Global Torque Wrench Market Size, Share, Trends, Scope & Forecast 2024-2032

This report is the latest version of the“Torque Wrench Market Report” is an in-depth study and analyzes the country-specific and regional data from 2018 to 2023, with the further forecast of market trends from 2024 to 2032. This full report will display the size, share, price, and trend to provide an overall evaluation across segment application, end-use, and key regions.

The provision of product categories like types [Manual Torque Wrench, Pneumatic Torque Wrench, Electronic Torque Wrench] and application [Automotive, Engineering and Construction, Shipping and Aerospace, Others] to the quickly expanding sector is a significant trend in the worldwide Torque Wrench business.

Who is the largest manufacturers of Torque Wrench Market worldwide?

·  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

Short Description About Torque Wrench Market:

The Global Torque Wrench market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2032. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

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.

Market Analysis and Insights: Global Torque Wrench Market

Due to the COVID-19 pandemic, the global Torque Wrench market size is estimated to be worth USD 308.6 million in 2022 and is forecast to a readjusted size of USD 435.2 million by 2028 with a CAGR of 5.9Percent during the review period. Fully considering the economic change by this health crisis, Manual Torque Wrench accounting for Percent of the Torque Wrench global market in 2021, is projected to value USD million by 2028, growing at a revised Percent CAGR in the post-COVID-19 period. While Automotive segment is altered to an Percent CAGR throughout this forecast period.

Global Torque Wrench key players include Snap-on (CDI), Norbar, Proto, TONE, Tohnichi, etc. Global five four manufacturers hold a share over 50Percent.

North America is the largest market, with a share over 40Percent, followed by Europe and Asia-Pacific, both have a share over 50Percent.

In terms of product, Manual Torque Wrench is the largest segment, with a share over 75Percent. And in terms of application, the largest application is Automotive, followed by Engineering and Construction, Shipping and Aerospace, etc.

In terms of production side, this report researches the Torque Wrench capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.

What are the factors driving the growth of the Torque Wrench Market?

Growing demand for below applications around the world has had a direct impact on the growth of the Torque Wrench

·  Automotive

·  Engineering and Construction

·  Shipping and Aerospace

·  Others

What are the types of Torque Wrench available in the Market?

Based on Product Types the Market is categorized into Below types that held the largest Torque Wrench market share In 2024.

·  Manual Torque Wrench

·  Pneumatic Torque Wrench

·  Electronic Torque Wrench

Which regions are leading the Torque Wrench Market?

· North America (United States, Canada and Mexico)

· Europe (Germany, UK, France, Italy, Russia and Turkey etc.)

· Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)

· South America (Brazil, Argentina, Columbia etc.)

· Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)