Report overview
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.
This report aims to provide a comprehensive presentation of the global market for Torque Wrench, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Torque Wrench. This report contains market size and forecasts of Torque Wrench in global, including the following market information:
Global Torque Wrench Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global Torque Wrench Market Sales, 2018-2023, 2024-2029, (K Units)
Global top five Torque Wrench companies in 2022 (%)
The global Torque Wrench market was valued at US$ 298.4 million in 2022 and is projected to reach US$ 438.3 million by 2029, at a CAGR of 5.6% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
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.
We surveyed the Torque Wrench manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Torque Wrench Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Torque Wrench Market Segment Percentages, by Type, 2022 (%)
Manual Torque Wrench
Pneumatic Torque Wrench
Electronic Torque Wrench
Global Torque Wrench Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Torque Wrench Market Segment Percentages, by Application, 2022 (%)
Automotive
Engineering and Construction
Shipping and Aerospace
Others
Global Torque Wrench Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Torque Wrench Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Torque Wrench revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Torque Wrench revenues share in global market, 2022 (%)
Key companies Torque Wrench sales in global market, 2018-2023 (Estimated), (K Units)
Key companies Torque Wrench sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
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
Outline of Major Chapters:
Chapter 1: Introduces the definition of Torque Wrench, market overview.
Chapter 2: Global Torque Wrench market size in revenue and volume.
Chapter 3: Detailed analysis of Torque Wrench manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Torque Wrench in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Torque Wrench capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
