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Impact Socket Market Share, Size, Key Player Analysis and Opportunity 2022-27

The latest research study “Impact Socket Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that 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 represents a mechanical device used in confluence with powered impact or air drivers or wrenches, as the combination of these delivers sufficient torque for a fastener to be tightened. As opposed to regular sockets, impact sockets are typically made of chrome molybdenum and are black, owing to a layer of black oxide. They store kinetic energy in a rotating hammer that is attached to the impact socket, thereby lowering the probability of breaking from vibrations caused. The impact socket moves clockwise or anticlockwise as the kinetic energy is released, thus resulting in the tightening or loosening of the nut bolt. It is used by mechanics in garages to remove seized bolts and nuts from cars with effect wrenches. As a result, impact sockets find widespread applications across various sectors, such as automotive, industrial, and construction.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Impact Socket Market Trends and Drivers:

The rising construction activities across the globe, on account of the expanding building, real estate, and hospitality industries, are among the primary factors driving the impact socket market. In addition, the extensive product utilization in the manufacturing sector for loosening or tightening nuts and bolts and its easy availability across online and offline organized retail channels are further augmenting the market growth. Besides this, the launch of several policies by the government bodies to provide subsidies to impact socket manufacturers is also catalyzing the global market. Moreover, the increasing merger and acquisition (M&A) activities by the leading players to gain a competitive advantage through joint ventures are acting as significant growth-inducing factors. Apart from this, the emerging trend of urbanization and industrialization, the continuous product innovations, and the inflating disposable income levels are anticipated to propel the impact socket market over the forecasted period.

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Impact Socket Market Report Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• 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).

The report has been segmented the market into following categories:

Breakup by Type:
• Hex Sockets
• In-Hex Sockets

Breakup by Size:
• 1/2 Inch
• 3/8 Inch
• 1/4 Inch

Breakup by Distribution Channel:
• Online
• Offline

Breakup by Application:
• Automotive
• Industrial
• Construction
• Others

By Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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