Shaft couplings are essential to several applications in oil and gas exploration and production activities. In the oil and gas industry, contamination and wear of equipment are very common due to overexposure to dust, moisture, and heavy load applications. This imposes a challenge for transmitting the required amount of power to different equipment used in the industry. Equipment in the industry is susceptible to shaft misalignment, as it is used for heavy-duty applications and work with heavy weights. This concern is addressable with the use of shaft couplings, which compromise for misalignment issues and provide a strong structure to equipment assembly.
MIR analysts forecast the global shaft couplings market to grow at a CAGR of 4.57% during the period 2018-2022.
The report covers the present scenario and the growth prospects of the global shaft couplings market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of shaft couplings.
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Global Shaft Couplings Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. .
Shaft Couplings Market Key Vendors Are: Altra Industrial Motion, Rexnord, SKF, Timken, Tsubakimoto Chain, Voith.
Other Prominent Vendors in the market are: ABB, ALM, Cross+Morse, ERIKS, Jakob Antriebstechnik, KTR Systems, Mayr, MecVel, Motion Industries, NBK.
Shaft Couplings Market Driver:
- Increasing focus on generating power from renewables
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Shaft Couplings Market Trends:
- Customized couplings to solve mating issues
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Browse Full Report and Related Details at: https://www.marketinsightsreports.com/reports/0119165627/global-shaft-couplings-market-2018-2022
The Shaft Couplings Market is divided into the following segments based on Geography:
This independent 126-Page report guarantees you will remain better informed than your competition. With approx 210 tables and figures examining the Shaft Couplings Market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2021.
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Commenting on the report, an analyst from MIR team said: “The latest trend gaining momentum in the market is customized couplings to solve mating issues. Industrial machines operate at high power due to which they experience high energy transmission. To reduce the friction between shafts and mechanical components, couplings are installed. These couplings are efficient in power transmission, incurring minimal power loss during transmission. However, heavy industrial machinery requires monitoring as it is under continuous operation. Thus, to arrest the issues of shaft mating and friction between the components, advanced couplings are designed. These couplings are customized according to the design and configuration of the industrial machinery. Customization of couplings allows end-users to reduce accidents, which may happen due to frictional heat.”
According to the report, one of the major drivers for this market is increasing focus on generating power from renewables. Energy demand across the world is growing due to factors such as rapid growth of the manufacturing sector, rise in population, industrial growth, and urbanization. Also, rural to urban migration is majorly contributing to the increase in energy demand. Thus, meeting the energy requirement of the global population has become a major challenge for economies across the globe. As a result, end-users have intensified the focus on exploration activities in oil and gas and mining industries so that the energy demand can be fulfilled. However, due to the depletion of natural resources, the focus on generating energy through renewable sources has intensified.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key Highlights of The Shaft Couplings Market Report:
- The key details related to Shaft Couplings Market like the product definition, cost, variety of applications, demand and supply statistics are covered in this report.
- Competitive study of the major Shaft Couplings Market players will help all the market players in analyzing the latest trends and business strategies.
- The study of emerging Shaft Couplings Market segments and the existing market segments will help the readers in planning the business strategies.
- Figure Global Production Market Share of Shaft Couplings Market by Types and by Applications in 2017.
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