Electric Torque Wrench Market was valued at USD 1.50 Billion in 2022 and is projected to reach USD 2.80 Billion by 2030, growing at a CAGR of 8.50% from 2024 to 2030.
The Electric Torque Wrench market has been experiencing significant growth from 2018 to 2022, driven by increasing demand across various industrial sectors. Key drivers include advancements in technology, enhanced product features, and rising automation trends. As industries such as automotive, construction, and manufacturing expand, the need for efficient and precise torque tools has surged. This surge has led to a noticeable increase in both production and demand for electric torque wrenches during this period. The rise in global industrial automation, coupled with the growing demand for precision in torque application, has made these tools indispensable in assembly lines, repair shops, and large-scale manufacturing plants.
From 2018 to 2022, the Electric Torque Wrench market witnessed remarkable expansion, with the adoption of lithium-ion batteries in tools, allowing for longer operational hours and faster charging times. Additionally, the development of smart torque wrenches, which offer real-time data logging and integrated sensors, further fueled the market’s growth. North America and Europe led in demand due to strong industrial bases and the high adoption rate of advanced technologies. However, Asia Pacific also displayed notable growth, particularly in emerging economies like China and India, where the industrial sector has grown exponentially.
The demand for Electric Torque Wrenches is expected to continue its upward trajectory from 2023 to 2033, albeit at a slightly altered pace due to evolving market dynamics. The trend of increasing industrial automation will likely continue, pushing the demand for electric torque wrenches further. The automotive industry, with its continued shift towards electric vehicles (EVs), will demand tools that can ensure precision and reliability during assembly, especially for high-torque applications. Additionally, as construction projects scale up in developing regions, there will be a heightened need for robust and efficient electric torque wrenches. This period may also see more innovations in terms of digital integration and connectivity features, as industries demand more from their tools.
Electric Torque Wrenches are expected to become more embedded in smart factory environments, where tools communicate with other equipment to ensure precision and quality in the manufacturing process. As a result, the integration of AI and IoT will likely drive the market even further, making electric torque wrenches a key component in the digitization of industrial processes. Additionally, innovations such as automated tightening systems and torque control mechanisms will be crucial for meeting the evolving demands of the industry.
Get an In-Depth Research Analysis of the Global Electric Torque Wrench Market Size And Forecast [2025-2032]
Enerpac
Hytorc
Hydratight
ITH
TorcUP
Powermaster
Norwolf Tool Works
Plarad
WREN
HTL
Torq/Lite
TorsionX
Torc-Tech
Maxpro Corporation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the Global Electric Torque Wrench Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Torque Wrench Market
Oil & Gas
Plants and Refineries
Power Industry
Other
Based on Types the Market is categorized into Below types that held the largest Electric Torque Wrench market share In 2023.
Straight Type Electric Torque Wrench
Angled Type Electric Torque Wrench
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ Electric Torque Wrench Market Research Analysis
1. Introduction of the Global Electric Torque Wrench Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electric Torque Wrench Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Torque Wrench Market, By Type
6. Global Electric Torque Wrench Market, By Application
7. Global Electric Torque Wrench Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electric Torque Wrench Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/