COVID-19 IMPACT ANALYSIS ON GLOBAL AIR HAMMER MARKET
Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Air Hammer market, also this report includes COVID-19 impact analysis report. Also, analysis of changes on the global air hammer market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. For air hammer market, the market has been largely affected by the COVID pandemic, since it is highly used in the industries like manufacturing, mining and automotive etc., and due to lockdown imposed in various parts of the globe, these industries were highly affected and made adverse effect on the growth of air hammer market as well. In addition to that, construction industry largely contributes in the economic growth of a nation. Around USD 10 trillion is spent on construction related goods and services every year hence the demand of air hammers in the construction industry is also enormous, but during the course of COVID pandemic, this industry witnessed great loss and negatively impacted the sale of air hammer market as well.
MARKET OVERVIEW - GLOBAL AIR HAMMER MARKET
MARKET DRIVERS
The global Air Hammer market is driven by growth in manufacturing sector across the globe, where these hammers are widely demanded. In the countries like United States, Japan, Germany, Italy, and France owing to the technological advancements and skilled labour force the manufacturing sector is growing at a rapid pace, and in developing countries like India, China, etc., supported by the industrial policies and growing investment in infrastructure, the manufacturing sector is growing rapidly. Thus, wide use of air hammers in manufacturing sector owing to its cost effectiveness, less-maintenance, dependency, etc. is driving the market for air hammers.
MARKET OPPORTUNITIES
The market is expected to have new growth opportunity with increased investment in research and development activities to develop new and innovative techniques in various industries like automotive, aerospace, manufacturing, etc. so that these industries can grow rapidly which is creating a huge opportunity for the air hammer market to grow at faster rate.
MARKET RESTRAINTS
The market for air hammer market is growing at a rapid pace, but still the key reason which hampers the growth of this market is the ongoing trade war between US and China. The US administration enacted new tariffs on $200 billion worth of Chinese goods and China responded with tariffs on $60 billion of U.S. products, tools and household hardware, including air hammers are subject to higher prices, which has hampered the growth of market.
MARKET GROWTH CHALLENGES
The Covid-19 pandemic hampered the growth of market to major extent which has created a major challenges for the market growth. Also, during COVID pandemic, the supply chain got majorly disrupted which adversely affected the major industries like construction, manufacturing etc. and created a great challenge for the market for the air hammer market to grow further. However, recently, as the lockdown has been lifted up in almost every part of the globe and regulatory bodies across the world are actively focusing upon getting their economies back to track, it is expected that the market would grow further in coming years.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global Air Hammer market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The demand for air hammer is increasing as there has been growth in the manufacturing sector, which has the great utility of air hammer and the market is expected to witness the growth at a specific CAGR from 2022-2028.
AIR HAMMER MARKET SEGMENTAL OVERVIEW
The global Air Hammer market comprises of different market segment like function, distribution channel, speed, type, application and geography.
AIR HAMMER MARKET BY FUNCTION
By function, the Air Hammer market includes key segments
- Semi-Automatic
- Fully Automatic
Fully automatic air hammer function is expected to dominate the market over the forecast period. The key reason which is driving the market for fully automated air hammer is the less time consumption required for hammering, also skilled labour is not required to use it and hence it easy to operate. Moreover, it can be transported easily from one place to another since dismantling and assembling is simple, thus they are highly popular in the market.
AIR HAMMER MARKET BY DISTRIBUTION CHANNEL
The Air Hammer market on the basis of distribution channel is consisting of
- Direct Sales
- Indirect Sales
Indirect sales hold the major share in the market, since this channel include brick and mortar stores for buying pneumatic tools or heavy machineries. Also, customers usually prefer to buy from a brick-and-mortar store as consumers have specific preferences in these tools like air pressure, piston stroke, stoke speed and air inlet which is driving the market. On the another hand, as there is rise in internet use globally, it provides a great option for the consumer to buy heavy machinery equipment’s through the internet and customers are becoming more inclined to purchase their machinery and equipment’s online helping in the growth of direct sales segment.
AIR HAMMER MARKET BY SPEED
The Air Hammer market on the basis of speed includes
Lower BPM is expected to find increasing demand in the market over the forecast period. Since, a lower BPM air hammer is used for cutting heavy exhaust work, riveting, bushing driving and bolt shearing. It is basically used for day-to-day operation and are used in garages and repair shops for maintenance of vehicles and machines, which is driving the market for lower BPM. Also, use of higher BPM in construction industry to make holes in concrete to electrical panel is driving the market for higher BPM segment.
AIR HAMMER MARKET BY TYPE
The global Air Hammer market on the basis of type is studied for the following segments
- Rotary Air Hammer
- Forging Air Hammer
- Chipping Air Hammer
For air hammer market on the basis of type, chipping air hammer type is holding the lion’s share, since chipping hammer is a light, well-balanced tool ideal for surface dressing. Moreover, these are the top choice for light demolition work - including concrete and masonry removal –which requires a hard-hitting, well balanced tool. Pneumatic chipping hammers contain an air-operated piston that delivers successive blows to a chisel or forming tool at the end of the hammer and creating the demand for chipping air hammer. Apart from that, forging air hammer also hold significant share in the market.
AIR HAMMER MARKET BY APPLICATION
The global air hammer market is studied for the following applications
- Automobile
- Textile
- Aerospace & Defense
- Mining
- Chemicals
- Manufacturing
- Construction
- Electronics
- Telecommunications
For air hammer market, construction application is considered to be the major market, since construction industry is growing rapidly especially in developing countries such as India and China which are seeing infrastructure growth and there is movement of people from rural area to urban areas for work so the demand for housing is growing tremendously, and driving the demand for construction industry. Also, growing manufacturing industry across the globe occupies an important share in the market.
AIR HAMMER MARKET BY GEOGRPAHY
The global Air Hammer market is studied for the following regions
- North America
- Europe
- Asia-Pacific
- Rest of the World
For air hammer market on the basis of region, the market has been dominated by the Asia-Pacific region. The market in Asia-Pacific is propelling the growth due to factors like rapid industrialization. Besides, massive growth of automobile industry and emerging construction industry, growing urbanization across developing countries is expected to boost the air hammer market. Moreover, countries like China and India have been emerged as major manufacturing countries across the globe, creating the demand for air hammer market.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of air hammer market is majorly focused on expanding the global growth of air hammer with new product innovation, business expansion, increasing presence of range of manufacturer operating in air hammer market has led the growing demand for the market. Besides, the market offers range of products in different application to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- Robert Bosch (Germany)
- Trow and Holden (United States)
- Ingersoll Rand Inc (United States)
- Atlas Copco (Sweden)
- Unior (Slovenia)
- Chicago Pneumatic (United States)
- Metabo (Germany)
- Dewalt (United States)
- Makita Corporation (Japan)
- AIRCAT Pneumatic Tools (United States)
- BBG Baugeräte GmbH(Austria)
- Elliott tool technologies (United States)
- NPK Construction Equipment (United States)
- OLI SPA (Italy)
- TML Technik GmbH (Germany)
RECENT DEVELOPMENT:
May 2021: The INROCK who is a global leader in HDD performance drilling tools launched the new XTH air hammer which is designed for drilling with high rate of penetration and low air consumption in low fuel and without compromising with speed or power. The new XTH air hammer helps the clients of INROCK for rising their productivity by faster and effective drilling. It is primarily designed for providing drillers everything they require for getting their job done.
November 2019: The Foundation Hammers, LLC has introduced the new technology into the pile master air hammer line. It is primarily designed for the dock building industry. The Mike Robert states that “Many air hammers are very heavy, require a lot of air to operate and are not efficient”. The company designed the Pile Master hammer as a lightweight, require less air and able to produce up to 90% energy transfer with an air compressor as small as 185cfm.
