Below are some of the key findings from the torque wrenches market research report
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Global torque wrenches industry overview
The growth of the automobile industry is one of the primary factors triggering the torque wrenches market growth. The automotive industry is the primary end-user of torque wrenches due to their extensive use in automotive production facilities. Torque wrenches are also used for repair and maintenance of vehicles in automobiles and shops. Additionally, the rising complexities of automobile design is leading to the demand for specialized tools and equipment for servicing the vehicles. This is further accelerating the need for torque wrenches.
Innovation in product designs and materials is one of the key torque wrenches market trends. Manufacturers are incorporating several innovations in the design of torque wrenches by modifying the materials used and improving their reliability and efficiency. These advancements have made torque wrenches more reliable and efficient in fastening applications. Moreover, these innovations have also created significant differentiation in the product offerings of the torque wrench market vendors, leading to market growth. The torque wrenches market forecast report predicts that fueled by these factors, the market will grow at a CAGR of almost 5% during the forecast period.
Top torque wrenches companies covered in this market research report
The torque wrenches market is highly fragmented. Market growth is accelerating, thus leading to many opportunities for vendors. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this torque wrenches industry analysis report is designed to aid clients to identify new growth opportunities and build new growth strategies.
The report offers a complete analysis of various companies including:
- Actuant
- Apex Tool Group
- Atlas Copco
- Snap-on
- Stanley Black & Decker
- TOHNICHI Mfg.
Torque wrenches market segmentation based on geographic regions
- Americas
- APAC
- EMEA
Global torque wrenches market analysis reveals that APAC will account for the largest torque wrenches market share and will also witness the highest incremental growth throughout the forecast period.
Torque wrenches market segmentation based on products
- Manual torque wrenches
- Powered torque wrenches
The manual torque wrenches will lead the torque wrenches market share during the forecast period. This segment will also account for the highest incremental growth. Additionally, the report will provide an accurate prediction of the contribution of the various products segments to the growth of the torque wrenches market size.
Key highlights of the global torque wrenches market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the torque wrenches market during the next five years
- Precise estimation of the global torque wrenches market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the torque wrenches industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of the torque wrenches companies
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