Hydraulic Torque Market Report

The global hydraulic torque wrench market is anticipated to gain growth with increasing demand for modern manufacturing and production machinery in lucrative industries such as power, construction, oil and gas, and renewables. Hydraulic torque wrench is widely used in applications such as production assemblies and services, coupling bolts of railcars, mining haul trucks, flange connections in plants and refineries, and bridge turnbuckles.

Strong Demand for Hydraulic Gantry Systems to Create Opportunities for Players

Hydraulic torque wrench could be largely used for hydraulic gantry systems, which find use in heavy-duty applications such as removing decommissioned tube trains, lifting stackers/reclaimers, lifting or replacing bridges, and installation of power plant heaters. Increasing demand for advanced equipment used in oil and gas exploration and production activities is expected to strengthen the growth of the global hydraulic wrench market. Some of the common applications of hydraulic torque wrench are ANSI flange connections, slewing gearing box of offshore cranes, and cantilever of crane ships.

High demand for hydraulic torque wrench in the wind turbine industry could be another factor driving the growth of the global market. Hydraulic torque wrench is largely used for tower flange and blade bolt connections and slewing gearbox of wind turbines.

Market Segments

By Product Type

● Drive Hydraulic Wrench

● Hollow Hydraulic Wrench

By Application

● Oil and Gas

● Power

● Plants and Refineries

● Others

Drive hydraulic wrench is widely used in different industries because of its durability and versatility. It finds key application in paper, steel, construction, quarry, mining, and power generation industries. The oil and gas industry is expected to create ample of opportunities for global players in future. Hydraulic torque wrench is frequently used in oil and gas applications such as offshore drilling, refineries, shale, fracking operations, pipelines, and land rigs.

By Region

Asia Pacific is expected to account for a considerable share of the global hydraulic torque wrench market. Leading growth drivers such as high demand for oil and gas equipment due to increasing exploration and production activities in the industry could support the Asia Pacific hydraulic torque wrench market. The emerging region has high oil refining capacity and shows strong consumption of petroleum products such as diesel and gasoline as vehicle fuel. Hydraulic torque wrench is also used in power generation and general power plant maintenance applications. According to industry analysts, the energy demand in Asia Pacific is increasing at a tremendous rate. This could further add to the growth of the hydraulic torque wrench market in the developing region.

Partnership with Film and Sheet Extrusion and Internet of Tools Companies to Benefit Players

Some of the key hydraulic torque wrench manufacturers are Enerpac, Torc-Tech, Hytorc, TorsionX, Torq/Lite, Hydratight, HTL, ITH, WREN, TorcUP, Plarad, Powermaster, and Norwolf Tool Works. Players are anticipated to adopt merger and acquisition, partnership agreement, technological advancement, and new product launch as leading strategies to expand their business in the global hydraulic torque wrench market. In June 2019, Hytorc partnered with Cumulus to benefit the bolting industry with 21st century technology. During the same month, the company announced a bolting solutions partnership with Kuhne Group.

The machinery and equipment sector is always undergoing changes with evolution in technology. Machinery and equipment include a wide range of products for various applications. Players are constantly striving to bring in innovation for efficiency and to remain relevant in the cutthroat competition. QYR Consulting brings to its readers reports ranging from heavy trucks to automated teller machines. These reports have been written after a careful analysis of the growth of the market over decades and by taking into account its trajectory.

The titles below discuss opportunities, threats, strengths, and restraints present in the machinery and equipment sector. Our dedicated team of analysts have compiled key statistics that define the trends so far and highlight the key areas of development. The collection of reports track the potential areas for investments and the upcoming trends, which could be the defining moments for the industry.