The Reports and Insights, a leading market research company, has recently releases report titled “Portable Torque Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Portable Torque Meter Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Portable Torque Meter Market?
The global portable torque meter market is anticipated to exhibit a compound annual growth rate (CAGR) of 7.2% from 2023 to 2031.
What are Portable Torque Meter?
A Portable Torque Meter is a measuring instrument designed to quantify the amount of rotational force, or torque, applied to an object. The primary function is to measure the torsional force applied to a rotating shaft, fastener, or any other component within a system. This device typically consists of an electronic for data processing, torque sensor, and a display for presenting the torque readings. Further, this device is used in various applications in tasks such as quality control during manufacturing processes, maintenance of machinery, and research and development. This is a versatile tool that plays a vital role in ensuring the proper functioning and reliability of rotating systems by providing accurate and portable measurements of applied torque.
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What are the growth prospects and trends in the Portable Torque Meter industry?
The Portable Torque Meter market growth is driven by several trends and factors. Firstly, this device is used in various industries, including aerospace, automotive, and electronics, are increasingly adopting portable torque meters to ensure the accuracy of torque applications in their production lines. Secondly, they play a vital role in verifying the torque applied to critical components such as suspension systems, engine parts, and fasteners. Furthermore, the increasing focus on preventive maintenance in industrial settings, enabling maintenance professionals to monitor and calibrate torque tools regularly, preventing equipment failures and reducing downtime. Overall, the portable torque meter market growth is driving by the demand for accuracy in manufacturing, the automotive industry's stringent requirements, the importance on preventive maintenance, technological advancements, and the ongoing transition towards smart manufacturing practices.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Type:
Digital Portable Torque Meter
Analog Portable Torque Meter
By Technology:
Electronic Torque Meters
Mechanical Torque Meters
By Application:
Automotive
Aerospace
Manufacturing
Construction
Oil and Gas
Others
By End-Use:
Original Equipment Manufacturers (OEMs)
Aftermarket
Market Segmentation By Region:
North America:
United States
Canada
Europe:
Germany
United Kingdom
France
Italy
Spain
Russia
Poland
BENELUX
NORDIC
Rest of Europe
Asia Pacific:
China
Japan
India
South Korea
ASEAN
Australia & New Zealand
Rest of Asia Pacific
Latin America:
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa:
Saudi Arabia
South Africa
United Arab Emirates
Israel
Rest of MEA
Who are the key players operating in the industry?
The report covers the major market players including:
Snap-on Incorporated
Norbar Torque Tools Ltd.
Kistler Holding AG
Mountz Inc.
Trescal Ltd.
Atlas Copco AB
Crane Electronics Ltd.
Sturtevant Richmont
Techtronic Industries Co. Ltd. (TTI)
AIMCO
Tohnichi Mfg. Co., Ltd.
Full Report: https://www.reportsandinsights.com/report/portable-torque-meter-market
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