Insights and Prediction of Hydraulic Bolt Tensioner Global Market Report (2019-2026)
The newly Hydraulic Bolt Tensioner market report provided a complete view of the present and future market. Deep analysis of enterprise competition pattern, enterprise product advantages and disadvantages, regional industrial layout characteristics. The base year considered for the study is 2018 and the market size is projected from 2019 to 2026.
Product Information
Hydraulic Bolt Tensioner has a hydraulic body which, using a hydraulic fluid, exerts a strong tension load on the bolt through the brace screwed on that bolt. The body also rests on the skirt in order to apply the reaction force on the assembly to be tightened. Hydraulic bolt tensioning is the fast, simple, safe, and accurate method of tightening bolts and studs.
On the basis of products, the various types include Topside Bolt Tensioners, Sub Sea Bolt Tensioners, Wind Bolt Tensioners, and Others. On the basis of application, the Hydraulic Bolt Tensioner market is segmented into Oil and gas, Power generation, Subsea, Wind, and Industrial.
Market Insights
According to a new research study, the Hydraulic Bolt Tensioner market size is expected to reach USD 593 million by 2026 from USD 466 million in 2019, with a compound annual growth rate of 3.5% during the forecast period. The rise of advanced tool technology for connecting bolts using hydraulic bolt tensioners has greatly reduced the number of workplace accidents and improved the efficiency and precision of the accessories. The most significant factor that is contributing to the market is a growing demand for Hydraulic Bolt Tensioner in various applications such as Oil and gas, Power generation, Subsea, Wind, and Industrial as they assure leak-free, safe and fast bolted connections for flanges, piping, and other industrial equipment. Growth in industrialization and urban population have increased the demand for energy, thus further propel the growth of the market.
Regional Segment Analysis
The report focuses on detailed analysis of major regions like North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Columbia), and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
Asia-Pacific is the global market leader at a share of 38% and is anticipated to show the same trend during the forecast period. The rising energy needs and growth of the oil & gas industry are expected to promote the growth of the market in this region. The rapid industrialization and urbanization in developing economies, such as China and India, are expected to drive the growth of the market. North America is currently leading Europe with a market share of 32% and 20%. North America is expected to experience significant growth in the coming years, owing to the presence of significant oil & gas and power generation industries in the region.
