12th December, 2018- Flexible Shaft Couplings Market is expected to grow significantly in the forecast period owing to developments in the coupling technology and its increasing applications in several end use industries. Couplings are used to connect two shafts together for power transmission. Similarly, flexible shaft couplings are commonly used components for rotating power trains.
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Flexible shaft couplings market is driven for industrial applications like food processing, automotive, steel, mining, marine, tire manufacturing, aerospace and others. The manufacturers in the industry are emphasizing on 3D printing as it enables cost efficient manufacturing in short duration and product categorization. The rise in number of manufacturers is helping them overcome challenges like renovation for refined coupling designs. Automobile and aerospace manufacturers have adopted this technology way back for manufacturing engine and vehicle components.
Flexible shaft couplings market is categorized on the basis of type, application, end users, and geography. On the basis of type, flexible shaft couplings market is classified into mechanical element flexible shaft couplings (gear, chain, flexible link, metal ribbon, and others), elastomeric element flexible shaft couplings (elastomeric compression, elastomeric shear) and metallic membrane or disc type governing (diaphragm, flexible disc).
On the basis of application, flexible shaft couplings market is divided into anti-vibration, resolver, compensating, stepper & servo motors, blowers & fans. Based on end users, flexible shaft couplings market is divided into steel, power & energy, tire manufacturing, automotive, aerospace, mining, marine, food processing, and others. Flexible shaft couplings are widely used in oil & gas industry.
Geographically, flexible shaft couplings market is segmented as North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to dominate flexible shaft couplings market in the forecast period owing to the rise in demand from emerging economies like China and India. These regions have also become a hub for manufacturing companies. The key players in flexible shaft couplings market are Toyo Tire & Rubber Co., Ltd., GKN Plc., Gates, Herwarth Reich GmbH., LORD Corporation, Voith, Tsubakimoto Chain Co., Zero-Max, Helical Products Co., and Hutchison.
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