Global Digital Torque Tester Market Overview:
A digital torque tester is a device specially designed to determine the torque and torsion in a shaft. It is used to measure the output signal from the transducer and calculates that reading into a torque value displayed on the screen. It is used in industrial, automotive, aircraft, and electronics applications.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Advancement in New Technologies across the Globe and Rising Digitalization over the Globe
Market Growth Drivers:
Increasing Applications of Digital Torque Tester in Various Industries and Rising Demand from Automobile Sector
Challenges:
High Competition between Established Players
Restraints:
Volatile Raw Material Prices
Opportunities:
Rising Adoption Rate of Digital Torque Tester will create Opportunities for the Market Growth
Competitive Landscape:
Global Digital Torque Tester is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Products. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Sturtevant Richmont (United States), Mecmesin Limited (United Kingdom), Flexible Assembly (United States), Imada Inc. (United States), Labthink (China), BAHCO (France), SecurePak (United States), WB Tools (United Kingdom), Tecnogi (Italy), Jergens, Inc. (United States) and Intercomp (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Digital Torque Tester market by 2028. Considering Market by Display Type, the sub-segment i.e. LED will boost the Digital Torque Tester market. Considering Market by Material, the sub-segment i.e. Ferromagnetic will boost the Digital Torque Tester market.
Latest Market Insights:
In August 2023, HBM, a leading provider of measurement technology, acquired S.A.T. Prüftechnik GmbH, a specialist in torque measurement and testing solutions. This acquisition strengthens HBM's position in the digital torque tester market and expands its product portfolio.
In November 2023, Mark-10, a renowned manufacturer of torque measurement instruments, launched a new series of wireless torque transducers. These transducers offer improved portability and flexibility for torque testing in various applications.
What Can be Explored with the Digital Torque Tester Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Digital Torque Tester Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Digital Torque Tester
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Digital Torque Tester market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Digital Torque Tester market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Digital Torque Tester Manufactures, Digital Torque Tester Suppliers and Distributors, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.