Wilmington, Delaware , April 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Pneumatic Tools Market by Type (Rotary Tools, Percussion Tools, Continuous Flow Tools, and Others), Application (Commercial, Residential, and Others), and End-use (Manufacturing Industry, Automotive industry, Construction Industry, and Others): Global Opportunity Analysis and Industry Forecast 2023 to 2032”. According to the report, the global pneumatic tools market was valued at $10,199.7 million in 2022 and is projected to reach $24,338.5 million by 2032, registering a CAGR of 9.4% from 2023 to 2032.
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Prime determinants of growth
The pneumatic tools market has experienced significant growth driven by globalization of manufacturing and industrial processes which has led to an increase in the usage of pneumatic tools. As more parts of the world become industrialized, there is a greater demand for dependable and effective tools. Pneumatic tools have seen a considerable increase in usage across a wide range of end-use sectors, owing to their versatility, low cost, and high efficiency. In the production sector, particularly in the automotive and aerospace sectors, pneumatic tools are essential for assembly operations such as bolt tightening, drilling, and precision work. In construction, this equipment is essential for activities including framing, roofing, and concrete demolition, with pneumatic nail guns and jackhammers proving to be strong and dependable options. Pneumatic tools' accuracy in activities such as sanding, stapling, and joining improves overall efficiency in the woodworking industry.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size In 2022 | $10,199.7 Million |
| Market Size In 2032 | $24,338.5 Million |
| CAGR | 9.4% |
| No. Of Pages In Report | 290 |
| Segments Covered | Type, Application, And End-Use |
| Drivers | Rising Adoption Of Pneumatic Tools In End-Use Industries Increasing Demand For Cost-Effective, User-Friendly And Efficient Solutions Growing Construction Industry |
| Opportunities | Integration Of Smart Technology |
| Restraints | Installation Of Air-Producing Equipment |
The rotary tool segment to maintain its leadership status throughout the forecast period
Based on type, the rotary tool segment held the highest market share in 2022, accounting for nearly one-third of the pneumatic tools market revenue and is estimated to maintain its leadership status throughout the forecast period. The rising need for affordable, user-friendly, and efficient solutions has become a defining trend in a variety of industries. Businesses and consumers alike are looking for products and technologies that are not only cost-efficient but also easy to use and effective. This requirement in production is being satisfied by the increased use of pneumatic tools, which, owing to their dependency on compressed air, provide a cost-effective solution while assuring efficiency in activities ranging from assembly to precise work. The widespread use of pneumatic tools such as nail guns and jackhammers address the demand for user-friendly and efficient equipment in construction, with increasing productivity on job sites. Furthermore, sectors such as carpentry, mining, shipbuilding, textiles, and electronics are increasingly relying on pneumatic equipment to achieve the triple objectives of cost-effectiveness, usability, and efficiency. This trend demonstrates the general popularity of tools and technologies that prioritize simplicity of use and overall effectiveness and also lowering costs, reflecting a larger shift toward eliminated and practical solutions in modern industrial scene.
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The residential segment to maintain its leadership status throughout the forecast period
Based on Application, residential segment held the highest market share in 2022, accounting for nearly two-fifths of the pneumatic tools market revenue and is estimated to maintain its leadership status throughout the forecast period. The operational benefits and cost-effectiveness of user-friendly pneumatic tools, together with their increased lifespan and decreased maintenance requirements, make them great assets to businesses of all sizes. Moreover, pneumatic tools are crucial for assembly lines to run quickly and efficiently. It specializes in the repeated assembly of many items, including as vehicles and electronics, to ensure consistent quality and speedier manufacturing times. It includes air balancers and hoists, that are used to lift and move large goods. Their accuracy and simplicity of control increase operating efficiency while reducing physical strain on personnel. Pneumatic tools offer unprecedented accuracy and control, which is critical in industrial operations that demand accurate specifications and tight tolerances. Their adjustable power output guarantees that materials are handled sensitively as needed, saving waste and enhancing quality.
The manufacturing segment to maintain its leadership status throughout the forecast period
Based on End-Use, the manufacturing segment held the highest market share in 2022, accounting for more than one thirds of the pneumatic tools market revenue and is estimated to maintain its leadership status throughout the forecast period. Pneumatic tools are in high demand owing to increased demand in the industrial and automotive industries, and the expanding attempts to improve infrastructure development. Furthermore, increasing adoption of pneumatic tools in industries such as construction, energy, aerospace, and others, launch of innovative energy efficient pneumatic power tools, along with rising use of tools for household activities and various technological advancements in these tools are some of the factors propelling the growth of the global pneumatic market.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022 and is likely to dominate the market during the forecast period. The market's growth is being driven by the expanding industrialization and construction in the region. Furthermore, the power and energy, as well as the oil and gas sectors, are contributing to the market's expansion through industrialization. Key players in the global pneumatic tools market are considering the region as a promising zone to expand their business portfolios. However, the European and American regions, with their well-developed infrastructure, do not witness significant spending on construction. As a result, the market in these regions is expected to grow steadily. The objective of the report is to provide a comprehensive analysis of the Pneumatic Tools Market to industry stakeholders. It presents the past and current status of the industry, along with the forecasted market size and trends, using simple language to analyze complex data. The report covers all aspects of the industry and includes a dedicated study of market leaders, followers, and new entrants.
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Leading Market Players: -
- Atlas Copco
- Stanley Black & Decker, Inc.
- Makita Corporation
- Milwaukee Electric Tool Corporation
- Chicago Pneumatic Tool Company
- ATS ELGI Limited
- Pace Assembly Tools
- RalliWolf Industries Ltd.
- Torc Star Bolting Tools
- Texas Pneumatic Tools, Inc.
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting market growth.
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