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Air Wrenches Market Size

Report ID: GMI12333
Published Date: Nov 2024
Report Format: PDF

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Air Wrenches Market Size

The global air wrenches market was valued at USD 2.63 billion in 2023 and is estimated to grow at a CAGR of over 5.2% from 2024 to 2032.

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As industries like automotive repair, construction, and manufacturing demand tools capable of handling higher torque applications, the appetite for advanced air wrenches is surging. The spotlight is on innovations in high-torque air wrenches, especially those that promise speed and precision in power delivery.

Air Wrenches Market Report Attributes
Report Attribute	Details
Base Year:	2023
Air Wrenches Market Size in 2023:	USD 2.63 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.2%
2032 Value Projection:	USD 4.14 Billion
Historical Data for:	2021 - 2023
No. of Pages:	220
Tables, Charts & Figures:	180
Segments covered:	Product Type, Drive Size, Power Source, Application, End-Use, Distribution Channel, and Region
Growth Drivers:	Rising demand for automation in industries such as automotive, manufacturing, and construction Technological advancements
Pitfalls & Challenges:	High initial cost

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for air wrenches was reached USD 2.63 billion in 2023 and is estimated to grow at a 5.2% CAGR from 2024 to 2032, driven by the rising demand for tools capable of handling higher torque applications in industries like automotive repair, construction, and manufacturing.

The impact wrenches segment crossed USD 1.5 billion in 2023 and is estimated to grow at a CAGR of around 5.4% from 2024 to 2032, led by their pivotal role in automotive and industrial applications.

The automotive segment held around 37% share of the market in 2023 and is anticipated to grow at a CAGR of 5.5% during 2024 to 2032, propelled by the expanding global automotive aftermarket and the need for efficient and durable tools.

The U.S. air wrenches market dominated with a 78% share in 2023, driven by the presence of major automotive manufacturers and the essential role of air wrenches in automotive assembly lines.

Key players in the air wrenches industry include ACDelco Tools, Aircat Pneumatic Tools, Atlas Copco AB, Bosch Tools Corporation, Campbell Hausfeld, Chicago Pneumatic, Hindustan Tools, Hitachi Koki Co., Ltd. (now HiKOKI), Ingersoll Rand Inc., Kawasaki Heavy Industries, Ltd., Makita Corporation, Matco Tools, Snap-on Incorporated, SP Air Corporation, and Stanley Black & Decker, Inc.