About Hydraulic Wrench
A hydraulic wrench is a power tool intended to exert torque on a fastener to achieve proper tightening or releasing of a connection through the use of hydraulics. A wrench is applied to the nut either directly or in conjunction with an impact socket. Hydraulic wrenches apply a predetermined, controlled amount of torque to a properly lubricated fastener.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions across the globe to avail a competitive advantage through combined synergies Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Hydraulic Wrench market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Atlas Copco AB (Sweden), SPX Flow (United States), HTL Worldwide Ltd. (United Kingdom), Shinn Fu (Taiwan), Hi-Force (United Kingdom), Cembre Inc. (United States), ENERPAC (United States), Hydratight (Actuant) (United States), HYTORC (United States) and Primo (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are GEDORE Torque Solutions GmbH (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Hydraulic Wrench market by Type (Drive Hydraulic Torque Wrench and Hollow Hydraulic Torque Wrench), Application (Marine Engineering, Oil & Gas industry, Wind Power, Mining, Mechanical, Steel Mills and Others) and Region.
On the basis of geography, the market of Hydraulic Wrench has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online Distribution Channel will boost the Hydraulic Wrench market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Adoption in Automotive Industries and Increasing Demand Due To Online Distribution Channel
Market Growth Drivers:
Rapid Growth in Construction Industries and Growing Demand Due To Use in Various End-User Industries Such As Manufacturing and Oil & Gas
Challenges:
Maintaining consistent and accurate torque output can be difficult due to factors like pressure fluctuations and oil contamination.
Restraints:
High Cost Associated with Hydraulic Wrench
Opportunities:
Technological Innovation In Associated With Hydraulic Wrench and Huge Demand in Developing Countries Due To Growth in Construction Infrastructure
Market Leaders and their expansionary development strategies
In February 2023, Taurus Industrial Group has acquired of Bolttech Mannings, Inc. (“BMI”), a leading provider of technical bolting, heat treating, leak sealing, and non-destructive testing services to the North American power generation, downstream, and industrial markets. BMI’s service offerings, geographic footprint, and customer relationships are highly synergistic with those of Taurus and help increase its presence in key industry sectors.
In October 2020, Enerpac Launched HMT Series of Modular Hydraulic Torque Wrenches. The new series also offers durability. Enerpac HMT Torque Wrenches are the most durable wrench in its class, with up to a 2.5X longer life expectancy than leading tools on the market.
Key Target Audience
Manufactures, Suppliers and Distributors, Industry Associations, Private and Government Research Associations, Government Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.