia-Pacific region has become the hub for many of the manufacturing industries. North America and Europe are following the footsteps of Asia Pacific region. Owing to the developing and existing manufacturing industries Russia, Brazil, and Eastern European countries will project to trigger the flexible shaft couplings market in the coming years.
Market Competitive Players
The key market players that are involved in the flexible shaft couplings market include GKN Plc., Gates, Herwarth Reich GmbH., Toyo Tire & Rubber Co., Ltd., Voith, LORD Corporation, Hutchison, Tsubakimoto Chain Co., Helical Products Co., and Zero-Max.
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