January 27, 2021
According to the research report titled ‘Global Pneumatic Tools Market Analysis, 2020’, available with Market Study Report, global pneumatic tools market is predicted to record 4.5% CAGR during 2020-2025.
Growing acceptance in DIY techniques across households, rising disposable income of the customers, and mounting expenditure by the government towards infrastructural development are driving global pneumatic tools market growth. In addition, introduction of several innovative tools like drill machines and cordless saws, along with technological advancement, and soaring demand for tools in industrial and construction sector are adding to the overall market outlook.
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For those unversed, pneumatic tools are power-driven machines powered by compressed air provided by an air compressor.
Apart from expounding the key growth drivers, the global pneumatic tools market assessment highlights critical information concerning the challenges and opportunities in this business domain. It also contains a comparative study of the past records and the current market trends to derive the growth rate of this business sphere over 2020-2025.
Based on type, global pneumatic tools industry is segmented into routing tools, material removal tools, sawing & cutting tools, demolition tools, drilling & fastening tools, and others. Speaking of end user scope, the market is divided into non-residential, and residential. The non-residential segment held majority market share in 2019, creditable to burgeoning product demand in the sectors including aerospace, oil & gas, and automotive, in consort with booming construction activities in the emerging economies.
On the other hand, residential segment is projected to grow substantially over the coming years, on account of surging demand for pneumatic tools for DIY technique and household activities by the customers.
With respect to mode of operation, the industry is classified into pneumatic, powered (wired and wireless), and others.
Considering the geographical landscape, worldwide pneumatic tools market is segmented into South America, North America, Europe, Middle East & Africa, and Asia-Pacific. The country-level fragmentation consists of Germany, Argentina, Mexico, United Kingdom, United States, Canada, Brazil, France, Italy, Australia, South Africa, South Korea, Japan, China, and India among others.
The competitive landscape of global pneumatic tools market is defined by Koki Holdings Co. Ltd., Snap-On Incorporated, Ingersoll-Rand Inc., APEX Tool Group, Atlas Copco, Hilti Corp., Makita Corp., Techtronic Industries (TTI), Robert Bosch GmbH, and Stanley Black & Decker Inc.