Seak Torque Market Size, Share, Growth, and Industry Growth by Type (Adjustable Click, Preset Click, Electronic Torque, Torque Testers, Screwdriver Torque, Dial Torque, Torque Multipliers, and Interchangeable Heads), By Application (Aviation & Aerospace, Oil & Gas, Power Generation, Automotive – Manufacturing, Automotive – Repair & Aftermarket, and Heavy Duty Equipment & Engines) Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global seak torque market size is estimated to be USD 4.432 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with seak torque experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 5.337 billion by 2028, exhibiting a CAGR of 3.5% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Seak torque is a type of torque that helps objects rotate. It ensures safety and helps, in improving the car’s performance. The faster the speediness, the smaller the rotation, and vice versa, it reflects the load capacity of the car within a certain range.

Increasing demand for the equipment in automation is expected to fuel market growth. Rapid industrialization and urbanization are projected to drive market growth. High demand to maintain vehicle performance is predicted to surge market growth. High demand from the manufacturing and engineering industry is anticipated to surge market growth. The equipment helps to improve efficiency and reliability. Such advantages of the equipment are predicted to propel market progress. Growing adoption of electric and hybrid cars will bring new opportunities to the market expansion. High investment by major market players is predicted to propel market expansion in the coming years. Increasing demand from aviation & aerospace sector is anticipated to accelerate market growth.

COVID-19 Impact: Shutdown of End-User Industries to Hamper Market Progress

An outbreak of COVID-19 pandemic affected market progress. Shutdown of end-user industries such as aviation & aerospace, oil & gas, power generation, and automotive – manufacturing impacted market expansion. Lockdown restriction halted production activities. Curfews and social distance protocols impacted equipment adoption. Lower demand for transportation and repairing of vehicles declined market growth. The market witnessed downfall in economy.                           

LATEST TRENDS

"Growth in Automotive Sector to Foster Market Growth"

Increasing demand for the equipment in automotive sector is estimated to surge market growth. Torque act as an engine’s rotational force and measures. Such advantages of the equipment are projected to drive market growth. Growing need for operating a doorknob is predicted to fuel market growth. High demand for horsepower in the vehicle is anticipated to accelerate market growth during the forecast period. It works differently based on the energy source and engine type. The equipment helps to loosen the lid while horsepower spins it off. The equipment helps to enable efficient and energy saving driving, which is anticipated to accelerate market growth. Having an extra toque in the vehicle helps to create enough power in the vehicle. The equipment has less noise which is one of the features to fuel product adoption. In the vehicles, the product helps to engage the smooth clutch, and it does not require and human action in operation. Such advantages of the equipment are predicted to accelerate seak torque market growth.

SEGMENTATION

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• By Type

Based on type, the market is divided into preset click, adjustable click electronic torque, torque testers, screwdriver torque, torque multipliers dial torque, and interchangeable heads.

Adjustable click is expected to be the leading part of the segmentation type.

• By Application

Based on the application, the market is divided into oil & gas, power generation, aviation & aerospace automotive – repair & aftermarket, automotive – manufacturing and heavy duty equipment & engines.

Aviation & aerospace is expected to be the leading part of application segmentation.

DRIVING FACTORS

"Increasing Demand from Aviation & Aerospace Sectors to Stimulate Market Expansion "

Increasing demand for aviation and aerospace globally is estimated to surge market growth. Growing need to improve engine performance is estimated to propel market growth. High adoption of aerospace as a mean of communication is projected to boost market growth. Increasing need to reduce aircraft incidents or accidents is anticipated to accelerate market growth. Today, air transport is considered as a safest form of transportation. High demand for the safety of passengers is projected to drive market growth. Further, increasing demand for high-precious tools is anticipated to propel market growth. Increasing demand to improve operator experience and accuracy is estimated to accelerate market growth. High demand for data logging is predicted to fuel seak torque market expansion in the coming years.

"Growth in Oil and Gas Industry to Incite Market Progress"

Growing demand for oil and gas industry is estimated market growth. In the sector need for heavy bolt connections are projected to drive market growth. High demand for maintaining joint-integrity to complete maintenance jobs. Such advantages of the equipment are expected to propel market growth. The equipment has multiple benefits, such as power, safety, portability, and accuracy. Such benefits associated with the equipment are anticipated to accelerate market growth in the coming years. It helps to data-recording in the sector, which is predicted to surge market development. The equipment is simple to use and has low weight, which is projected to boost equipment adoption. Further, it has high efficiency and requires low maintenance which is estimated to expand seak torque market growth.

RESTRAINING FACTORS

"Frequent Fluid Change and High Fuel Consumption to Hinder Market Growth "

High demand for frequent fluid change is expected to hamper market growth. Further, high fuel consumption is projected to restrict market expansion in the forthcoming years. High cost associated with the equipment is anticipated to reduce seak torque market growth.

REGIONAL INSIGHTS

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"Increasing Demand for Automotive Sector in North America to Drive Market Share "

North America is expected to be a prominent seak torque market share due to growing demand from the automotive sector. Increasing technological advancement in the region is projected to drive market growth. Growing adoption of the equipment for testing purposes is anticipated to accelerate market growth. Rapid industrialization and urbanization are projected to drive market growth. High demand to maintain vehicle performance is predicted to surge market growth. High demand from the manufacturing and engineering industry is anticipated to surge market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Facom (France)
• Proto (Japan) 
• Stahlwille (Germany)
• Tonichi (Japan) 
• King Tony (Taiwan)
• Gedore (Germany)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.