The power tool sector is experiencing growth owing to its widespread use across industries, particularly in the automotive and construction industries. The domination of power tools in the market translates to high demand for power hammer in numerous industries, thanks to technological breakthroughs and the development of new power tools. Power hammer is used extensively in industrial open die forging. Power hammer demand is expected to experience growth in the future as the global forging sector expands across many industries, particularly capital-intensive industries like automotive, aerospace, factory automation, and military. Higher efficiency, higher strength, higher striking rate, and high operation and production rate are some of the key qualities of the power hammer.
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the Pneumatic hammers industry attributed to the lockdown in countries worldwide. This has hampered the growth of Pneumatic hammers market from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of Pneumatic hammers in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for Pneumatic hammers was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for Pneumatic hammers.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Pneumatic hammers manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
- Pneumatic hammers manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Power hammer is used for heavy industrial forging by blacksmiths, bladesmiths, metalworkers, and various manufacturers. The industries produce demand-specific power hammers that are low cost, compact, easy to operate, and power efficient, with applications ranging from general to heavy forging. The pneumatic hammer industry is highly fragmented, with various manufacturers operating in both developed and developing countries. Furthermore, firms all around the world are attempting to acquire a competitive advantage by increasing product differentiation. In the future years, the surge in industrial sector is predicted to feed need for metal forging machines and equipment, which is anticipated to drive the need for power hammer.
Execution of small and large projects in coming years
A significant factor expected to drive the pneumatic hammers market in the coming years is an increase in demand for pneumatic hammers in manufacturing industries due to the execution of small and large projects and to improve the efficiency of a variety of industrial projects around the world. Manufacturing companies employ pneumatic hammers because they are highly efficient, reliable, cost-effective, and require little maintenance due to their easy functioning. Pneumatic hammers are in high demand all around the world as a result of this characteristic.
Surge in urbanization across developing countries
The pneumatic hammers market is anticipated to grow in the developing nations of Asia-Pacific, the Middle East and Africa, and South America attributed to metal forging and metal shaping applications in various sectors. There is an increased demand for pneumatic hammers in manufacturing industries and building activities in the region, which boosts the market growth.
Key benefits of the report:
- This study presents the analytical depiction of the global Pneumatic hammers industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Pneumatic hammers market share.
- The current market is quantitatively analyzed to highlight the global Pneumatic hammers market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global Pneumatic hammers market analysis based on competitive intensity and how the competition will take shape in coming years.
Pneumatic Hammers Market Report Highlights
Key Market Players
OLI SpA, AIRCAT Pneumatic Tools, Ingersoll-Rand plc, Robert Bosch GmbH, Atlas Copco (India) Ltd., Chicago Pneumatic, NPK Construction Equipment, Inc., Unior, TML Technik GmbH, Trow & Holden Company