Torque Limiter Market |
The torque limiter market comprises various products that are used to protect mechanical drivelines or couplings from over-torquing. Torque limiters are installed between the prime mover and driven equipment to prevent damage from shock-loads or overloads. They are mainly used in industrial applications where consistent torque levels need to be maintained for smooth operations. The expanding manufacturing industry globally has been driving significant demand for torque limiters as they help protect costly equipment from damage.
The global torque limiter market is estimated to be
valued at US$ 4.70 Bn in 2024 and is expected to exhibit a CAGR of 5.9% over
the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the torque limiter market are Rexnord Corporation.,
Martin Sprocket & Gear., Regal Beloit Americas Inc., ABB Motors and
Mechanical Inc., Altra Industrial Motion., Dalton Gear Company., RINGFEDER
POWER TRANSMISSION,, Fenner Drives, Inc., Chr. Mayr GmbH + Co. KG., KTR Systems
GmbH., Nexen Group, Inc. These players are focusing on new product development
and expansion strategies to gain market share.
The key opportunities in the Torque
Limiter Market Size include demand from industries such as food and
beverage, energy and power, chemical, and oil and gas. Adoption of automated
machineries is further creating opportunities for torque limiters.
Global expansion strategies of key players include partnerships, mergers and
acquisitions which is helping them strengthen their foothold in different
geographies especially in emerging economies of Asia Pacific and Latin America.
Market Drivers
Expanding manufacturing industry: Growth in manufacturing sector such as
automotive, electronics, machinery etc. is driving the need for torque limiters
to protect equipment from damage.
Rise in automation: Adoption of
automated plant equipment and need to prevent damage caused due to machine
faults is a key factor augmenting demand.
Market Restraints
High maintenance cost: Torque
limiters need regular maintenance checks to ensure smooth functioning which
increases operating expenses for end users.
Availability of alternatives:
Presence of alternatives such as clutches, brakes, gearboxes etc. that can
limit torque pose competition to torque limiters.
Segment Analysis
The torque limiter market is segmented on the basis of overload type into
frictional and hysteresis torque limiters. Frictional torque limiters dominate
the overall market as they are cost effective, easy to install and require minimal
maintenance. However, hysteresis torque limiters are gaining traction due to
their high torque transmitting capacity without producing wear and tear.
Global Analysis
Regionally, Asia Pacific holds the largest share in the torque limiter market
and is expected to remain the fastest growing region during the forecast
period. This is attributed to increasing industrial automation and growing
manufacturing sector across countries like China and India. Furthermore, rising
focus on worker safety regulations to prevent equipment damage and personnel
injury is also driving the adoption of torque limiters in the region. Europe is
another major region where Germany, UK, and Italy collectively account for over
30% of the total European market. Stringent workplace safety norms coupled with
presence of major automotive OEMs have propelled the torque limiter market in
Europe.
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More Insights On Torque
Limiter Market
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