Shear Wrenches Market: An Insight On the Important Factors and Trends Influencing the Market
Shear wrenches are specially designed for installing tension control bolts. Shear wrenches are lightweight and easy to use. Shear wrench has an outer socket which rotate the nut anti clock wise and clutching the spline of bolt with its inner socket to turn it in clockwise direction. Technical specification such as bolt capacity, maximum fastening torque, machine size and weight of each shear wrench depends on its need and requirement. There are three main types of shear wrenches such as electric shear wrench, TC Bolt shear wrench and pneumatic shear wrench. Furthermore, based on its application such as available tension control wrench, shear wrenches are segregated in 4 different types such as standard, minimal clearance, hard wrench and others.
Shear wrenches are used in one sided installation. Shear wrenches does not require air compressor and tool calibration. Also, shear wrenches has low maintenance. The shear wrenches market has seen increased growth in recent years due to safety and security standards implemented across the industrial sector. The shear wrenches market is expected to witness significant growth due to increasing use of shear wrenches in steel and bridge constructions. In addition, increase in the implementation of total productive maintenance and good practices in different industries are anticipated to drive the global shear wrenches market during the forecast period.
Increase in awareness about using shear wrenches as a part of steel and bridge construction is expected to be one of the primary factors responsible for the expansion of the shear wrench market. Moreover, shear wrench helps to save installation cost and assembly time. Also, shear wrench helps to minimize risk of Hand Arm Vibration Syndrome (HAVS) due to its low vibrations. Hand Arm Vibration Syndrome is an industry injury caused by continues use of vibrating hand held equipment.
Additionally, shear wrenches provide reliable tensions without manual work. Also, increase in use of shear wrenches due to its capability of installing different bolts of diameters with single tool, is expected to boost the global shear wrench market. However, concerns about assembly conditions such as lack of space where shear wrenches cannot reach, are projected to restrain the shear wrenches market. Nevertheless, new designs with less vibrations cherished by consumers are expected to create significant opportunities for the global shear wrenches market.
The global shear wrenches market can be classified based on product type, applications and regions. Based on product type, the shear wrenches market can be segmented into electric shear wrench, pneumatic shear wrench and others. In terms of application, the shear wrenches market can be classified into steel processing, bridge industry, in house or household and others. Based on region, the global shear wrenches market can be classified into North America (The U.S., Canada and Mexico), Europe (Germany, The U.K., France, Italy and Russia), Asia & Pacific (China, India, Japan, South Korea, Australia and others), Middle East & Africa (GCC and South Africa) and South America.
Major players operating in shear wrenches market include Tone Tool, Makita, SG Shear Wrench, TRITORC INC, Shanghai Huxiao, TCB – Tension Control Bolts & Shear Wrenches, Haydon Bolts, INC., Le Jeune Bolt Company, GWY INC., Structural Bolt and Manufacturing, INC., Jining Bafang Mining Machinery Group Co., Ltd., ZHEJIANG BINGO TOOLS CO., LTD., MRO Tools.
All these players compete with each other with respect to their product portfolio in order to survive in the market. With increasing competitiveness in the market, top companies are therefore focusing on manufacturing new structured innovative products with sustainable features and expanding their production and research facilities to strengthen their presence in the global shear wrenches market.