The global flexible shaft couplings market is expected to grow at a CAGR of close to 5% during the period 2018-2022, according to a new market research study by Technavio.
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Technavio has published a new market research report on the global flexible shaft couplings market 2018-2022 under their industrial automation library. (Graphic: Business Wire)
The report categorizes the global flexible shaft couplings market by product (elastomeric couplings, gear couplings, and chain couplings) and by end-user (oil and gas industry, power plants, and mining and metal industry). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: high efficiency in material handling applications
Flexible shaft couplings provide high torque for material handling applications with minimum space utilization. With the help of couplings, material handling equipment such as hoist, crane, overhead cranes, and conveyors are attached to motors. Cranes and overhead bridges are tailor-made for industrial applications. Brakes and drum flexible shaft couplings provide optimum solutions for connecting multiple shafts. Their misalignment capabilities and adaptability in harsh environment have proved to be crucial in the increase in adoption in material handling applications.
According to a senior analyst at Technavio for automation research, “Industries such as cement, petrochemical, and construction have increased the demand for material handling for various operations. Standard and toiler made are the two types of flexible shaft couplings. The installation of such devices requires less time as only the screw needs to be fixed without affecting the position of connected devices such as motors, pumps, and compressors, reducing the overall time for maintenance. The demand for highly efficient flexible shaft has increased due to the increase in need for material holding in industrial operations.”
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Market trend: advances in coupling technology
3-D printing is being adopted while manufacturing couplings as it allows for low-cost manufacturing, with short lead time and easy customization of end-products. 3-D printing has gained attention from several manufacturers as the manufacturing process or assembly does not require significant changes for each type of coupling. For industrial grade couplings, 3-D printing can be done using metals such as stainless steel and titanium. 3-D printing is tackling the challenge of remodeling complex coupling designs with the focus on tailor-made couplings designed for different end-users based on the application.
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Some of the players in the market
- Altra Industrial Motion
- Rexnord
- SKF
- Timken
- TSUBAKIMOTO CHAIN
- Voith
The global flexible shaft couplings market consists of a significant number of established vendors and is witnessing stable growth. Owing to the increasing demand for flexible shaft couplings, the market is expected to witness the entry of new vendors. To make installations of couplings easy, vendors tend to follow standard specifications. The growing trend of better energy efficiency in shafts and the urge to reduce energy loss will grow rapidly, leading to the emergence of new vendors in the market.
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