FORJ Contactless Couplers to Contribute Over 50.9% of Overall Contactless Coupler Sales
In the latest market report, Fact.MR comprehensively provided key trends and opportunities affecting the global contactless coupler market between 2022 and 2032. It also covers the major growth drivers influencing the growth in the market through leading segments including product type, use case, end-use industry, sales channel, and regions.
NEW YORK, March 22, 2022 /PRNewswire/ -- Fact.MR - A Market Research and Competitive Intelligence Provider: The global contactless coupler market is projected to reach US$ 471 Mn in 2022, growing at a CAGR of 5.4% between 2022 and 2032. The overall sales in the contactless coupler market are projected to reach US$ 803 Mn by 2032.
Increasing application of contactless power transmission in diverse industries including defense, automobile, aerospace, and others is set to bode well for the market. Additionally, rising demand for contactless coupler in telecommunication industry and need for automation in industrial sector is projected to drive the market.
Moreover, growing application of coupler in manufacturing industries, especially across emerging economies including South Korea, China, and Japan will boost the market.
Rising need to curb carbon emission and meet the energy demands is projected to increase the usage of wind turbines. This, in turn, is likely to surge the use of contactless coupler to improve their efficiency of power generation, thereby bolstering the growth in the market.
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Likewise, the application of couplers in the defense machinery for torque coupling, disk coupling, hysteresis coupling, and magnetic couplings are estimated to create remunerative opportunities for the market.
Additionally, the growing demand for contactless couplers to advance industrial automation using data transmission machinery and efficient power supply in the U.S. will boost the market over the next few years.
As per Fact.MR, the demand for fibre optic rotary joints (FORJ) is increasing due to the growing application of Ethernet connections in aerospace and manufacturing sector. In response to this, the supply & demand of contactless couplers is also expected to rise in the coming years.
Report Attributes | Details |
Base Year Value (2021A) | US$ 450.1 Mn |
Estimated Year Value (2022E) | US$ 471 Mn |
Projected Year Value (2032F) | US$ 803 Mn |
Global Growth Rate (2022-2032) | CAGR 5.4% |
Key Takeaways:
- The contactless coupler market is estimated to hold nearly 5% of demand share in the global coupler market.
- Based on application, the industrial automation segment is anticipated to account for US$ 171 Mn by the end of 2032.
- In terms of product type, the fiber optic rotary joints segment is estimated register growth at a CAGR of 5.5% during the forecast period.
- China contactless coupler market is expected to account for almost 58.3% share owing to the demand for efficient machineries.
- The U.S. contactless coupler market is projected to surpass US$ 127 Mn owing to the rapid advancements in industrial automation, defense, and aerospace sectors.
Growth Drivers:
- Decentralization of industrial manufacturing coupled with technological advancements is projected to create immense growth opportunities for the market.
- Rising demand for wireless slip rings for industrial robots in various industries will further increase the sales of contactless coupler.
- Restraints:
- High installation cost of contactless couplers is one of the primary factors likely to inhibit the sales in the market.
- Lack of awareness regarding contactless coupler among small and medium enterprises (SMEs) in developing countries will hamper the growth in the market.
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Competitive Landscape:
The global contactless coupler market is moderately fragmented owing to the presence of tier-1 players including Cobham France SAS, PHOENIX CONTACT, Moog, NSD Corporation, Spinner, and Schleifring GmbH. Top 5 players in the contactless coupler market will account for nearly 35% share.
Key players are focusing on strengthening their global footprint by adopting business strategies such as partnerships, collaborations, and others. Furthermore, some of the players are also advancing their production processes and updating their product portfolio to gain a competitive edge.
For instance,
- In April 2021, PHOENIX CONTACT recently developed CONTACTRON Speed Starter to bridge the gap between motor starters and variable frequency drives. This device without any complexities performs critical functions common in a variable frequency drive (VFD).
Key Companies Profiled by Fact.MR
- Balluff Inc
- Cobham France SAS
- LTN SERVOTECHNIK GMBH
- Turck Inc.
- BGB
- TE Connectivity Ltd.
- PHOENIX CONTACT
- Schleifring GmbH
- Radiall
- SMITEC S.p.A.
- Spinner
- Weidmüller
- Conductix-Wampfler
- Mercotac Inc.
- SMW Electronics
- Kubler Moflon
- Panlink
- Moog
- NSD Corporation
More Valuable Insights on Contactless Coupler Market
Fact.MR, in its report, offers a market analysis on the global contactless coupler market providing unbiased analysis for the forecast period of 2022 to 2032. This survey also reveals the key growth factors affecting the sales in the contactless coupler market with detailed segmentation as follows:
By Product Type:
- FORJ Contactless Couplers
- Single-Channel Contactless Couplers
- Multi-Channel Contactless Couplers
- Inductive Couplers
- Capacitive Couplers
- Others
By Use Case:
- Data Transmission
- Less than 1 Gbps
- 1-3 Gbps
- 3-5 Gbps
- Above 5 Gbps
- Power Transmission
- Upt300 W
- 300-500 W
- Above 500 W
- Hybrid
By End-use Industry:
- Telecommunications
- Energy & Utility
- Electrical & Electronics
- Healthcare & Medical Devices
- Industrial Automation
- Aerospace & Defense
- Marine
- Automotive
- Others
By Sales Channel:
- OEMs
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Key Questions Covered in the Contactless Coupler Market Report
- At what rate will the global contactless controller market grow during the forecast period (2022-2032)?
- Which are the factors impeding the growth of the global contactless controller market?
- Who are the dominating players in the contactless controller market?
- What was the revenue share of the contactless controller market in 2021?
- Which region will lead the global contactless controller market?
- What is the estimated revenue share of the IoT microcontroller market in 2022?
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