Torque Testers Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0207152
  • Format: Electronic (PDF)
  • Number of Pages: 194
  • Author(s): Joshi, Madhavi

Report Overview

The Torque Testers Market size was estimated at USD 150 million in 2023 and is projected to reach USD 270 million by 2030, exhibiting a compound annual growth rate (CAGR) of 9.00% during the forecast period (2024-2030).

Torque Testers Market

(Market Size)
$150 million
$270 million
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 9.00%
2023 Market Size USD 150 million
2030 Market Size USD 270 million
Key Players Mark-10, Mecmesin, Sauter, PCE Instruments, Shimpo Instruments

Market Summary

The torque testers market is an integral segment within the machinery and equipment industry, focusing on devices used to measure and verify the torque applied to fasteners, components, and assemblies. These instruments are critical for ensuring product quality, safety, and compliance across various sectors, including automotive, aerospace, manufacturing, and electronics. Torque testers come in multiple forms, such as handheld devices, bench-mounted systems, and automated solutions, each designed to meet specific accuracy and application requirements. The market is driven by the increasing emphasis on precision in manufacturing processes, stringent regulatory standards, and the growing adoption of automation in industrial operations. Companies operating in this space continuously innovate to enhance measurement accuracy, user interface, and integration capabilities with other production systems. The demand for torque testers is also influenced by the expansion of industries where torque-critical applications are paramount, such as in the production of electric vehicles, consumer electronics, and industrial machinery. As global manufacturing activities intensify, the need for reliable torque measurement tools is expected to rise, supporting market growth. The market is characterized by the presence of both established players and emerging entrants, each competing on technology, product features, and service offerings. Overall, the torque testers market plays a vital role in upholding quality assurance protocols and optimizing operational efficiency in diverse industrial environments.

Key Highlights

The torque testers market showcases several key highlights that underscore its importance and evolution. One significant aspect is the advancement in digital torque testers, which offer enhanced accuracy, data logging capabilities, and connectivity options for real-time monitoring and analysis. These digital solutions are increasingly preferred over mechanical models due to their precision and integration with Industry 4.0 initiatives. Another highlight is the broadening application scope, with torque testers being utilized not only in traditional manufacturing but also in emerging fields like renewable energy systems, medical device production, and robotics. The market is also witnessing a trend towards portable and wireless torque testers, providing flexibility and ease of use in various operational settings. Additionally, there is a growing focus on calibration services and compliance with international standards such as ISO 6789 and ASME B107.300, which drives the adoption of certified torque testing equipment. Companies are investing in research and development to introduce multi-function testers that can measure torque along with other parameters like angle and force, offering comprehensive testing solutions. The emphasis on user-friendly interfaces, software integration, and automated reporting features is another key highlight, catering to the needs of modern industries seeking efficiency and reliability. These developments collectively enhance the value proposition of torque testers in ensuring product integrity and operational excellence.

Drivers, Opportunities & Restraints

The torque testers market is propelled by several drivers, including the increasing demand for quality control and assurance in manufacturing processes. Industries such as automotive, aerospace, and electronics require precise torque application to prevent failures and ensure safety, thereby boosting the adoption of torque testers. Stringent regulatory standards and certification requirements across global markets also act as significant drivers, compelling companies to invest in reliable testing equipment. The rise of automation and smart manufacturing practices further fuels market growth, as torque testers are integrated into automated production lines for continuous monitoring and adjustment. Opportunities in the market abound, particularly with the expansion of emerging economies where industrialization is accelerating. The growing focus on preventive maintenance and predictive analytics presents another opportunity, as torque testers can be used to monitor equipment health and prevent downtime. Additionally, the development of IoT-enabled torque testers that offer remote monitoring and data analytics capabilities opens new avenues for market expansion. However, the market faces certain restraints, such as the high cost of advanced torque testing systems, which may limit adoption among small and medium-sized enterprises. The need for skilled personnel to operate and calibrate these devices can also be a challenge, potentially hindering market growth. Economic fluctuations and reduced industrial activities in certain regions may temporarily impact demand, but the long-term outlook remains positive due to the critical role of torque testers in maintaining product quality and safety.

Concentration Insights

The torque testers market exhibits a concentrated landscape with a mix of global leaders and specialized regional players. Key companies such as Mecmesin, Mark-10 Corporation, and Sauter GmbH dominate the market, leveraging their extensive product portfolios, technological expertise, and strong distribution networks. These established players focus on innovation, introducing advanced features like digital displays, wireless connectivity, and software integration to maintain their competitive edge. The market also includes numerous smaller firms that cater to niche segments or offer cost-effective solutions, particularly in emerging markets. Geographically, North America and Europe hold significant market shares due to their well-established manufacturing sectors and stringent quality standards. However, Asia-Pacific is emerging as a rapidly growing region, driven by industrialization, increasing foreign investments, and the expansion of automotive and electronics industries. The concentration of manufacturing activities in countries like China, Japan, and South Korea contributes to the rising demand for torque testers in this region. Overall, the market is characterized by intense competition, with companies striving to enhance their product offerings, expand their geographic presence, and form strategic partnerships to capture larger market shares.

Type Insights

Torque testers are available in various types, each designed to meet specific application needs and accuracy requirements. Manual torque testers are commonly used for basic testing and calibration tasks, offering simplicity and cost-effectiveness. These devices are often handheld and suitable for applications where portability is essential. Digital torque testers represent a more advanced category, featuring electronic sensors, digital displays, and data output capabilities. They provide higher accuracy and are ideal for environments requiring precise measurements and record-keeping. Bench-mounted torque testers are designed for stationary use in laboratories or production settings, offering stability and the ability to handle higher torque ranges. Automated torque testers are integrated into production lines for continuous, high-volume testing, often featuring robotic arms and software control for efficiency. Additionally, there are specialized types such as torque analyzers, which combine torque measurement with other parameters like angle and force, providing comprehensive testing solutions. The choice of torque tester type depends on factors such as the required torque range, accuracy, application environment, and budget. As technology advances, the trend is shifting towards digital and automated solutions that offer enhanced functionality, connectivity, and integration with broader quality management systems.

Application Insights

Torque testers find applications across a wide range of industries, each with unique requirements for torque measurement and verification. In the automotive sector, torque testers are used to ensure the proper tightening of bolts, nuts, and critical components in engines, transmissions, and chassis systems, preventing failures and enhancing vehicle safety. The aerospace industry relies on torque testers for assembling aircraft structures, engines, and avionics, where precision is paramount to meet rigorous safety standards. In electronics manufacturing, these devices are employed to apply correct torque to screws and fasteners in devices like smartphones, laptops, and servers, avoiding damage to delicate components. The industrial machinery sector uses torque testers for maintenance and assembly of heavy equipment, ensuring operational reliability. Additionally, the medical device industry utilizes torque testers in the production of surgical instruments, implants, and diagnostic equipment, where accuracy is critical for patient safety. Other applications include energy sectors such as wind turbine assembly and oil and gas equipment maintenance. The versatility of torque testers makes them indispensable in any process involving fastened joints, contributing to quality assurance, compliance, and efficiency across diverse industrial applications.

Regional Insights

The torque testers market demonstrates distinct regional dynamics influenced by industrial development, regulatory frameworks, and economic conditions. North America is a prominent market, driven by advanced manufacturing sectors, stringent quality standards, and the presence of key industry players. The United States, in particular, shows strong demand due to its robust automotive, aerospace, and electronics industries. Europe follows closely, with countries like Germany, the UK, and France leading in adoption, supported by their emphasis on precision engineering and compliance with international standards. The Asia-Pacific region is experiencing rapid growth, fueled by industrialization, expanding manufacturing capabilities, and increasing investments in infrastructure. China, Japan, and South Korea are major contributors, with growing automotive production and electronics manufacturing boosting the need for torque testing equipment. Latin America and the Middle East & Africa are emerging markets, where developing industrial bases and rising quality consciousness are gradually driving demand. Each region presents unique opportunities and challenges, with local regulations and industry practices influencing market trends. Overall, the global torque testers market is diverse, with regional variations in adoption rates, preferred product types, and competitive landscapes.

Company Insights

The torque testers market features several key companies that play a significant role in shaping industry trends and advancements. Mecmesin is a leading player known for its comprehensive range of torque testers, including digital and automated systems, with a strong focus on accuracy and user-friendly design. Mark-10 Corporation specializes in torque and force measurement instruments, offering products that cater to various industrial applications, supported by robust software solutions. Sauter GmbH is another prominent name, providing high-precision torque testers with advanced calibration capabilities and compliance with international standards. Other notable companies include Mountz Inc., which offers a wide array of torque tools and testers, and PCE Instruments, known for its portable and benchtop torque measurement devices. These companies invest heavily in research and development to introduce innovations such as IoT integration, enhanced data analytics, and multi-functional testers. They also emphasize customer support, offering calibration services, training, and technical assistance to ensure optimal product performance. The competitive landscape is characterized by strategies such as product launches, partnerships, and geographic expansion to capture market share. Smaller and niche players often focus on specific regions or applications, contributing to a diverse and dynamic market environment.

Recent Developments

Recent developments in the torque testers market reflect ongoing innovation and adaptation to industry needs. Companies are increasingly introducing digital torque testers with Bluetooth and Wi-Fi connectivity, enabling seamless data transfer to cloud-based platforms for real-time monitoring and analysis. There is a growing trend towards the integration of torque testers with Industry 4.0 systems, facilitating automated data collection and predictive maintenance capabilities. Advances in sensor technology have led to improved accuracy and reliability, with some models offering measurement resolutions as fine as 0.1% of full scale. Another significant development is the expansion of product portfolios to include multi-axis torque testers, which can measure torque in multiple directions simultaneously, catering to complex assembly processes. Additionally, companies are focusing on enhancing user interfaces through touchscreen displays and intuitive software, making torque testers more accessible to operators with varying skill levels. Environmental sustainability is also becoming a consideration, with efforts to develop energy-efficient models and reduce the environmental impact of manufacturing processes. Partnerships and collaborations between torque tester manufacturers and industrial automation providers are on the rise, aiming to offer integrated solutions that enhance productivity and quality control. These developments underscore the market's evolution towards smarter, more connected, and efficient torque testing solutions.

Report Segmentation

The torque testers market report is segmented based on several criteria to provide a detailed analysis of market dynamics and opportunities. By type, the market is divided into manual torque testers, digital torque testers, bench-mounted torque testers, and automated torque testers, each catering to different accuracy and application needs. The application segment covers automotive, aerospace, electronics, industrial machinery, medical devices, and others, highlighting the diverse uses of torque testers across industries. Geographically, the report analyzes regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, examining regional trends, growth drivers, and competitive landscapes. Additionally, the report may include segmentation by torque range, distinguishing between low, medium, and high torque testers to address specific operational requirements. The end-user segment focuses on original equipment manufacturers (OEMs), maintenance repair operations (MRO), and calibration laboratories, providing insights into demand patterns from different customer groups. This comprehensive segmentation enables a thorough understanding of market structure, helping stakeholders identify growth areas, assess competition, and make informed decisions regarding product development and market entry strategies.

FAQs

What industries use torque testers? Torque testers are utilized across various industries including automotive, aerospace, electronics, industrial machinery, medical devices, and energy sectors. They ensure proper torque application in assembly and maintenance processes, enhancing product quality and safety.

How do digital torque testers differ from manual ones? Digital torque testers offer electronic measurement, digital displays, and data output capabilities for higher accuracy and record-keeping, while manual torque testers are mechanical, simpler, and often used for basic applications where portability is key.

What are the benefits of automated torque testers? Automated torque testers provide high efficiency, consistency, and integration with production lines for continuous monitoring, reducing human error and increasing throughput in high-volume manufacturing environments.

Why is calibration important for torque testers? Calibration ensures that torque testers maintain accuracy and reliability over time, complying with industry standards and preventing measurement errors that could lead to product failures or safety issues.

Which regions have the highest demand for torque testers? North America and Europe have strong demand due to advanced manufacturing and strict quality standards, while Asia-Pacific is growing rapidly driven by industrialization and expanding automotive and electronics sectors.

What should be considered when selecting a torque tester? Factors include torque range, accuracy requirements, application environment, need for data logging, connectivity options, and compliance with relevant standards to ensure the device meets specific operational needs.

Citius Research has developed a research report titled “Torque Testers Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Torque Testers Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Torque Testers Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Torque Testers Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Torque Testers Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Torque Testers Market
• Research Methodology
• Executive Summary
• Market Dynamics of Torque Testers Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Torque Testers Market
• Cost and Gross Margin Analysis of Torque Testers Market
• Torque Testers Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Torque Testers Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Torque Testers Market Key Stakeholders

Below are the key stakeholders for the Torque Testers Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Torque Testers Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Torque Testers Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Torque Testers Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Torque Testers Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Torque Testers Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Torque Testers Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Torque Testers Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Torque Testers Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Torque Testers Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Torque Testers Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Torque Testers Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Torque Testers Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Torque Testers Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Torque Testers Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Torque Testers Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Torque Testers Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Torque Testers Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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