Press release
DC Torque Tool Market Size will Escalate Rapidly in the Near Future
Key factors driving the expansion of the n market are the increasing sales of passenger and commercial vehicles, increasing adoption of industry 4.0, and the rising requirement of specific torque as well as efficient and flexible tools for fastening. Moreover, the demand of brushless DC motors helps market to grow for cordless fastening tools. The advancement in battery technology and decreasing prices of Li-Ion batteries are fueling the demand for DC torque tools. The progress in batteries and rapid replacement of Ni-Cd batteries with Li-Ion batteries help cordless tools to holda larger division of the DC torque systems market. Moreover, the acceptable and fast-changing techniques fuel the expansion of the cordless segment.
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Depending on the application, sensor control tools provide precise and accurate torque control.. The current control tools, are not the same as sensor control tools. These tools provide a highly accurate fastening process. Therefore, owing to its various benefits, many manufacturers provide sensor control DC torque tool. Various factors such as variations in gear system, temperature, voltage, and motor performance do not influence the accuracy of the system. A subsidiary of Atlas Copco AB (Sweden), named Desoutter Industrial Tools, Estic Corporation (Japan), Stanley Black & Decker Inc. (U.S.), Robert Bosch GmbH (Germany), and Ingersoll Rand plc. (Ireland) have a substantial product portfolio of sensor control fastening tools.
DC torque tools are extensively used in the automotive industry at different stages. These tools are majorly employed by OEMs as well as in repair and service centers. In automotive industries, DC torque tools provide essential fastening solutions and precise torque, which is highly important for different projects that require precise measurements. Rising automotive production is expected to boost the DC torque tool market during the forecast period.
The DC torque tool market can be categorized based on type, power source, industry, and region. Based on type, the market is segmented into handheld tools and fixture tools. The handheld tools segment is further sub-segmented into electric screwdriver, electric nutrunner, electric impact wrench, electric torque wrench, and others. Furthermore, in terms of power source, the market is segmented into corded and cordless. Based on industry, the DC torque tool market can be segmented into industry, automotive, OEMs, electronics and consumer appliances, service and repair, aerospace, energy, shipbuilding, and others (construction, process, metalworking, agriculture, medical device, and railway).
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In terms of region, the DC torque tool market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The market in APAC is expected to expand at a rapid pace during the forecast period
According to the OICA, in 2016, the automotive production in APAC was higher than fifty percent of total automotive production. Moreover, China and India are the major countries in APAC that are rising in this sector. Hence, with the growing industry of consumer appliances, automotive, power and electronics, the need of DC torque tool market is also rising. The market in APAC is expanding rapidly, as several countries in the region are opting for this technology.
Key players operating in the global DC torque tool market are Apex Tool Group, Llc Atlas Copco Ab Estic Corporation, Gedore-Werkzeugfabrik Gmbh & Co. Kg, Hilti Corporation Hitachi Koki Co., Ltd., Ingersoll-Rand Plc, Makita Corporation Panasonic Corporation, Robert Bosch Gmbh, Stanley Black & Decker, Inc., Techtronic Industries Co. Ltd. (Tti) and Uryu Seisaku, Ltd.
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