DUBLIN--(BUSINESS WIRE)--The "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" report has been added to Research and Markets' offering.
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.
The key driving factors for the growth of the DC torque tool market include the increasing sales of commercial and passenger vehicles, the use of Industry 4.0 accelerates adoption of DC torque tools, the requirement of specific torque as well as flexible and efficient fastening tools. Moreover, the advent of brushless DC motors drives the growth of the market for cordless fastening tools.
DC torque tools are widely used in the automotive industry at various stages. These tools are used by OEMs as well as in the service and repair centers. According to the International Organization of Motor Vehicle Manufacturers (OICA), the global commercial vehicle sales have surged by 3.27% and 4.37% in 2015 and 2016, respectively. Moreover, automotive manufacturers continued to invest in the new and upgraded production line. The automotive industry requires critical fastening solutions and DC torque tools that provide the precise torque. Increasing automotive production is expected to drive the DC torque tool market in the near future.
Companies Mentioned:
- Apex Tool Group, Llc
- Atlas Copco Ab
- Estic Corporation
- Gedore-Werkzeugfabrik Gmbh & Co. Kg
- Hilti Corporation
- Hitachi Koki Co., Ltd.
- Ingersoll-Rand Plc
- Makita Corporation
- Panasonic Corporation
- Robert Bosch Gmbh
- Stanley Black & Decker, Inc.
- Techtronic Industries Co. Ltd. (Tti)
- Uryu Seisaku, Ltd.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Electric Fastening Systems Market, By Type
7 Electric Fastening Systems Market, By Power Source
8 Electric Fastening Systems Market, By Control System
9 Electric Fastening Systems Market, By Industry
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/b7x5sd/dc_torque_tool
