The global couplings market to grow at a CAGR of 2.22% during the period 2017-2021.
Global Couplings Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the demand from selected end-users.
The latest trend gaining momentum in the market is Economic growth in developing countries. The growth in developing nations in Asia, Africa, and South America can be a factor that can significantly push the demand for couplings. Being developing nations, countries in these regions do not have the level of infrastructure and consumption that developed countries enjoy. Therefore, the scope of growth for these countries remains very high. If these countries are to grow, they will require significant investments in infrastructure, energy, and manufacturing industries. This will have a positive impact on the demand for couplings as its demand is linked to the state of these industries.
According to the report, one of the major drivers for this market is Growth in global lumber industry. The lumber industry accounts for a significant share of the overall couplings demand. Couplings find applications in saws, lumber mills, wood processing machines, and planer drives. Modern mills are mostly automated with very less labor requirement for processing. The growth in demand for lumbers during the next five years will be a factor driving the growth of the couplings market. ma
Further, the report states that one of the major factors hindering the growth of this market is Volatile raw material prices. The players in this market are facing stiff competition from rival companies as products are generally similar and new product developments are very rare. Greater margins can only be realized through bigger economies of scale, reducing the cost of manufacturing. However, the costs of raw materials are market determined and usually extremely volatile.