Jan 18, 2018   SOURCE: BusinessWire

Global Shaft Couplings Market 2018-2022 - Increasing Focus on Generating Power from Renewables is a Major Driver in the Market - ResearchAndMarkets.com

The "Global Shaft Couplings Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.

Global shaft couplings market to grow at a CAGR of 4.57% during the period 2018-2022.

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.

Key Vendors

  • Altra Industrial Motion
  • Rexnord
  • SKF
  • Timken
  • Tsubakimoto Chain
  • Voith

Other Prominent Vendors

  • ABB
  • ALMA
  • Cross+Morse
  • ERIKS
  • Jakob Antriebstechnik
  • KTR Systems
  • Mayr
  • MecVel
  • Motion Industries
  • NBK

For more information about this report visit https://www.researchandmarkets.com/research/5sqztz/global_shaft?w=4