Automotive Torque Tool Market: Introduction

  • Torque tool is used to apply torque to bolts or fasteners. Such tools are used in diverse industries including automotive, shipping and aerospace. The tools transmit an audible sound or click on exerting the set or desired torque.
  • Some torque tools are difficult to use in constricted places, where reading a gauge is not possible in automotive applications. This issue is overcome by the use of torque tools that provide audio and visual indication. The torque tool emits an audible beep or sound on application of the desired torque. Some torque tools have a clutch mechanism, which enables rotation of the tools even after the desired torque has been exerted or applied.

Key Drivers of Automotive Torque Tool Market

  • Beam type, clicking type, and dial indicator are the various types of torque tools. Every original equipment manufacturer and tier1 supplier aims to manufacture a product with high durability and quality. Electronic torque tools enable the user to digitally set or decide the torque to be applied. Click wrench has a clutch mechanism, which enables the user to rotate or tighten the tool even after the set or decided torque has been applied. Beam wrench has a lever arm, the lever arm has some level of elasticity, which allows the beam to bend marginally.
  • Every OEM and supplier is focused on enhancing production and improving productivity with good quality within a short time. Earlier, conventional nutrunners were used which were slow and required more time for tightening and fastening the nut or bolt. The handheld direct current (DC) torque tool is fast and requires less time to tighten and fasten the nut and bolt as compared to conventional nutrunners.

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Asia Pacific to be highly lucrative market for automotive torque tool

  • Asia Pacific holds a significant share of the global automotive market. Subsequently, a torque tool is extensively utilized in the automotive industry in order to maintain and service the vehicle. Torque tools are also used in automotive service centers to repair vehicles, which in turn is also estimated to boost the torque tool market. India and China has large number of garages, which in turn is projected to significantly propel the torque tool market.
  • Europe, North America, and Latin America dominating the torque tool market.as the demand for vehicles in these regions is significantly increasing and major breakdown of vehicles are witnessed in these regions. The construction industry in Asia Pacific is considerable large and the industry witnesses a significant demand for torque tools for construction activities. This, in turn, is estimated to propel the global torque tool market.

Key Players Operating in Automotive Torque Tool Market

The global automotive torque tool market is highly concentrated owing to the presence of several top manufacturers. A few key players operating in the torque tool market are:

  • Atlas Copco Ltd.
  • Stanley Black & DeckerDelta-T Devices Ltd
  • TONE Co. Ltd.
  • Torcstar Bolting Tools Ltd.
  • Torque Master Tools Pvt. Ltd.
  • Sensata Technologies, Inc.
  • Snap -On Inc.
  • Ingersoll Rand Inc.
  • Yokata Red Rooster BV
  • Werkzeugfabrik GMBH & Co.
  • Enerpac Co. Ltd

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Global Automotive Torque Tool Market: Research Scope

Global Automotive Torque Tool Market, by Tool Type

  • Torque wrenches
  • Torque screwdrivers
  • Torque multiplier
  • Nutrunner

Global Automotive Torque Tool Market, by Type

  • Corded
  • Cordless
  • Dial Indicator

Global Automotive Torque Tool Market, by Torque Setting

  • Adjustable torque
  • Preset torque

Global Automotive Torque Tool Market, by Operating Mechanism

  • Manual Operated
  • Electronic Operated
  • Pneumatic Operated
  • Hydraulic operated

Global Automotive Torque Tool Market, by Application

  • Engineering and Machine manufacturing
  • Automotive industry
  • Construction
  • Shipping and aerospace
  • Others

Global Automotive Torque Tool Market, by sales channel

  • OEM
  • Aftermarket

Global Automotive Torque Tool Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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