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The global impact socket market size reached US$ 981.71 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,306.59 Million by 2027, exhibiting a growth rate (CAGR) of 4.70% during 2022-2027.
An impact socket is a mechanical device used in conjunction with powered impact or air wrenches or drivers, as the combination of these provides sufficient torque for a fastener to be tightened. As opposed to regular sockets, impact sockets are usually made of chrome molybdenum and are black in color due to a coating of black oxide. They store kinetic energy in a rotating hammer that is connected to the impact socket, thereby reducing the probability of shattering from vibrations caused. The impact socket moves clockwise or anticlockwise as the kinetic energy is released, thus resulting in the loosening or tightening of the nut bolt. It is used by mechanics in garages to remove seized nuts and bolts from cars with impact wrenches. Apart from this, they are also extensively used by professional racing teams for fast tightening or loosening the nut bolts while changing tires on vehicles.
The market is primarily driven by the expanding construction activities across the globe. This can be attributed to considerable growth in the construction, real estate and hospitality industries. In addition to this, the rapid product utilization in the manufacturing sector for loosening or tightening nuts and bolts is creating lucrative growth opportunities for the market. Numerous impact socket manufacturers are being offered subsidies by the governments of their respective countries while receiving technology transfers from renowned companies, which is providing an impetus to the market. The market is also fueled by the easy product availability across online and offline organized retail channels. Furthermore, numerous merger and acquisition (M&A) activities by key players seeking to gain a competitive advantage through joint ventures are propelling the market. Some of the other factors that are creating a positive outlook for the market include rapid urbanization and industrialization, continual product innovations, inflating disposable income levels and extensive research and development (R&D) activities.
IMARC Group provides an analysis of the key trends in each sub-segment of the global impact socket market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, size, distribution channel and application.
Breakup by Type:
Breakup by Size:
Breakup by Distribution Channel:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Apex Tool Group LLC, Deltec Industries Ltd, Grey Pneumatic Corp., IMPERIAL-Newton Corporation, Powermaster Engineers Pvt. Ltd., Stanley Black & Decker Inc., Teng Tools AB, Tien-I Industrial Co. Ltd. and Wright Tool Company Inc. (Federal Resources Supply Company).
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Size, Distribution Channel, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Apex Tool Group LLC, Deltec Industries Ltd, Grey Pneumatic Corp., IMPERIAL-Newton Corporation, Powermaster Engineers Pvt. Ltd., Stanley Black & Decker Inc., Teng Tools AB, Tien-I Industrial Co. Ltd. and Wright Tool Company Inc. (Federal Resources Supply Company).|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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