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Pneumatic Bolting Tools Market - Global Opportunity Analysis and Industry Forecast, 2020 –2027
| A08090 | Pages: NA | Jun 2021 | 127 Views | | |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
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A pneumatic bolting tool is a gearbox or planetary torque multiplier that is joined to a pneumatic air motor and has high reduction ratio. It is used to absorb the torque which is adjusted by controlling air pressure, so as to allow the tool operator to use it with little effort. Pneumatic bolting tools are compact, convenient, accurate, and easy to use. They also reduce the overall operation time and ensure safe operations. These tools are durable enough to hold out harsh on site conditions mainly in power generation, oil & gas, and mining industries. Pneumatic bolting tools deliver consistent high speed rotations for continuous torque output during high torque bolting applications. Pneumatic bolting tools also provide a safe work environment and leak-free installation as they reduce spills and leaks from the flanges. From increased power potential to the stability of a well-maintained compressor system, air-powered tools are a reliable way to get work done. The biggest advantages of air powered tools for the industrial market is the dependability of continuous use — less breakage and maintenance mean less downtime.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (US$ Millions) |
Segments covered | Type, Bolt Types, End-user industry, and Region |
Geographies covered | North America (US and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, and the Rest of Asia Pacific), LAMEA (Latin America, Middle East, and Africa) |
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Covid -19 impact on industry -
COVID-19 pandemic has shut-down the production of various products in the pneumatic bolting tools industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of pneumatic bolting tools market significantly from last few months, as is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The main purpose of this pneumatic bolting tools is absorption of torque and controlling air pressure and its high demand is the reason that act as its driving factor.
Increasing automation across developed and developing countries
Increasing automation across developed and developing countries is expected to drive the demand for pneumatic bolting tools as it seems to be one of the leading factors for increasing growth of market Growth in the automotive sector which has led to higher usage of equipment is expected to increase the demand for pneumatic bolting tools during the forecast period as automotive sector being Rising energy needs across the world is also expected to fuel the market.
Number of workplace accidents have decreased
Advanced tool technology for connecting bolts using pneumatic bolting tools has most probably decreased the number of accidents that happens on workplace as well as increased the efficiency and accuracy of fittings. For this reason it is an important factor driving the pneumatic bolting tool market. Pneumatic bolting tools are commonly used for fitting bolts and flanges on both offshore and onshore operations in the oil & gas industry. In addition, with stabilization of oil price , the oil & gas market has experienced stable growth over the last couple of years. This in turn is expected to enhance the demand for pneumatic bolting tools across the oil & gas industry.
Key segments covered:
Segments | Sub-segments |
type |
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Types of bolt |
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End User industry |
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Key benefits of the report:
- This study presents the analytical depiction of the as pneumatic bolting tools market along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the pneumatic bolting tools market share.
- The current market is quantitatively analyzed from 2020 to 2027 to pneumatic bolting tools market growth scenario.
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