New York, March 30, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research (PMR), the global DC Torque Tool Market was valued at US$ 3.5 billion in 2022. It is projected to reach a revenue of US$ 6.0 billion by 2032. It is anticipated to showcase a CAGR of 5.6% between 2022 and 2032.
Increased adoption of industry 4.0 and automation in the manufacturing sector has led to the widespread popularity of DC torque tools. These tools can be easily integrated into automated assembly lines and provide real-time torque data, enhancing productivity.
Use of DC torque tools also helps to prevent over-tightening, which can cause equipment damage and safety hazards. These tools can reduce the risk of repetitive motion injuries associated with manual torque wrenches.
DC torque tools offer several advantages over manual torque wrenches. Firstly, these tools enable users to apply the same torque to each bolt or screw, which is crucial for maintaining quality control and avoiding expensive errors.
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This consistency ensures that the product is assembled to the required specifications every time. DC torque tools are faster and more efficient than manual tools, which can save time and money. They can tighten bolts and screws quickly, thereby increasing productivity and reducing labor costs.
Accuracy is a key feature of DC torque tools, which makes them particularly useful in several industries, including automotive, aerospace, and manufacturing. These tools provide highly precise torque readings, ensuring that the product is assembled to the required specifications.
Ability to obtain real-time data makes it easier to detect and address any assembly issues quickly. In the automotive industry, for instance, DC torque tools are essential for ensuring the safety of both the driver and passengers.
Any loose bolts or screws could cause significant problems, such as accidents or damage to the vehicle. DC torque tools provide a reliable way to ensure that all components are tightened to the correct torque value.
In conclusion, DC torque tools offer significant benefits over manual torque wrenches, including improved consistency, efficiency, and accuracy. These advantages make them valuable assets for several industries, particularly those that require high precision and quality control. As such, DC torque tools are likely to become increasingly popular in the years to come.
To maintain the accuracy of DC torque tools, they must undergo regular calibration. This is crucial for ensuring that the torque readings provided are reliable. However, this process might require additional equipment or expertise, which can be time-consuming and costly.
DC torque tools are generally more expensive than manual torque wrenches. This cost difference might make them less accessible to small businesses or individuals who only need them occasionally. As a result, a few people might choose to stick with manual torque wrenches, even if they are less efficient and accurate, due to budget constraints.
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Key Takeaways from DC Torque Tool Market Study
- The global DC torque tool market exhibited a CAGR of about 2.9% from 2017 to 2021.
- The USA DC torque tool market size is expected to be worth US$ 1.2 billion in 2032.
- The United Kingdom DC torque tool market exhibited growth at a CAGR of 1.7% from 2017 to 2021.
- Japan DC torque tool market is estimated to surpass a valuation of US$ 416.3 million by 2032.
- Based on vertical, the automotive category is expected to surge by 5.2% from 2022 to 2032.
“In recent years, the automotive industry has been extensively using DC torque tools. This is expected to continue as more commercial and passenger cars are made using these tools. It is likely to help the DC torque tool market to expand.” – Says a lead analyst.
Competitive Landscape: DC Torque Tool Market
DC torque tool manufacturers are providing various sales promotions, discounts, and incentives to encourage customers to buy their products. These include package deals, financing options, and free accessories along with the purchase of DC torque tools.
For instance,
- In May 2022, CRAFTSMAN launched a series of V20 portable power tools that cater to hobbyists. The new tools include a V20 rotary tool (CMCE030B), a soldering iron (CMCE040B), a compact personal fan (CMCE010B), a 150W power inverter (CMCB1150B), and an LED light equipped with a magnifying lens (CMCE020B). These tools are specifically designed for on-the-go use and can be easily carried to the job location.
- In May 2022, DEWALT introduced the ATOMIC Compact Series 20V MAX Brushless Cordless 23 GA. It has impressive runtime capabilities, allowing it to drive an average of 2,000 nails per charge to maximize productivity on the worksite. This pin nailer also features a tool-free jam release and depth adjustment system, ensuring accurate nail insertion.
Get More Exclusive Insights into DC Torque Tool Market Study
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the DC torque tool market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2023 to 2032.
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The study reveals extensive growth in the DC torque tool market in terms of power source (cordless, corded), type (flexure tool, handheld tool), vertical (shipbuilding, automotive, electronics & consumer appliances, energy, aerospace), and regions.
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