Digital Torque Wrench Market Size, Share, Growth Report 2032

The report encompasses the forecast as well as analysis of the digital torque wrench market on a global and regional level. The study displays historical data of 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million). Additionally, the market growth drivers, opportunities, limitations, and trends are also included in the digital torque wrench market report. 

We have included industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the Digital Torque Wrench market in our study.

Key Insights from Primary Research

• As per our primary respondents, the global digital torque wrenches is set to grow annually at a rate of around 4%
• It was established through primary research that the digital torque wrenches market was valued at around USD 1300 Million in 2019
• Asia Pacific leads the global digital torque wrenches market in 2019 and also predicted to grow with the highest CAGR.
• The ordinary digital torque wrench type segment accounted for the largest share and is predicted to continue its dominance with 60% in 2026.
• Based on application, automotive application segment accounted largest revenue share in 2019

Request Free Sample

Key Recommendations from Analysts

• As per our analysts, the global digital torque wrenches market is set to grow with a CAGR OF 4.6% form the years 2020 to 2026.
• Automotive and engineering & machinery manufacturing is expected to be a key driving factor for the global digital torque wrenches market in the analysis period.
• Our team of analysts has identified, connected computer digital torque wrench segment is expected to be the fastest-growing type segment for global digital torque wrenches market owing to as the connected computer digital torque wrench software plays a vital role in providing accurate results and inspection.
• In recent years, product offering through attractive feature and quality is expected to be the key business strategy for the market participants in the near future
• Snap -on Incorporation, Facom, Apex Tool Group, and Atlas Capco are some of the key players to watch in the analysis period.

Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies used by market competitors. It also encompasses PESTLE analysis and SWOT analysis of players.

The report also offers an in-depth analysis of the market share of each industry player and gives an outline of the market position of key players in the Digital Torque Wrench market. Moreover, the study offers wide coverage of key strategic improvements witnessed in the market such as acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, R&D activities, and geographical expansion of key players of the Digital Torque Wrench market.

The study provides a decisive view of the digital torque wrench market by segmenting the market based on type, application and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2020 to 2026. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The digital torque wrench is widely used in construction equipment across the world. A growing number of large and mini excavators, backhoe loaders, and various other heavy construction equipment especially developing countries such as China and India is driving the demand for the digital torque wrench products in the Asia Pacific region. In addition, growing demand for the digital torque wrenches in the road and concrete machinery such as rollers, asphalt pavers, and transit mixers used in the road development projects are expected to open alluring opportunities in the market in coming years.

Global Digital Torque Wrench Market: Segmentation

The global digital torque wrench market is segmented on the basis of type, and application. On the basis of type, the market is divided into two major types as an ordinary digital torque wrench and connected computer digital torque wrench. The ordinary digital torque wrenches are available in every size ranges from small to large. In addition, as this torque wrench offers more accurate results it is expected to observe more applications for the automobile industry in the coming years. The application segment of the global digital torque wrench market is bifurcated into automotive, construction, engineering & machinery manufacturing, shipping & aerospace, and others.

Global Digital Torque Wrench Market: Report Scope:

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

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

Key Pointers Addressed by the Report

• Historical data and forecast analysis of the market
• Drivers and Restraints affecting market dynamics
• Exhaustive analysis about the future market trends
• Comprehensive information about the leading market segments and regions
• Potential opportunities for the players in the market
• Business strategies by the major players operating in the global market
• Strategic developments made by the competitive players and in-depth analysis about its impact on market growth