Wilmington, Delaware, United States, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global pneumatic tools market is projected to flourish at a CAGR of 7.6% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 134.1 billion is anticipated for the market in 2031. As of 2023, the market for pneumatic tools is expected to close at US$ 96.4billion.
The increasing application of pneumatic tools in manufacturing industries to perform activities such as metal cutting, hammering, hole drilling, and surface finishing is expected to offer considerable pneumatic tools market opportunities.
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Competitive Landscape
The pneumatic tools market report highlights the fact that product development is a major strategy of pneumatic tools manufacturers. The market is highly competitive, with the presence of various global and regional players. Transparency Market Research has profiled the following players in its global pneumatic tools market report:
- Apex Tool Group
- Atlas Copco.
- Bosch Tool Corporation
- Delton Pneumatics
- Dom Pneumatic Tools
- EATON Corporation Inc.
- HITACHI Ltd
- Makita Corporation
- SMC Corporation
- Toku Pneumatic Co, Ltd.
Key Development in the Pneumatic Tools Market
- Atlas Copco has been focusing on the development of advanced pneumatic tools with improved ergonomics and performance. They have introduced innovative solutions for industries such as construction, manufacturing, and mining.
- Ingersoll Rand has continued to expand its portfolio of pneumatic tools and accessories. They have emphasized product durability, efficiency, and user comfort in their recent offerings.
- Chicago Pneumatic has introduced new pneumatic tools with enhanced features, including higher torque and improved energy efficiency. Their products cater to automotive, industrial, and construction applications.
- Snap-on has been involved in the development of precision pneumatic tools for automotive and industrial professionals. Their recent developments focus on productivity and reliability.
- Kobe Steel has been actively involved in product innovation, including the development of lightweight and high-performance pneumatic tools. They cater to industries such as automotive manufacturing.
The expansion of industrial sectors globally creates robust demand for pneumatic tools. These tools are essential for tasks such as machining, assembly, and material handling. The growing industrialization is expected to drive the growth of the pneumatic tools market during the forecast period.
Pneumatic tools, such as air compressors, nail guns, and impact wrenches, are widely used in construction and infrastructure projects. Growth in these sectors drives the demand for pneumatic tools. As the automotive industry grows and evolves, so does the demand for pneumatic tools used in assembly, painting, and maintenance.
The growing aerospace and aviation industries worldwide boost the demand for specialized pneumatic tools. Pneumatic tools play a pivotal role in aircraft assembly and maintenance, as they ensure fastening and drilling operations meet exacting standards. These tools are lightweight and offer high torque, making them essential for aircraft construction.
Key Takeaways from the Market Study
- As of 2022, the coffee servers market was valued at US$ 89.6 billion
- By type, the pneumatic drills segment to enjoy high demand, accumulating a high revenue share during the forecast period, as they can be used for both boring and fastening
- Based on application, the industrial segment is anticipated to dominate the industry during the forecast period
- Based on the end-use industry, the automobile segment is expected to generate high revenue during the forecast period.
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Pneumatic Tools Market: Key Trends and Opportunistic Frontiers
- As the automotive industry grows and evolves, so does the demand for pneumatic tools used in assembly, painting, and maintenance increases.
- Market players are investing in research and development efforts focusing on improving pneumatic tool performance, durability, and energy efficiency, making them more appealing to end-users.
Pneumatic Tools Market: Regional Analysis
- North America dominates the pneumatic tools market owing to the demand for pneumatic tools in the manufacturing sector, particularly in the automotive, aerospace, and construction industries. The oil and gas industry in the United States and Canada relies on pneumatic tools for various applications, including drilling and maintenance. Ongoing construction and renovation projects fuel the demand for pneumatic tools in the region.
- Asia Pacific is expected to account for the largest share of the pneumatic tools market during the forecast period. Rapid industrialization in countries like China and India drives the demand for pneumatic tools in manufacturing, construction, and other sectors. Infrastructure projects, such as the construction of roads, bridges, and airports, create a significant market for pneumatic tools
Pneumatic Tools Market- Key Segments
Type
- Pneumatic Wrenches
- Pneumatic Sanders
- Pneumatic Hammers
- Pneumatic Drills
- Pneumatic Polishers
- Pneumatic Grinders
- Other Pneumatic Tools
Application
- Industrial
- Residential or Household
- Others
End-use Industry
- Automobile
- Textile
- Defence
- Mining
- Chemicals
- Manufacturing
- Mining
- Construction
- Electronics
- Telecommunications
Distribution Channel
- Direct
- Indirect
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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