Global Torque Limiter Market - 2023-2030

Global Torque Limiter Market - 2023-2030

Global Torque Limiter Market reached US$ 285.2 million in 2022 and is expected to reach US$ 401 million by 2030 growing with a CAGR of 5.0% during the forecast period 2023-2030. Torque Limiter aids in network resource optimization, identifying possible problems or degradation and executing predictive maintenance. Companies can decrease operating costs and enhance network performance by anticipating problems and minimizing downtime.

During the forecast period, the global torque limiter market for balls and rollers is expected to account for nearly 30% of the market. On servo-driven axes like machine tools, woodworking equipment, robots and packaging machines, ball torque limiters are common. Although servo systems often come with electronic torque overload protection, ball detent torque limiters react significantly faster to minimize the risk of damage resulting from high-inertia loads.

Market Dynamics
Rising Focus on Energy Efficiency and Regulatory Compliance
Repairing or replacing machinery and equipment can be costly. Torque limiters protect costly machinery from damage caused by high torque, mechanical failures or unexpected jams, decreasing maintenance costs and downtime. Energy efficiency has become the primary concern of companies all around the world. For example, the European Union has committed to increasing energy efficiency by 20% in 2020 and at least 32.5% by 2030.

Torque limiters can help optimize energy consumption in machinery by limiting excessive torque and power wastage, resulting in increased energy efficiency and cost savings. Various sectors have regulations and standards in place to ensure worker and equipment safety. Torque limiters play an important role in achieving these regulatory standards, driving the demand for torque limiters that are compatible.

Growing Demand for Alternative Energy
The increased need for alternative energy sources such as wind energy is driving the demand for torque limiters in wind turbines. Torque limiters are used in wind turbines to protect the turbine blades from damage caused by high wind speeds. Torque limiters in wind turbines protect against equipment damage caused by overloading or torque overload, in addition to ensure worker safety.

Alternative energy is becoming increasingly common in organizations and corporations such as Amazon, Google and Microsoft. Torque limiters are used on propeller shafts and other marine equipment to protect against overload or torque overload damage. Furthermore, the use of torque limiters in marine equipment ensures worker safety while preventing equipment damage caused by overloading or torque overload.

High Costs and Limited Awareness
One of the greatest obstacles to the market for torque limiters is the high installation costs. Torque limiters are complicated to install and may be costly. Due to the high installation costs, small and medium-sized firms find challenging to utilize torque limiters, limiting market growth.

Torque limiter installation and maintenance require technicians with specialized expertise. However, the market lacks qualified technicians, limiting the adoption of torque limiters. A lack of skilled workers raises maintenance costs, limiting market expansion.

COVID-19 Impact Analysis
Consumer behaviour and market demands have changed as a result of the epidemic. Due to the need for essential products and equipment, some industries, such as healthcare, e-commerce and certain manufacturing segments (e.g., medical devices), have seen increased demand for torque limiters. However, companies highly impacted by the epidemic, such as aviation and hospitality, saw a decrease in demand for torque limiters.

Industries are likely to rebound as economies slowly recover from the pandemic, resulting in increased demand for torque limiters. In the post-pandemic period, the restart of construction projects, industrial production and infrastructure development may boost market expansion.

Russia-Ukraine War Impact Analysis
The conflict disrupted the global supply systems involving Russia and Ukraine. Both countries are key players in industries such as automotive, manufacturing and energy, all of which rely heavily on torque products. Supply disruptions in these regions' raw materials, components or finished products could have an impact on the global torque market.

The Russia-Ukraine war may cause market dynamics to shift as companies seek other suppliers or adjust their supply chains to reduce risks. It could open up new possibilities or issues for torque manufacturers in other parts of the world, affecting market competition and pricing.

Segment Analysis
The global torque limiter market is segmented based on type, range, end-user and region.

The Rising Productivity in Automated Machinery in Packaging and Labelling Sector

The packaging and labelling, which is the largest, is projected to account for around 35% share of the global torque limiter market in 2022. The increasing demand for automation is driving the torque limiter market in the packaging and labelling industry. Torque limiters are required for automated machinery in the packaging and labelling industry to ensure smooth operation and protect against overloading.

The usage of torque limiters increases the productivity of automated machinery while also increasing process efficiency and reducing downtime. ENEMAC, for example, offers a stainless steel version for controlling torques in indirect drives of packing machinery. It meets the specific hygienic requirements of the food, pharmaceutical and medical industries.

Geographical Analysis
The Rising Need For Automation and Enhanced Security in Asia-Pacific
Asia-Pacific is anticipated to experience the fastest growth in the global torque limiter market during the forecast period 2023-2030. As more companies automate their production processes, the demand for torque limiters increases. Torque limiters are an essential component of automated manufacturing processes because they minimise the possibility of machine overload or jamming.

Torque limiters help to prevent accidents by disengaging power immediately when a torque overloading occurs, which is critical in industrial settings. according to the International Labour Organisation, work-related illnesses and accidents are responsible for at least 1.2 million deaths annually and the loss of 55 million healthy years in Asia-Pacific. All occupational accidents and diseases are preventable. As companies become more safety-conscious, the demand for torque limiters is expected to increase.

Competitive Landscape
The major global players include Rexnord Corporation, Martin Sprocket & Gear, Regal Beloit Americas Inc., ABB Motors and Mechanical Inc., Altra Industrial Motion, Dalton Gear Company, Fenner Drives, Inc., Nexen Group, Inc., KTR Systems GmbH and ComInTec S.r.l.

Why Purchase the Report?
• To visualize the global torque limiter market segmentation based on type, range, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of torque limiter market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global torque limiter market report would provide approximately 61 tables, 62 figures and 203 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies