The global pneumatic tools market is enhanced by the increasing demand for pneumatic tools like buffers, grinders, staples, riveting guns, jack hammers, and others in various industries like the manufacturing industry, construction industry, food, etc
Covid-19 Impact & Market Status
Due to travel prohibitions and business closures, the COVID-19 has had a negative impact on economies and businesses in a number of countries. The closure of various plants and factories has had a severe influence on global supply chains, negatively affecting manufacturing, delivery schedules, and product sales in the worldwide market. Most sectors, with the exception of medical supplies and life support items, had been severely hit, and pneumatic tools market had also been severely impacted and the growth of the market was hampered due to the reduced demand for pneumatic tools during this period as everything came to a standstill.
The report provides suitable conclusions and recommendations based on the findings. The detailed industry insights presented in the report empowers you to achieve better knowledge and understanding of the current status of the global pneumatic market and its expected future developments in 2022-2029.
Pneumatic Valves In High Demand
Actuator, valves and fittings are some of the different types of pneumatic tools available in the market. Pneumatic valves have currently earned the highest revenue share in the market and is predicted to continue in the same way during the analysis period due to the rising demand of pneumatic valves in the manufacturing and mechanical domains. In addition, the growing use of heavy vehicles is expected to drive market growth over the projection period. The rise of pneumatic valves in industrial equipment is being driven by OEMs' common desire in building a lean, mean machine that can be mass produced and sold to different markets with the minimal number of alterations.
Industrial Segment To Earn Highest Revenue
Industrial, residential and others are the different applications for the pneumatic tools market. The Industrial segment currently earns the highest revenue share in the market, and it is predicted to continue to rise during the analysis period due to significant demand in sectors such as automotive, oil & gas, and aerospace, as well as an increase in construction activity in emerging nations. Also, because of the rising consumer demand for pneumatic tools for household and DIY activities, the residential category is also predicted to rise rapidly.
Automotive Segment To Remain Atop
Automotive and Food Processing & Packaging industries are the for the end users of the pneumatic tools market. The automotive industry currently earns the highest revenue share in the market, and it is predicted to continue to rise during the analysis period as pneumatic tools aid in the production of various auto parts and provide power to the machines that lift, transport, position, and fasten the vehicle's components. Compressed air is also used to stamp and mould metal sheets into crucial car components such as door panels, trunk lids, and structural components.
Asia-Pacific Expected To Dominate The Market
Despite the abundance of big companies in North America, manufacturers of pneumatic equipment are mostly centered in Asia, particularly China. The market for pneumatic equipment in these regions is being driven by a focus on energy saving and growing automation penetration. The manufacturing sector in China and India is expanding rapidly throughout the region. For enhanced efficiency and output, businesses have leaned toward automation mixed with pneumatic equipment. The industrial industry has also benefited from low-cost labour and improved labour rules, creating a large market for pneumatic equipment in the region.
The global pneumatic tools market expansion is aided by the longer life of these tools and their availability in different sizes, shapes and patterns.
Owing to benefits such as higher power-to-weight ratio, safe operation, lighter and easier to handle, low cost, safe, versatility, productivity and power, the pneumatic tools are experiencing rapid adoption as opposed to other tools thus fostering remarkable progress in global pneumatic tools market.
The pneumatic tools market is predicted to grow form USD 79.93 billion in 2020 to about USD 170.62 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 7.34 percent during the forecast period 2019-2029.
The pneumatic tools are widely used in different kinds of equipment for increasing the safety and smooth operability of the equipment. These tools increase the efficiency of operations and hence they are in high demand across several industries which has helped the global pneumatic tools market to grow exponentially. Furthermore, pneumatic tools also have several benefits like corrosion resistance, low maintenance and longer service life which have increased their popularity thereby driving the global pneumatic tools market.
Pneumatic tools are is an air or pneumatic powered tool that is powered by the air supplied by an air compressor. Compressed air is used to power pneumatic tools because it is the power of air pressure that allows them to work.
The fluctuation in the prices of raw materials are one main restraints of the global pneumatic tools market as these tools are usually made up of imported materials such as steel, metal, and aluminium which have constant price changes due to exchange rates and other factors.
Furthermore, rising demand for pneumatic tools in industries such as manufacturing, automotive, aerospace and others, growing industrialization is expected to fuel further progress of global pneumatic tools market.
The market has intense competition due to the high demand and consists of several big corporations such as Stanley Black & Decker, Parker Hannifin, Festo, Eaton Corporation, The 3M Company, SMC, Paslode, Dom Pneumatic Tools, Stanley Black & Decker, HITACHI, Apex Tool Group, EATON, Bosch Tool, Delton Pneumatics, Makita, Toku Pneumatic, and Atlas Copco among others.
Latest Innovations in the Pneumatic Tools Market: A Snapshot
- In April 2022, a European vehicle manufacturer collaborated with Eaton's eMobility division to be provided with Eaton’s Breaktor circuit protection technology. The technology is a circuit protection solution for BEVs that comprises of fuses, pyro switches and contactors in a single device which provides protection when the power level of electric vehicles rises.
Pneumatic Tools Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 170.62 billion|
|Growth Rate||CAGR of 7.34% during 2021-2028|
|Segment Covered||Type, Application, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Stanley Black & Decker, Parker Hannifin, Festo, Eaton Corporation, The 3M Company, SMC, Paslode, Dom Pneumatic Tools, Stanley Black & Decker, HITACHI.|
Key Segments of the Pneumatic Tools Market
Type Overview, 2019-2029 (USD Billion)
- Riveting Guns
- Jack Hammers
Application Overview, 2019-2029 (USD Billion)
End User Overview, 2019-2029 (USD Billion)
- Food Processing and Packaging
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa