Allied Market Research
Loading...
Cart
0
Allied Market Research

Torque tools (Gun/Wrench) Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A07898
Pages: NA
Nov 2020 | 32 Views
 
Author(s) : NA
Tables: NA
Charts: NA
 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Torque tools

Request Now !

Torque tools (Gun/Wrench) Market Outlook - 2027

Torque tools (Gun/Wrench) are the tools that are used to apply accurate amount of torque on a fastener such as nut or bolt, to prevent under or excess tightening. These tools serve great purposes where tightness of screws and bolts is critical. There are four types of torque tools available that are pneumatic torque wrenches, hydraulic torque wrenches, manual torque wrenches, and electronic wrenches. These type of tools allow the operator to accurately measure the torque applied on a fastener, such as nut or screw, in order to match to the conditions for a specific application. These tools hold major application in industries such as construction, automotive, aerospace, mining, manufacturing, and others. 

Market scope and structure analysis:

                    Report Metric

                                Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value ($Million)

  Segments covered

  Type, application, and region

  Geographies covered

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

 

Major players analyzed include Actuant Corporation, Atlas Copco, Apex Tool Group, Snap-on Incorporated, TOHNICHI Mfg. CO., LTD., Stanley Black & Decker, Inc., ENERPAC TOOL GROUP, HYTORC, Div. UNEX Corporation, K-Tool International (KTI), and FACOM Tools

 

 

COVID-19 Scenario analysis:

  • COVID-19 pandemic has shut-down the production of various products in the torque tools industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of torque tools market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Drivers, restraints, and opportunities

Notable growth in the end-use industries such as manufacturing, construction, and automotive in different countries is a major factor that is expected to drive the growth of the torque tools market in the upcoming years. Besides, increasing complex automobile designs can propel the demand for specialized tools and equipment to service the vehicles which is another key factor that can potentially fuel the growth of the torque tools market for the next few years. Moreover, growth in production of hybrid and electric vehicles can boost the demand for the torque tools in the market. However, need for skilled labor and high labor costs are the restraining factors that are hindering the market growth. On the contrary, key market players are focusing on advanced products with innovative designs and higher reliability and efficiency that is anticipated to provide lucrative growth opportunities for the torque tools market during the forecast period.

Trends in the torque tools market

Growing preference for electric vehicles

Stringent environmental regulations and initiatives by governments of many countries for environmental protection have resulted in increasing consumer preference for electric vehicles. Electric vehicle parts like electric motors, relays, solenoids, and more require torque tools for their assembly with the main frame which is a major factor that can raise the demand for the torque tools for manufacturing of electric vehicles. Moreover, the sales of light-duty plug-in electric vehicles have been multiplying every year in countries like China and the U.S. An annual sales report of light-duty plug-in electric vehicles shows that the annual sales of electric vehicles in China have jumped from 5,79,000 to 10,16,002 in 2018. The growth of electric vehicles at a fast pace is showing positive signs for the growth of the automotive industry in these countries that can eventually result in the positive growth of the torque tools (Gun/Wrench) market in the upcoming years. 

New product developments to flourish the market

Manufacturers in the torque tools market are constantly upgrading their products and coming up with advanced features to differentiate their products from others and sustain the heavy competition market. To cite an instance, Norbar Torque Tools, a UK-based company, launched its new electronic torque wrench in 2020. This product is designed to meet demands of industries for product traceability and quality control. This tool has the capability to measure, display, store, and transmit torque and angle target results and receive configuration settings from torque data system computer software via a wireless interface. Emergence of such advanced products into the market can create a significant positive impact on the growth of the torque tools (Gun/Wrench) market during the forecast period.

Key segments covered:

                  Segments

                        Sub-segments

  Product type

  1. Manual Torque Wrenches
  2. Electronic Torque Wrenches
  3. Pneumatic Torque Wrenches
  4. Hydraulic Torque Wrench

  Industry

  1. Automotive
  2. Engineering & Machinery Manufacturing
  3. Aerospace
  4. Construction
  5. Mining
  6. Others

 

Key benefits of the report:

  • This study represents the analytical representation of the global torque tools market combined with the ongoing trends and future predictions to determine investment opportunities.
  • The present market is thoroughly analyzed from 2019 to 2027 to enlighten the torque tools market growth.
  • The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global torque tools market.
  • Segmentation details of the global torque tools market.
  • The report gives a comprehensive global torque tools market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
PURCHASE OPTIONS

Start reading ,This title and over 12000 thousand more,available with Avenue Library, T&C*

PURCHASE OPTIONS

Start reading ,This title and over 12000 thousand more,available with Avenue Library, T&C*

Reach out to us

Call us on
( U.S. - Canada toll free )
+1-800-792-5285,   
Int'l : +1-503-894-6022
( Europe )
+ 44-845-528-1300
Drop us an email at
help@alliedmarketresearch.com

 
Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research Allied Market Research

Access from any device, anywhere

Clients can easily download both quantitative as well as
qualitative reports in PDF and excel formats.

 

HAVE QUESTIONS?
SPEAK WITH ANALYST

 

FREQUENTLY ASKED
QUESTIONS?

 

DID YOU MISS ANYTHING?
DO YOU HAVE SPECIFIC REQUIREMENTS?

 

REQUEST TOC/SAMPLE

OR

Purchase Full Report of
Torque tools

  • Online Only
  • $3,456  $3,110
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Data Pack
  • $3,840  $3,456
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Single User
  • $5,769  $5,192
  • Restricted to one authorized user
  • One print only
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Five Users
  • $6,450  $5,805
  • Limited to five authorized users
  • Print upto five copies
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Enterprise
    License/PDF

  • $8,995  $8,096
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Library Membership
  • $ 699/mo
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Start reading.
    This title and over 12,000+ are available on the Avenue Library. T&C*.

    Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 
 

Featured Reports

 

Featured Readings

 

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

 
Get Industry Data Alerts