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Torque Wrench Market
Latest Research Report on Torque Wrench Market which includes segmentation, regional analysis.
PUNE, MAHARASHTRA, INDIA, August 1, 2023/EINPresswire.com/ — The Global “Torque Wrench Market” research report is a compilation of analysis and data gathered from various sources to assist businesses in understanding the state of the market by type of trends and by competitor Applications. Their insights assist them in drawing well-informed conclusions and developing successful growth strategies.
Torque Wrench Market report offers comprehensive data about the sector, making it simple for readers and users to access. It is a useful tool for companies of all sizes to develop their business strategies. The report uses a streamlined structure to communicate statistical data. Using qualitative and quantitative techniques, the Torque Wrench market provides a complete report of the industry's drivers and restraints.
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Market Analysis and Insights: Global Torque Wrench Market
A torque wrench is a tool used to precisely apply a specific torque to a fastener such as a nut or bolt. It is usually in the form of a socket wrench with special internal mechanisms.
A torque wrench is used where the tightness of screws and bolts is crucial. It allows the operator to measure the torque applied to the fastener so it can be matched to the specifications for a particular application. This permits proper tension and loading of all parts. A torque wrench measures torque as a proxy for bolt tension. The technique suffers from inaccuracy due to inconsistent or uncalibrated friction between the fastener and its mating hole. Measuring bolt tension (bolt stretch) is more accurate but often torque is the only practical means of measurement.
The global Torque Wrench market size was valued at USD 298.4 million in 2022 and is forecast to a readjusted size of USD 438.3 million by 2029 with a CAGR of 5.6 percentage during review period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global Torque Wrench key players include Snap-on (CDI), Norbar, Proto, TONE, Tohnichi, etc. Global five four manufacturers hold a share over 50 percentage.
North America is the largest market, with a share over 40 percentage, followed by Europe and Asia-Pacific, both have a share over 50 percentage.
In terms of product, Manual Torque Wrench is the largest segment, with a share over 75 percentage. And in terms of application, the largest application is Automotive, followed by Engineering and Construction, Shipping and Aerospace, etc
Market segmentation
Torque Wrench market is split by Type and by Application. For the period 2018-2029, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
The major players covered in the Torque Wrench market report are:
Snap-on (CDI)
Norbar
Proto
TONE
Tohnichi
Enerpac
TEKTON
FACOM
SATA Tools
Armstrong
Precision Instruments
Craftsman
Powermaster
Hytorc
Plarad
Mountz
K-Tool
Primo Tools
Park Tool
Jinan Hanpu
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Market segment by Type
Manual Torque Wrench
Pneumatic Torque Wrench
Electronic Torque Wrench
Market segment by Application
Automotive
Engineering and Construction
Shipping and Aerospace
Others
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Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Torque Wrench
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Torque Wrench market based on the following parameters – company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, COVID-19 and Russia-Ukraine War Influence.
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Key Questions Answered
How big is the global Torque Wrench market?
What is the demand of the global Torque Wrench market?
What is the year over year growth of the global Torque Wrench market?
What is the production and production value of the global Torque Wrench market?
Who are the key producers in the global Torque Wrench market?
What are the growth factors driving the market demand?
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Torque Wrench product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Torque Wrench, with price, sales, revenue and global market share of Torque Wrench from 2018 to 2023.
Chapter 3, the Torque Wrench competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Torque Wrench breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2018 to 2029.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2018 to 2029.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2022.and Torque Wrench market forecast, by regions, type and application, with sales and revenue, from 2024 to 2029.
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