Half Couplings Market Size, Share, Growth, and Industry Analysis by Type (Screw Thread Type and Socket Welding Type) By Application (Chemical Processing, Machinery Manufacturing, Food processing, and Others) Regional Forecast From 2024 To 2031

Updated On: 22 April 2024

Half Couplings Market Report Overview

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The global half couplings market size expanded rapidly in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the half couplings market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to generate substantial revenue by 2031, with a robust CAGR during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Two pipes are coupled together using forged couplings. Couplings can be socket-welded or threaded. A forged reduction coupling can be utilized if the two pipes being joined are not the same size. In a pipe system, couplings are a typical fitting. Governments are undertaking a number of steps to maintain the automobile sector's growth. For instance, Egypt adopted a national policy for localizing the automotive sector in June 2022. In order to achieve sustained development growth for all parties, the strategy intends to increase Egypt's footprints in Africa's burgeoning vehicle markets and forge strong commercial and investment ties with key regional trading partners.

Vehicle manufacturers must adhere to the DOT's guidelines for fuel economy and gas mileage in order to meet CAFE regulations. These guidelines have expanded the production of premium half couplings that can effectively reduce vehicle fuel emissions. To lower operational costs and equipment downtime, end users in a variety of industries are working to improve the overall performance of the equipment used for various operations. Throughout the forecast future, these factors are anticipated to propel the worldwide half couplings market.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth

The COVID-19 pandemic's detrimental consequences are mainly felt in the oil and gas industry, then the automotive industry. In Europe and North America, car manufacturing was reduced or ceased outright during the shutdown. The need for industrial hoses such as chemical, gas, and water hoses is predicted to expand throughout the forecast period as car production picks up after the pandemic. These factors might impact the half couplings market.

LATEST TRENDS

"Streamlining of Corporate Operations to Boost Market Growth"

The main trend propelling the half couplings market growth is the consolidation and streamlining of corporate operations. The manufacturing industry for couplings and power transmission has undergone significant concentration. To broaden their product ranges, get access to new markets, and enhance their consumer bases, several businesses have purchased rival firms. The purchase of Stromag by Altra Industrial Motion, the purchase of Cambridge by Rexnord, and the purchase of Lovejoy by Timken are three significant purchases from the previous year. Both businesses will concentrate on their areas of strength and set themselves apart from competitors. As businesses reduce extra costs, this trend is anticipated to continue during the projection period.

Half Couplings Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: Screw Thread Type and Socket Welding Type. The screw thread type is expected to lead the half couplings market share.

• By Application Analysis

Based on application, the market is segmented as follows: Chemical Processing, Machinery Manufacturing, Food processing, and Others. The chemical processing segment dominates the half couplings market share.

DRIVING FACTORS

"Strict Emission Rules to Facilitate Market Development"

The strict emission rules are a major factor in the half couplings market growth. To regulate harmful emissions and enhance the safety of operations, numerous countries and international agencies, including the US EPA, have created strict rules and guidelines for the mining, refining, oil and gas, electricity, and chemical industries. These innovations have accelerated the production of high-quality couplings that can shield finished goods from contamination. To control fuel efficiency and gas emissions, the US has established CAFE regulations under the Energy Policy and Conservation Act and GHG emission standards under the Clean Air Act.

"Application in Automotive Industry to Promote Industry Progress"

The automobile industry uses a variety of tools for testing and connecting a car to a trough, therefore half couplings are in high demand in this field. Also, the increasing use of electric vehicles internationally is expanding the half couplings market. Companies are moving towards Industry 4.0 in an effort to raise efficiency and part quality, which is giving coupling vendors a chance to increase production and meet the escalating demand from the industrial sector.

Half Couplings Market RESTRAINING FACTORS

"Aggressive Pricing Approach to Hinder Market Growth"

The primary obstacle preventing the half couplings market from expanding is the aggressive pricing approach used by Asian manufacturers with minimal overhead costs. Asian nations have significantly lower costs for land, labor, and raw materials than other locations, which is luring sizable investments in the manufacturing industry. Manufacturers of industrial machinery parts are making investments in low-cost equipment, tools, and solutions. Coupler costs make up a small portion of the overall purchase basket for end-user industries. To remain competitive in the market, coupling manufacturers are being forced to either lower prices or add new technologies to their products. The cost strain on half couplings market vendors is getting worse as couplings from Asian unstructured manufacturers are becoming more widely available at significantly reduced prices. During the projected period, this is anticipated to limit the half couplings market's expansion.

Half Couplings Market Regional Insights

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"Increase in Demand to Propel Market Progress in Asia"

Asia had the largest half couplings market in terms of both revenue and volume, and it is anticipated that it will continue to hold this position during the projection period. The three biggest markets in the Asian region’s largest half couplings market were China, India, and Japan. Furthermore, the region's prominence can be attributed to its rapid infrastructure development and thriving construction sector.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• HALESON (U.K)
• ASC Engineered Solutions (U.S.)
• Stainless & Alloy Piping (U.S.)
• Pipe Fittings Direct (U.S.)
• BFO (Belgium)
• Zizi Engineering (China)
• R&D Marine (U.K)
• Gibson Products (U.S.)

REPORT COVERAGE

The report covers overall market aspects, including market segmentation based on its type and application. The report depicts diverse participants, including the market and potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.