Global DC Torque Tool Market
The Global DC Torque Tool Market was valued at USD 2.93 billion in 2016 and is projected to reach USD 3.84 billion by 2025, growing at a CAGR of 3.06% from 2017 to 2025.
DC torque tools are developed with the capabilities to tightly integrate and control all the key facets of the assembly automation process. DC torque tools are widely used in the automotive industry at various stages. These tools are used by OEMs as well as in the service and repair centers. These tools allow for easy integration into an existing assembly line and flexibility for rapid reconfiguration when implementing new manufacturing projects. The benefits of DC torque tools include – error proofing, reduction of production cycle, provides a consistent and repeatable process control, fast torque data analysis, low cost, and easy maintenance and repair.
1. Market Drivers
1.1 Growing importance of smart tools
1.2 Increasing adoption in the wind energy industry
1.3 Increasing sales of commercial vehicles
1.4 Rising need of specific torque and flexible and efficient fastening tools
1.5 Growing adoption of electric fastening tools
2. Market Restraints
2.1 Strict global trade regulations and high cost
2.2 Issues with keeping track of electric fastening tools
2.3 Usage of fastening tools in harsh environments
The Global DC Torque Tool Market is segmented on the power source, type, vertical, and region.
1. Power Source:
2. By Type:
2.1 Fixtured Tool
2.2 Handheld Tools
2.2.1 Electric Torque Wrench
2.2.2 Electric Impact Wrench
2.2.3 Electric Nutrunner
2.2.4 Electric Screwdriver
3. By Vertical:
3.2.1 Service and Repair
3.3 Electronics and Consumer Appliances
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Makita Corporation
2. Atlas Copco AB
3. Hilti Corporation
4. Apex Tool Group, LLC
5. Ingersoll-Rand Plc
6. Uryu Seisaku, Ltd
7. Gedore-Werkzeugfabrik GmbH & Co. KG
8. Robert Bosch GmbH
9. Techtronic Industries Co. Ltd. (TTi)
10. Stanley Black & Decker, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global DC Torque Tool Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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