Selbyville, Delaware, June 17, 2019 (GLOBE NEWSWIRE) --
The automotive torque tools market is predicted to hike from USD 870 million in 2018 to around USD 1200 million by 2025, according to a 2019 Global Market Insights, Inc. report. Rising automobiles production and complexities in advanced automobile assemblies will drive the market share over the study timeframe. Continuous upgradation of existing torque tools to enhance performance is escalating the product demand. The electric tools allow users to fasten critical joints rapidly, accurately and safely.
Development of tools to operate in adverse conditions will positively influence the automotive torque tools market growth. The development of battery powered products enable user to operate in areas devoid of electricity and compressed air.
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Increasing R&D investments and advancement in technology is anticipated to drive the automotive torque tools market size. The industry players are focused on merger and acquisition to strengthen their market presence.
The regulatory bodies including International Organization for Standardization (ISO) offers various guidelines regarding quality, design, measurements and calibration of tool for superior performance. The upgradation of standards to enhance recalibration of products will support the market growth over forecast timeframe.
Torque screwdrivers will witness steady growth in the automotive torque tools market size owing to multiple benefits offered including ergonomic hand grip design, higher accuracy and reliability tightening. The screwdriver provides micrometer adjustability with functioning in wide operating conditions. Moreover, the manufacturers are incorporating components to enhance accuracy and achieve the required torque.
The electronic torque tools segment is expected to witness significant growth owing to multiple benefits including faster and easier operations along with the smooth handling capabilities. The product is well suited for complex jobs that demand precision and traceability. Additionally, these tools feature an automatic mode, which helps to simplify and automate complex jobs.
Browse key industry insights spread across 250 pages with 385 market data tables & 11 figures & charts from the report, “Automotive Torque Tools Market Size By Tools (Torque Screwdrivers, Torque Wrench, Torque Multiplier, Nutrunner), By Operating Mechanism (Manual, Pneumatic, Electronic, Hydraulic), By Type (Corded, Cordless), By Torque Setting (Adjustable Torque Tool, Preset Torque Tool) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Brazil, Mexico, Argentina, Chile, Saudi Arabia, UAE, Iran, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-torque-tool-market
The cordless segment holds substantial share in the market size owing to high power and compactness. The industry participants are introducing lightweight products to strengthen the segment penetration.
The adjustable torque tool will witness significant growth owing to changeable torque setting options coupled with higher productivity. The tools are ideal for field service and production applications as it provides manufacturers with superior flexibility. Further, the convenience of different torque setting choices in various applications will drive the automotive torque tools market size over the study timeframe.
The key industry players operating in the automotive torque tools market include Norbar, Torcstar, Tone Co., Ltd, Atlas Copco AB, Tekton, Rad Torque Systems, and Enerpac. The other notable participants include Power master Engineers Pvt. Ltd, GEDORE Werkzeugfabrik GMBH & Co. KG, Ingersoll Rand PLC, Torque Master Tools Private LTD, and Yokota & Red Rooster. Product launch are among key strategy adopted by participants to enhance their market revenue.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.