The global economy is expected to expand 5.6% in 2021，global recovery is strong but uneven as many emerging market and developing economies continue to struggle with the COVID-19 pandemic, the world is unlikely to ever reach global herd immunity. However, the recovery in many countries is being held back by a resurgence of COVID-19 cases and lagging vaccination progress, as well as the withdrawal of policy support in some instances.
The annual U.S. economic growth rate slipped to -3.5% in 2020, but grew at a yearly pace of more than 6% in the previous two quarters of 2021. The economy of continental Europe bounced back in the second quarter after having contracted in both the fourth quarter of 2020 and the first quarter of 2021, as the vaccinations accelerated, and governments eased restrictions. Among major economies, the annualized growth rate was 6.1% in Germany, 3.6% in France, 11.2% in Italy, and 11.7% in Spain. The especially rapid growth in Spain and Italy was attributed to a surge in consumer spending, likely the result of an easing of economic restrictions.
Regional Economic Prospects: Growth in the East Asia and Pacific is projected to accelerate by 7.7% in 2021, Central Asia is forecast to grow by 3.9% this year, economic activity in the Middle East and North Africa is forecast to advance by 2.4%, South Asia is projected to expand by 6.8%.
The global The Automotive Wrenches market size was USD XX billion in 2021. It is likely to progress at a CAGR of XX% during the forecast period of 2022-2027, according to XYZResearch analysis, The segment in The Automotive Wrenches market is estimated to reach a market value of USD XX billion by 2021 from an initial market value of USD XX billion in 2021. China market value in 2021 is about USD XX billion, and China The Automotive Wrenches production is XX (K Units). US market value in 2021 is about USD XX billion, and US The Automotive Wrenches production is XX (K Units). Europe market value in 2021 is about USD XX billion, and Europe The Automotive Wrenches production is XX (K Units).
Regional Segmentation (Value; Revenue, USD Million, 2017 - 2027) of The Automotive Wrenches Market by XYZResearch Include
Competitive Analysis; Who are the Major Players in The Automotive Wrenches Market?
Tone Co., Ltd
Apex Tool Group
Major Type of The Automotive Wrenches Covered in XYZResearch report:
Open End Wrench
Box End Wrench
Application Segments Covered in XYZResearch Market
Light Commercial Vehicles
Heavy Commercial Vehicles
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