Published Date : 02 Oct 19 | Views: 185 | Industry : Machinery & Equipment
Drive hydraulic wrench is a preferred hydraulic torque product.
The global
Hydraulic Torque market is segregated into two segments such as by product and
by application. By product, the market is further segmented into hollow
hydraulic wrench and drive hydraulic wrench. Among products, drive hydraulic
wrench is majorly adopted industrial product because of its compact size,
durability, and cost-efficiency.
By application,
the global Hydraulic Torque market is categorized into plants and refineries,
oil and gas, power industry, and Other. Hydraulic Torque wrenches are used
across the industries including nuclear or fossil fuel plants, and even in a
refinery or chemical plant for efficiency, durability, and reliability. Torque
products are usually designed for the most critical bolting application around
the world.
Growing sales of automotive vehicles in North America
to increase global Hydraulic Torque market growth
Europe is one of
the premier manufacturers and consumers of automobiles and therefore, it is
anticipated to observe significant market growth in the global Hydraulic Torque
market. Apart from Europe, North America is also to witness high demand in the
Hydraulic Torque wrenches because of increasing sales of automotive vehicles in
the region.
As far as Asia
Pacific is concerned, growing urbanization and various infrastructural
development activities in the oil, energy and power sector in Asia Pacific are
supporting the growth of the global Hydraulic Torque market.
Key Players
The global
Hydraulic Torque market is majorly dominated by some of the key players such as
Norwolf Tool Works, Hydratight, Powermaster, Torq/Lite, Tech, TorsionX, WREN,
Torc, Enerpac, TorcUP, HTL Hytorc, Plarad, and ITH
Flourishing automobile industry to drive the global
Hydraulic Torque market growth
The automotive
industry is one of the largest end-use industries of Hydraulic Torque wrench.
Torque wrenches are highly used in automobile manufacturing activities and for
repairing and maintenance of vehicles. Therefore, increasing automobile sales
and production expected to accelerate the demand for Hydraulic Torque wrench in
the upcoming years. Product development is a noticeable trend across various
industries, which is driving the overall growth of the global Hydraulic Torque
market. Manufacturers are incorporating various innovative ideas for designing
wrenches to improve their performance and reliability.
Various energy and power projects require bolting together hundreds of steel joints and Hydraulic Torque tools provide a precise amount of torque to each nut. Growing manufacturing and energy and power industry is further supporting the global Hydraulic Torque market growth. At the same time, companies are introducing various electric and hybrid cars, which is projected to create opportunities for manufacturers in the global Hydraulic Torque market.