Global Automotive Torque Tools Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Tools;

Torque Screwdrivers, Torque Wrench, Torque Multiplier, and Nutrunner.

By Operating Mechanism;

Manual, Pneumatic, Electronic, and Hydraulic.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn694250479 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Torque Tools Market (USD Million), 2020 - 2030

In the year 2023, the Global Automotive Torque Tools Market was valued at USD 804.54 million. The size of this market is expected to increase to USD 989.49 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 3.0%.

The global automotive torque tools market is a vital component of the automotive industry, providing essential equipment for precise tightening and measurement of fasteners in vehicle assembly, maintenance, and repair processes. Torque tools play a critical role in ensuring the structural integrity, safety, and performance of automotive components and systems by applying the correct amount of torque to fasteners such as bolts, nuts, and screws. As vehicles become increasingly complex and technologically advanced, the demand for high-quality torque tools capable of delivering accurate and consistent torque levels across a wide range of applications continues to grow. The automotive torque tools market encompasses a diverse range of products, including torque wrenches, torque screwdrivers, torque multipliers, and torque testers, tailored to the specific needs and requirements of automotive OEMs, suppliers, and service providers.

Advancements in torque tool technology, coupled with the proliferation of electric and hybrid vehicles, autonomous driving systems, and lightweight materials in automotive manufacturing, are driving innovation and growth in the global market. Modern torque tools feature precision-engineered components, ergonomic designs, and advanced torque measurement capabilities, enabling users to achieve precise torque levels with minimal effort and maximum efficiency. Digital torque wrenches equipped with electronic displays and data logging capabilities offer real-time torque measurement and recording, enhancing accuracy, traceability, and quality control in automotive assembly and repair operations. Additionally, the integration of wireless connectivity and cloud-based software solutions enables remote torque monitoring, calibration, and management, supporting predictive maintenance and compliance with industry standards and regulations.

The automotive torque tools market is influenced by various factors, including regional automotive production trends, technological advancements, regulatory requirements, and customer preferences. North America, Europe, and Asia-Pacific are key regions driving the growth of the market, with significant investments in automotive manufacturing, research, and development. North America, particularly the United States, is a major market for automotive torque tools, supported by the presence of leading automotive OEMs, suppliers, and aftermarket service providers. Europe, known for its stringent quality standards and advanced engineering capabilities, also presents lucrative opportunities for torque tool manufacturers, especially in countries with strong automotive industries such as Germany and the United Kingdom. In the Asia-Pacific region, countries like China, Japan, and South Korea are experiencing rapid growth in automotive production and technology adoption, driving the demand for high-quality torque tools across various vehicle segments. Overall, the global automotive torque tools market is poised for continued expansion, driven by the evolving needs of the automotive industry and the relentless pursuit of precision, efficiency, and safety in vehicle manufacturing and maintenance processes.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Tools
    2. Market Snapshot, By Operating Mechanism
    3. Market Snapshot, By Region
  4. Global Automotive Torque Tools Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Advancements in Automotive Manufacturing Processes
        2. Emphasis on Precision and Accuracy in Torque Application
        3. Growing Adoption of Electric and Hybrid Vehicles
        4. Expansion of Automotive Aftermarket Sector
      2. Restraints
        1. Lack of Skilled Workforce for Torque Tool Operation
        2. Complexity in Calibration and Maintenance
        3. Competition from Alternative Torque Measurement Methods
        4. Volatility in Raw Material Prices
      3. Opportunities
        1. Expansion into Emerging Markets with Growing Automotive Sector
        2. Collaboration with Automotive OEMs and Suppliers
        3. Integration with Industry 4.0 Technologies for Enhanced Efficiency
        4. Adoption of Lightweight Materials for Improved Ergonomics and Portability
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Torque Tools Market, By Tools, 2020 - 2030 (USD Million)
      1. Torque Screwdrivers
      2. Torque Wrench
      3. Torque Multiplier
      4. Nutrunner
    2. Global Automotive Torque Tools Market, By Operating Mechanism, 2020 - 2030 (USD Million)
      1. Manual
      2. Pneumatic
      3. Electronic
      4. Hydraulic
    3. Global Automotive Torque Tools Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Stanley Black & Decker
      2. Norbar
      3. Torcstar
      4. Tone
      5. Rad Torque Systems
      6. Torque Master Tools
      7. Toptul
      8. Atlas Copco AB
      9. Shingare Industries
      10. Tekton
  7. Analyst Views
  8. Future Outlook of the Market