EMEA to Dominate the Global Rigid Sleeve Couplings Market| Technavio

The latest market research report by Technavio on the global rigid sleeve couplings market predicts a CAGR of around 5% during the period 2017-2021.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171207006163/en/

The report segments the global rigid sleeve couplings market by end-user (oil and gas, mining and metals, and power generation), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global rigid sleeve couplings market, according to Technavio industrial automation researchers:

• Increase in renewable power generation: a major market driver
• In 2016, the oil and gas segment dominated the market by occupying almost 32% share
• EMEA dominated the global rigid sleeve couplings market with more than 36% share in 2016
• Altra Industrial Motion, Regal Beloit, Rexnord, Ruland, and Timken are the leading players in the market

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Increase in renewable power generation: a major market driver

Increase in renewable power generation is one of the major factors driving the global rigid sleeve couplings market. The wind energy sector is the key end-user of rigid sleeve couplings. Wind turbines use couplings to provide interconnection between turbines and generators. The aligned turbines require rigid couplings to connect the turbine and the shafts in a wind turbine assembly.

According to Kalle Deepak, a lead analyst at Technavio for research on automation, “The rise in concerns about environmental pollution and global warming, has led governments around the world to increase investment in renewable power sources such as wind energy. This increase in investments in wind energy will drive new turbine installations and expansion of existing wind farms, which will drive the demand for rigid sleeve couplings.”

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

EMEA: largest rigid sleeve couplings market

Technavio researchers anticipate high growth for the global rigid sleeve couplings market in EMEA. Contribution from countries such as Germany, Italy, and the UK had underpinned the regional dominance of EMEA in the global market in 2016. In Europe, electricity production from renewable sources has been on the rise. The UK produced more power from solar, wind, and nuclear sources combined than from gas and coal in 2016. Rigid sleeve couplings are used in the mining industry due to high-pressure application requirement to extract minerals. Majority of the demand for rigid sleeve couplings, in the mining industry, will originate from Africa.

Competitive vendor landscape

The global rigid sleeve couplings market is witnessing a stable growth with the presence of a good number of established vendors. The market is expected to witness the entry of new vendors owing to the increasing demand for rigid sleeve couplings. The growing trend for improved energy efficiency in shafts will drive the demand for rigid sleeve couplings, thus making the market attractive for new vendors. Altra Industrial Motion, Regal Beloit, Rexnord, Ruland, and Timken are the key vendors in the market.

Get a sample copy of the global rigid sleeve couplings market report free of cost

Access Technavio’s continuously growing automation research library and find expert analysis on hundreds of markets.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171207006163/en/