Global Torquing Tools Market

[Aarti Ghodke]

 

Global Torquing Tools Market was valued at US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of XX % during the forecast period.

 

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

Global Torquing Tools MarketGlobal Torquing Tools Market Dynamics:

 

Torquing Tools are used to control and apply a specific torque to a fastener like a nut, bolt, and screw. An increase in the demand for automotive vehicles is encouraging industry key players to invest in-vehicle technologies and equipment to enhance the production output and operational efficiency. International standards for precise torque adjustment to enhance operational efficiency are increasing market growth. The torque tool has wide acceptance in the automotive industry that is expected to drive global market growth.

 

Also, the rapid expansion of the manufacturing, construction, shipping, and aerospace industries are expected to boost the demand for the torquing tools during the forecast period. On the other hand, fluctuations in raw material prices and required labor costs for the operation process of the mechanical devices are expected to limit the global torquing tools market growth.

 

The development of electric & hybrid vehicles is expected to need a customized torque wrench that is expected to offer key opportunities for the global torquing tools market key players.

Global Torquing Tools Market, Segment Analysis:

 

Torque Wrench is expected to grow at XX% of CAGR during the forecast period. It is widely used for the repair and maintenance of vehicles in the automobile sector. An increase in automotive vehicles is expected to drive the torque wrench demand. A torque wrench is used for a specific application, where the tightness of bolts and screws is extremely essential. It allows the operator to measure the torque, which is applied to the fastener tools that will help to balance the specifications of a specific application.

 

The automotive segment is expected to contribute XX% share in the global torquing tools market during the forecast period. With the rise in complexities in vehicle engines, automotive torque tools are widely requiring enhanced performance and efficiency. The automotive industry is one of the largest end-use industries for torquing tools. The global automotive vehicle production is expected to reach US$ XX Mn Units with an XX% rate of CAGR that will increase the adoption of the torquing tools. An increase in the adoption rate of electric vehicles, stringent standards established by regulatory bodies such as the International Organization for Standardization for assembling tools for nuts and screws are expected to drive the global torquing tools market growth during the forecast period.

Global Torquing Tools Market Regional Analysis:

 

The Asia Pacific held the XX% market share in 2019 and is projected to continue its dominance during the forecast period. The region is an automotive hub. An increase in vehicle sales, the presence of prominent key players like Toyota, Honda, and Suzuki, and expansion of the end-user industries in the developing economies like China and India are driving the regional torquing tools market growth.

 

Global Torquing Tools Market Competitive Analysis:

 

Some of the prominent manufacturers are introducing innovations in the design and material of torque tools, which will increases efficiency and reliability. Also, the development of new battery-powered wrenches by key players is expected to increase the power to weight ratio along with an automatic shutoff facility. The report covers the detailed competitive analysis of each market's key players.

 

The objective of the report is to present a comprehensive analysis of the Global Torquing Tools Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

 

The report also helps in understanding Global Torquing Tools Market dynamics, structure by analyzing the market segments and projects the Global Torquing Tools Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Torquing Tools Market make the report investor’s guide.

Global Torquing Tools Market Scope:

 

Global Torquing Tools Market, By Product Type

 

• Torque Screwdrivers
• Torque Wrench
• Torque Multiplier
• Nutrunner
• Others

Global Torquing Tools Market, By Operating Mechanism

 

• Manual
• Pneumatic
• Electronic
• Hydraulic

Global Torquing Tools Market, By End-Use Industry

 

• Automotive
• Engineering and Machinery Manufacturing
• Construction
• Shipping and Aerospace
• Other

Global Torquing Tools Market, By Region

 

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Global Torquing Tools Market Key Players:

 

• Clover Tool Company
• Forum Energy Technologies
• Actuant Corporation
• Apex Tool Group
• FACOM Tool
• Mountz, Inc.
• HytoricDivUnex Corporation
• Offshore Bolting LLC
• K-Tool International
• Powermaster Engineers Pvt. Ltd.
• TJ Tools
• ITH Bolting Technology
• Atlas Copco
• Underwater Engineering Services Ltd.
• Others

For More Information Vist : https://www.maximizemarketresearch.com/market-report/torquing-tools...

Report Is Submitted By : Maximize Market Research Company 

 

                                       

 

 

               

 

 

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