Torque Wrenches market is expected to grow in the future due to growth in the industrialization and availability of advancement in the torque wrenches. A torque wrench is a tool used to apply a specific torque to a fastener such as a nut or a bolt. It is usually in the form of a socket wrench with special internal mechanisms. Growth in the demand for electric vehicles in the emerging economy will boosting the demand for the torque wrench market.
Highlights from Torque Wrenches Market Study
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The key Manufacturers profiled in the report are Apex Tool Group Singapore Pte Ltd (Singapore), Craftsman (United States), Enerpac (United States), FACOM (France), HYTORC DIV UNEX Corporation (United States), K-Tool International (United States), Maschinenfabrik Wagner GmbH & Co. KG (Germany), Mountz Incorporated (United States), NORBAR TORQUE TOOLS LTD (United Kingdom), Milwaukee Electric Tool (United States) and Jergens Inc. (United States). Additionally, other players that are part of this comprehensive study are Park Tool (United States), Powermaster Engineers Pvt. Ltd. (India), Precision Instruments (United States), Tekton, Inc. (United States) and Tohnichi America Corporation (United States).
Geographic Breakdown and Segment Analysis
The Global Torque Wrenches market presents a comprehensive analysis of the Torque Wrenches market by product type (Hydraulic Torque Wrenches, Pneumatic Torque Wrenches, Manual Torque Wrenches and Electric Torque Wrenches), by end-user/application (Commercial and Household), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Torque Wrenches industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the holds majority of market share of the Torque Wrenches market
Analyst at AMA have segmented the market study of Global Torque Wrenches market by Type, Application and Region.
Influencing Trend:Upsurging Innovation in the Designing of Torque Wrenches to Increase the Efficiency and Reliability and Availability of Cordless Torque Wrench
Market Growth Drivers:Growth in various industries such as the automotive industry, construction industry, manufacturing industry, etc. is driving the torque wrenches market. Along with this, manufacturers are involved in innovation in the product which is attracting the buyers in huge amounts.
Challenges:Fluctuation in the Price of Raw Material
Restraints:Availability of Advance Technology
Opportunities:Growth in the Demand for Electric Vehicles in Emerging Economy and Rising Infrastructure Development Activities in Developing Countries
Market Developments Activities:In June 2018, ASG, Division of Jergens, Inc. is proud to announce their strategic partnership with GEDORE, formerly TORQUELEADER, integrating GEDORE’s brand name line of industrial torque tools into the ASG product line.
In Aug 2020, Lowell Corporation has introduced a new torque wrench kit that gives plumbers and utility workers greater flexibility in working with US-style No-HUB couplings., , In Dec 2019, SATA Tools introduced four professional-grade torque wrenches as part of its arrival into the United States mechanic's hand tool market., and In Sept 2019, Milwaukee Tool announced the first motorized torque wrenches, delivering increased productivity, precise torque accuracy, and advanced reporting functionality. T
The global torque wrenches market is highly fragmented and key players are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies.
Key Target AudienceTorque Wrenches Manufacturers, Torque Wrenches Suppliers, Raw Material Suppliers, Potential Investors and End-User Industry