The Reports and Insights, a leading market research company, has recently releases report titled “Magnetic Couplings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.”The study provides a detailed analysis of the industry, including the global Magnetic Couplings Market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Magnetic Couplings Market?
The global magnetic couplings market size reached US$ 1,486.2 million in 2023. Looking forward, Reports and Insights expects the market to reach US$ 1,973.3 million in 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.
What are Magnetic Couplings?
Magnetic couplings are innovative devices that transfer torque between rotating shafts without physical contact, utilizing magnetic fields. They consist of two main parts: an outer driver unit and an inner driven unit, separated by an air gap. The driver unit, often linked to a motor, contains permanent magnets arranged in a specific pattern. Similarly, the driven unit, connected to the driven shaft, also contains magnets that interact with those in the driver unit. As the driver unit rotates, it generates a magnetic field that induces a magnetic force on the driven unit, causing it to rotate synchronously. This method of torque transmission offers several advantages over traditional mechanical couplings, such as hermetic sealing, reduced maintenance needs, and elimination of wear and tear from friction. As a result, magnetic couplings are well-suited for applications where preventing leakage or contamination is crucial, including pumps, mixers, and other rotating machinery in industries like chemical processing, food and beverage, and pharmaceuticals.
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What are the growth prospects and trends in the Magnetic Couplings industry?
The magnetic couplings market growth is driven by various factors and trends. The market for magnetic couplings is expanding due to increased interest in non-contact torque transmission systems across diverse industries. These couplings provide benefits like hermetic sealing, lower maintenance requirements, and the elimination of friction-related wear and tear. They are particularly favored in applications where preventing leaks or contamination is paramount, such as in the chemical processing, food and beverage, and pharmaceutical sectors. Moreover, ongoing advancements in magnetic coupling technology, including enhanced materials and designs, are driving further growth in the market. Hence, all these factors contribute to magnetic couplings market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Product Type:
- Permanent Magnetic Couplings
- Controllable Magnetic Couplings
By Magnetic Source:
- Permanent Magnet
- Electromagnet
By Application:
- Pumps
- Compressors
- Mixers and Agitators
- Fans and Blowers
- Other Industrial Machinery
By End-Use Industry:
- Oil & Gas
- Chemical
- Water and Wastewater Treatment
- Power Generation
- Pharmaceuticals
- Food and Beverage
- Others
Market Segmentation by Region:
North America:
- United States
- Canada
Europe:
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Poland
- BENELUX
- NORDIC
- Rest of Europe
Asia Pacific:
- China
- Japan
- India
- South Korea
- ASEAN
- Australia & New Zealand
- Rest of Asia Pacific
Latin America:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East & Africa:
- Saudi Arabia
- South Africa
- United Arab Emirates
- Israel
- Egypt
- Rest of MEA
Who are the key players operating in the industry?
The report covers the major market players including:
- ABB Ltd.
- Altra Industrial Motion Corp.
- Danfoss A/S
- Rexnord Corporation
- Voith GmbH
- Ebara Corporation
- KTR Systems GmbH
- Siemens AG
- MagnaDrive Corporation
- Sulzer Ltd.
- Regal Beloit Corporation
- Zero-Max Inc.
- WPT Power Corporation
- Miki Pulley Co., Ltd.
- Mayr GmbH
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