Pneumatic tools are widely used and developed worldwide

Pneumatic tools are widely used and developed worldwide

The first appearance of pneumatic tools in the world dates back to the 19th century. In 1829, Britain produced the world's first multi-stage, which laid the foundation for the practical application of pneumatic tool products. In 1844, the first pneumatic rock drill appeared in the world, and the pneumatic pick was used in 1871. With the development of weapons, machinery, and other industries, pneumatic tools have been widely used and developed.

1. The global pneumatic tool market is growing steadily

After years of development, with the continuous development of the downstream demand market for pneumatic tools, the scale of application of pneumatic tools in the automotive industry, manufacturing industry and various construction industries continues to increase. In addition to applications in the industrial field, pneumatic tools are increasingly sought after in the DIY tools and special tools fields.

In recent years, the global power tool market demand has continued to increase, and the market size of electric tools and pneumatic tools has shown a growth trend. According to data from Grand view Research, from 2016 to 2019, the global power tool market has increased year by year. In 2020, due to the impact of the new crown pneumonia epidemic, Grand view Research expects the global power tool market to decline.

Statistics from the research organization Technavio show that electric tools account for about 73% of the global power tool market, and pneumatic tools account for about 16%. Based on this calculation, in 2019, the global pneumatic tool market will be about 36 billion U.S. dollars. In 2020, affected by the new crown epidemic, the global pneumatic tool market will decline slightly to 35.7 billion U.S. dollars.

2. Three submarkets in Asia Pacific, Europe and North America

According to Technavio research data, the Asia-Pacific region accounted for 36% of the pneumatic tools market in 2019 and has become the world's largest pneumatic tools market. Due to the vigorous development of the automobile industry in countries (regions) such as India and China, the compound annual growth rate of the region is expected to be the highest during the forecast period. The increase in disposable income and the increase in construction and infrastructure development activities are the main factors affecting the growth of the regional market.

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

North America is an important component of the pneumatic tools market, and its revenue share in 2019 was 27.3%. The growing infrastructure development and industrial development in the region are driving the demand for power tools.

In addition, the addition of major players such as Stanley Black and Decker, Emerson Electric Co. and Apex Tool Group also contributed to the region's power tool industry revenue share. In addition, the extensive use of DIY pneumatic tools in North America has reduced labor costs and promoted 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, and the overall development is relatively mature. The wide range of pneumatic tool products and the ever-expanding range of applications have laid a good foundation for the development of pneumatic tools in Europe. Basically, in recent years, the size of the European pneumatic tool market has maintained steady growth. Combining the size of the European power tool market surveyed by Grand view Research and Technavio's survey of the power tool market structure in the European market, in 2019, the European pneumatic tool market will be about For 9 billion U.S. dollars. In 2020, affected by the new crown pneumonia epidemic, the size of the European pneumatic tools market has fallen to US$8.8 billion.

Compared with Europe and the United States, the Asia-Pacific region has a late start in the development of pneumatic tools. However, in recent years, with the rapid increase in demand in emerging markets such as China and India, the pneumatic tool market in the Asia-Pacific region has gradually replaced the European and American markets and has become the world's largest The pneumatic tools market.

Combining the scale of the power tool market in the Asia-Pacific region surveyed by Grand view Research and Technavio's research on the power tool market structure in the Asia-Pacific region, in 2019, the size of the pneumatic tool market in the Asia-Pacific region is approximately US$12.6 billion. In 2020, affected by the new crown pneumonia epidemic, the size of the pneumatic tool market in the Asia-Pacific region has fallen to US$12.5 billion.

3. High market concentration in the global pneumatic tool industry

Pneumatic tools originated in Western countries. Leading hardware tool companies in Europe and North America have a long history of development. They have obvious advantages in the field of pneumatic tools. Leading companies continue to expand their markets with their advantages in technology research and development and large-scale production, and their market share continues to increase. At present, Stanley Black & Decker, Atlas Copco and other hardware tool companies occupy a large share of the global pneumatic tool market.

According to statistics from Market Watch, a market research organization, the global pneumatic tool industry is currently relatively concentrated. In 2019, the total market share of the top five global pneumatic tool companies accounted for 60.62%.

The above data and analysis are from the "China Pneumatic Tool Industry Market Outlook and Investment Strategic Planning Analysis Report" by the Qianzhan Industry Research Institute. At the same time, the Qianzhan Industry Research Institute provides industrial big data, industrial planning, industrial declaration, industrial park planning, industrial investment promotion, Solutions for IPO fundraising feasibility studies and prospectus writing.