Torquing Tools Market is expected to be 35% during the forecast period and the market size is expected to reach nearly US$ 44.13 Bn by 2027.
Torquing Tools Market Overview:
For the global industry’s Torquing Tools market analysis, a research team did thorough primary and secondary research. Secondary research was carried out to enhance the existing data, segment the market, estimate overall market size, predict the market size, and growth rate.
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Several methods for determining market value and market growth rate have been developed. Maximize research crew gathered market information and data from a variety of sources to present a more accurate regional view. The country-level analysis of the study is based on an examination of numerous regional stakeholders, regional tax laws and policies, consumer behavior, and macroeconomic data.
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The automotive segment is expected to contribute 3.10% share in the global torquing tools market during the forecast period. With the rise in complexities in vehicle engines, automotive torque tools are widely requiring enhanced performance and efficiency. The automotive industry is one of the largest end-use industries for torquing tools. The global automotive vehicle production is expected to reach US$ 968.6 Mn with an 3.10% rate of CAGR that will increase the adoption of the torquing tools. An increase in the adoption rate of electric vehicles, stringent standards established by regulatory bodies such as the International Organization for Standardization for assembling tools for nuts and screws are expected to drive the global torquing tools market growth during the forecast period.
• Clover Tool Company
• Forum Energy Technologies
• Actuant Corporation
• Apex Tool Group
• FACOM Tool
• Mountz, Inc.
• HytoricDivUnex Corporation
• Offshore Bolting LLC
• K-Tool International
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A country-level study of the Torquing Tools Market focuses on segments identified as potentially high-growth, countries with the biggest market share, and nations with the greatest development potential. North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Other nations are the geographical breakdowns in the Torquing Tools Market study.
COVID-19 Impact Analysis on Torquing Tools Market:
The study investigates macroeconomic data, market trends, underlying variables, and market attractiveness by segment. COVID-19 (Corona Virus) has an influence on the product industry chain, encompassing upstream and downstream markets, regions, and nations, as well as the future growth of the industry.
Key Questions Answered in the Torquing Tools Market Report are:
Which are the major players in the Torquing Tools market?
What key trends are likely to emerge in the Torquing Tools market in the coming years?
What will be the Torquing Tools market size by 2027?
Which company held the largest share in the Torquing Tools market?
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