Quadintel published a new report on the Elastomeric Couplings Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Global Elastomeric Couplings Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2030.
Elastomeric couplings are type of coupling which are made from a flexible elastic material for transmission of torque. Elastomeric couplings are made from non-metallic element such as rubber and plastic. Elastomeric couplings are used for torque transmission in different industries like automobile, Pump & blowers among others.
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Growing automobile Sector and rising adoption of elastomeric over metal couplings due to advantages such as flexibility, no lubrication requirement and little maintenance among other are key drivers for growth of Elastomeric couplings Market. For instance, according to Statista- In 2020, global automotive manufacturing market was valued at USD 2.5 trillion. Further, as per projections the size of global automotive sector would amount to USD 2.8 trillion by 2022. Furthermore, in April 2021, Ringfeder Power Transmission launched two new GWE 5113 and 5117 series of elastomer jaw couplings. These coupling features compact hub design, low moment of inertia and high damping properties. These new couplings are intended for robotics, conveyor systems and other precision-driven applications. Also, increasing demand for automobiles in emerging economies and rising developments in couplings are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, limited strength of elastomeric materials in high temperature conditions impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Elastomeric Couplings Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing technological advancements in different industries and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as growing automotive industries in countries like China and India and increasing penetration of the leading market players in Asia Pacific, would create lucrative growth prospects for the Elastomeric Couplings market across the Asia Pacific region.
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Major market players included in this report are:
ABB Motors and Mechanical Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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Furthermore, years considered for the study are as follows:
Target Audience of the Global Elastomeric Couplings Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
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The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.
What is the key information extracted from the report?
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