The Global Torque Screwdriver Market size is projected to grow at a CAGR of 5.2% during the forecast period, 2021-2028. The growth in this market has been majorly driven by factors such as an increase in demand for industrial equipment and machinery, rising need for automation and modernization, increasing awareness about safety standards related to manual labor, etc. The increasing use of electric torque screws due to their easy operations is expected to drive the demand for electric torques over coming years while on other hand; manual torques are anticipated to be used more extensively in industries with low or no power supply availability like construction.
The Torque Screwdriver is a type of screwdriver that has an adjustable mechanism, for tightening screws with ease. It is a type of tool that has two handles, one for the pistol grip and an additional longer handle. It helps to tighten or loosen screws by using torque force turning them clockwise or counterclockwise direction respectively with a specific amount of pressure applied on it. The main purpose of the torque screwdrivers is to tighten up fasteners and connectors without causing damage to them.
On the basis of Type, the market is segmented into Electric Torque Screwdriver and Manual Torque Screwdriver. Electric Torque Screwdrivers are anticipated to be used extensively in industries with high levels of power availability like automotive, engineering & construction and machinery manufacturing whereas Manual Torques are predicted to be more widely used in various industries such as Automotive, Engineering& Construction, Machinery Manufacturing Shipping&Aviation, and Other sectors because they require no external source for providing the pressure required for tightening screws by hand.
Electric Torque Screwdrivers are also known as torque wrenches. They use electricity to convert the rotation of a motor into rotating pressure on an adjustable head with high precision and accuracy. This type of screwdriver has various types, such as hand-held electric tools for automotive maintenance or mechanic jobs, power toolsets like drill/screwdriver kits that have different kinds of attachments depending on what one is looking for in their kit, cordless drills which can be used anywhere without having to worry about cords getting tangled up or requiring extra effort from the user while moving around the house (e.g., installing shelves).
Some models include other features besides just being able to tighten screws correctly; they may come with bits that help make holes by turning on the screwdriver like a drill, or with interchangeable heads to provide different levels of torque for screws that are not the same size.
A Manual Torque Screwdriver is a versatile tool with interchangeable bits. These are used for applying torque to screws and fixing them in place, but they can also be used as an Allen key for hexagonal bolts or sockets. This type of screwdriver has a long handle that allows the user to apply force across their body when turning it (known as 'body turn').
The manual torque screwdrivers use various types of handles: pistol grip style, straight-handle style, barrel grip style, etc., depending on the task at hand. The head may have two jaws that tighten around the shafts of different-sized fasteners such as slotted, Phillips, hexagonal, etc., and the jaws are moved together to apply torque.
On the basis of Application, the market is segmented into Automotive, Engineering and Construction, Machinery Manufacturing, Shipping & Aerospace, and others. In terms of application type, the industrial sector accounted for over half of the total market share owing to its extensive usage in factories across different sectors like automotive, engineering and construction machinery manufacturers; shipping and aerospace industries, etc., while the domestic segment is expected to be the fastest-growing segment during the forecast period from 2021-2028. Increasing demand by households for smart appliances will also drive growth for torque screwdrivers in this regional application type.
Torque screwdrivers are used to tighten nuts and bolts in automobiles. It is mostly used on the wheels of cars where it secures wheel studs with nut or fasteners while tightening them by turning a torque wrench head using its handle. This prevents loosening of these parts which can lead to accidents during driving. Torque screws have also been found useful for assembling plastic parts as they prevent the shaft from slipping off when tightened down properly
Torque screwdrivers are used by engineers and construction workers to tighten screws, bolts, or fasteners in vehicles, machinery manufactured products, buildings, and other structures. A torque screwdriver is also used for assembling various components of these machines like metal brackets (to hold pieces together when riveting), panels, and casings that make up the outer cover of a device. The torque setting on the torque screwdriver indicates how much pressure should be applied to tighten a bolt securely without breaking it.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market has been increasing at a significant pace in developing regions such as the APAC region due to changing lifestyles towards more automation and precision manufacturing. Asia-Pacific is witnessing significant installations by manufacturers due to rising investments from developing countries like China and India, coupled with increasing wages across different industries supporting this factor too. Latin America is expected to witness moderate growth rates over the forecast period mainly driven by Brazil's automotive sector exports that are projected to reach $250 billion by 2050.
The North American market is expected to lead the market, while Asia Pacific is projected to grow at a high CAGR. The North American region has been one of the first regions where electric torque screwdrivers were introduced and hence accrued more demand for these products; in addition, it also houses major manufacturing companies such as Bosch Group and Makita Corporation which have contributed significantly towards its growth. The European region holds around 45% market share owing to their stringent regulations on safety standards.
Up Market Research published a new report titled “Torque Screwdrivers Market research report which is segmented by Types (Electric Torque Screwdriver, Manual Torque Screwdriver), By Applications (Automotive, Engineering & Construction, Machinery Manufacturing, Shipping & Aerospace, Other), By Players/Companies TTI, Hilti, Kawasaki, CDI Torque Products, Klein Tools, Capri Tools, Wiha, Powerbuilt, Wera, Tohnichi, Schneider Electric, Mountz, Matatakitoyo, Gedore Torque, Norbar, Ingersoll Rand”.
|Report Attributes||Report Details|
|Report Title||Torque Screwdrivers Market Research Report|
|By Type||Electric Torque Screwdriver, Manual Torque Screwdriver|
|By Application||Automotive, Engineering & Construction, Machinery Manufacturing, Shipping & Aerospace, Other|
|By Companies||TTI, Hilti, Kawasaki, CDI Torque Products, Klein Tools, Capri Tools, Wiha, Powerbuilt, Wera, Tohnichi, Schneider Electric, Mountz, Matatakitoyo, Gedore Torque, Norbar, Ingersoll Rand|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||242|
|Number of Tables & Figures||170|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Electric Torque Screwdriver, Manual Torque Screwdriver and By Application Automotive, Engineering & Construction, Machinery Manufacturing, Shipping & Aerospace, Other.
Some of the companies that are profiled in this report are:
Torque Screwdrivers Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Torque Screwdrivers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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