Pneumatic
Hydraulic automotive torque tools market to exhibit robust growth over 2019-2025
Automotive torque tools market plays a significant role in the growth of the global auto sector owing to the ease of operation, speed, smooth handling ability as well as extreme reliability of these tools. Increasing technological advancements in the automobile market and gradually rising vehicle sales imply a probable hike in the demand for automotive tools & equipment to address maintenance needs. Driven by growing design complexities in vehicle engines, which require precise torque settings to tighten components, automotive torque tools industry is expected to witness substantial gains in coming years.
U.S. Automotive Torque Tools Market, By Tools, 2018 & 2025, (USD Million)
Pneumatic tools are a vital component in global automotive torque tools market on account of their requirements in high-performance automotive applications. Pneumatic tools are simple, clean, reliable, lightweight, and robust enough to endure harsh site conditions, making them the perfect choice for fast, efficient and accurate bolting applications. These tools provide continuous torque and are proven to achieve the correct torque values in a more cost-efficient manner. Rising demand for these products combined with continuous development of pneumatic tool portfolio by industry players will reinforce the adoption of pneumatic torque tools.
Recently Ingersoll Rand introduced a host of pneumatic tools application across different business segments, including auto manufacturing. These products included effective torque wrenches designed for maximum torque during fastening and are targeting use in hazardous working environments. Similar efforts taken by other tool manufacturers to cater to the growing need for automobile assembly, repair and maintenance applications will fuel automotive torque tools market expansion. Global vehicle production had surpassed the 95.6 million mark in 2018, indicating the massive customer base for automotive tools.
Electronic torque tools are anticipated to witness significant consumption owing to their user-friendly operation, technology-assisted precision, programmable torque settings and real time digital display. The tool also delivers sensory, acoustic and visual signals to alert the operator once the pre-set torque is reached. The lack of vibration and longer life spans increase the product’s demand in the automotive sector. Several advantages offered by innovative electric options over conventional tools will certainly outline automotive torque tools industry outlook over the forecast period.
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Hydraulic torque tools are expected to witness a stellar installation rate in the automotive torque tools market due to their utilization in heavy-duty applications. Hydraulic tools are self-ratcheting machines with extreme precision torque control coupled with a high degree of accuracy. Increased joint integrity and decreased bolting time makes them best suited for high-level automobile applications. Early this year Enerpac Co. unveiled a versatile line of hydraulic torque wrenches capable of operating hexagon cassette as well as square drive head, demonstrating innovative approach of industry players.
Electric vehicles have become widely popular on account of the smooth and quiet operation of their engines the ability to mitigate environmental concerns. EVs offer much higher torque than expected because the wheels are driven directly by electric power. Hybrid electric vehicles operate on a hybrid system that functions on both electric power as well as fuel, presenting additional challenges in vehicle maintenance. Dependence on battery has led to the development of novel, insulated torque tools for hybrid cars and EVs to ensure efficient and safe handling of parts, expanding the scope of global automotive torque tools industry.
Innovative trends in material usage to design and manufacture automotive tools with enhanced reliability and efficiency in bolt fastening applications have transformed automotive torque tools market dynamics. The International Organization for Standardization (ISO) and other administrative bodies have proposed certain guidelines with respect to design, quality, calibration and measurements of tools to control quality and performance. As these regulations keep updating and standards evolve to keep pace with the changing auto sector, there would be consistent advancement of torque tools deployed in the automotive sector.
Owing to continuous rise in the production of vehicles and the necessity of torque tools in manufacturing and maintenance, automotive torque tools industry is poised to register a notable growth in the coming years. Key players coming up with new and innovative products include Atlas Capco, Ingersoll Rand, Torcstar, Enerpac, GEDORE and Tekton. Reports estimated that global automotive torque tools market will exceed an annual valuation of US$1.2 billion by 2025.
Author Name : Hrishikesh Kadam
Aerospace & defense fluid conveyance systems market to amass hefty returns via aftermarket sales, global industry share to exceed USD 22 billion by 2024
The rising deployment of fleet services for transportation & military operations has been driving aerospace & defense fluid conveyance systems market considerably since the last few years. With increasing disposable incomes and subsequently changing lifestyles, air transportation has lately gained substantial momentum, fueling the need for commercial aircraft. In addition, in order to eliminate terrorist activities, which have been increasing rapidly since the last few decades, many countries have been deploying unmanned aerial vehicles and high-speed jets. Aided by changing military strategies and heavy investments in the defense sector, aerospace & defense fluid conveyance systems industry size is anticipated to witness a massive upsurge over 2018-2024.
U.S. Aerospace & Defense Fluid Conveyance Systems Market, By Fluid, 2017 & 2024, (USD Million)
Taking into account the primary need of fluid conveyance systems in aircraft production, leading aircraft manufacturers have been establishing partnerships with fuel system manufacturers. An instance of the aforementioned is GKN Aerospace’s contract signed with General Atomics Aeronautical Systems Inc., in 2017, for developing, designing, and manufacturing fuel conveyance systems. GKN Aerospace, through this development agreement, apparently looked forward to developing fuel systems for UAV (unmanned aerial vehicle) applications. The firm planned to manufacture fuel bladders through a vacuum forming process in conjunction with the latest polyurethane (PU) material that is durable and lightweight. Given that UAVs are prominently used in the defense sector for performing various surveillance and other military tasks, GKN is likely to strengthen its stance in aerospace & defense fluid conveyance systems market through this deal, in addition to encouraging its fellow adversaries to increase their investments in the development of military UAVs.
The surging deployment of aircraft for defense as well as commercial purposes has been creating lucrative opportunities not only for original equipment manufacturers but also for aftermarket product developers. In fact, in order to rake in maximum capital, aircraft companies are signing long-term deals with aftermarket product suppliers. The collaboration of airline companies with aftermarket product distributors is proving rather beneficial for this vertical, in terms of reduced maintenance cost and improved fleet reliability.
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Citing a recent instance justifying the aforementioned statement, in 2016, Emirates signed a 10-year aftermarket agreement with Unison Industries to upgrade the GE90 and GP7200 engine fleets. Emirates back then, could leverage Unison’s expertise in the areas of upgrades, exchange programs, and repairs with mutual goals of the highest quality support. The deal testified that requirement of the aftermarket is vitally important for maintaining fleet services. Indeed, as per estimates, aerospace & defense fluid conveyance systems market size from the aftermarket distribution channel is slated to register a CAGR of 3.5% over 2018-2024.
Elaborating further on the growth strategy scenario in aerospace & defense fluid conveyance systems market, it is noteworthy to mention in 2015, Parker Aerospace signed a long-term deal with Emirates to provide a maintenance package to its Airbus A330/A340 and Boeing 777 engines and aircraft. As per the agreement, Parker will establish its repair facilities and network outstations across the globe to support Emirates, which will emerge to be advantageous for regional companies and local support teams to generate a sufficient inventory pool for fleet maintenance. This in consequence would have a remunerative impact on the overall aerospace & defense fluid conveyance systems industry outlook over the years ahead.
The mutual cooperation between aircraft companies and product suppliers is likely to be one of the major driving forces of aerospace & defense fluid conveyance systems industry. The surging deployment of UAVs for performing military operations will also have a remarkable impact on product demand over the years ahead. Driven by the escalating demand for fleet components and the robust competitive hierarchy, aerospace & defense fluid conveyance systems market share will increase at a CAGR of 3% over 2018-2024.
Author Name : Sunil Hebbalkar
Global Market Insights Inc. 