Market Overview:
The global torque wrench market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for torque wrenches in various applications such as automotive, engineering & construction, shipping & aerospace, and other applications. In terms of type, the manual torque wrench segment is expected to hold a major share of the global torque wrench market during the forecast period. However, the pneumatic torque wrench segment is projected to grow at a higher CAGR than other segments during the forecast period.
Product Definition:
A torque wrench is a tool used to apply rotational force to an object. It is usually used in engineering and automotive fields. The purpose of a torque wrench is to ensure that specific amounts of torque are applied to bolts and nuts, in order to avoid damage or failure.
Manual Torque Wrench:
Manual torque wrench is a hand-operated device used for measuring torque. Torque is the rotational force that can be applied by an engine, motor or any other source of power to some object. It’s generally measured in units of kgf/m and does not represent the strength or power of a machine but rather its ability to do work.
Pneumatic Torque Wrench:
Pneumatic torque wrench is a power tool that uses compressed air as a source of energy to accomplish high Torque ( turning force ) and speed. The pneumatic torque wrench can be used for fastening or unfastening bolts, screws, nuts and other such components. It has various advantages over conventional hand tools including high speed, accuracy and repeatability in terms of tightening or loosening the fasteners.
Application Insights:
The automotive application segment accounted for the largest revenue share of over 30% in 2017. The growing importance of torque wrenches in the automotive sector is attributed to their use for measuring and controlling fasteners on vehicles. Increasing production levels of electric and hybrid cars are expected to drive demand from this application segment over the forecast period.
Automotive applications include passenger cars, LCVs, trucks, buses, coaches and heavy-duty vehicles (HDV). These products are used for tightening nuts & bolts on these vehicles as well as other components such as engine block or gearbox assembly together with related Fasteners (Suspensions & Axles). Torque wrenches can be used with various types of Fastener such as hexagon socket cap screws, square nuts/bolts etc., which makes it easier to tighten or release a nut/bolt depending upon its size.
Regional Analysis:
Asia Pacific dominated the global market in 2017. This is attributed to increasing automotive production and sales, especially in China, India, and Japan. The region is expected to witness significant growth over the forecast period owing to rising infrastructure activities coupled with growing industrialization across emerging economies such as China and India.
The Asia Pacific region has a large number of construction sites due to growing urbanization across countries such as Indonesia, Malaysia, Philippines, Vietnam among others are anticipated boost product demand from engineering & construction application segment over the forecast period. In addition electronic torque wrench segment is also expected witness considerable growth due to their increased usage for fastening applications on various types of machines used for manufacturing parts or components on assembly lines at a factory rather than using manual methods which consume more time or require several attempts before successfully tightened bolts/ nuts etc.
Growth Factors:
- Increasing demand for torque wrench from the automotive industry as it helps in tightening and loosening bolts and nuts with precision.
- Growing popularity of torque wrenches among DIY enthusiasts and home-owners due to its versatility and ease-of-use.
- Rising demand for torque wrenches in the construction sector as it helps in tightening screws, bolts, nuts, etc., quickly and accurately.
- Technological advancements that have led to the development of new types of torque wrenches such as electronic torque wrenches that are more accurate than traditional ones.
Scope Of The Report
Report Attributes
Report Details
Report Title
Torque Wrench Market Research Report
By Type
Manual Torque Wrench, Pneumatic Torque Wrench, Electronic Torque Wrench
By Application
Automotive, Engineering & Construction, Shipping & Aerospace, Other
By Companies
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
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
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Torque Wrench Market Report Segments:
The global Torque Wrench market is segmented on the basis of:
Types
Manual Torque Wrench, Pneumatic Torque Wrench, Electronic Torque Wrench
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
Automotive, Engineering & Construction, Shipping & Aerospace, Other
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:
- 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
Highlights of The Torque Wrench 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:
- Manual Torque Wrench
- Pneumatic Torque Wrench
- Electronic Torque Wrench
- By Application:
- Automotive
- Engineering & Construction
- Shipping & Aerospace
- Other
- 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 Wrench 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 wrench is a tool used to tighten or loosen screws, bolts, and nuts. It has a handle with an adjustable head that can be rotated in either direction.
Some of the key players operating in the torque wrench market 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.
The torque wrench market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Torque Wrench Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Torque Wrench Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Torque Wrench Market - Supply Chain
4.5. Global Torque Wrench Market Forecast
4.5.1. Torque Wrench Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Torque Wrench Market Size (000 Units) and Y-o-Y Growth
4.5.3. Torque Wrench Market Absolute $ Opportunity
5. Global Torque Wrench Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Torque Wrench Market Size and Volume Forecast by Type
5.3.1. Manual Torque Wrench
5.3.2. Pneumatic Torque Wrench
5.3.3. Electronic Torque Wrench
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Torque Wrench Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Torque Wrench Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Engineering & Construction
6.3.3. Shipping & Aerospace
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Torque Wrench Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Torque Wrench Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Torque Wrench Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Torque Wrench Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Torque Wrench Demand Share Forecast, 2019-2029
9. North America Torque Wrench Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Torque Wrench Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Torque Wrench Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Engineering & Construction
9.4.3. Shipping & Aerospace
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Torque Wrench Market Size and Volume Forecast by Type
9.7.1. Manual Torque Wrench
9.7.2. Pneumatic Torque Wrench
9.7.3. Electronic Torque Wrench
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Torque Wrench Demand Share Forecast, 2019-2029
10. Latin America Torque Wrench Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Torque Wrench Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Torque Wrench Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Engineering & Construction
10.4.3. Shipping & Aerospace
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Torque Wrench Market Size and Volume Forecast by Type
10.7.1. Manual Torque Wrench
10.7.2. Pneumatic Torque Wrench
10.7.3. Electronic Torque Wrench
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Torque Wrench Demand Share Forecast, 2019-2029
11. Europe Torque Wrench Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Torque Wrench Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Torque Wrench Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Engineering & Construction
11.4.3. Shipping & Aerospace
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Torque Wrench Market Size and Volume Forecast by Type
11.7.1. Manual Torque Wrench
11.7.2. Pneumatic Torque Wrench
11.7.3. Electronic Torque Wrench
11.8. Basis Point Share (BPS) Analysi by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Torque Wrench Demand Share, 2019-2029
12. Asia Pacific Torque Wrench Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Torque Wrench Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Torque Wrench Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Engineering & Construction
12.4.3. Shipping & Aerospace
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Torque Wrench Market Size and Volume Forecast by Type
12.7.1. Manual Torque Wrench
12.7.2. Pneumatic Torque Wrench
12.7.3. Electronic Torque Wrench
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Torque Wrench Demand Share, 2019-2029
13. Middle East & Africa Torque Wrench Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Torque Wrench Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Torque Wrench Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Engineering & Construction
13.4.3. Shipping & Aerospace
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Torque Wrench Market Size and Volume Forecast by Type
13.7.1. Manual Torque Wrench
13.7.2. Pneumatic Torque Wrench
13.7.3. Electronic Torque Wrench
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Torque Wrench Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Torque Wrench Market: Market Share Analysis
14.2. Torque Wrench Distributors and Customers
14.3. Torque Wrench Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Snap-on (CDI)
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Norbar
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Proto
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. TONE
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Tohnichi
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Enerpac
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. TEKTON
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. FACOM
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. SATA Tools
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Armstrong
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Precision Instruments
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Craftsman
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Powermaster
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Hytorc
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Plarad
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Mountz
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. K-Tool
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Primo Tools
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Park Tool
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Jinan Hanpu
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
