Market Overview:
The global automotive wrenches market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for passenger cars, light commercial vehicles, and heavy commercial vehicles across the globe. In addition, the growing trend of DIY (Do It Yourself) is also propelling the demand for automotive wrenches globally. The global automotive wrenches market can be segmented on the basis of type into open end wrench, box end wrench, combination wrench, pipe wrench and others. The open end wrench segment is expected to hold a major share in terms of revenue in 2018 and is projected to grow at a CAGR of 5% during the forecast period from 2018-2030. This growth can be attributed to its low cost as compared to other types of wrenches available in the market and its easy portability. On basis application ,the global automotive Wrench Market has been segregated into passenger cars, light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and others segments . Passenger car application segment dominates this industry with highest share owing increase in sales volume over last few years followed by HCV & LCV applications respectively .
Product Definition:
An automotive wrench is a type of wrench specifically designed for use on cars and other vehicles. These wrenches usually have a longer handle than standard wrenches, which allows the user to apply more torque to the bolt or nut being tightened. Many automotive wrenches also have a specially shaped head that allows them to fit into tight spaces. The importance of automotive wrenches lies in their ability to provide greater leverage and better access in difficult work areas than standard tools can.
Open End Wrench:
Open end wrench is a special type of adjustable wrenches with an open ended head that can be used for tight spaces where standard open end wrenches cannot be employed. Open-end wrenches are mainly used in automotive applications, but they are also utilized in several other industries including construction equipment, marine and power tools among others. The growth factor for the market is primarily driven by growing demand from the automotive sector which has been experiencing rapid expansion over recent years.
Box End Wrench:
Box end wrench is a special tool, which is used to turn the fasteners at one end and has a handlebar at the other. The box-end wrench has an advantage over conventional wrenches in that it allows more leverage for turning nuts or bolts. This makes it suitable for heavy-duty applications like automotive engines where regular wrenches just can’t do the job.
The global box end wrench market size was valued at USD 557 million in 2018.
Application Insights:
The passenger cars application segment led the global automotive wrenches market in 2017. The growth of this segment can be attributed to increasing demand for passenger vehicles in developing countries, such as India, China and Brazil. In addition, growing sales of passenger cars in developed countries like the U.S., Germany and France is also expected to contribute significantly towards industry growth over the forecast period.
The light commercial vehicle (LCV) segment is expected to witness significant growth over the forecast period owing to rising demand from emerging economies including India and China for LCVs with high payload capacity for logistics services across various industries including healthcare and food processing among others which require large trucks but with lower driver engagement costs than heavy-duty trucks due to smaller size of LCVs compared with HDs.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% of the overall revenue in 2017, which can be attributed to increasing automotive production and sales in emerging economies such as China, India, Thailand, Indonesia among others. Moreover, rising disposable income coupled with changing lifestyle will boost automobile demand further driving regional growth.
The European region is anticipated to witness significant growth over the forecast period owing to stringent regulations imposed by regulatory bodies such as EU5 (European Union), EEA (European Economic Area), SAE (Organization for Economic Co-operation and Development) regarding vehicle safety features including brakes/clutch pedal assembly maintenance requirements etc., fuel emissions standards etc., which has compelled manufacturers operating within Europe's borders or those that export their vehicles overseas to adhere strictlyto these standards. This factor along with growing consumer awareness regarding vehicle maintenance schedules will drive industry growth duringthe forecast period.
Growth Factors:
- Increasing demand for automobiles
- Growing automotive industry
- Rising income levels of consumers in developing countries
- Technological advancements in the automotive sector
- Growing popularity of DIY culture
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Wrenches Market Research Report
By Type
Open End Wrench, Box End Wrench, Combination Wrench, Pipe Wrench, Others
By Application
Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
By Companies
Tone Co., Ltd, Eastman, Stahlwille, Stanley, Klein Tools, Apex Tool Group, SPERO, Snap-on, Matco Tools, Canadian Tire, Viktec, Sir Tools
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
146
Number of Tables & Figures
103
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Wrenches Market Report Segments:
The global Automotive Wrenches market is segmented on the basis of:
Types
Open End Wrench, Box End Wrench, Combination Wrench, Pipe Wrench, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Tone Co., Ltd
- Eastman
- Stahlwille
- Stanley
- Klein Tools
- Apex Tool Group
- SPERO
- Snap-on
- Matco Tools
- Canadian Tire
- Viktec
- Sir Tools
Highlights of The Automotive Wrenches Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Open End Wrench
- Box End Wrench
- Combination Wrench
- Pipe Wrench
- Others
- By Application:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automotive Wrenches Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Automotive wrenches are a type of wrench used to tighten or loosen bolts and screws in automobiles. They come in different sizes and shapes, depending on the task at hand. Automotive wrenches are also known as car wrenches, automotive tools, or just wrenches.
Some of the key players operating in the automotive wrenches market are Tone Co., Ltd, Eastman, Stahlwille, Stanley, Klein Tools, Apex Tool Group, SPERO, Snap-on, Matco Tools, Canadian Tire, Viktec, Sir Tools.
The automotive wrenches market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Wrenches Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automotive Wrenches Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automotive Wrenches Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automotive Wrenches Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automotive Wrenches Market Size & Forecast, 2018-2028
4.5.1 Automotive Wrenches Market Size and Y-o-Y Growth
4.5.2 Automotive Wrenches Market Absolute $ Opportunity
Chapter 5 Global Automotive Wrenches Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Automotive Wrenches Market Size Forecast by Type
5.2.1 Open End Wrench
5.2.2 Box End Wrench
5.2.3 Combination Wrench
5.2.4 Pipe Wrench
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Automotive Wrenches Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Automotive Wrenches Market Size Forecast by Applications
6.2.1 Passenger Cars
6.2.2 Light Commercial Vehicles
6.2.3 Heavy Commercial Vehicles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Wrenches Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automotive Wrenches Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Automotive Wrenches Analysis and Forecast
9.1 Introduction
9.2 North America Automotive Wrenches Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Automotive Wrenches Market Size Forecast by Type
9.6.1 Open End Wrench
9.6.2 Box End Wrench
9.6.3 Combination Wrench
9.6.4 Pipe Wrench
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Automotive Wrenches Market Size Forecast by Applications
9.10.1 Passenger Cars
9.10.2 Light Commercial Vehicles
9.10.3 Heavy Commercial Vehicles
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Automotive Wrenches Analysis and Forecast
10.1 Introduction
10.2 Europe Automotive Wrenches Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Automotive Wrenches Market Size Forecast by Type
10.6.1 Open End Wrench
10.6.2 Box End Wrench
10.6.3 Combination Wrench
10.6.4 Pipe Wrench
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Automotive Wrenches Market Size Forecast by Applications
10.10.1 Passenger Cars
10.10.2 Light Commercial Vehicles
10.10.3 Heavy Commercial Vehicles
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Automotive Wrenches Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Automotive Wrenches Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Automotive Wrenches Market Size Forecast by Type
11.6.1 Open End Wrench
11.6.2 Box End Wrench
11.6.3 Combination Wrench
11.6.4 Pipe Wrench
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Automotive Wrenches Market Size Forecast by Applications
11.10.1 Passenger Cars
11.10.2 Light Commercial Vehicles
11.10.3 Heavy Commercial Vehicles
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Automotive Wrenches Analysis and Forecast
12.1 Introduction
12.2 Latin America Automotive Wrenches Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Automotive Wrenches Market Size Forecast by Type
12.6.1 Open End Wrench
12.6.2 Box End Wrench
12.6.3 Combination Wrench
12.6.4 Pipe Wrench
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Automotive Wrenches Market Size Forecast by Applications
12.10.1 Passenger Cars
12.10.2 Light Commercial Vehicles
12.10.3 Heavy Commercial Vehicles
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Automotive Wrenches Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Automotive Wrenches Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Automotive Wrenches Market Size Forecast by Type
13.6.1 Open End Wrench
13.6.2 Box End Wrench
13.6.3 Combination Wrench
13.6.4 Pipe Wrench
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Automotive Wrenches Market Size Forecast by Applications
13.10.1 Passenger Cars
13.10.2 Light Commercial Vehicles
13.10.3 Heavy Commercial Vehicles
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automotive Wrenches Market: Competitive Dashboard
14.2 Global Automotive Wrenches Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Tone Co., Ltd
14.3.2 Eastman
14.3.3 Stahlwille
14.3.4 Stanley
14.3.5 Klein Tools
14.3.6 Apex Tool Group
14.3.7 SPERO
14.3.8 Snap-on
14.3.9 Matco Tools
14.3.10 Canadian Tire
14.3.11 Viktec
14.3.12 Sir Tools
