Fluid Couplings Market Size, Share & Trends Analysis Report By Type (Constant-fill Fluid Couplings, Variable Speed Fluid Couplings), By End-User (Mining, Oil and Gas, Cement, Steel and Metal processing, Paper, Paperboards, Packaging and Labeling, Power Generation) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Fluid Couplings Market Size

The global fluid couplings market size was valued at USD 2 billion in 2023 and is estimated to reach from USD 2.08 billion in 2024 to USD 2.8 billion by 2032, registering a CAGR of 4.3% during the forecast period (2024-2032). 

The superior advantages of fluid couplings, such as smooth power transmission, overload protection, and high efficiency due to reduced slip at rated duty, will further drive the global market.

A fluid coupling is a hydrodynamic mechanism that employs transmission fluid to transmit rotational mechanical power from one shaft to another. These sizable industrial apparatuses enable regulated slippage between the input and output without necessitating any machine interaction. Fluid couplings are beneficial for engineers in various power transmission applications. Advantages of this system include the ability to control the start, slower acceleration, protection against overload, energy savings, precise speed control, and long-term durability of the drive without any mechanical contact between transmission elements.

The global fluid coupling market is expected to grow significantly during the forecast period due to the increasing utilization of centrifuges, revolving pumps, mixers, agitators, crushers, grinding mills, and machine tools in various industrial sectors. Moreover, the need for fluid coupling is projected to rise due to the rapid growth of the general industrial sector, specifically in the mining, food and beverage, construction, pharmaceutical, and power industries.

Highlights

• Constant-fill fluid couplings generate the highest revenue share based on type.
• Oil and Gas generate the highest revenue share based on end-users.

Fluid Couplings Market Growth Factors

Rise in mining activity

The global increase in mining operations is driving the demand for fluid couplings. Conveyors employed in surface and underground mines, mineral-processing plants, docks, and ports often transport hundreds, if not thousands, of tons daily. Manufacturers are increasing the limit on belt-conveying capacity in response to the increasing global demand for natural resources. This has led to more extensive designs requiring more powerful drivers. This results in increased loads and potentially more wear. These conveyors with larger capacities are typically designed with narrower safety margins on the belt, necessitating more precise management of the driving system to assure optimal availability and minimize any unforeseen interruptions.

Furthermore, hydrodynamic fluid couplings effectively absorb torque overloads and torsional shock, protecting these systems' motors, belts, and gear reducers. They optimize power transfer and continuously regulate torque, acceleration, and operational velocity. Furthermore, when loaded beyond the maximum capacity, they experience slippage and efficiently safeguard the driveline from damage. Global Data Analytics reported 511 asset transactions in the mining sector from 1 January 2023 to 15 December 2023, with a cumulative value of USD 29,393 million. Of these, there were 305 purchases with a total value of USD 70,931 million and 12 mergers with a total of USD 565 million.

Therefore, the mining industry is a significant purchaser of fluid couplings. The worldwide mining sector seeks safe and environmentally friendly goods while also enhancing mining productivity. Fluid couplings are essential for mining and bulk material handling equipment such as conveyors, excavators, fans, mills, mixers, pumps, and screening facilities. The growing mining industry has led to an increased use of machinery and components for handling large amounts of materials, resulting in a higher need for fluid couplings.

Restraining Factors

Low power transmission efficiency

The global fluid coupling market, which utilizes hydraulic fluid to transmit rotational power, is now encountering difficulties due to its low power transmission efficiency. Fluid couplings are used extensively in several industries, including mining, automotive, and manufacturing, mainly because they offer seamless and regulated power transmission, safeguard machines from sudden impacts, and can handle misalignments. Nevertheless, the inherent inefficiencies in power transmission present a substantial obstacle to expanding the market.

Another significant concern arises from the fact that fluid couplings can dissipate considerable energy as heat while in operation. This lack of efficiency not only decreases the system's overall energy efficiency but also requires additional cooling devices, which can raise operational costs and complexity. These losses can be especially noticeable in high-power applications, resulting in substantial energy inefficiency and increased operational expenses.

Furthermore, as there is an increasing focus on energy conservation and strict regulatory criteria to decrease industrial energy usage, the drawbacks related to fluid couplings are becoming more troublesome. Industries are progressively searching for options that provide superior energy efficiency and reduced operational expenses. The transition is creating a need for more effective power transmission technologies, such as variable frequency drives (VFDs) and magnetic couplings, that can provide superior performance while minimizing energy losses.

Market Opportunities

Rising demand in aeronautical applications

The global fluid coupling market experiences substantial expansion due to its close association with the aeronautical sector, which heavily depends on sophisticated and dependable power transmission systems. Fluid couplings are vital in aviation applications because they facilitate the seamless transmission of mechanical power in machines.

In addition, the desire for high-efficiency and lightweight components in aircraft engines and systems drives the adoption of fluid couplings. These couplings provide the best possible performance by reducing the impact of sudden loads and vibrations, resulting in less damage to the components. This ultimately improves the durability and dependability of aeronautical systems. The increasing focus on improving fuel efficiency and decreasing greenhouse gas emissions requires adopting improved fluid coupling technologies, which enhance engine performance by promoting smoother and more efficient operation. Fluid couplings were extensively utilized in aeronautical applications, particularly in the DB 601, DB 603, and DB 605 engines. In these engines, the fluid couplings served as barometrically controlled hydraulic clutches for the centrifugal compressor. They were employed in the Wright turbo-compound reciprocating engine, where three power recovery turbines extracted around 20 percent of the energy (equivalent to approximately 500 horsepower or 370 kW) from the engine’s exhaust gases. The low-torque, high-speed turbine rotation was converted to low-speed, high-torque output to drive the propeller using three fluid couplings and gearing.

Furthermore, the aerospace industry's stringent safety and performance criteria stimulate advancements in fluid coupling designs. Continuous research and development in this subject is driven by the demand for durable, high-performing components that can endure extreme operating conditions, including high temperatures and pressures. Consequently, this stimulates market expansion as producers endeavor to fulfill these rigorous demands with state-of-the-art solutions. The growth of the worldwide aircraft sector, which encompasses the rise in both commercial air travel and military aviation, enhances the need for fluid couplings. According to the IATA, the projected number of air passengers is expected to increase to 4.7 billion in 2024, compared to the 4.5 billion people who traveled in 2019. The ongoing enhancement and upkeep of aircraft fleets require dependable and effective power transmission solutions, which in turn drives the expansion of the market.

Regional Insights

North america: dominant region with 4.1% growth rate

North America is the most significant global market shareholder and is estimated to grow at a CAGR of 4.1% over the forecast period. The increasing utilization of fluid coupling in the growing power generation and oil & gas industries is a significant factor that is anticipated to propel the market. There has been a substantial increase in the quantity of power plants around the United States in recent years. This results from the increasing industrial, commercial, and residential energy requirements. According to the U.S. Energy Information Administration (EIA), there are approximately 11,925 large-scale electric power plants in the United States in 2021.

Additionally, the increasing quantity of power plants is significantly contributing to the advancement of the fluid coupling industry. Fluid couplings are extensively utilized in power plants because of the absence of a mechanical linkage between the input and output shaft, hence minimizing the likelihood of wear and damage. These couplings also offer seamless and regulated acceleration and efficient damping in response to changes in load or shock. The significant presence of prominent manufacturers of fluid couplings is a crucial factor contributing to the growth of the fluid coupling market share worldwide.

Asia pacific: fastest growing region with 4.7% growth rate

Asia-Pacific is estimated to grow at a CAGR of 4.7% over the forecast period. Rapid industrialization and urbanization, particularly in China and India, are the main drivers of growth in the Asia Pacific fluid couplings market. Rising investments in the mining, cement, and steel sectors are driving the need for solid and effective power transmission systems. The expanding automotive industry, driven by its demand for dependable and high-efficiency automobiles, continues to drive the market forward. Furthermore, the progress in infrastructure construction, together with the increasing acceptance of energy-efficient technology, contributes to the expansion of the industry. Government actions supporting the industrial and heavy industries sectors substantially contribute to the growing market in this region.

The European fluid couplings market is propelled by the region’s robust emphasis on industrial automation and modernization in the manufacturing and processing sectors. The automotive industry, which plays a significant economic role, requires effective power transmission systems to enhance market expansion. Environmental legislation and the promotion of energy-efficient technologies are also essential factors. The proliferation of renewable energy projects and the advancement of infrastructure upgrades bolster market demand. Furthermore, the fluid couplings market in Europe experiences strong growth due to the existence of well-established companies and ongoing technical improvements.

Fluid Couplings Market Segmental Analysis

By type

Based on the type, the market is segmented into Constant-Fill Fluid Couplings and Variable Speed Fluid Couplings. The constant fill fluid couplings segment dominated the market in 2023. Constant fill fluid couplings are extensively employed in several industries. These devices are self-contained and equipped with surface cooling. They are primarily utilized to restrict start-up torque, torsional vibration, and maximum torque. In this form of coupling, the oil filling is permanently secured. The utilization of continuous fill fluid couplings has several advantages, including progressive start-ups, low energy usage, and less current absorption. In addition, they protect both the machine and motor against vibrations, overloads, and obstructions. The increasing utilization of constant fill fluid couplings in industrial equipment and other applications would enhance the target market's expansion throughout the evaluation time.

The variable speed segment is the fastest growing. This is due to its superior capability to regulate the speed of the driveline, resulting in enhanced performance and torque transmission. Furthermore, variable couplings find application in various equipment, including centrifuges, reciprocating pumps, mixers, agitators, crushers, grinding mills, cranes, and conveyors. Moreover, the growing preference for variable-speed fluid couplings in various applications, such as centrifugal pumps and compressors, fans and blowers, centrifuges, and belt conveyors, will contribute to the rising demand for fluid couplings in the projected timeframe.

By application

Based on the application, the market is segmented into Mining, Oil and Gas, Cement, Steel and Metal Processing, Paper, Paperboards, Packaging and Labeling, and Power Generation. The oil and gas segment dominated the market in 2023. Fluid couplings are becoming more prevalent in the oil and gas industry for power transmission in gas turbines, compressors, pumps, and other machinery. This is because they meet the specific torque needs of the oil and gas industries and enable advancements in turbomachinery technology. The advancement of high-performance fluid couplings with enhanced stability and increased velocity, specifically designed for oil & gas applications, will significantly improve the target market.

The mining segment is the fastest growing. Mining is crucial for the expansion of the worldwide fluid coupling market. Fluid couplings play a vital role in mining operations by facilitating efficient power transmission in heavy machines, improving operational reliability, and minimizing downtime. The global increase in mining operations, fueled by the growing demand for minerals and resources, directly amplifies the requirement for robust and reliable fluid coupling systems. In addition, the progress in mining technologies and equipment drives market expansion by requiring fluid coupling products to have increased performance and durability. The expanding mining industry is driving the demand for fluid couplings, which play a crucial role in ensuring the operational viability of the sector.

The power generation segment is the second largest. Power generation greatly influences the worldwide fluid coupling market is growth. Fluid couplings play a crucial role in power plants by enabling seamless and effective transfer of electricity between various equipment, including turbines, pumps, and generators. The worldwide transition to renewable energy sources and improving current power infrastructure drive the need for sophisticated fluid coupling technologies. The demand for better efficiency, dependability, and decreased maintenance costs in power generation systems drives this demand. Hence, the global increase in power generation capabilities directly drives the growth of the fluid coupling market, highlighting its crucial significance in the energy industry.

Recent Developments

• April 2024– Transfluid S.p.A. introduced hydraulic couplings specifically engineered to enhance the safety and efficiency of your industrial machinery. They enable a smooth rotation, even with high inertia, to provide a gradual start to the machine. This helps prevent any potential damage or overheating.
• April 2024- Palmer Johnson, an authorized distributor for three globally renowned coupling manufacturers: Centa, Reich, and Torsion Control Products (TCP). These businesses produce a high-quality product to reduce torsional vibration in flywheel-mounted diesel engine applications. Reich provides the ARCUSAFLEX coupling, while Centa supplies the CENTAFLEX series. These couplings are highly flexible and have a high degree of torsional softness. They are particularly suitable for applications involving pump drives and gearboxes, where torsional vibrations originate from the engine.