Jul 15, 2020 5:56 PM ET
iCrowd Newswire – Jul 15, 2020
Market Research Future published a research report on “Global Diaphragm Coupling in Turbo Machinery Market – Forecast To 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2027.
Diaphragm Coupling in Turbo Machinery Market Growth
Diaphragm couplings are characterized by high speed/high load torque transmission, lightweight, and no lubrication properties. They are capable of absorbing misalignments which make them ideally suited for turbines and compressors of ever higher speed/larger capacity. Diaphragm couplings are highly preferred by manufacturers and industries owing to their simple structure, lightweight, and easy assembling.
The use of diaphragm couplings for connecting various pieces of equipment has increased considerably of late. Diaphragm couplings are witnessing ever-increasing demand from various industry verticals such as oil and gas, mining, automotive and energy, and power. Realizing the reaction in the market, Market Research Future (MRFR) has projected a CAGR of 5.12% in the global diaphragm coupling in turbo machinery market over the forecast period of 2016-2027. In its latest in-depth study, MRFR has predicted the market to reach USD 5,862.5 Mn by the end of 2027.
Diaphragm couplings find application in rotating equipment for various commercial purposes including power generator, steelmaking machines, equipment for vessels, and aircraft, etc. However, the oil & gas industry is a major end user of the Diaphragm Coupling in Turbo Machinery Market.
The industry use of a wide range of pumps in its diverse operations. Moreover, the oil& gas industry is required to meet stringent regulations pertaining to safety, reliability, and maintenance. Such factors are encouraging the growth of theDiaphragm Coupling in Turbo Machinery market. The consolidation of the oil & gas industry in OPEC countries and the US have provided favorable grounds for the growth of the market.
Improvisation in design and variation in types has increased the acceptance rate of diaphragm couplings in various end-use applications. Traditionally, diaphragm couplings needed constant lubrication for extension of shelf life and needed replacement as they wore out. Improvement in diaphragm couplings with the metallic element couplings has resulted in lesser maintenance requirement and extended life
RBK Drive (U.K.), Eagle Industry Co., Ltd. (Japan), Lenze Selection (Germany), John Crane (U.S.), Altra Industrial Motion (U.S.), and Regal Beloit (U.S.) are the eminent players in the diaphragm coupling in turbo machinery market.
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The diaphragm coupling in turbo machinery market has been segmented based on type and end user.
By type, the diaphragm coupling in turbo machinery market has been segmented into double & multiple diaphragm and single diaphragm. The double & multiple segment is anticipated to reach USD 3,712.3 Mn by the end of 2027.
By end user, the diaphragm coupling in turbo machinery market has been segmented into power, oil & gas, Chemical, transportation, and others. The power segment dominated the global market in 2015. The power segment is consolidated in the APAC region, and the segment is expected to reach USD 561.7 Mn by the end of 2027.
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Increasing power generation in the region, both renewable and non-renewable have provided favorable grounds for the growth of the market. Expanding chemical and oil & gas industry also favor the growth of the market in the APAC.
Europe is the second largest market for diaphragm coupling in turbo machinery. Rising production of renewable power in the region is supporting market growth. Europe market is anticipated to register a CAGR of 5.15% over the forecast period.
North America market accounts for an advantageous share of the global diaphragm coupling in turbo machinery market. Expanding oil & gas industry, especially in the US, is fostering the growth of the market.
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