Global Power Hammer Sales Are Anticipated To Increase At A CAGR Of 5.2% To Reach US$ 1.33 Billion By The End Of 2032; States Fact.MR
Due To The Broad Use Of Power Hammers Across Industries, Such As The Automotive And Construction Sectors, The Power Tool Industry Is Expanding Rapidly, States Fact.MR
United States, Rockville MD, July 15, 2022 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider – The global power hammer market is set to reach a valuation of US$ 804.6 million in 2022 and further expand at a CAGR of 5.2% to end up at US$ 1.33 billion by 2032.
Consistent increase in demand for pneumatic hammers in manufacturing industries due to execution of small and large projects and to enhance the efficiency of a range of industrial projects across the globe is a major factor estimated to drive the pneumatic hammers market in the next few years. Tthe global Power hammer market is expected to reach US$ 1.33 Bn by the year 2032.
Forge welding procedures do involve usage of power hammers. The other usage is steel tool striking and rivet closure, apart from forging.
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Key Takeaways from Market Study
- In 2022, North America is expected to account for 26% of the global market share.
- Europe is likely to account for 21% of the global market share.
- The major sources of strength with regards to power hammers are self-contained power, utility value, and mechanical power.
- The use of power hammers in the automation sector is expanding rapidly. As a result, the market for power hammers in Europe has an opportunity to progress.
- Pneumatic hammers to be in great demand in the Asia-Pacific in wake of rapid industrialization
- Germany is known for its continuous product innovation in response to consumer demand. Power hammer demand will increase in a variety of industries.
- An air hammer or pneumatic hammer uses compressed air to chip or carve away materials such as stones, metals, and other items. To operate the piston on pneumatic hammers, they are typically connected through a pipe or tube to a sizable tank that pumps air into it.
“Multi-tasking and curtailing on downtime to increase inclination towards power hammers” says a Fact.MR analyst.
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Market Developments
“Key Market Players Concentrating on Changing Pricing Policy & Development of Technologies to Produce Improved Power Hammers”
The key participants are focusing on incorporation of new-fangled technologies to keep themselves afloat.
- Prada Nargesa creates all types of ornamental forging with its Drop Hammer 360 with an integrated compressor.
- Power hammers that don’t require machine adjustment have been developed by Anyang Hammers. These hammers guarantee effective forging and long life.
Key Segments Covered in Power Hammer Industry Research
- Power Hammer Market by Type :
- Pneumatic Power Hammers
- Hydraulic Power Hammers
- Mechanical Power Hammers
- Steam Power Hammers
- Power Hammer Market by Industry :
- Automotive
- Marine
- Metal Fabrication
- Others
- Power Hammer Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global power hammer market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by type (pneumatic power hammers, hydraulic power hammers, mechanical power hammers, and steam power hammers), by industry (automotive, marine, metal fabrication, and likewise), and by region (North America, LATAM, Europe, East Asia, South Asia & Oceania, and MEA).
Fact.MR’s Domain Knowledge in Industrial Goods
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial goods division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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