Torque Limiter Market Size, Share, Industry Trends, Growth & Report 2023-2030

Global Torque Limiter Market Projected to Reach USD 401 Million by 2030: Industry Growth at 5.0% CAGR

The global Torque Limiter Market, valued at USD 285.2 million in 2022, is poised for substantial growth, projected to reach USD 401 million by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 5.0% during the forecast period from 2023 to 2030.

Torque limiters, integral components in industrial machinery, play a crucial role in enhancing safety and preventing damage by limiting excessive torque transmission. In 2022, the packaging and labeling segment dominated the market, accounting for approximately 35% of the global Torque Limiter Market.

Scope and Summary Metrics:

CAGR: 5.0%
Size Available for Years: 2021-2030
Forecast Period: 2023-2030
Data Availability: Value (US$)
Segments Covered: Type, Range, End-User, and Region
Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Fastest Growing Region: Asia-Pacific
Largest Region: North America
Report Insights Include:
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter's Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights.

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Dynamics and Trends Driving Torque Limiter Market Growth:

1. The Increasing Industrial Automation and Focus on Work Safety

Torque limiters are witnessing heightened demand, attributed to the surge in industrial automation across manufacturing, automotive, and aerospace sectors. The market players, such as Honeywell International Inc., are introducing advanced automated storage and retrieval systems (AS/RS) that leverage artificial intelligence (AI) and machine learning (ML) to enhance efficiency. Torque limiters play a pivotal role in preventing excessive torque, ensuring machinery and equipment safety.

Worker safety remains paramount in industries utilizing machinery, making torque limiters indispensable for accident prevention caused by torque overload or unexpected breakdowns.

2. The Growing Industrial Sector and Advancement in Technology

Industries like automotive, manufacturing, construction, and mining are propelling the demand for torque limiters. These essential components ensure safety, protection, and efficiency in machinery and equipment, thereby increasing productivity and minimizing downtime. Technological advancements in torque limiter design, incorporating improved materials, sensors, and control systems, contribute to expanded applications and capabilities, fostering market growth.

3. High Costs and Limited Awareness

Despite their significance, torque limiters face challenges due to higher costs compared to other mechanical components. This may hinder widespread adoption, particularly among small and medium-sized businesses with limited budgets. Additionally, a lack of awareness and understanding among end-users regarding torque limiters' benefits and applications may slow market acceptance and growth.

Segment Analysis: High Accuracy of Balls & Rollers Type

During the forecast period, balls & rollers type torque limiters are anticipated to capture approximately 30% of the global market. This type offers a constant disengagement at a predetermined torque value, providing a more stable response compared to other variants. With the ability to transmit more torque, balls and rollers torque limiters find significant demand in operations such as food processing, packaging, and textile processing.

Geographical Share: The Growing Automotive Industry in Europe

Europe, accounting for around 1/3rd of the global torque limiter market in 2022, is witnessing increased demand driven by the automotive, industrial, and aerospace sectors. The need for reliable and safe machinery in automobiles is promoting the use of torque limiters in components such as the drivetrain, gearbox, and engine. Collaboration among major manufacturers like Daimler, Volkswagen, Fiat-Chrysler Research Centre, Volvo, Opel, and Toyota to develop fuel-efficient vehicles is expected to drive significant market growth in the region.

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Companies and Competitive Landscape:

The global Torque Limiter Market features a competitive landscape characterized by comprehensive Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter's Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and other key insights.

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