Press release
Pneumatic Tools for Construction Market Report Analysis 2023-2032: Growth Rate, Market Players.
The global pneumatic tools market reached $10,199.7 million in 2022 and is anticipated to grow to $24,338.5 million by 2032, with a CAGR of 9.4% from 2023 to 2032.
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Key Growth Drivers:
The surge in global manufacturing and industrialization has fueled the demand for pneumatic tools. Their adaptability, cost-effectiveness, and efficiency have made them indispensable across various sectors. From automotive and aerospace assembly operations to construction tasks like framing and concrete demolition, pneumatic tools have proven their worth. Moreover, their precision in woodworking activities like sanding and stapling enhances productivity.
Report Insights:
Forecast Period: 2023-2032
Base Year: 2022
Market Size:
2022: $10,199.7 Million
2032: $24,338.5 Million
CAGR: 9.4%
Pages: 290
Segments: Type, Application, End-Use
Drivers:
Rising adoption in industries
Demand for cost-effective solutions
Growing construction industry
Opportunities: Smart technology integration
Restraints: Air-producing equipment installation
Segment Insights:
Rotary Tool Segment:
Held the highest market share in 2022
Estimated to lead through the forecast period
Responds to the demand for affordable and efficient solutions across industries
Residential Segment:
Dominated in 2022 with nearly two-fifths of the market share
Continues its leadership with benefits like cost-effectiveness and reduced maintenance
Manufacturing Segment:
Held over one-third of the market share in 2022
Expected to maintain its lead, supported by industrial and automotive demand
Regional Analysis:
North America led the market in 2022 and is projected to maintain its dominance through 2032. The region's growth is attributed to industrialization, construction, and sectors like power, energy, and oil & gas. Key global players are eyeing North America for business expansion, though steady growth is also expected in European and American markets due to their established infrastructure.
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Key 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
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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