How To Position The New Market Of Pneumatic Tools?

After years of development, with the continuous development of the downstream demand market of pneumatic tools, the application scale of pneumatic tools in the automotive industry, manufacturing industry and various construction industries has been continuously improved. In addition to industrial applications, pneumatic tools are more and more popular in DIY tools and special tools.

Steady growth of global market

In recent years, the global power tool market demand continues to rise, in which the market scale of electric tools and pneumatic tools show a growth trend. Novel coronavirus pneumonia market is increasing in 2016-2019 years. In 2020, due to the impact of the new crown pneumonia epidemic, Grand view Research predicted that the global market of electric tools would decline in 2020, according to Grand Research.

According to the statistics of the Research Institute technavio, at present, electric tools account for about 73% of the global power tool market, and pneumatic tools account for about 16%. Foresight Industry Research Institute estimates that in 2019, the scale of the global pneumatic tool market was about $36 billion. In 2020, by the influence of COVID-19, the scale of the global pneumatic tool market dropped to 35 billion 700 million US dollars.

Asia Pacific, Europe and North America three market segments

According to the survey data of technavio, the Asia Pacific region has occupied 36% of the market share of pneumatic tools in 2019, and has become the largest pneumatic tool market in the world. Due to the booming auto industry in India, China and other countries (regions), the compound annual growth rate in the region is expected to be the highest in the forecast period. The increase of disposable income and construction and infrastructure development activities are the main factors affecting the regional market growth.

In addition, the European market is mainly dominated by Germany and the United Kingdom. It is expected that Europe will achieve healthy growth under the leadership of Germany and the United Kingdom, and the emergence of manufacturing plants and production plants in many EU countries (regions) is also driving the market growth.

North America is an important component of the pneumatic tools market, with a revenue share of 27.3% in 2019. The growing infrastructure development and industrial development in the region are driving the demand for power tools. The participation of key players such as Stanley black and Decker, Emerson Electric Co. and apex tool group also contributed to the revenue share of the power tools industry in the region. In addition, DIY pneumatic tools are widely used in North America, which reduces labor expenditure and promotes regional growth.

As the first region in the world to study pneumatic tools, Europe has a long history of development in the field of pneumatic tools. Its overall development is relatively mature. A wide range of pneumatic tool products and expanding application range lay a good foundation for the development of pneumatic tools in Europe. In recent years, the scale of European pneumatic tool market has maintained a steady growth, Combined with the European power tool market scale of grand view research and the research on the European power tool market structure of technavio, it is estimated that the European pneumatic tool market scale will be about 9 billion US dollars in 2019. In 2020, novel coronavirus pneumonia affected the European market for pneumatic tools to $8 billion 800 million.

Compared with Europe and the United States, the development of pneumatic tools in the Asia Pacific region started relatively late. However, in recent years, with the rapid increase of demand in emerging markets such as China and India, the market scale of pneumatic tools in the Asia Pacific region has gradually replaced that in Europe and the United States, becoming the largest pneumatic tool market in the world.