Press release
Diaphragm Couplings Driving Turbo Machinery Efficiency
According to The Business Research Company's, The diaphragm coupling in turbo machinery market size has grown strongly in recent years. It will grow from $4.49 billion in 2023 to $4.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to customization for varied applications, industrial automation integration, adoption in high-speed machinery, advancements in material engineering, energy sector demand..
The diaphragm coupling in turbo machinery market size is expected to see strong growth in the next few years. It will grow to $6.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising safety standards, rise in industrial automation, demand from energy sector, focus on machinery efficiency, expansion of manufacturing sectors.. Major trends in the forecast period include customization for specific applications, precision and performance, innovative high-speed machinery, advancements in material technology..
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Market Drivers and Trends:
Demand for high-performance equipment is expected to propel the growth of the diaphragm coupling in the turbo machinery market going forward. High-performance diaphragm coupling refers to a device that handles misalignment based on the thickness distribution of the diaphragm. Diaphragm couplings are used in oil and gas turbines to transmit power from the compressor to the turbine and absorb displacement to ensure proper torque transmission. For instance, in January 2023, Volvo Construction Equipment, a Sweden-based company that manufactures construction equipment and machines, stated that the net sales climbed by 27% in the fourth quarter of 2022 to SEK 27,596 million($ 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.
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Major Key Players of the Market:
Regal-Beloit Corporation; John Crane Inc.; Eagle Industry Co. Ltd.; Lenze SE; Rbk Drive Elements Limited; Rsv Industries India Pvt. Ltd.; Voith GmbH & Co. KGaA; Goodrich Industrial Couplings Corporation; Suoda Coupling Co. Ltd.; SBPT Technologies Pvt. Ltd.; Ruland Manufacturing Co.; Bibby Turboflex Limited; ESCO Technologies Inc.; Rathi Transpower Pvt. Ltd.; Flender GmbH; Altra Industrial Motion Corp.; R+W Coupling Technology; Kupplungstechnik GmbH; Siemens AG; Rexnord Corporation; Timken Company; Svenska Kullagerfabriken; Tsubakimoto Chain Co.; Renold Plc; Huco Dynatork; Mayr GmbH; Nabeya Bi-tech Kaisha Ltd.; Miki Pulley Co. Ltd.; Helical Products Company Inc.; Zero-Max Inc.; GAM Enterprises Inc.; ComInTec S.r.l.; Reich-Kupplungen Dipl.-Ing. Herwarth Reich GmbH
Diaphragm Coupling In Turbo Machinery Market 2024 Key Insights:
• The diaphragm coupling in turbo machinery market will grow to $6.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
• Surge In Demand For High-Performance Equipment Boosts Diaphragm Coupling Adoption In The Turbomachinery Market
• Voith Introduces 'safeset Ezi' With Cutting-Edge Technology
• North America was the largest region in the diaphragm coupling in turbo machinery market in 2023
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