According to a market report by Lucintel, the future of the global high flexible coupling market looks promising with opportunities in the oil & gas, automotive, and power generation markets. The global high flexible coupling market is expected to grow with a CAGR of 5.5% from 2024 to 2030. The major drivers for this market are popularity of electric vehicle systems is consistently increasing, rising demand for efficient and high-quality connections is accelerating the industry's adoption, and growing investment to boost crude oil production and rising light distillate demand.
In this market,
elastomeric couplings, disc coupling and grid coupling are the major segments
of high flexible coupling market by type.
Lucintel forecasts that
elastomeric couplings is expected to witness the highest growth over the
forecast period due to their ability to absorb shocks and vibrations, making
them ideal for automotive and aerospace applications.
Within this market, oil
& gas will remain the largest segment due to substantial use of flexible
shaft couplings, ensuring high torque transmission and durability.
Europe is expected to
witness highest growth over the forecast period due to increasing demand from
industries such as mining, metals, oil and gas, and power plants.
The Timken Company,
Kawasaki Heavy Industries, Regal Rexnord, Vulkan, Comintec, Renk, KTR Systems,
Renold, Ortlinghaus-Werke, and Flender are the major suppliers in the high
flexible coupling market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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