ID: MRFR/E&P/1927-CR | October 2020 | Region: Global | 95 pages
Diaphragm coupling turbo machinery market value will reach the US $ 5682.5 million by 2027, and the market Size will grow at an average rate of 5.12 percent during the forecast period 2020-2027
The key drivers of the market
The primary driver of the Diaphragm Coupling in the Turbo Machinery Market is the demand for high-performance equipment in the oil and gas industry. The oil and gas industry is expanding as new oil reserves surface. The demand for oil and gas is also an indirect positive influence on the market. The market Growth will be high in the coming years because the need for diaphragm coupling setups is high in every new machine that comes to the market. The industry looks at high-performance equipment as a step towards modernization. Thus, the growth prospects of the Diaphragm Coupling in the Turbo Machinery Market are high.
Significant opportunities of the market
According to the market Trends, there are many significant opportunities in the market. For example, rapid industrialization and the upgrade of industrial equipment around the world is an opportunity. The constant research and development of diaphragm coupling is also a window of opportunity. Moreover, the evolution of the industry and the rise of new industrial segments is an opportunity. The market will have ample opportunity to equip the newly emerging industrial sectors.
Some key restraints of the market
Like every other market segment, the diaphragm coupling in turbo machinery market also has some restraints that apply to it in many conditions. For example, the disparity of industrialization in different countries and economic gaps across different countries is a restraint on the market. Without proper development of the industrial infrastructure in the countries, the Diaphragm Coupling applications will not broaden. The national industrial segments have to develop at an equitable pace to support uniform market Growth.
Some major challenges of the market
The challenges that dominate the market are the lack of proper research and development in the sector. Another challenge that the market faces is to evolve at an optimal speed to support all kinds of industries. The market Players has to overcome these challenges so that the market Value can increase in the forecast period.
The diaphragm coupling in turbo machinery market is a highly competitive landscape that has many leading competitors. The leading competitors of the market are-
The leading players of the market base in different regional markets of the world. This gives a level playfield to the competitors in the market.
Cumulative growth analysis
Overall, the market shows moderate growth prospects in the forecast period. Five years earlier, the market value was at the US $3237.3 million. However, today the market value is increasing. Moreover, the market value will reach the US $ 5682.5 million by 2027. The market Size will grow at an average rate of 5.12 percent. Even though this growth rate is not a double-digit one, the Global market still has very promising prospects in terms of application.
Diaphragm Coupling defines a type of metallic membrane coupling used in machines. Diaphragm coupling uses a single membrane or a series of the membrane. The diaphragm coupling transmits torque from the outer diameter of the flexible plate to the inner diameter of the system and then also transmits it from the inner diameter to the outer diameter. The series of metallic membranes are connected at the outer diameter of a drive flange. The diaphragm coupling is a complex part of the turbomachinery that processes torque in the machine and makes it functional.
The diaphragm coupling setup has few requirements that the diaphragm coupling in turbo machinery market has been putting out in recent years. These requirements are like no need for lubrication, high torque capability of the coupling setup without increasing the size of the coupling. This is a very necessary requirement because people today search for compact machines. Therefore, diaphragm coupling that has minimal coupling size and high torque capability are more popular than others in the market. Other requirements of the new diaphragm couplings are the greater accommodation of misalignment and greater axial motion.
The market is progressing on the wave of demand for new, advanced machines. The diaphragm coupling setup is popular in the high-performance equipment sector. Since every sector of the industry today needs high-performance equipment for various purposes, diaphragm coupling is also in widespread use. Earlier, the market was only catering to the helicopter manufacturing sector. However, the evolution of the industrial segment has modified diaphragm coupling as a part of different industrial applications. The diaphragm coupling setup is used for modern compressors and turbines. The diaphragm couple is also used for rotating power generators so that the torque can be converted to electricity.
COVID 19 Analyses
The COVID 19 pandemic has had a mixed impact on the machinery manufacturing segment. Firstly, the isolation of the manual workforce created a window of opportunity for mechanical applications. The high demand for machines in different areas of industry is a positive trend for machine parts like Diaphragm Coupling.
However, the pandemic also disrupted the global supply chain in the industrial segment. Additionally, the pandemic also brought the shutters down on many manufacturing units around the world. Therefore, the manufacturing of core machine parts still suffers from the depressing impact of the COVID 19 pandemic. The overall growth of the market stalled in the pandemic period. The growth rate of the diaphragm coupling in turbo machinery market was increasing in the past few years, but the pandemic proves to be a block on the road. However, as the market recovers in the post-pandemic era, the market experts expect the market Growth rate to exceed the previous year’s growth rates.
The Diaphragm Coupling in Turbo Machinery Industry divides into different segments based on its types and characteristics. The segmentation of the Diaphragm Coupling in Turbo Machinery Industry on the basis of different criteria is very necessary for a successful market Analysis. The market segments are as follows-
By type, the Diaphragm Coupling in Turbo Machinery Industry divides into double and multiple diaphragm and single diaphragm.
By end-user, the market share further divides into power, oil, and gas sectors. Secondly, other end-user segments are transportation and chemicals.
The regional segmentation of the Diaphragm Coupling in the Turbo Machinery Market share is in the next section.
The diaphragm coupling in turbo machinery global market Revenue disperses over different areas of the world. The regional markets of the market collectively contribute in terms of market Revenue.
By regions, the market disperses over major regional markets of North America, Europe, and the Asia Pacific. According to the market analysis, the majority of the market size belongs to the Asia Pacific region. The market share for the Asia Pacific region is 25.4 percent. Moreover, the market analysis also points that the European region is the second biggest regional market for diaphragm coupling. The rest of the world is made of minor markets for diaphragm coupling.
Every emerging market segment has some recent developments that drive the market growth in the forecast period. Below are the most recent developments in the market-
The global diaphragm coupling in turbo machinery market outlook or overview is as follows:
The above report on the market explains the major growth trends of the market. Secondly, the report keeps the present situation of the market while predicting for the forecast period. Thirdly, it throws light on the market dynamics of the segment in the discussion.
Moreover, this report also covers the basic segmentation of the market and its regional analysis. The report emphasizes the competitive landscape of the market and its recent developments. The above report is a comprehensive report that considers different associated factors before arriving at a conclusion about the market scenario.
|Market Size||2027: USD 5,862.5 Million|
|CAGR||5.12% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Altra Industrial Motion (U.S.), Regal Beloit (U.S.), John Crane (U.S.), Eagle Industry Co., Ltd. (Japan), Lenze Selection (Germany) and RBK Drive (U.K.)|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Increasing applications in oil& gas industry is presumed to augment the diaphragm coupling in turbo machinery market.
Europe is assessed to mark 5.15% CAGR.
The diaphragm coupling in turbo machinery market is poised to strike 5.12% CAGR.
APAC accounts for the most substantial share in the diaphragm coupling in turbo machinery market.
The prominent players are Lenze Selection (Germany), Altra Industrial Motion (U.S.), John Crane (U.S.), Regal Beloit (U.S.), Eagle Industry Co., Ltd. (Japan), and RBK Drive (U.K.).