DC Torque Tool Market Worth 3.38 Billion USD by 2023

According to the new market research report published by MarketsandMarkets™ , the market is expected to grow from USD 2.81 Billion in 2017 to USD 3.38 Billion by 2023, at a CAGR of 3.16% between 2017 and 2023. DC torque tool also known as electric fastening systems. Factors that are driving the growth of the market include the increasing sales of commercial and passenger vehicles, the use of Industry 4.0 accelerating the adoption of DC torque tool, and the requirement of specific torque as well as flexible and efficient fastening tools.

"Europe expected to hold the largest share of the overall DC torque tool market between 2017 and 2023" 

The presence of a huge automotive industry, many wind turbines installations (more than one-third of the global cumulative installations in 2016), and home appliance manufacturing plants helps Europe to hold the largest share of the global DC torque tool market. Atlas Copco AB (Sweden), Robert Bosch GmbH (Germany), Stanley Black & Decker, Inc. (US), Apex Tool Group, LLC (US), and Ingersoll Rand plc (Ireland) are some of the leading players in the DC torque tool market.