The demand for Pneumatic Tools is proliferating at a prominent rate due to its surging demand in the manufacturing & automotive industry and rising initiatives to boost infrastructural development activities. In addition, increasing adoption of pneumatic tools in industries such as construction, energy, aerospace, and others, launch of innovative energy efficient pneumatic power tools, along with burgeoning use for tools for household activities and various technological advancements in these tools are some of the factors propelling the growth of Global pneumatic market in the forecast period.
However, high cost of labor and lack of skilled labor in emerging countries such as India and Brazil, coupled with high prices of electric pneumatic tools are also key factor impeding the market growth.
According to MarkNtel Advisors’ research report “Global Pneumatic Tools Market Analysis, 2020”, the Global Pneumatic Tools market is anticipated to grow at a CAGR of around 5% during 2020-25. Based on mode of operation, Powered segment acquired the significant market share in the Global pneumatic tools market in 2019. The demand for wireless pneumatic tools is growing at a robust rate due to rising consumer inclination toward reliable and portable pneumatic tools which are easy-to use and have low prices along with long battery life.
“Global Pneumatic Tools Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Pneumatic Tools providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Acquired Significant Market Share
North America accounted for the considerable share of the global pneumatic tools market in 2019. The US dominated the North America segment on account of growth in manufacturing industry and investment and innovation in automotive and aerospace manufacturing industries. Besides this, Asia-Pacific is projected to grow at a steady rate owing to the factors such as burgeoning industrialization and urbanization, rising growth in sectors such as construction, oil & gas, and escalating number of Chinese players globally. Hence, this is anticipated to augment the growth of Pneumatic Tools market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Pneumatic Tools Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Pneumatic Tools market are Stanley Black & Decker, Bosch, Techtronic Industries (TTI), Makita, Hilti, Atlas Copco, APEX Tool Group, Ingersoll-Rand, Snap-On, Koki Holdings etc.
Key questions answered in the study