There is a good opportunity for growth of the global fluid coupling market in the power generation sector. Elecon Engineering Company Ltd estimates good opportunity for growth of fluid coupling in power equipment, power transmission, power distribution, and power generation. The expected potential of investment is estimated to be US$ 225 billion till 2024.
According to International Energy Agency (IEA), in 1990, global energy generation was 8,774 Mtoe (Million tons of oil equivalent) which has increased at a CAGR of 1.8% to reach 13,647 Mtoe in 2015. Asia Pacific had a market share of 29.3% in 1990 which has increased to 47.7% in 2015. In both China and India, respective governments are taking steps to increase energy production. Government of India (GoI) intends to increase renewable energy production by 175 GW by 2024 and increase wind energy production from the current 20 GW to 60 GW by 2024. Thus, with increasing growth of the global power sector, especially in Asia Pacific, the power industry is subsequently expected to drive the demand for fluid couplings.
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Fluid couplings are heavy industrial devices. Although they require periodic servicing, they are less replaceable in the short term. Additionally, the price of variable-speed fluid couplings is comparatively higher than constant-fill or constant speed fluid couplings. These factors are restraining the growth of the global fluid coupling market.
A growing trend in the global fluid coupling market is the rising demand for smaller-capacity fluid couplings. Rising construction of power plants for Independent Power Producers (IPP) is creating demand for smaller-capacity fluid couplings. In the U.S, utilities are allowed to purchase energy from NUGs (Non-utility Generators).This allows NUGs to receive a reasonable to excellent price for the energy they produce and ensures that energy generated by small producers will not be wasted.
Another trend seen in the global fluid coupling market is the improvement in coupling technology. The manufacturing process for fluid coupling involves selective material deposition using precise computer control. Final quality of the product can be modified by changing the resolution of material deposition layers.
Sensors in fluid couplings are usually only meant to send data about the product. However, manufacturers are interested in fluid couplings that can detect abnormalities and send signals to activate other devices. Manufacturing companies are also working closely with international OEM’s, mine owners, and equipment operators to manufacture systems that meet industry needs and standards.
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A significant trend seen in the global fluid coupling market is the growing demand for natural resources and conveyors. Worldwide growing demand for natural resources has made manufacturers increase the capacity limit on belt-conveyors, resulting in larger and longer designs that require more powerful drives.
Based on type, the global fluid coupling market is segmented into constant-fill fluid couplings and variable speed fluid couplings. Based on industry, the market is segmented into mining, chemicals and petrochemicals, cement, steel and metal processing, paper, paperboards and packaging &labeling, power generation and others (food & beverage, pharmaceuticals, water & wastewater management).
Geographically, the global fluid coupling market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The regional fluid coupling markets have been analyzed in terms of value in US dollars (US$) and volume in thousand units. Prominent countries profiled in the report include Canada, the U.S, U.K., France, Germany, Italy, Japan, China, India, GCC countries, South Africa, and Brazil.
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Company profiles of major players include overview of the company, major business strategies, and key developments. The companies profiled in the global fluid coupling market include ABB Ltd, Siemens AG, Voith GmbH, Altra Industrial Motion, Rexnord Corporation, Fluidomat Limited, Elecon Engineering Company Limited, Transfluid S.p.A., VULKAN Group, and KTR Systems GmbH.
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