DC Torque Tool Market Overview:
The increase in sales of cars and trucks, the increasing adoption of Industry 4.0, the growing demand for specific torque and the development of efficient and flexible fastening tools are the main factors behind market expansion. In addition, the demand for brushless DC motors is contributing to the growth of the wireless connection tools market. The advancement of battery technology and the lower prices of lithium-ion batteries are driving the demand for continuous torque tools. Advances in batteries and the rapid replacement of Ni-Cd batteries with Li-Ion batteries allow wireless tools to maintain a greater market division for DC couple systems. In addition, acceptable and rapidly evolving technologies drive the expansion of the wireless segment.
What is the Size of DC Torque Tool Market?
The DC torque tool market was valued at USD 2.73 billion in 2016 and is expected to reach USD 3.36 billion in 2023, with a CAGR of 3.15% between 2017 and 2023.
The DC torsion tools are widely used in the automotive industry in different stages. These tools are used mainly by original equipment manufacturers, as well as repair and service centers. In the automotive industry, DC torque tools provide essential clamping solutions and precise torque, which is very important for different projects that require accurate measurements. It is expected that the increase in automotive production will stimulate the market for DC torque tools throughout the forecast period.
Regional Insights of DC Torque Tool Market:
Western Europe dominates the market due to the growing awareness of technological advances in the tightening of nuts in the aerospace and automotive industries. North America is also expected to dominate the global market for these tools due to the strong penetration of torque tools in the automotive, construction and aerospace industries, among others. China and India are forecast to post substantial growth during the forecast period due to strong growth in the automotive and aerospace sectors in the region.
Major Players Listed in this DC Torque Tool Market are:
- Furthermore
- FUTEK Advanced Sensor Technology, Inc. (US)
- Spectris plc (UK)
- MTS Systems Corporation (US)
DC torque tool Market Detailed Segmentation Analysis:
DC torque tool Market - By Type:
- Electric Nutrunner
- Electric Screwdriver
- Electric Torque Wrench
- Electric Impact Wrench
- Others
- Fixtured Tools
- Others
Handheld DC torque tool Market - By Power Source:
DC torque tool Market - By Industry:
OEMs
- Service and Repair
- Aerospace
- Electronics and Consumer Appliances
- Energy
- Shipbuilding
DC torque tool Market - By Regions:
North America
Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Summary:
DC torque tool is an important component of the automotive industry and the growing demand for automobiles around the world is the principal factor supplementing the growth of its market. Additionally, the use of this tool in aerospace industry and the demand from original equipment manufacturers are among the major reasons for the boom of this industry. Europe is the largest market for DC torque tools due to the strong presence of automotive companies.
** Our research team can customize this research report as per your needs/queries. Please write your thoughts to sales@researchcosmos.com
Table of Contents:
- Introduction
- Research Methodology
- Analysis Design
- Research Phases
- Secondary Research
- Primary Research
- Expert Validation
- Study Timeline
- Overview
- Executive Summary
- Key Inferences
- New Developments
- Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
- DC torque tool Market Drivers
- DC torque tool Market Restraints
- Key Challenges
- Current Opportunities in the DC torque tool Market
- DC torque tool Market Segmentation
- By Type:
- Handheld Tools
- Electric Nutrunner
- Electric Screwdriver
- Electric Torque Wrench
- Electric Impact Wrench
- Fixtured Tools
- By Power Source:
- Corded
- Cordless
- By Industry:
- Automotive
- OEMs
- Service and Repair
- Aerospace
- Electronics and Consumer Appliances
- Energy
- Shipbuilding
- Other Geographical Analysis
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Brazil
- South Africa
- Saudi Arabia
- Turkey
- United Arab Emirates
- Others
- Strategic Analysis
- PESTLE analysis
- Political
- Economic
- Social
- Technological
- Legal
- Environmental
- Porter’s five analysis
- Bargaining Power of Suppliers
- Bargaining Power of Consumers
- Threat of New Entrants
- Threat of Substitute Products and Services
- Competitive Rivalry within the Industry
- Supply Chain Analysis
- Raw Material Suppliers
- Manufacturers/Producers
- Distributors/Retailers/Wholesalers/E-Commerce
- End Users
- DC torque tool Market Leaders' Analysis
- Furthermore
- Product Analysis
- Strategic Evaluation and Operations
- Financial analysis
- Legal issues
- Recent Developments
- SWOT analysis
- Analyst View
- FUTEK Advanced Sensor Technology, Inc. (US)
- Spectris plc (UK)
- MTS Systems Corporation (US)
- Competitive Landscape
- DC torque tool Market share analysis
- Merger and Acquisition Analysis
- Agreements, collaborations and Joint Ventures
- New Product Launches
- Expert Opinions
- DC torque tool Market Outlook
- Investment Opportunities
- Appendix
- List of Tables
- List of Figures
+1 888 709 8757
Chat With Us