Hydraulic Torque Wrench Market Dynamics 2021-2031
A hydraulic torque wrench is a tool particularly designed for exerting torque on a fastener for proper loosening or tightening by the use of hydraulics. Hydraulic torque wrenches have got accuracy of ±3% and they also have a high degree of repeatability. These features makes them suitable for applications where large bolts are used and high degree of accuracy is needed. Hydraulic torque wrenches are widely used in plants and refineries. With increase in demand, this market is expected to exhibit a significant growth in near future.
MARKET DYNAMICS
With use of advanced technology, manufacturers are trying to make the product even more effective, accurate and efficient. With several modifications, the utility of the product can be increased and it can cater to various applications. Considering the growth of power, oil and gas industry, the hydraulic torque wrench market is anticipated to grow significantly in upcoming years.
MARKET SCOPE
The "Global Hydraulic Torque Wrench Market Analysis to 2031" is a specialized and in-depth study of the hydraulic torque wrench market with a special focus on the global market trend analysis. The report aims to provide an overview of hydraulic torque wrench market with detailed market segmentation by type, application and geography. The global hydraulic torque wrench market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading hydraulic torque wrench market players and offers key trends and opportunities in the hydraulic torque wrench market.
MARKET SEGMENTATION
The global hydraulic torque wrench market is segmented on the basis of type and application. On the basis of type, the market is segmented as drive hydraulic wrench and hollow hydraulic wrench. On the basis of application, the market is segmented as oil and gas, plants and refineries, power industry and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global hydraulic torque wrench market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The hydraulic torque wrench market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting hydraulic torque wrench market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the hydraulic torque wrench market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global hydraulic torque wrench market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The hydraulic torque wrench market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting hydraulic torque wrench market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the hydraulic torque wrench market in these regions.
MARKET PLAYERS
The reports cover key developments in the hydraulic torque wrench market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from hydraulic torque wrench market are anticipated to lucrative growth opportunities in the future with the rising demand for hydraulic torque wrench market. Below mentioned is the list of few companies engaged in the hydraulic torque wrench market.
The report also includes the profiles of key hydraulic torque wrench market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ENERPAC
- HTL Group Ltd.
- Hydratight Limited
- HYTORC
- ITH GmbH and Co. KG
- Maschinenfabrik Wagner GmbH and Co. KG
- NORWOLF TOOLS
- Powermaster Engineers Pvt. Ltd.
- TorcUP Inc.
- Torq/Lite
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Hydraulic Torque Wrench Market - By Type
1.3.2 Hydraulic Torque Wrench Market - By Application
1.3.3 Hydraulic Torque Wrench Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HYDRAULIC TORQUE WRENCH MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. HYDRAULIC TORQUE WRENCH MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. HYDRAULIC TORQUE WRENCH MARKET - GLOBAL MARKET ANALYSIS
6.1. HYDRAULIC TORQUE WRENCH - GLOBAL MARKET OVERVIEW
6.2. HYDRAULIC TORQUE WRENCH - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. HYDRAULIC TORQUE WRENCH MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DRIVE HYDRAULIC WRENCH
7.3.1. Overview
7.3.2. Drive Hydraulic Wrench Market Forecast and Analysis
7.4. HOLLOW HYDRAULIC WRENCH
7.4.1. Overview
7.4.2. Hollow Hydraulic Wrench Market Forecast and Analysis
8. HYDRAULIC TORQUE WRENCH MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. OIL AND GAS
8.3.1. Overview
8.3.2. Oil and Gas Market Forecast and Analysis
8.4. PLANTS AND REFINERIES
8.4.1. Overview
8.4.2. Plants and Refineries Market Forecast and Analysis
8.5. POWER INDUSTRY
8.5.1. Overview
8.5.2. Power Industry Market Forecast and Analysis
8.6. OTHER
8.6.1. Overview
8.6.2. Other Market Forecast and Analysis
9. HYDRAULIC TORQUE WRENCH MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Hydraulic Torque Wrench Market Overview
9.1.2 North America Hydraulic Torque Wrench Market Forecasts and Analysis
9.1.3 North America Hydraulic Torque Wrench Market Forecasts and Analysis - By Type
9.1.4 North America Hydraulic Torque Wrench Market Forecasts and Analysis - By Application
9.1.5 North America Hydraulic Torque Wrench Market Forecasts and Analysis - By Countries
9.1.5.1 United States Hydraulic Torque Wrench Market
9.1.5.1.1 United States Hydraulic Torque Wrench Market by Type
9.1.5.1.2 United States Hydraulic Torque Wrench Market by Application
9.1.5.2 Canada Hydraulic Torque Wrench Market
9.1.5.2.1 Canada Hydraulic Torque Wrench Market by Type
9.1.5.2.2 Canada Hydraulic Torque Wrench Market by Application
9.1.5.3 Mexico Hydraulic Torque Wrench Market
9.1.5.3.1 Mexico Hydraulic Torque Wrench Market by Type
9.1.5.3.2 Mexico Hydraulic Torque Wrench Market by Application
9.2. EUROPE
9.2.1 Europe Hydraulic Torque Wrench Market Overview
9.2.2 Europe Hydraulic Torque Wrench Market Forecasts and Analysis
9.2.3 Europe Hydraulic Torque Wrench Market Forecasts and Analysis - By Type
9.2.4 Europe Hydraulic Torque Wrench Market Forecasts and Analysis - By Application
9.2.5 Europe Hydraulic Torque Wrench Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Hydraulic Torque Wrench Market
9.2.5.1.1 Germany Hydraulic Torque Wrench Market by Type
9.2.5.1.2 Germany Hydraulic Torque Wrench Market by Application
9.2.5.2 France Hydraulic Torque Wrench Market
9.2.5.2.1 France Hydraulic Torque Wrench Market by Type
9.2.5.2.2 France Hydraulic Torque Wrench Market by Application
9.2.5.3 Italy Hydraulic Torque Wrench Market
9.2.5.3.1 Italy Hydraulic Torque Wrench Market by Type
9.2.5.3.2 Italy Hydraulic Torque Wrench Market by Application
9.2.5.4 United Kingdom Hydraulic Torque Wrench Market
9.2.5.4.1 United Kingdom Hydraulic Torque Wrench Market by Type
9.2.5.4.2 United Kingdom Hydraulic Torque Wrench Market by Application
9.2.5.5 Russia Hydraulic Torque Wrench Market
9.2.5.5.1 Russia Hydraulic Torque Wrench Market by Type
9.2.5.5.2 Russia Hydraulic Torque Wrench Market by Application
9.2.5.6 Rest of Europe Hydraulic Torque Wrench Market
9.2.5.6.1 Rest of Europe Hydraulic Torque Wrench Market by Type
9.2.5.6.2 Rest of Europe Hydraulic Torque Wrench Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Hydraulic Torque Wrench Market Overview
9.3.2 Asia-Pacific Hydraulic Torque Wrench Market Forecasts and Analysis
9.3.3 Asia-Pacific Hydraulic Torque Wrench Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Hydraulic Torque Wrench Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Hydraulic Torque Wrench Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Hydraulic Torque Wrench Market
9.3.5.1.1 Australia Hydraulic Torque Wrench Market by Type
9.3.5.1.2 Australia Hydraulic Torque Wrench Market by Application
9.3.5.2 China Hydraulic Torque Wrench Market
9.3.5.2.1 China Hydraulic Torque Wrench Market by Type
9.3.5.2.2 China Hydraulic Torque Wrench Market by Application
9.3.5.3 India Hydraulic Torque Wrench Market
9.3.5.3.1 India Hydraulic Torque Wrench Market by Type
9.3.5.3.2 India Hydraulic Torque Wrench Market by Application
9.3.5.4 Japan Hydraulic Torque Wrench Market
9.3.5.4.1 Japan Hydraulic Torque Wrench Market by Type
9.3.5.4.2 Japan Hydraulic Torque Wrench Market by Application
9.3.5.5 South Korea Hydraulic Torque Wrench Market
9.3.5.5.1 South Korea Hydraulic Torque Wrench Market by Type
9.3.5.5.2 South Korea Hydraulic Torque Wrench Market by Application
9.3.5.6 Rest of Asia-Pacific Hydraulic Torque Wrench Market
9.3.5.6.1 Rest of Asia-Pacific Hydraulic Torque Wrench Market by Type
9.3.5.6.2 Rest of Asia-Pacific Hydraulic Torque Wrench Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Hydraulic Torque Wrench Market Overview
9.4.2 Middle East and Africa Hydraulic Torque Wrench Market Forecasts and Analysis
9.4.3 Middle East and Africa Hydraulic Torque Wrench Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Hydraulic Torque Wrench Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Hydraulic Torque Wrench Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Hydraulic Torque Wrench Market
9.4.5.1.1 South Africa Hydraulic Torque Wrench Market by Type
9.4.5.1.2 South Africa Hydraulic Torque Wrench Market by Application
9.4.5.2 Saudi Arabia Hydraulic Torque Wrench Market
9.4.5.2.1 Saudi Arabia Hydraulic Torque Wrench Market by Type
9.4.5.2.2 Saudi Arabia Hydraulic Torque Wrench Market by Application
9.4.5.3 U.A.E Hydraulic Torque Wrench Market
9.4.5.3.1 U.A.E Hydraulic Torque Wrench Market by Type
9.4.5.3.2 U.A.E Hydraulic Torque Wrench Market by Application
9.4.5.4 Rest of Middle East and Africa Hydraulic Torque Wrench Market
9.4.5.4.1 Rest of Middle East and Africa Hydraulic Torque Wrench Market by Type
9.4.5.4.2 Rest of Middle East and Africa Hydraulic Torque Wrench Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Hydraulic Torque Wrench Market Overview
9.5.2 South and Central America Hydraulic Torque Wrench Market Forecasts and Analysis
9.5.3 South and Central America Hydraulic Torque Wrench Market Forecasts and Analysis - By Type
9.5.4 South and Central America Hydraulic Torque Wrench Market Forecasts and Analysis - By Application
9.5.5 South and Central America Hydraulic Torque Wrench Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Hydraulic Torque Wrench Market
9.5.5.1.1 Brazil Hydraulic Torque Wrench Market by Type
9.5.5.1.2 Brazil Hydraulic Torque Wrench Market by Application
9.5.5.2 Argentina Hydraulic Torque Wrench Market
9.5.5.2.1 Argentina Hydraulic Torque Wrench Market by Type
9.5.5.2.2 Argentina Hydraulic Torque Wrench Market by Application
9.5.5.3 Rest of South and Central America Hydraulic Torque Wrench Market
9.5.5.3.1 Rest of South and Central America Hydraulic Torque Wrench Market by Type
9.5.5.3.2 Rest of South and Central America Hydraulic Torque Wrench Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. HYDRAULIC TORQUE WRENCH MARKET, KEY COMPANY PROFILES
11.1. ENERPAC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. HTL GROUP LTD.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. HYDRATIGHT LIMITED
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. HYTORC
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ITH GMBH AND CO. KG
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MASCHINENFABRIK WAGNER GMBH AND CO. KG
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NORWOLF TOOLS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. POWERMASTER ENGINEERS PVT. LTD.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TORCUP INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TORQ/LITE
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. ENERPAC
2. HTL Group Ltd.
3. Hydratight Limited
4. HYTORC
5. ITH GmbH and Co. KG
6. Maschinenfabrik Wagner GmbH and Co. KG
7. NORWOLF TOOLS
8. Powermaster Engineers Pvt. Ltd.
9. TorcUP Inc.
10. Torq/Lite
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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