Global Pneumatic Bolting Tools Market– Introduction
- 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.
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Global Pneumatic Bolting Tools Market– Dynamics
Key Drivers of the Pneumatic Bolting Tools Market
- Increasing automation across developed and developing countries is expected to drive the demand for pneumatic bolting tools.
- Growth in the automotive sector which has led to higher adoption of equipment is expected to propel the demand for pneumatic bolting tools during the forecast period.
- Rising energy needs across the world is also expected to fuel the market.
- Advanced tool technology for connecting bolts using pneumatic bolting tools has considerably decreased the number of workplace accidents as well as increased the efficiency and accuracy of fittings. This in turn 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 oil price stabilizing, 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.
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North America to Hold Significant Share of the Global Pneumatic Bolting Tools Market
- North America is projected to hold significant share of the pneumatic bolting tools market due to growth of the automotive sector. This is expected to increase the demand for pneumatic bolting tools.
- Expansion of the automobiles sector in Europe is projected to fuel the demand for pneumatic bolting tools in the region.
- The oil & gas industry in Middle East and Africa (MEA) is growing and the region is establishing new storage depots. This is likely to accelerate the demand for pneumatic bolting tools in the region.
- Electronics and automotive industries are booming in Asia Pacific due to easy availability of raw materials and cheap labor in the region. Growth of these industries will result in increased demand for pneumatic bolting tools in Asia Pacific.
Global Pneumatic Bolting Tools Market– Competitive Landscape
- Companies operating in the pneumatic bolting tools market are increasingly investing in research and development to develop new and innovative techniques to manufacture pneumatic bolting tools.
- Manufacturers are also focusing on offering highly efficient and reliable pneumatic bolting tools with advanced features to make them user friendly, and offer fast, precise, and safe torqueing applications.
- The pneumatic bolting tools market is extremely fragmented with the presence of numerous manufacturers in developed and developing regions. Furthermore, manufacturers are striving to gain competitive edge through increased product differentiation across the world.
Key Players Operating in the Global Market
The global pneumatic bolting tools market is highly concentrated with top manufacturers accounting for approximately 35%–40% of the market share. Key players operating in the global pneumatic bolting tools market include:
- Chicago Pneumatic
- Powermaster Engineers Pvt. Ltd.
- New World Technologies Inc.
- Baier Hydraulic Power (Wuhan) Co., Ltd.
- Atlas Copco
- Parla Tech Industrial Supply
- Torc Star
- TorcUP Inc.
- Hydratight Limited
- TRISTAR INTERNATIONAL
- Ultra Torq.
Global Pneumatic Bolting Tools Market– Research Scope
The global pneumatic bolting tools market can be segmented based on:
- Types of Bolt
- Distribution Channel
Global Pneumatic Bolting Tools Market, by Type
Based on type, the global pneumatic bolting tools market can be divided into:
Global Pneumatic Bolting Tools Market, by Tool
On the basis of tool, the global pneumatic bolting tools market can be segmented into:
- Tensioning tool
- Torque tool
Global Pneumatic Bolting Tools Market, by Types of Bolt
On the basis of types of bolt, the global pneumatic bolting tools market can be segmented into:
- Topside Bolt Tensioners
- Sub Sea Bolt Tensioners
- Wind Bolt Tensioners
Global Pneumatic Bolting Tools Market, by Distribution Channel
In terms of distribution channel, the global pneumatic bolting tools market can be bifurcated into:
- Direct Sales (OEM)
- Indirect sales
Global Pneumatic Bolting Tools Market, by Industry
In terms of industry, the global pneumatic bolting tools market can be classified into:
- Oil & Gas
- Off-Road Equipment
- Industrial & Others
Global Pneumatic Bolting Tools Market, by Region
Based on region, the global pneumatic bolting tools market can be categorized into:
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.