Elastomeric Couplings Market

Elastomeric Couplings Market Size (2023-2028):

The Global Elastomeric Couplings Market share value is expected to grow at a CAGR of 7.0% during the forecast period 2023–2028 to reach USD 3.85 billion by 2028 from USD 2.57 billion in 2022.

Market Overview:

An elastomeric coupling is a mechanical device that uses an elastomeric material, such as rubber or polyurethane, to transmit torque and correct the misalignment between two shafts. These couplings are non-lubricated and require little maintenance, making them cost-effective. Overall, there are three basic types of elastomeric couplings: Tire-type couplings, Sleeve-type elastomeric couplings, and Sleeve-type elastomeric couplings. The tire-type couplings are the most common type of elastomeric coupling. There are various key features and benefits offered by elastomeric couplings, such as misalignment tolerance, which can occur due to manufacturing tolerances, thermal expansion, or dynamic movement. Along with this, it helps dampen the vibrations and shocks by reducing the transmission of vibrations from one shaft to the other by improving the overall performance and durability. Moreover, they are low-maintenance and requires less lubrication, and their compact design and lightweight makes them suitable for various application.

Recent Developments in Elastomeric Couplings Industry:

• In May 2022, Flender expanded its range of flexible couplings under the N-Eupex series by introducing three new variations. These additions provide users with increased versatility for their systems, all while retaining the advantages of a compact design and the ability to handle heavy loads similar to that of a pin coupling.

REPORT COVERAGE:

Drivers:

One of the significant drivers of the elastomeric couplings market is the increasing growth of the automotive industry; the automotive sector is one of the important sectors that is causing the increase in the demand for elastomeric couplers as these components play an imperative role in transmitting torque while dampening vibrations, and enhancing overall vehicle performance. Thus amplifying the significance of elastomeric couplings within the automotive sector and causing a surge in demand for electric vehicles (EVs) and hybrid vehicles. As the global automotive landscape shifts towards sustainable and eco-friendly alternatives, the demand for EVs and hybrid vehicles has experienced massive growth. Elastomeric couplings, with their ability to absorb shocks and dampen vibrations, emerge as an ideal solution for enhancing efficiency and reducing wear and tear. Since automakers optimize the performance, durability, and energy efficiency of their vehicles, the role of elastomeric couplings becomes increasingly pivotal. With their capacity to adapt to various operating conditions and provide a smoother driving experience, these couplings align perfectly with the evolving automotive sector, thus causing a propelling growth of elastomeric couplings market share.

In addition, the growing demand for energy-efficient and environmentally friendly products is driving the demand for elastomeric couplings market as elastomeric couplings do not require lubrication and thus eliminate the need for oil and grease. This reduces the environmental impact of the couplings, as it reduces the need to produce and dispose of these lubricants. Moreover, these elastomeric couplings require little maintenance, which reduces the overall environmental impact of the couplings because there is less need for oil changes, lubrication, and other maintenance procedures.

Along with this, elastomeric couplings are typically made from sustainable materials, such as rubber and polyurethane. These materials are made from natural resources that are renewable and recyclable, and the growing awareness of the environmental impact of traditional couplings is driving the demand for energy-efficient and environmentally friendly products. Since elastomeric couplings are a more sustainable option than other types of couplings, they are becoming increasingly popular in a variety of applications. Therefore, growing environmental awareness and energy efficiency features led to the rise in the elastomeric couplings market size.

Restraints:

One of the major restraining factors limiting the growth of the elastomeric couplings market is their limitation in the ability to transmit high torque due to the flexibility of the elastomeric material. The elastomer materials deform under the high torque loads and cause premature wear and failure of the coupling. Also, another factor affecting the elastomeric coupling market is its sensitivity to extreme temperatures, as high temperatures cause wear and degradation of the elastomer, affecting the coupling's performance and lifespan. Low temperatures lead to the elastomer to become stiff and brittle, which can make it more susceptible to damage. In addition, the elastomeric material absorbs shock and vibration, but it also gets damaged by excessive shock or vibration. Additionally, they are also limited to a certain speed range, and their operation at excessive speed leads to overheating and failure. Overall, elastomeric couplings are a versatile and reliable option for many applications, but due to their restraints, they declined the elastomeric couplings market size.

Opportunities:

Elastomeric couplings are typically made from materials that are soft and flexible. However, there is a need for elastomeric couplings that can transmit higher torques and accommodate greater misalignment. Hence, the development of new elastomeric materials with higher strength can provide opportunities for the manufacturers to increase the elastomeric couplings market size. Moreover, elastomeric couplings are sensitive to extreme temperatures, which limits the elastomeric couplings market growth; therefore, the manufacturers can leverage this opportunity to develop new elastomeric materials that can withstand extreme temperatures and make them suitable for various applications. Also, Elastomeric couplings are subjected to wear and tear when they are exposed to abrasive materials or harsh environments. The development of new elastomeric materials with better wear resistance can help extend the lifespan of elastomeric couplings and reduce the need for maintenance. Thus causing exponential market growth in the elastomeric couplings market.

Impact of COVID-19 on the Elastomeric Couplings market:

The outbreak of COVID-19 had a significant impact on the elastomeric couplings market size. The implementation of lockdown and travel restrictions led to disruptions to global supply chains and caused shortages of raw materials for elastomeric couplings. This directly caused higher prices for elastomeric couplings and made it difficult for manufacturers to get the materials they needed to produce these products, also causing a slowdown in the production process because of the unavailability of the workforce. Hence, this led to a decline in demand for elastomeric couplings in industries such as the automotive industry. Along with this, the combination of supply chain disruptions and shortages of raw materials increased the prices of elastomeric couplings, and overall, the pandemic negatively affected the elastomeric couplings market share.

Elastomeric couplings market Segmentation Analysis:

By Type:

• Jaw
• Gear
• Tire
• Dowel Pin
• Other

Based on the type, the elastomeric couplings market is divided into jaw, gear, tire, dowel pin, and other types. The tire type segment accounted for the highest market share, as tire-type couplings are the most common type of elastomeric coupling. They are relatively inexpensive, affordable, and also easy to install. It also accommodates a wide range of misalignment, which makes it an ideal choice for applications where there is a higher risk of vibration or shock. Tire-type couplings are available in a variety of sizes and torque ratings, making them suitable for a wide range of applications.

The gear segment is deemed to have prominent shares in the coming years due to the increasing demand for gear-type couplings in high-performance applications. At the same time, dowel pin-type and jaw-type elastomeric couplings are used in niche and limited applications. At the same time, the other type segment includes couplings that use a combination of elastomeric and metallic materials. These couplings are used in applications where there is a need for high-torque transmission.

By Application:

• Pumps
• Fans/Blowers
• Compressors
• Mixers
• Conveyors
• Dynamo
• Ship
• Mining
• Transportation
• Other

Based on the applications, the elastomeric couplings market is divided into pumps, fans/blowers, compressors, mixers, conveyors, dynamos, ships, mining, transportation, and others. The pump segment has the highest market share as pumps are used in a wide variety of applications, such as water, wastewater, and oil and gas. The elastomeric couplings used in pumps effectively transmit torque and accommodate misalignment between the pump and the motor. They are non-lubricated and require little maintenance; hence, they are a good choice for pumps. The conveyors segment is next in leading the largest shares of the market due to the increasing demand for conveyors in the manufacturing and mining industries. The other major application segments for elastomeric couplings are fans/blowers, compressors, and mixers, which are forecasted to have significant elastomeric couplings market growth. Whereas dynamos, ships, and mining have a low market share as compared to other applications.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

The Asia Pacific segment dominated the highest market share. The rapidly growing economy in emerging countries like India and China is majorly fueling the market demand in this region. These countries' economies are investing heavily in infrastructure and manufacturing, which is driving the demand for elastomeric couplings. North America is witnessed to hit the highest CAGR by the end of 2028 due to the increasing demand for elastomeric couplings in the automotive and oil and gas industries. Europe has a significant market growth rate during the forecasted period because of the increasing demand for elastomeric couplings in the machinery and manufacturing industries. Latin America has steady market growth, whereas the Middle East and Africa have low market share as compared to other regions.

Key Players in the Market:

Major Key Players in the Global Elastomeric couplings Market are

• Siemens (Germany)
• Regal Rexnord (U.S.)
• Dodge (U.S.)
• Altra Industrial Motion (U.S.)
• KTR (India)
• SKF (Sweden)
• VULKAN (India)
• Voith (Germany)
• LORD (U.S.)
• The Timken (U.S.)
• REICH (Germany)
• KWD (Kuwait)
• John Crane (U.S.)
• Renold (UK)
• Tsubakimoto Chain (Japan)
• R+W Coupling (U.S.)