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Automotive Torque Tools Market Report | Covid-19 Impact Analysis
The Automotive Torque Tools Market is Segmented by Tools Type (Torque Screwdrivers, Torque Wrench, Torque Multiplier, and Nutrunner), by Operating Mechanism Type (Manual, Pneumatic, Electronic, and Hydraulic), by Type (Corded, Cordless), by Torque Setting Type (Adjustable Torque Tool, Preset Torque To...
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Automotive Torque Tools Market is likely to witness an impressive CAGR of 5.2% during the forecast period. Growing automotive sales globally, increasing investments by the industry players in vehicle technologies, rising need for torque applications in vehicle engines to offer enhanced performance and efficiency, and emergence of electric & hybrid vehicles requiring customized torque wrench are some of the major factors driving the growth of the market during the forecast period.
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Automotive Torque Tools Market – Snapshot |
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Growth |
5.2% for the next five years |
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Major Tools Type |
Nutrunner |
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Dominant Operating Mechanism Type |
Electronic |
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Leading Type |
Corded |
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Major Torque Setting Type |
Adjustable Torque Tool |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
Atlas Copco AB, Norbar Torque Tools Ltd., Rad Torque Systems, Shingare Industries Pvt. Ltd., Stanley Black & Decker, Inc., Tekton, Tone Co., Ltd., Toptul, Torc Star Bolting Tools, and Torque Master Tools Pvt. Ltd. |
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Based on the tools type, the market is segmented as torque screwdrivers, torque wrench, torque multiplier, and nutrunner. Nutrunner is projected to register strong growth rate in the market during the forecast period owing to its capability of achieving torque capacity at an optimum speed. It offers high durability and does not require high maintenance, fueling the segment’s growth during the forecast period. On the other hand, torque wrench is estimated to account for a significant share of the market owing to its growing usage in tightening nuts and bolts during the forecast period.
Based on the operating mechanism type, the market is segmented as manual, pneumatic, electronic, and hydraulic. Electronic torque is estimated to witness high growth rate in the market on account of various advantages, such as easier handling abilities along with quick operations provided by these tools. Moreover, electronic tools requiring lower pressure coupled with installation of electronic chips to evaluate records is further expected to boost the overall market growth during the forecast period.
Based on the type, the market is segmented as corded and cordless. The corded type is projected to be the leading segment of the market owing to its capability of providing higher torque. It offers very precise control on the amount of torque to be applied to a bolt without any loss of capacity, and generates minimum vibration, offering quitter and safer work environment, boosting the segment’s growth during the forecast period. On the other hand, cordless type is also estimated to witness significant growth on account of increasing development of new products with compact size and enhanced power capacity.
Based on the torque setting type, the market is segmented as adjustable torque tool and preset torque. The adjustable torque tool is anticipated to witness significant growth rate in the market during the forecast period owing to its capability to provide greater torque and easier handling. Factors such as large tools requirement for service and maintenance of heavy vehicles coupled with control and consistency provided by these products, and frequent launch of adjustable tools by the industry players to expand their market presence is further expected to fuel the overall industry growth during the forecast period. On the other hand, preset torque tool is estimated to register substantial growth rate on account of minimized bolting time & cost and enhanced accuracy for critical joints during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the dominating region in the market owing to growing automotive production during the forecast period. Factors such as higher concentration of automotive manufacturers increasing the tools’ demand, and establishment of manufacturing plants in Japan, China, and India coupled with increasing preference for personal vehicles are further expected to fuel the regional market growth during the forecast period. Also, North America is expected to witness significant growth rate in the market owing to technological advancements in automotive parts & components over the forecast period.
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Some of the key players in the automotive torque tools market are-
Automotive torque tools are developed with the ability of tightly integrating and controlling all the key facets of the assembly automation process. In terms of automotive, torque is basically a measure of rotational effort applied on engine crankshaft by the piston.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Automotive Torque Tools Market Research Report - Features |
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Market Segmentation |
5 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The automotive torque tools market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The automotive torque tools market is expected to witness an impressive growth of 5.2% CAGR in the foreseeable future.
Atlas Copco AB, Norbar Torque Tools Ltd., Rad Torque Systems, Shingare Industries Pvt. Ltd., Stanley Black & Decker, Inc., Tekton, Tone Co., Ltd., Toptul, Torc Star Bolting Tools, and Torque Master Tools Pvt. Ltd are among the key players in the Automotive Torque Tools Market.
Asia-pacific is expected to remain the dominating region in the automotive torque tools market during the forecast period of 2021-2026.
Nutrunner is expected to register strong growth rate in the automotive torque tools market in the coming five years.
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