Torque Tools (Gun/Wrench): Introduction

  • Torque wrench is a tool used to accurately apply an appropriate torque to a fastener such as a bolt or nut, to prevent excess or under-tightening. Torque tools is used where the tightness of bolts and screws is critical.
  • These type of tools allow the machinist to measure the torque applied to the fastener, such as screw or nut, so that it can be matched to the conditions for a particular application.
  • In 1918, Conrad Bahr invented the torque wrench to prevent excessive tightening of bolts while repairing the steam or water pipe.
  • There are four types of torque tools (gun/wrench): manual torque wrenches, pneumatic torque wrenches, electronic torque wrenches, and hydraulic torque wrench
  • The global torque tools (gun/wrench) market is estimated to expand at a rapid pace during the forecast period, owing to an increase in the demand for torque tools (gun/wrench) in different industries such as automotive and construction. Torque tools are extensively utilized during the maintenance and repair of vehicles and in automobile production activities.
torque tools gun wrench market

To understand how our report can bring difference to your business strategy, Ask for a brochure

Global Torque Tools (Gun/Wrench) Market: Dynamics

Global Torque Tools (Gun/Wrench) Market: Key Drivers and Restraints

  • Expansion of automotive, manufacturing, and construction industries is anticipated to propel the torque tools (gun/wrench) market during the forecast period. This is primarily owing to its application in these industries.
  • Furthermore, rising product innovation, such as manufacturers incorporating numerous innovations in the design of torque tools and improving their efficiency and reliability, is anticipated to fuel the torque tools (gun/wrench) market across the globe
  • Increase in production of electric and hybrid vehicles is projected to offer an opportunity to the manufacturers torque tool (gun/wrench) globally
  • Increase in complexities of automobile design is estimated to propel the demand for specialized equipment and tools to service the vehicles. This in turn is anticipated to boost the demand for torque tool (gun/wrench) market in the near future.
  • Torque tools (gun/wrench) are mechanical devices and skilled labor is required to use or operate them. This increases the labor cost, thereby hampering the demand for torque tools (gun/wrench). However, volatility in raw material prices is also a major factor that is anticipated to hamper the market.

Torque Tools (Gun/Wrench) Market in Asia Pacific to Expand Rapidly

  • Asia Pacific is expected to witness significantly high demand for torque tools (gun/wrench) from 2019 to 2027. This is primarily due to the demand from automotive and manufacturing industries in leading production countries such as China, India, and Japan. Additionally, expansion of the automotive industry in Asia Pacific is expected to propel the demand for torque tools (gun/wrench) in order to boost the quality of production of industrial parts and automotive parts during the forecast period.
  • Europe held a prominent share of the global torque tools (gun/wrench) market. This is largely due to rising export and import and adoption of advanced technology in the region. Additionally, Europe is a hub for the automotive industry, owing to the presence of top manufacturers with high production capacities, such as BMW, Volvo, and Audi, in the region.

Global Torque Tools (Gun/Wrench) Market: Competition Landscape

Key Players Operating in Global Torque Tools (Gun/Wrench) Market

Numerous regional and international players operate in the torque tools (gun/wrench) market. Hence, the market is fairly fragmented, and the bargaining power of suppliers is low. The degree of competition among market players is also high. Torque tools (gun/wrench) manufacturers are adopting two vital strategies ? new product development and acquisition ? to cater to the needs of different end-users. Key players operating in the global torque tools (gun/wrench) market are:

  • Actuant Corporation
  • Apex Tool Group
  • Atlas Copco
  • Snap-on Incorporated
  • Stanley Black & Decker, Inc.
  • TOHNICHI Mfg. CO., LTD.
  • ENERPAC TOOL GROUP
  • FACOM Tool
  • HYTORC, Div. UNEX Corporation
  • K-Tool International (KTI)
  • Maschinenfabrik Wagner GmbH & Co. KG
  • Mountz, Inc.
  • Norbar Torque Tools Ltd.
  • Park Tool Company
  • Powermaster Engineers Pvt. Ltd.
  • Tone Co., Ltd.
torque tools gun wrench market 01

Stuck in a neck-to-neck competition with other brands? Request a custom report

Global Torque Tools (Gun/Wrench) Market: Research Scope

Global Torque Tools (Gun/Wrench) Market Segmentation, by Product Type

  • Manual Torque Wrenches
  • Pneumatic Torque Wrenches
  • Electronic Torque Wrenches
  • Hydraulic Torque Wrench

Global Torque Tools (Gun/Wrench) Market Segmentation, by Industry

  • Automotive
  • Construction
  • Aerospace
  • Mining
  • Engineering & Machinery Manufacturing
  • Others

Global Torque Tools (Gun/Wrench) Market Segmentation, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America
torque tools gun wrench market 02

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold 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.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Torque Tools Gun Wrench Market

Pre Book