DC Torque Tool Market

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MarketsandMarkets Research Private Ltd.
Presents
DC Torque Tool Market worth 3.38 Billion USD by
2023 with a growing CAGR of 3.16
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According to the new market research report "DC
Torque Tool Market by Type (Handheld and Fixtured
Tools), Power Source (Corded and Cordless),
Control System (Transducer and Current), Industry
(Automotive, Aerospace, and Energy), and
Geography - Global Forecast to 2023", the DC
torque tool market is expected to grow from USD
2.81 Billion in 2017 to USD 3.38 Billion by 2023,
at a CAGR of 3.16 between 2017 and 2023. DC
torque tool also known as electric fastening
systems. Factors that are driving the growth of
the market include the increasing sales of
commercial and passenger vehicles, the use of
Industry 4.0 accelerates the adoption of DC
torque tool, and the requirement of specific
torque as well as flexible and efficient
fastening tools. Browse gtgt
64 Market data tables 47
figures 145 pages and
in-depth TOC on DC Torque Tool Market
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Handheld tools expected to hold the largest
share of the overall DC torque tool market during
the forecast period Handheld fastening tools
have many applications across several industries
and are available in both corded and cordless
forms. Electric nutrunners, electric torque
wrenches, electric screwdrivers, and electric
impact wrenches are some of the most widely used
handheld DC torque tools. These tools provide the
precise torque required for various industrial
applications. Handheld DC torque tools offer more
flexibility, better ergonomics, and more power to
the weight ratio. The popularity of cordless DC
torque tools has helped this market to hold a
larger market share of the global DC torque tool
market. Market for cordless tools expected to
grow at the highest CAGR Advancements in
battery technologies and falling price of Li-Ion
batteries lead to the increasing adoption of
cordless DC torque tools. The improvements in
batteries and strong replacement of NiCd
batteries with LiIon batteries help cordless
tools to capture a larger share of the DC torque
systems market. Moreover, the efficient and fast
charging techniques accelerate the growth of the
cordless segment.
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Market for transducer control tools expected to
grow at the highest CAGR Transducer control
tools provide accurate and precise torque,
depending on the application. Unlike the current
control tools, transducer control tools are not a
guesswork these tools provide the highest
accuracy in fastening process therefore, owing
to its multiple benefits, many manufacturers
provide transducer control tool-based DC torque
tool. Various factors such as variations in
temperature, gear system, voltage, and motor
performance do not affect the accuracy of the
system. Companies such as Desoutter Industrial
Tools, a subsidiary of Atlas Copco AB (Sweden),
Stanley Black Decker Inc. (US), Robert Bosch
GmbH (Germany), Estic Corporation (Japan), and
Ingersoll Rand plc (Ireland) have an extensive
product portfolio of transducer control fastening
tools. Europe expected to hold the largest
share of the overall DC torque tool market
between 2017 and 2023 The presence of a huge
automotive industry, many wind turbines
installations (more than one-third of the global
cumulative installations in 2016), and home
appliance manufacturing plants helps Europe to
hold the largest share of the global DC torque
tool market. Atlas Copco AB (Sweden), Robert
Bosch GmbH (Germany), Stanley Black Decker,
Inc. (US), Apex Tool Group, LLC (US), and
Ingersoll Rand plc (Ireland) are some of the
leading players in the DC torque tool
market. Companies such as Snap-on Incorporated
(US), Makita Corporation (Japan), Panasonic
Corporation (Japan), Hitachi Koki Co., Ltd.
(Japan) and Techtronic Industries Co. Ltd. (Hong
Kong) play a vital role in the manufacturing of
DC torque tools.
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