Market Overview:
The global torque calibration services market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for torque calibration services from process industries and discrete industries. Additionally, the growing demand for precision torque measurement is also contributing to the growth of this market. North America dominates the global torque calibration services market, followed by Europe and Asia Pacific.
Product Definition:
Torque calibration services are used to ensure that torque wrenches are accurately calibrated and providing the correct torque readings. This is important for ensuring that bolts and other fasteners are properly tightened, as incorrect torque can lead to failure of the component or damage to the assembly. Torque calibration services help to ensure accuracy and consistency in tightness levels, which helps keep assemblies safe and secure.
New Installation Services:
New Installation Services, also known as NIS or sometimes called re-installation services is a service provided by torque measurement system manufacturers to newly installed customers. It includes complete set up of equipment from scratch including all necessary cables and connections. Torque measurement systems are used in several industries such as automotive, industrial machinery and power tools among others for the purpose of quality control and performance evaluation.
After-sales Services:
After-sales Services are the services provided to the vehicle owners after the sale of a vehicle. It includes maintenance and repair services, parts replacement, and diagnostics. The After-Sale Services play an important role in Torque Calibration Service (TCS) market as it helps in maintaining accurate torque specifications of fasteners used during assembly processes.
Application Insights:
The process industries segment led the global torque calibration services market in 2017 and is expected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for high precision torque wrenches from various industrial applications including oil & gas, chemical, petrochemical, power generation and metal & mining sectors.
In terms of revenue, the discrete industries segment dominated the global torque calibration services market in 2017 with a share of 23.1%. Torque measurement tools are used for several purposes such as product testing & inspection procedures during manufacturing stages or even after-sales service repair operations on products that have been sold worldwide. Moreover, these tools are also used during assembly operations where tight tolerances need to be maintained or where accuracy matters a lot when it comes to measuring small fractions of rotational speed or angular velocity related parameters about products being manufactured using complex machinery components etc.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period. The growth can be attributed to increasing demand for high precision torque measurement in various applications including aerospace, automotive, industrial machinery and others. Asia Pacific was followed by North America and Europe in terms of revenue generation in 2017 owing to growing awareness about benefits of using accurate torque measurement devices among customers.
The market for global Torque Calibration Services is highly fragmented on account of presence of a large number of players operating across different segments such as industrial, consumer electronics and automobile sectors. Some prominent players include measuring instruments specialists AIMA Group; Nidec Corporation; Yokogawa Corporation; Torrance Engineering Co., Ltd.; Vickers Instruments BV; SGS Thomson Geotech Limited.; HANSCO GmbH & Co., KG; Ingersoll-Rand Plc.; Anritsu Corporation (USA) Inc.; National Instruments (NI) Incorporated; Agilent Technologies Inc.
Growth Factors:
- Increasing demand for torque calibration services from the automotive and aerospace industries due to the stringent quality control measures.
- Growing popularity of torque calibration services among Original Equipment Manufacturers (OEMs) to ensure product reliability and compliance with international standards.
- Proliferation of portable torque measurement devices that has led to an increase in the number of torque calibration jobs being outsourced to service providers.
- Rising awareness about the benefits of using calibrated torque tools among industrialists, which is driving them towards outsourcing these services instead of investing in expensive equipment and training personnel themselves.
Scope Of The Report
Report Attributes
Report Details
Report Title
Torque Calibration Services Market Research Report
By Type
New Installation Services, After-sales Services
By Application
Process Industries, Discrete Industries
By Companies
Endress+Hauser, Exova, Fortive, General Electric, Siemens, Transcat, Tektronix, Team Torque, Norbar
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
139
Number of Tables & Figures
98
Customization Available
Yes, the report can be customized as per your need.
Global Torque Calibration Services Market Report Segments:
The global Torque Calibration Services market is segmented on the basis of:
Types
New Installation Services, After-sales Services
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
Process Industries, Discrete Industries
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:
- Endress+Hauser
- Exova
- Fortive
- General Electric
- Siemens
- Transcat
- Tektronix
- Team Torque
- Norbar
Highlights of The Torque Calibration Services 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:
- New Installation Services
- After-sales Services
- By Application:
- Process Industries
- Discrete Industries
- 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 Torque Calibration Services 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?
Torque calibration services are a type of precision engineering service that helps ensure the accuracy of rotating machinery. This can include everything from measuring the rotational speed and torque of a machine to ensuring that it is operating within its specifications.
Some of the major companies in the torque calibration services market are Endress+Hauser, Exova, Fortive, General Electric, Siemens, Transcat, Tektronix, Team Torque, Norbar.
The torque calibration services market is expected to register a CAGR of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Torque Calibration Services 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 Torque Calibration Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Torque Calibration Services 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 Torque Calibration Services 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 Torque Calibration Services Market Size & Forecast, 2018-2028
4.5.1 Torque Calibration Services Market Size and Y-o-Y Growth
4.5.2 Torque Calibration Services Market Absolute $ Opportunity
Chapter 5 Global Torque Calibration Services 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 Torque Calibration Services Market Size Forecast by Type
5.2.1 New Installation Services
5.2.2 After-sales Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Torque Calibration Services 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 Torque Calibration Services Market Size Forecast by Applications
6.2.1 Process Industries
6.2.2 Discrete Industries
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Torque Calibration Services 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 Torque Calibration Services 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 Torque Calibration Services Analysis and Forecast
9.1 Introduction
9.2 North America Torque Calibration Services 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 Torque Calibration Services Market Size Forecast by Type
9.6.1 New Installation Services
9.6.2 After-sales Services
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 Torque Calibration Services Market Size Forecast by Applications
9.10.1 Process Industries
9.10.2 Discrete Industries
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 Torque Calibration Services Analysis and Forecast
10.1 Introduction
10.2 Europe Torque Calibration Services 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 Torque Calibration Services Market Size Forecast by Type
10.6.1 New Installation Services
10.6.2 After-sales Services
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 Torque Calibration Services Market Size Forecast by Applications
10.10.1 Process Industries
10.10.2 Discrete Industries
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 Torque Calibration Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Torque Calibration Services 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 Torque Calibration Services Market Size Forecast by Type
11.6.1 New Installation Services
11.6.2 After-sales Services
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 Torque Calibration Services Market Size Forecast by Applications
11.10.1 Process Industries
11.10.2 Discrete Industries
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 Torque Calibration Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Torque Calibration Services 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 Torque Calibration Services Market Size Forecast by Type
12.6.1 New Installation Services
12.6.2 After-sales Services
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 Torque Calibration Services Market Size Forecast by Applications
12.10.1 Process Industries
12.10.2 Discrete Industries
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) Torque Calibration Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Torque Calibration Services 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) Torque Calibration Services Market Size Forecast by Type
13.6.1 New Installation Services
13.6.2 After-sales Services
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) Torque Calibration Services Market Size Forecast by Applications
13.10.1 Process Industries
13.10.2 Discrete Industries
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 Torque Calibration Services Market: Competitive Dashboard
14.2 Global Torque Calibration Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Endress+Hauser
14.3.2 Exova
14.3.3 Fortive
14.3.4 General Electric
14.3.5 Siemens
14.3.6 Transcat
14.3.7 Tektronix
14.3.8 Team Torque
14.3.9 Norbar
