Market Overview:
The global battery torque wrench market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for battery torque wrenches in transportation, manufacturing & assembly, and construction applications. Additionally, the growing demand for electric vehicles is also contributing to the growth of this market. North America is expected to lead the global battery torque wrench market during the forecast period followed by Europe and Asia Pacific.
Product Definition:
A battery torque wrench is a hand-held tool used to apply a specific amount of torque to a fastener. It is powered by batteries, which gives it the ability to generate more torque than traditional hand tools. This makes it ideal for tightening large or stubborn fasteners.
Single Speed:
Single speed wrenches are used in torque measurement applications. Torque is a rotational force and its measurement provides an indication of the working capacity of an engine or motor. Single speed wrenches are mainly used for battery-powered devices such as drills, saws, compressors and pumps where the power source can be adjusted by changing the speed of operation using a variable transmission system.
Dual Speed:
The dual speed battery torque wrench is a type of electronic torque measurement tool that allows the user to measure both high and low levels of torque. The device has two different speed settings, which can be switched between using a control on the handle. The first setting is usually referred to as “high” or “fast” and the second one is called “low” or "slow".
Application Insights:
The transportation application segment led the global battery torque wrench market in 2017 and is projected to expand at a CAGR of XX% from 2018 to 2030. The growth can be attributed to the growing demand for electric vehicles across various regions, including North America and Europe. In addition, increasing government initiatives towards promoting electric vehicles are expected to drive the demand for these tools in automotive applications.
Manufacturing & assembly is another prominent application segment where battery torque wrenches are used for tightening nuts on bolts or screws that have irregular shaped heads or that require high torque values. These types of wrenches can also be used as general purpose tools where higher accuracy and precision is not required but rather maximum force should be applied without over-torqueing any components leading to possible damage of equipment being tightened with such a tool.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030 owing to increasing demand for electric vehicles and growing industrialization in the region. In addition, rising construction activities are also likely to drive product demand in APAC over the forecast period.
The North American market was valued at USD X million in 2017 and is projected to witness significant growth over the forecast period on account of rapid urbanization, technological advancements, and high adoption rate of new technologies across various industries within this region. The U.S., being one of the major automotive manufacturing hubs globally has led to an increase in torque wrenches usage there as well as across other applications where multiple fastening points are used simultaneously such as aerospace & defense industry or oil & gas industry within this region’s economy (USD X million).
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 14% during the forecast period. This will lead to an increase in the demand for battery torque wrenches as they are used extensively in the assembly and servicing of electric vehicles.
- Growing construction industry: The global construction industry is projected to grow at a CAGR of more than 5% during the forecast period. This will lead to an increase in the demand for battery torque wrenches as they are used extensively in construction applications.
- Rising industrialization and urbanization: The trend of industrialization and urbanization is gaining momentum across the world, which is leading to an increase in investments in various industries, including automotive, aerospace & defense, and manufacturing sectors. This will create opportunities for growth of the battery torque wrench market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Battery Torque Wrenches Market Research Report
By Type
Single Speed, Dual Speed
By Application
Transportation, Manufacturing & Assembly, Construction, Others
By Companies
RAD Torque Systems, Torque Gun, ITH, HYTORC, Alkitronic, GEDORE Torque Solutions GmbH, RAD Torque Systems
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
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Battery Torque Wrenches Market Report Segments:
The global Battery Torque Wrenches market is segmented on the basis of:
Types
Single Speed, Dual Speed
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
Transportation, Manufacturing & Assembly, Construction, Others
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:
- RAD Torque Systems
- Torque Gun
- ITH
- HYTORC
- Alkitronic
- GEDORE Torque Solutions GmbH
- RAD Torque Systems
Highlights of The Battery Torque 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:
- Single Speed
- Dual Speed
- By Application:
- Transportation
- Manufacturing & Assembly
- Construction
- Others
- 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 Battery Torque 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Battery torque wrenches are tools that allow you to apply a specific amount of torque to a battery. This is helpful when you need to replace or tighten the screws on the battery.
Some of the major players in the battery torque wrenches market are RAD Torque Systems, Torque Gun, ITH, HYTORC, Alkitronic, GEDORE Torque Solutions GmbH, RAD Torque Systems.
The battery torque wrenches market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Battery Torque 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 Battery Torque Wrenches Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Battery Torque 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 Battery Torque 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 Battery Torque Wrenches Market Size & Forecast, 2020-2028
4.5.1 Battery Torque Wrenches Market Size and Y-o-Y Growth
4.5.2 Battery Torque Wrenches Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Single Speed
5.2.2 Dual Speed
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Transportation
6.2.2 Manufacturing & Assembly
6.2.3 Construction
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Battery Torque 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 Battery Torque 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Single Speed
9.6.2 Dual Speed
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 Market Size Forecast by Applications
9.10.1 Transportation
9.10.2 Manufacturing & Assembly
9.10.3 Construction
9.10.4 Others
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Single Speed
10.6.2 Dual Speed
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 Market Size Forecast by Applications
10.10.1 Transportation
10.10.2 Manufacturing & Assembly
10.10.3 Construction
10.10.4 Others
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Single Speed
11.6.2 Dual Speed
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 Market Size Forecast by Applications
11.10.1 Transportation
11.10.2 Manufacturing & Assembly
11.10.3 Construction
11.10.4 Others
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Single Speed
12.6.2 Dual Speed
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 Market Size Forecast by Applications
12.10.1 Transportation
12.10.2 Manufacturing & Assembly
12.10.3 Construction
12.10.4 Others
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Single Speed
13.6.2 Dual Speed
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) Market Size Forecast by Applications
13.10.1 Transportation
13.10.2 Manufacturing & Assembly
13.10.3 Construction
13.10.4 Others
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 Battery Torque Wrenches Market: Competitive Dashboard
14.2 Global Battery Torque Wrenches Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 RAD Torque Systems
14.3.2 Torque Gun
14.3.3 ITH
14.3.4 HYTORC
14.3.5 Alkitronic
14.3.6 GEDORE Torque Solutions GmbH
14.3.7 RAD Torque Systems
