by The torque limiter market is a multi-billion-dollar industry dominated by a few major players globally. Torque limiters are mechanical devices used in power transmission systems to protect motors, gearboxes, and machinery from overloading or shock loading during start-up or machine jamming. They prevent the transfer of torque above a specified value. Their application reduces equipment damage and downtime, improving overall productivity. Advantages like easy installation and cost-effectiveness have increased the demand from industries like oil & gas, energy & power, and automotive manufacturing.
The global torque limiter market is estimated to be valued at US$ 4.70 billion 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., Howdon, TSUBAKIMOTO CHAIN CO., Cross+Morse, Industrial Clutch Parts Ltd., ComInTec S.r.l., Mayr GmbH + Co. KG, R+W Antriebselemente GmbH, and RINGSPANN GmbH.
The Torque Limiter Market Size also provides opportunities for players to improve product quality and expand operations to emerging economies. Technological advancements aim to enhance overload protection, reduce downtime, minimize installation times, and enable real-time torque monitoring.
Market Drivers
Increased use of automated machinery in various industries has amplified the risk of equipment damage due to overloading. Torque limiters effectively prevent failures caused by shock loads during starting/stopping or mechanical jams. Growing industrial automation coupled with the need to maximize uptime is a key factor driving the torque limiter market. Other drivers include rapid urbanization, rising investments to modernize infrastructure, and the strong performance of end-use sectors like construction, mining, oil & gas, and automotive manufacturing.
Current challenges in the torque limiter market
The torque limiter market faces challenges related to high maintenance costs associated with these products. Torque limiters require periodic replacement of components like springs or clutches to maintain accurate torque control. This maintenance interrupts production workflows for machine operators. The COVID-19 pandemic also disrupted supply chains and depressed demand across several end-use industries for torque limiters like machinery, automotive, and metals & mining. raw material procurement and price volatility poses challenges due to inflationary trends and geopolitical issues.
SWOT Analysis
Strength: Torque limiters provide safety benefits by preventing over-torquing that can damage machinery. This protects both equipment and workers.
Weakness: High maintenance and replacement costs erode the cost savings over time. Frequent component replacements disrupt production.
Opportunity: Growth of automation across sectors increases demand for torque limiters to safely interface between machines. Adoption of condition monitoring can optimize maintenance.
Threats: Economic slowdowns negatively impact replacement spending cycles. Raw material shortages and inflation pose risks.
North America has the largest share in the torque limiter market due to demand from industrial sectors and an established automotive industry. The Asia Pacific region is expected to be the fastest growing market during the forecast period due to growth in machinery manufacturing and a burgeoning automotive sector in China, India and Southeast Asia.
Europe is another major geographical region concentrated for the torque limiter market. Germany has a strong presence of machinery OEMs demanding torque limiters. Increased automation across sectors supports regional market growth.
The torque limiter market in Latin America is projected to grow at a steady rate due to expanding manufacturing industries. Brazil represents major opportunities owing to foreign investments and a focus on industry 4.0 technologies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
