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Diaphragm Coupling In Turbo Machinery Global Market Report 2023
Major players in the diaphragm coupling in turbo machinery market are Regal-Beloit Corporation, John Crane, Eagle Industry Co. Ltd., Lenze SE, Rbk Drive Elements Limited, Rsv Industries India Pvt. Ltd.
New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Diaphragm Coupling In Turbo Machinery Global Market Report 2023" - https://www.reportlinker.com/p06479934/?utm_source=GNW
, Voith GmbH & Co. KGaA, Goodrich Industrial Couplings, Suoda Coupling Co. Ltd., SBPT Technologies Pvt. Ltd., Ruland Manufacturing Co., Bibby Turboflex, ESCO Group, Rathi Transpower Pvt. Ltd., and Flender.
The global diaphragm coupling in turbo machinery market is expected to grow from $4.20 billion in 2022 to $4.49 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The diaphragm coupling in the turbo machinery market is expected to reach $5.65 billion in 2027 at a CAGR of 5.9%.
The diaphragm coupling in the turbo machinery market consists of sales of multiple straight diaphragms and multiple convoluted diaphragms.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A diaphragm coupling is a type of flexible coupling used in turbo machinery to transmit torque between two shafts that are slightly misaligned. It consists of two sets of thin metallic diaphragms which are bolted together to form a series of corrugations.
North America was the largest region in the diaphragm coupling in turbo machinery market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in diaphragm coupling in the turbo machinery report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of diaphragm coupling in turbo machinery are single diaphragm and double and multiple diaphragm.Single diaphragm coupling refers to a type of flexible coupling used to transmit torque between two rotating shafts that are slightly misaligned, which is used in various energy equipment such as drilling equipment, turbine drives, compressors, and others.
These are made of metal diaphragm coupling, plastic diaphragm coupling, and others, used for various applications including power, oil and gas, chemicals, transportation, and others.
Demand for high-performance equipment is expected to propel the growth of the diaphragm coupling in the turbo machinery market going forward.High-performance diaphragm coupling refers to a device that handles misalignment based on the thickness distribution of the diaphragm.
Diaphragm couplings are used in oil and gas turbines to transmit power from the compressor to the turbine and absorb displacement to ensure proper torque transmission.For instance, in January 2023, Volvo Construction Equipment, a Sweden-based company that manufactures construction equipment and machines, stated that the net sales climbed by 27% in the fourth quarter of 2022 to SEK 27,596 million($ 21,812 million), with contributions from both machine sales and the service sector.
Adjusted for currency changes, net sales climbed by 13%, with net machine sales increasing by 15% and service sales remaining stable. Therefore, demand for high-performance equipment in the oil and gas industry is driving the growth of diaphragm coupling in the turbomachinery market.
Product innovation is a key trend gaining popularity in diaphragm coupling in the turbomachinery market.Major companies operating in the diaphragm coupling market in turbomachinery are developing innovative products to sustain their position in the market.
For instance, in January 2021, Voith Group, a Germany-based diaphragm coupling manufacturer, launched ’SafeSet EZi’ torque-limiting coupling equipment.The SafeSet EZi is technically enhanced equipment that protects transient loads, improves efficiency, and enables a reduction in downtime.
It is equipped with digital intelligence called Voith Dtect, which provides operator data on peak load slippage measurement and service indicators.
In April 2023, Regal Rexnord Corporation, a US-based manufacturer of power transmission components and electric motors acquired Altra Industrial Motion Corp. for an undisclosed amount. This acquisition broadens, diversifies, and enriches Regal Rexnord Corporation’s product portfolio where both companies are looking forward to enhancing the existing automation product portfolio and offering high-value offerings to customers. Altra Industrial Motion Corp. is a US-based manufacturer of diaphragm couplings, brakes, clutches, and other power transmission products.
The countries covered in the diaphragm coupling in the turbo machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The diaphragm coupling in turbo machinery market research report is one of a series of new reports that provides diaphragm coupling in turbo machinery market statistics, including the diaphragm coupling in turbo machinery industry global market size, regional shares, competitors with a diaphragm coupling in turbo machinery market share, detailed diaphragm coupling in turbo machinery market segments, market trends, and opportunities, and any further data you may need to thrive in the diaphragm coupling in turbomachinery industry. This diaphragm coupling in turbo machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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