Automotive Torque Tool market size is estimated to be valued at US$ 780 MnPosted by Hannah Brown on June 21st, 2019 Key Trends and Factors Driving the Global Automotive Torque Tool Market Revenue
For more trends, click here: https://bekryl.com/industry-trends/automotive-torque-tool-market-share-analysis
Global Automotive Torque Tool Market Size and Forecast: Product Type Analysis Hydraulic automotive torque accounted for 61% of global sales in 2018. Based on the product type, the automotive torque is segmented into electronic and hydraulic. Hydraulic segment accounted for the highest share owing to comparatively lower prices. These hydraulic torque tools are easily available and can be found with many small scale end-use shops as well as consumers. Electronic torque tools is gaining prominence and is expected to surpass hydraulic based torque wrench by 2027. Better precision, light weight and easier maneuverability are the key factors driving the demand for electronic torque wrench worldwide. Global Automotive Torque Tool Market Size and Forecast: Regional Analysis North America Automotive Torque Tool market accounted for 37% of global sales in 2018 While Asia Pacific accounts for highest automotive sales worldwide, North America register itself as the market leader in torque tools sale globally. This is primarily attributed to higher consumer spending patter, consumer awareness, and better infrastructure facilities propelling the overall sales of torque wrench in the region. Increasing investment in industrial and automotive manufacturing sector will further propel the demand. Automakers are investing heavily to make region self-sufficient and reduce the overall vehicle cost. FCA US, General Motors and Ford announced nearly US$ 35 billion towards various automotive business value systems in United States. Such move is expected to further solidify the growth of allied industry in the region. Asia Pacific will surpass the North America torque tool market by 2022. Growth in the region will be propelled by manufacturing capability in China and higher investment in infrastructure. Presence of large number of car manufacturers in China, South Korea, Japan and India has created favorable ecosystem for allied industry sectors. Global Automotive Torque Tool Market Size and Forecast: Competition Landscape Some key Automotive Torque Tool market players are:
Industry Segmentation By Product Type:
By Handling Type:
For sample download, click here: What Will You Discover in the Report?
Who will benefit from the Report?
Analyst access with Bekryl Market Analysts Purchasing of Automotive Torque Tool market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions. Contact Mr. Alex Werner U.S Office (Sales and PR) 99 Wall Street, Suite 622, New York, U.S Contact: +1 347 752 5777 Email: sales@bekryl.com Like it? Share it!More by this author |