May 10, 2018   SOURCE: BusinessWire

Global Torque Wrenches Market Report 2018-2022: Growing Automotive Industry / Product Innovations / Volatile Raw Material Prices - ResearchAndMarkets.com

The "Global Torque Wrenches Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.

The global torque wrenches market is estimated to grow at a CAGR of 4.69% during the period 2018-2022.

Global Torque Wrenches Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is product innovations. Over the years, the global torque wrenches market has witnessed several innovations in the design of torque wrenches and the material used for manufacturing them, making them more reliable and efficient in fastening applications. These innovations allow greater differentiation between product offerings from different vendors, leading to the growth of the market.

According to the report, one of the major drivers for this market is growing automotive industry. The automotive industry is the single largest end-user of torque wrenches globally, which are extensively used in automobile production facilities, and for repair and maintenance of vehicles in workshops and home. Therefore, the growth in global automobile production and sales during the forecast period is expected to significantly accelerate the demand for wrenches.

Further, the report states that one of the major factors hindering the growth of this market is volatility in raw material prices and rising labor costs. The volatility in prices of raw materials used in the construction of torque wrenches and the increase in manufacturing labor costs represent a significant challenge for torque wrench manufacturers and are expected to affect their earnings during the forecast period.

Key Vendors

  • Actuant
  • Apex Tool Group
  • Atlas Copco
  • Snap-on
  • Stanley Black & Decker
  • Tohnichi MFG

Key Topics Covered

1. Executive Summary

2. Scope of the Report

3. Research Methodology

4. Market Landscape

5. Market Sizing

6. Five Forces Analysis

7. Market Segmentation by Product

8. Customer Landscape

9. Market Segmentation by End-User

10. Regional Landscape

11. Decision Framework

12. Drivers and Challenges

13. Market Trends

14. Vendor Landscape

15. Vendor Analysis

For more information about this report visit https://www.researchandmarkets.com/research/kk9p2h/global_torque?w=4