Shrink Disc Market Size, Share, Industry Analysis, Trends, Growth Report, 2030

Shrink Disc Industry Perspective: 

The global shrink disc market size was evaluated at $10 billion in 2022 and is slated to hit $25 billion by the end of 2030 with a CAGR of nearly 7.6% between 2023 and 2030.

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The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketspace. The shrink disc market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the shrink disc industry report explores the investor and stakeholder space to help companies make data-driven decisions.

Shrink Disc Market: Overview

The key function of a shrink disc is offering a secured connection of a shaft with a hub with the help of friction. These products are external locking equipment deployed over hub projections. Through the tightening of the screws used for locking the systems, the locking collars apply centrifugal forces on the tapering ring as well as on the hub. After bridging of the fit clearances, radial clamping pressure is generated between the shaft and hub, thereby setting up a solid & frictional link. The peripheral locking elements of shrink discs such as Conex shrink discs help in reducing the production costs of the hollow shaft of the gearbox, thereby preventing the equipment of the keyway seats as well as shaft axial fixing.

Key Insights

• As per the analysis shared by our research analyst, the global shrink disc market is projected to expand annually at the annual growth rate of around 7.6% over the forecast timespan (2023-2030)
• In terms of revenue, the global shrink disc market size was evaluated at nearly $10 billion in 2022 and is expected to reach $25 billion by 2030.
• The global shrink disc market is anticipated to record massive growth over the forecast period owing to an increase in the use of shrink discs in industrial automated systems such as robotic systems, conveyor systems, and machine tools.
• In terms of type, the heavy duty segment is slated to register the fastest CAGR over the forecast period.
• On the basis of material, the stainless steel segment is slated to dominate the segmental surge over the analysis timeframe.
• Based on application, the wind power segment is predicted to lead the segmental surge over the forecast timeline.
• Region-wise, the European shrink disc market is projected to register the fastest CAGR during the assessment period.

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Shrink Disc Market: Growth Factors

Huge product application in industrial automation to embellish the global market trends

An increase in the use of shrink discs in industrial automated systems such as robotic systems, conveyor systems, and machine tools will embellish the global shrink disc market. Furthermore, the massive application of the product in transmitting torque and the need for providing a safe fit between the shaft and the hub in industrial automated systems will prop up the scope of growth for the global market. Apart from this, technological breakthroughs such as innovations in lightweight materials and the development of advanced manufacturing methods will propel the global market trends. Additionally, the blend of IoT and AI systems in a slew of production processes is projected to embellish the expansion of the market across the globe.

Moreover, new product launches are predicted to favorably influence the expansion of the shrink disc market across the globe. Citing an instance, in April 2023, Knor-Bremse AG, a key German firm manufacturing braking systems for commercial vehicles and railways, launched a new air disc brakes prototype for ensuing road & traffic safety and reducing road collisions. The move will steer the demand for shrink discs in the upcoming years. In May 2019, Piedmont, a division of H2O Innovation Inc. and a key manufacturer of corrosion-resistant devices for desalination units, introduced a product portfolio of discs as well as screen self-cleaning filters.

Shrink Disc Market: Restraints

Fluctuations in government guidelines related to shrink disk production can impede the global industry expansion

Surging raw material costs and constant changes witnessed in government policies & legislation pertaining to the use of shrink discs can curtail the growth of the shrink disk industry across the globe. The easy availability of product substitutes can further deter global industry expansion.

Shrink Disc Market: Opportunities

A rise in the use of products in the energy & power sector can create new market growth opportunities

Escalating demand for high-performing equipment and automated systems will open new growth horizons for the shrink disc market globally. Apart from this, the humungous need for lightweight & durable shrink disks will help the market explore untapped growth potential across various regions globally. Massive demand for the product in power transmission will further generate lucrative growth opportunities for the market across the globe.

Shrink Disc Market: Challenges

Increase in the installation costs of the product can prove to be a big challenge in the global industry surge

The rising costs of advanced shrink disc systems are key challenges for the global shrink disc industry. In addition to this, the complicatedness of deploying as well as maintaining shrink discs is another major challenge inhibiting the expansion of the global industry.

Shrink Disc Market: Segmentation

The global shrink disc market is sectored type, application, material, and region.   

In type terms, the global shrink disc market is segregated into standard-duty and heavy-duty segments. In addition to this, the heavy-duty segment, which garnered over half of the global market share in 2022, is slated to register the fastest CAGR in the forecasting timeline. The segmental growth in the forecasting timeline can be owing to fatigue-resisting features and the durability of the product. Moreover, elongated lifespan along with growing demand for industrial-grade steel ball bearing slides will embellish the segmental surge.

Based on material, the global shrink disc industry is segregated into alloy, steel, and stainless steel segments. In addition to this, the stainless steel segment, which accumulated over two-thirds of the global industry share in 2022, is predicted to maintain segmental dominance in the forecasting timeframe. The segmental expansion in the forecasting timespan can be due to the beneficial features of the material. Moreover, the longevity and durable features of stainless steel as well as its sustainable and eco-friendly properties have enhanced its demand for the production of stainless steel.

On the basis of application, the shrink disc industry across the globe is sectored into automation equipment, heavy machines, transportation, wind power, mining, packaging machinery, aerospace, printing machine, CNC machine tool, marine industry, and others segments. Furthermore, the wind power segment, which accrued a major share of the global market in 2022, is anticipated to lead the segmental growth in the upcoming timeline. The segmental growth in the forecasting timeline can be subject to humungous penetration of shrink discs in power transmission activities across the globe.

Shrink Disc Market: Report Scope

Shrink Disc Market: Regional Insights

North America Shrink Disc market to establish a dominant position over the forecast timeframe

North America, which accrued more than two-fifths of the global shrink disc market revenue in 2022, is anticipated to register a remarkable expansion over the analysis timeframe. The regional market growth over 2023-2030 can be due to consistent technological breakthroughs taking place in countries such as Canada and the U.S. In addition to this, massive demand for new equipment in the region will proliferate the regional market size. Apart from this, manufacturers are focusing on producing shrink discs with unique embedded features, thereby creating a huge scope for the shrink disc market in North America. Moreover, the presence of key vendors and giant players will spearhead the expansion of the market in the sub-continent.

Furthermore, the shrink disc industry in Europe is anticipated to register the fastest CAGR in the assessment period. The factors that are likely to influence the growth of the regional industry include the presence of a strong product manufacturing base as well as an end-user base in the countries such as Germany, the UK, and France. In addition to this, a rise in the use of shrink discs in automotive, electronics, aerospace, healthcare, and food & beverages sectors in the continent will further elevate the growth of the industry in the European continent.

Shrink Disc Market: Competitive Space

The shrink disc market profiles key players such as:

• Stuewe
• Longwin Group
• Ringfeder
• Ringspann
• Norelem
• MAV
• Yuhuan Fittings
• VULCAN Industrial Engg
• Shanghai Shuangqing Machinery
• RINGSPANN GmbH
• WITTENSTEIN SE
• TAS-Schafer
• Dusterloh
• Rexnord
• True-Tech Industries
• Climax Metal Products Company
• Zero-max
• Fenner Drives
• Wofler
• Xianyang Chaoyue
• Luoyang Jinglian Mechanical

The global shrink disc market is segmented as follows:

By Type

• Standard-Duty
• Heavy-Duty

By Material       

• Steel
• Alloy
• Stainless Steel

By Application

• Automation Equipment
• Heavy Machines
• Transportation
• Wind Power
• Mining
• Packaging Machinery
• Aerospace
• Printing Machine
• CNC Machine Tool
• Marine Industry
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa