The pneumatic components and systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pneumatic Components And Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The pneumatic components and systems market size has grown strongly in recent years. It will grow from $13.39 billion in 2023 to $14.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to enhance safety features in pneumatic systems, continuous investment in R&D, low maintenance requirements, high durability of pneumatic components, and growth in renewable energy projects.
The pneumatic components and systems market size is expected to see strong growth in the next few years. It will grow to $18.48 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to need for predictive maintenance, wireless infrastructure, focus on developing eco-friendly and sustainable pneumatic components and systems, supportive government policies and initiatives, and focus on education and training in pneumatic technology. Major trends in the forecast period include cloud-based technologies for control of control of pneumatic systems, use of digital twin technology, adoption of 3D printing technology, development of hybrid systems, and use of data analytics.
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Scope Of Pneumatic Components And Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pneumatic Components And Systems Market Overview
Market Drivers –
The expansion of manufacturing industries is expected to propel the growth of the pneumatic components and systems market going forward. The expansion of manufacturing industries is attributed to the production of goods through the transformation of raw materials using machinery, labor, and technology. Pneumatic components and systems enhance manufacturing efficiency by automating processes, reliable performance, and reducing manual labor. These systems use compressed air to power a variety of machinery and tools, providing a cost-effective and efficient means of operation. For instance, in March 2022, according to the United Nations Industrial Development Organization (UNIDO), an Austria-based United Nations agency, global manufacturing production rebounded strongly in 2021, with a notable increase of 9.4% following a 4.2% decline in 2020 due to the pandemic. Therefore, the expansion of manufacturing industries is driving the growth of the pneumatic components and systems market.
Market Trends –
Major companies operating in the pneumatic components and systems market are introducing pressure control valves with enhanced precision and efficiency to meet industrial automation needs. Pressure control valves regulate or control the pressure of fluids (liquids or gases) within a system, ensuring optimal performance and safety in various industrial applications. For instance, in May 2024, Emerson, a US-based industrial machinery manufacturing company, launched AVENTICS Series 625 Sentronic electronic proportional pressure control valves. Emerson’s AVENTICS Series 625 Sentronic valves provide precise electronic control with less than 0.5% deviation, which is ideal for high-precision manufacturing such as flame cutting and laser surgery, enabling efficient pneumatic control from a portable computer.
The pneumatic components and systems market covered in this report is segmented –
1) By Type: Pneumatic Valve, Pneumatic Cylinder, Pneumatic Gripper, Pressure Sensor, Pressure Switch, Auxiliary Components, Other Types
2) By Capacity: Light Duty, Heavy Duty
3) By Application: Food And Beverage Industry, Packaging Industry, Automotive Industry, Heating, Ventilation, and Air Conditioning (HVAC), Automation And Manufacturing Industry, Medical And Pharmaceutical Industry, Oil And Gas Industry, Chemical Industry, Other Applications
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Regional Insights –
North America was the largest region in the pneumatic components and systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pneumatic components and systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the pneumatic components and systems market are Parker Hannifin Corporation, Emerson Electric Co., Freudenberg Group, Bosch Rexroth AG, SMC Corporation, Festo Inc., Trelleborg AB, IMI plc, Airtac International Group, CKD Corporation, Camozzi Automation Inc., Mac Valves Inc., Ross Controls, Humphrey Products, Versa Products Co. Inc., RS Components Limited, Bansbach Easylift GmbH, Nitta Corporation, Duncan Engineering Ltd, Mindman Industrial Co. Ltd., Metal Work S.p.a., Air Logic, Pneumax Limited, Seauto Seals Automoción SL, Janatics Industrial Automation Private Limited
Table of Contents
1. Executive Summary
2. Pneumatic Components And Systems Market Report Structure
3. Pneumatic Components And Systems Market Trends And Strategies
4. Pneumatic Components And Systems Market – Macro Economic Scenario
5. Pneumatic Components And Systems Market Size And Growth
…..
27. Pneumatic Components And Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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