Frequently asked questions
In 2022, the global Shrink Disc Market is expected to be worth USD 10215.5 million.
The Shrink Disc Market is estimated to increase at a CAGR of 8.00% between 2023 and 2030, reaching USD 18908.1 Million in 2030.
Wind energy, which accounted for a large portion of the worldwide market in 2022
The Custom Sizes division is in charge of the demand
The Construction and Mining industry is the fastest growing
North America will account for more than two-fifths of global shrink disc market revenue in 2022
The top players include Stuewe, Longwin Group, Ringfeder, Ringspann, Norelem, MAV, Yuhuan Fittings, VULCAN Industrial Engg, Shanghai Shuangqing Machinery, RINGSPANN GmbH, WITTENSTEIN SE
Increasing demand for high torque transmission and secure connections in various industries, Growing focus on reducing downtime and maintenance costs by using efficient shaft-hub connections and Technological advancements leading to improved performance and ease of installation of shrink discs are the key drivers of the market
High initial costs involved with shrink disc procurement and installation; limited availability of qualified technicians for effective installation and maintenance; and potential issues in retrofitting existing systems with shrink discs due to design constraints.
Key market participants’ manufacturing capacities and product offerings are expanding. Shrink discs are becoming increasingly popular in growing industries and areas. Raising awareness about the benefits of shrink discs and their potential uses in a variety of industries.