According to a new research report published by Transparency Market Research (TMR) , the global torque limiter market is expected to reach a value of ~US$ 350 Mn by 2027, expanding at a CAGR of ~5% from 2019 to 2027. According to the report, the global torque limiter market is likely to continue to be influenced by a range of macroeconomic and market-specific factors during the forecast period. In terms of demand, Europe is projected to continue to lead the global market, with the torque limiter market in the region expanding at a higher CAGR between 2019 and 2027.
Global Torque Limiter Market: Overview
- Torque limiters protect loads and equipment from extreme torque. They are also called safety couplings or overload clutches. They are used for machine shutdown and dissipation of rotational energy, without causing any damage to the machine.
- The global torque limiter market is experiencing steady growth, due to the increasing demand for protection of machines from overload in several end-use industries, including packaging & labelling and energy & power.
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Ball & Roller Type Limiters to Dominate Global Torque Limiter Market
- Ball & roller type torque limiters accurately disengage at a preset torque value, and offer a more predictable response as compared to other types of torque limiters. Furthermore, they have higher torque capability than other types. Thus, they are being highly preferred for use in applications such as food and textile processing and packaging.
- Ball & roller type torque limiters continue to transmit torque, as the balls in them do not disengage. Thus, they are largely employed for fail-safe mechanisms in applications such as conveyors and cranes. Owing to the above-mentioned factors, the ball & roller type segment is expected to dominate the global torque limiter market during the forecast period.
5013,000 Nm Range Torque Limiters to Lead Global Torque Limiter Market
- Among the torque ranges, the <150 Nm segment is expected to continue to dominate the global torque limiter market, in terms of volume, throughout the forecast period.
- However, owing to large differences between the prices of <150 Nm torque limiters and 5013,000 Nm torque limiters, the 5013,000 Nm segment is anticipated to hold a major share of the global market, in terms of revenue, during the forecast period.
Packaging & Labelling a Highly Lucrative End-use Industry of Global Torque Limiter Market
- Although the energy & power segment is anticipated to hold the maximum market share, the packaging & labelling segment is expected to be highly lucrative during the forecast period.
- According to the World Packaging Organization, in 2010, the global packaging industry was valued at ~US$ 600 Bn, and is anticipated to reach ~US$ 1 Trn by 2020. This growth is directly expected to increase the need for packaging machinery in the near future. This, in turn, is anticipated to drive the global torque limiter market during the forecast period.
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Asia Pacific to be a Highly Lucrative Market for Torque Limiters
- In terms of region, the global torque limiter market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe dominated the global market, holding 32.6% of the market share in 2018. The market in the region is expected to expand at a CAGR of ~5% during the forecast period.
- The dominance of Europe is anticipated to further increase in the near future, owing to the presence of a large number of market players and extensive research & development activities being conducted in the region.
- Germany is anticipated to be a major market for torque limiters in Europe in the next few years, owing to the strong presence of industries, especially food & beverages and packaging & labelling, in the country.
Global Torque Limiter Market: Competition Landscape
- With the objective of attracting more customers, several players operating in the global torque limiter market are expanding their product portfolios in a variety of torque ranges. They are further strategizing to offer customized products as per the requirements of various end-use industries.
- Some of the prominent players operating in the global torque limiter market are Chr. Mayr GmbH + Co. KG, KTR Systems GmbH, R+W Antriebselemente GmbH, Nexen Group, Inc., Howdon Power Transmission Ltd, Altra Industrial Motion Corp., Tsubakimoto Chain Co., RINGSPANN GmbH, Cross & Morse Ltd, and Industrial Clutch Parts Ltd.