The Europe High Flexible Coupling Market would witness market growth of 4.2% CAGR during the forecast period (2023-2030).
The growing number of infrastructure projects, the rise in the requirement for reliable power delivery, and other factors are anticipated to fuel the market's growth in the ensuing years. The demand for High Flexible Couplings is being fueled by the expansion of infrastructure and building projects around the region. These couplings are additionally used in various construction equipment, such as cranes, excavators, and concrete pumps, to help in torque transmission and misalignment correction.
Rapid urbanization owing to the rising population is significantly impacting the rising requirement for infrastructure development. The demand for material-handling machinery like excavators and pullers is also anticipated to expand as building activity picks up. Also projected to enhance demand for material-handling equipment like excavators and pullers is a rise in construction activities.
The European Green Deal also made it evident that there was an increase in both public and commercial building refurbishment activities. As a result, initiatives were upsurged to rehabilitate historic structures to improve their energy efficiency, aiding this region in achieving its goals. Most renovation initiatives attempt to double energy efficiency while lowering emissions. For those who live in or use the structures, these changes will significantly increase their quality of life. They would also favor green building initiatives and the creation of new jobs. As these activities will require the use of numerous heavy machineries along with the repair and extension of power lines, it will also increase the usage of high flexible coupling in the associated sectors and equipment. Hence, the expansion of these activities will be beneficial for the regional market.
The Germany market dominated the Europe High Flexible Coupling Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $229.6 million by 2030. The UK market is estimated to grow a CAGR of 3.3% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 4.9% during (2023 - 2030).
Based on Industry, the market is segmented into Oil & Gas, Automotive, Power Generation and Others. Based on Material, the market is segmented into Steel, Rubber and Others. Based on Type, the market is segmented into Elastomeric Couplings, Disc Coupling, Grid Coupling, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide High Flexible Coupling Market is Projected to reach USD 3 Billion by 2030, at a CAGR of 4.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Timken Company, Kawasaki Heavy Industries, Ltd., Regal Rexnord Corporation (Stromag), VULKAN Group (Hackforth Holding GmbH & Co. KG), ComInTec S.r.l, RENK GmbH, KTR Systems GmbH, Renold plc, Ortlinghaus-Werke GmbH and Flender AG.
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