According to a new market report published by Transparency Market Research titled ‘Fluid Coupling Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026, the fluid coupling market is expected to reach US$ 1,273.3 Mn by 2026, expanding at a CAGR of 4.2% from 2018 to 2026. In terms of volume, the market is expected to reach 435 thousand units, expanding at a CAGR of 2.9% from 2018 to 2026. Asia Pacific held a prominent share in the global fluid coupling market in2017.
The oil & gas industry is a major consumer of fluid couplings across the world. According to OPEC (Organization of the Petroleum Exporting Countries), the global demand for oil stood at 92.0 mb/day (million barrels per day) in 2014 which has increased at a CAGR of 1.8% to reach 97.0 mb/ day.
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In the Asia Pacific region, oil demand from China is increasing at a healthy rate due to increasing demand from the transportation and petrochemical sector. In China and India, rising sale of automobiles is increasing the demand for gasoline, which is subsequently increasing the demand for oil. In India, there is increasing demand for oil from agricultural, residential, industrial, and transportation sectors. All these factors are increasing the demand for oil & gas in India, China, and other Asia Pacific countries. Fluid couplings are extensively used in oil & gas industry. Thus, increasing demand for oil & gas is driving the demand for fluid couplings.
Global demand for cement production is expected to be a major opportunity for the global fluid coupling market. Among the regions, the most significant growth in the cement industry is expected from the Asia Pacific region. In Asia Pacific, China and India are the largest producers of cement. The Government of India intends to increase the investment in infrastructure which is expected to increase the demand for cement up to 45 million tons (MT) in the next three to four years. Overall, India’s cement demand is expected to increase to approximately 550-600 million tons per annum (MTPA) by 2025. This is expected to present a good opportunity for the growth of fluid coupling in the cement sector.
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In certain applications, VFDs (Variable Frequency Drive) act as a substitute for fluid couplings. VFD can replace a fluid coupling in certain applications such as electrical motors. Also, the cost and time associated in designing and manufacturing fluid couplings are more than VFDs. A VFD can control the amount of current that flows into an electric motor which is not possible in fluid coupling. This removes unwanted spikes in current flow, better manages overload, and by-passes extra current flow in the motor. Thus, a VFD acts a substitute of fluid couplings in certain applications.
Based on type, the global fluid coupling market is segmented into constant-fill fluid couplings and variable speed fluid couplings. Based on industry, the market is segmented into mining, chemicals and petrochemicals, cement, steel and metal processing, paper, paperboards and packaging & labeling, power generation and others (food & beverage, pharmaceuticals, water & wastewater management).
Geographically, the global fluid coupling market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The regional fluid coupling markets have been analyzed in terms of value in US dollars (US$) and volume in thousand units. Prominent countries profiled in the report include the U.S, Canada, Germany, U.K., France, Italy, China, India, Japan, GCC, South Africa, and Brazil.
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The market in Asia Pacific is expected to expand at a rapid CAGR as compared to other regions due to increasing demand from end-use industries such as mining, chemicals and petrochemicals, cement, steel and metal processing, paper, paperboards and packaging & labeling, power generation, and other end-use industries such as food & beverage, pharmaceuticals, water & wastewater management, etc. The fluid coupling market in China is expected to reach US$ 250.9 Mn and 58.1 thousand units respectively in value and volume terms by 2026. The China fluid coupling market in terms of value and volume are expected to expand at a CAGR of 5.0% and 4.0% respectively during the forecast period.
Company profiles of major players include overview of company, major business strategies, and key developments. The companies profiled in the global fluid coupling market include ABB Ltd, Siemens AG, Voith GmbH, Altra Industrial Motion, Rexnord Corporation, Fluidomat Limited, Elecon Engineering Company Limited, Transfluid S.p.A., VULKAN Group, and KTR Systems GmbH.
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