Pneumatic Tools Market is estimated to be valued at USD 793.6 million in 2021 and is poised to grow at a significant CAGR of 6.8% over 2022–2028. Because of its widespread application in end-user sectors and use in nearly every field, the pneumatic equipment market has grown substantially. The widespread use of pneumatics technology in packing machines to drive motion and actuate machine sequences has piqued machine designers’ and end-users interest in how pneumatics may increase safety and safe operating functionality in their equipment, promoting the market growth. The pneumatic tools market is predicted to grow due to rising consumer lifestyles that have changed dramatically and increased urbanization, which results in an increasing demand for metal forging and shaping in a variety of industries. A significant factor expected to drive the pneumatic tools market is the continual increase in demand from manufacturing industries due to the execution of small and large projects and to improve of the efficiency of various industrial projects worldwide. Automotive, aerospace, shipbuilding, and construction are just a few industries that use the equipment. With the continued 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 grow. Advances in lithium batteries, the growth of DIY hobbies, and smart and networked power tools are just a few of the important trends. In addition to industrial uses, pneumatic tools are becoming increasingly trendy for DIY and specialty tools.
Recent Market Developments:
In October 2019, Festo introduced two new product lines, the Simplified Motion Series and CPX-AP-I remote I/O. The Simplified Motion Series of these electric drives combines pneumatics with the benefits of electric automation. The Festo remote I/O system CPX-AP-I is designed to improve the performance of mixed valve terminals and I/O systems, which is compatible with most communication protocols, including EtherNet/IP, PROFINET, and EtherCAT.