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.
LPI (LP Information)' newest research report, the “Torque Wrench Industry Forecast” looks at past sales and reviews total world Torque Wrench sales in 2022, providing a comprehensive analysis by region and market sector of projected Torque Wrench sales for 2023 through 2029. With Torque Wrench sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Torque Wrench industry.
This Insight Report provides a comprehensive analysis of the global Torque Wrench lands cape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Torque Wrench portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Torque Wrench market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Torque Wrench and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electronic Grade Phosphoric Acid.
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The global Torque Wrench market size is projected to grow from US$ 283.7 million in 2022 to US$ 430 million in 2029; it is expected to grow at a CAGR of 430 from 2023 to 2029.
Global Torque Wrench key players include Snap-on (CDI), Norbar, Proto, TONE, Tohnichi, etc. Global five four manufacturers hold a share over 50%.
North America is the largest market, with a share over 40%, followed by Europe and Asia-Pacific, both have a share over 50%.
In terms of product, Manual Torque Wrench is the largest segment, with a share over 75%. And in terms of application, the largest application is Automotive, followed by Engineering and Construction, Shipping and Aerospace, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of Torque Wrench market by product type, application, key manufacturers and key regions and countries.
Top Manufactures in Global Torque Wrench Includes:
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
Market Segment by Type, covers:
Manual Torque Wrench
Pneumatic Torque Wrench
Electronic Torque Wrench
Market Segment by Applications, can be divided into:
Automotive
Engineering and Construction
Shipping and Aerospace
Others
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
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