Global Digital Torque Wrench Market Revenue Projected Around USD 1,808.8 Million By 2026

Facts and Factors has authored “Digital Torque Wrench Market by Type (Ordinary Digital Torque Wrench and Connected Computer Digital Torque Wrench), and by Application (Automotive, Engineering & Machinery Manufacturing, Construction, Shipping & Aerospace and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019—2026”. Based on our analysis, the global demand for the digital torque wrench market in 2019 is approximately USD 1,324.0 Million and is anticipated to reach around USD 1,808.8 Million by 2026. The anticipated CAGR for the digital torque wrench market is around 4.56% from 2020 to 2026.

A torque wrench is an instrument used to apply a particular torque for tightening nuts and bolts. A digital torque wrench is a tool that provides an electronic display of the torque reading. The digital torque wrench display visual signals in the form of light and sound when the desired torque is reached. The alarm value can be set between 10% - 100% of the wrenches capacity. One of the primary advantages of the digital torque wrench is it can more accurately control the amount of torque which is applied to the bolt without losing torque capacity. Additionally, the operator can fix the desired torque and the wrench will automatically shut off when the programmed value will reach. In addition, these torques are beneficial in terms of noise, as they are very noiseless and have less impact on the hearing of operators.

This review is based on a report by Zion Market Research, titled “Digital Torque Wrench Market by Type (Ordinary Digital Torque Wrench and Connected Computer Digital Torque Wrench), and by Application (Automotive, Engineering & Machinery Manufacturing, Construction, Shipping & Aerospace and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019—2026” report at https://www.zionmarketresearch.com/report/digital-torque-wrench-market-by-type-ordinary-digital

The growth of the global digital torque wrench market is mainly attributed to increasing demand for the quality inspection, positioning, and measurement of the tools. Moreover, growing product innovation, paired with increasing demand from the automotive industry is expected to flourish the growth of the global digital torque wrench market in the near future. However, rapidly changing technology is expected to have an adverse impact on the global digital torque wrench market in the analysis period. Nonetheless, Asia Pacific is the world largest producer of industrial machinery including turbines, boilers, heavy machines, metals, and others which is expected to open new market opportunities for the digital torque wrench players in the region in years to come.

On the basis of type, we have segmented the digital torque wrench market into ordinary digital torque wrench and connected digital torque wrench. Connected computer digital torque wrench is expected to fastest-growing type segment in the analysis period. Furthermore, automotive, construction, engineering & machinery manufacturing, shipping & aerospace, and others are the application segment covered under this research study. The automotive industry is the key end-user of digital torque wrenches owing to their widespread use in automotive manufacturing facilities. The rising growth of the automobile industry is one of the major factors boosting the digital torque wrenches market growth. In addition, digital torque wrenches are also manufactured for repair and maintenance of the vehicles in automobiles and shops.

By region, the global digital torque wrench market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe is expected to witness significant growth in the coming years, owing to the growing production of heavy-duty vehicles along with high demand for testing and inspection of the vehicles in the countries such as the UK, Germany, and France. In addition, the Asia Pacific is expected to open new alluring opportunities for the digital torque wrench vendors in the near future, owing to the rising production of the lightweight vehicles and growing construction and infrastructure projects in the countries such as China, India and Southeast Asia.

Some of the major players analyzed and profiled in the market study are Snap-on Incorporated, Gedore Torque Ltd. (Torqueleader), Tohnichi America Corporation, Apex Tool Group,  Crane Electronics Limited, SCS Concept, Atlas Copco, Eastwood, Desoutter, BMS Ireland, ACDelco Tools, Hilmor, Asmith Hardware, Brown Line Metalworks, Stahlwille, Hoffmann, Precision Instruments, ATD Tools Inc., Facom (Stanley Black & Decker) and Aimco amongst others.

This report segments the digital torque wrench market as follows:

Global Digital Torque Wrench Market: Type Segment Analysis

• Ordinary Digital Torque Wrench
• Connected Computer Digital Torque Wrench

Global Digital Torque Wrench Market: Application Segment Analysis

• Automotive
• Engineering & Machinery Manufacturing
• Construction
• Shipping & Aerospace
• Others

Global Digital Torque Wrench Market: Region Segment Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• The Middle-East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle-East Africa

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