Growth in Renewable Power to Boost the Global Fluid Couplings Market - Technavio
Technavio has published a new market research report on the global fluid couplings market from 2017-2021. (Graphic: Business Wire)
The report categorizes the global fluid couplings market by end-user, including the oil and gas industry, metals and mining industry, chemicals industry, and power plants. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: growth in renewable power generation
Renewables sources of energy have become cost-competitive compared with fossil fuels and are being used as primary sources of energy in many countries. In 2016, renewable energy accounted for more than 50% share of the energy mix in several European countries, including Norway, Iceland, and Sweden due to the enforcement of stringent emission norms by governments across the region. Fluid couplings are used mainly in power generation facilities to connect output shaft of motors to turbines' input shaft. These devices not only provide smooth start and torque control but also protect the equipment from shock overloads.
According to Kalle Deepak, a lead analyst at Technavio for automation research, “As renewable sources of energy gain popularity across the world, the demand for onshore oil and gas pipelines will be affected. The increase in the number of renewable power plants will drive the demand for high-quality fluid couplings that would be used in power plants for power transmission from motors to turbines.”
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Market trend: improvement in coupling technology
Fluid couplings that are generally used in high power transmission applications are made of steel or aluminum. The manufacturing process involves selective material deposition using precise computer control. The quality of the final product can be adjusted by changing the resolution of material deposition layers. Sensors in fluid couplings are usually only meant to send statistics about torque and load applied. However, manufacturers are interested in connected fluid couplings that can detect abnormalities and send signals to activate other devices, such as other safety couplings, torque limiters, and other equipment connected to powertrains.
Market challenge: improper selection of coupling
There are different fluid couplings, such as fluid couplings with gears and delay fluid fill chambers and fluid couplings with hollow shaft mount, available in the market and each of these is designed to meet the requirements of specific applications. An appropriate fluid coupling should be selected based on the application and torque requirement because an inappropriate device may cause failure and reduce efficiency drastically.
Key vendors in the market:
- Altra Industrial Motion
The global fluid couplings market is growing at a stable rate due to the presence of a respectable number of established vendors. Vendors are following the market trend and focusing more on the discrete industries that prefer real-time data recording in the transmission of power and torque. Vendors are focusing on expanding their services and are offering customized solutions based on users' requirements to retain their market share.
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