The Global Tension Control Market is estimated to be USD 891.4 Million in 2017 and is projected to reach USD 1,118.8 Million by 2022, growing at a CAGR of 4.65%, from 2017 to 2022. The increasing demand for automated tension control and the rising transition toward flexible printing & packaging from rigid packaging are driving the tension control market globally.
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The Tension Control Market has been segmented, by type, into automated and manual. The manual segment is expected to be the largest because of high capital costs of automated systems and low labor costs in the Asia Pacific region in the packaging industry.
The tension control market has been segmented, by component, into load cell/force transducers, clutch, brake, controller, diameter sensor, dancer roller, and others. The others segment includes amplifiers, wiring, indicators, and retrofits. The load cell/force transducer segment is estimated to hold the largest share of the market during the forecast period. The growth in automated tension control in the paper processing and aluminum industry, combined with the increasing demand for flexible packaging machinery in the food & beverage sector in Asia Pacific is driving the demand for load cell/force transducer.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the Top Players In The Tension Control Market. These include Maxcess (US), Montalvo (US), Erhardt+Leimer (Germany), FMS (Switzerland), Double E (US), Nireco (Japan), and Re (Italy). The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.
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The Tension Control Market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Asia Pacific is expected to dominate the tension control market during the forecast period. The increase in the manufacturing and imports of printing & packaging machinery along with the transition toward flexible printing & packaging in the food & beverage and pharmaceutical sectors is the key factor driving the tension control market in the Asia Pacific region.
The major factor restraining the growth of the tension control market is the high initial cost required to set up and install tension control equipment, particularly automated tension control in the paper processing and flexible printing & packaging industries. The restraining factor is particularly prevalent in the Asia Pacific region, where small-scale packaging industry has a considerable share.