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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