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 Torque Wrench Market: Introduction

   A torque wrench is a device used to precisely use a specific torque to fasten a tool, such as a nut, bolt, etc. It is usually used for the type of socket wrench and includes a special internal mechanism.

The torque wrench was created by Conrad Barr in 1918 while working for the New York City Water Department, which was invented to prevent over-tightening of bolts during steam or water pipe repairs. Use torque wrenches where bolt and screw tightness is critical.

It allows the operator to estimate or measure the torque applied to the fastener tool in order to balance it with the specifications of the specific application. The torque wrench allows precise tension and load to all parts of the machine where it is applied.

It can measure torque like a nut or bolt tension proxy. This technique produces few inaccuracies due to uncalibrated or inconsistent friction between the fastener tool and its mating hole. Measurement of bolt tension is actually needed, but often, a torque wrench is the only feasible measurement tool that can be performed.

Torque wrenches market: market dynamics
   The torque wrench market is driven by a variety of factors such as the automotive industry, manufacturing, and construction. As these industries have witnessed high growth rates, this in turn will drive the demand of the torque wrench market due to its application in these industries.

The automotive industry is one of the world's largest torque wrench end-use industries. Torque wrenches are widely used in automobile production activities and vehicle repair and maintenance. As a result, growth in global vehicle sales and production is expected to radically accelerate the demand for wrenches during the forecast period.

The growth of product innovation is one of the key factors driving the growth of the torque wrench market. The manufacturer has incorporated several innovations in the design of the torque wrench by modifying the materials used and improving its reliability and efficiency.

   Innovative products significantly differentiate the products of suppliers in the torque wrench market. This growth in the torque wrench market is further supported by growing demand from the manufacturing and engineering industries, as well as increased investment in the construction industry. On the other hand, various companies have proposed electric and hybrid vehicles, which will bring new opportunities to the automotive industry and the torque wrench market.

Torque Wrenches Market: Regional Outlook
 The Asia-Pacific region is expected to have a market share of more than 50% in 2017 and is expected to continue to dominate the global torque wrench market during the forecast period. Some Asia-Pacific countries, such as China and India, will show great growth in the global market for torque wrenches due to increased employment opportunities.

The Asia-Pacific region is closely followed by North America and Europe in terms of value market share. The global market for torque wrenches in North America is being limited due to the use of advanced technology. Therefore, due to the increase in the use of torque wrenches in various departments, Europe will show a huge growth in the global torque wrench industry.

In the forecast years, the global market for torque wrenches will witness diversified innovations in torque wrench materials used to manufacture torque materials and their designs, which will make them more efficient and reliable in fastening tool applications. These innovations make a big difference between the products of various suppliers, which will promote the market growth of torque wrench market.

Torque Wrench Market: Market Players
 Some examples of market players in the torque wrench market identified throughout the value chain are Apex Tool Group Singapore Pte Ltd, Artisan, Energy Pacific, FACOM, HYTORC DIV UNEX, K Tools International, Muskinin Fabrik Wagner Ltd KG, Muntz Company, Noba Torque Tools Ltd, Park Tools, Power Master Engineers Pvt. Ltd. Precision Instruments, Primo Tools, Stanley Black and Dekker, tecton, East One American, TONE, Ltd, etc.