Pneumatic Components Market Overview:
In 2022, the pneumatic components market was estimated to be worth USD 12.8 billion. Over the course of the projection period (2023 - 2032), the market for pneumatic components is expected to rise at a compound annual growth rate (CAGR) of 5.00%, from USD 13.4 billion in 2023 to USD 19.9 billion by 2032.
Hence this process improves the reliability and service life of components and systems. For controlling the pressure, direction, and speed of actuators, different valves are used in pneumatic systems. The most commonly used air in pneumatic systems is compressed biometrical air which is low cost and plentiful.
Growing demand for food safety in the food & beverage industry is propelling the demand for pneumatic components. The pneumatic components are rising its demand due to several factors like preventing food contamination, adoption of robotics technology, rising usage of pneumatic actuators as control valves in the automation industry, increasing awareness towards predictive maintenance.
These components have several benefits like cost-effectiveness, can be stored, simplicity in using, being easy to set up the power and speed transfer, easy channeled, and non-hazardous nature which are accelerating the demand for pneumatic components. The demand for pneumatic components is highly increasing and becoming increasingly functional and commercial with the rising adoption of the Industrial Internet of Things (IIoT), providing higher insights into machine operation and device performance for its capabilities in tracking and measurement.
The Pneumatic Components market opportunities are the introduction of artificial intelligence coupled with increasing research activities are escalating the growth of the market. As the Asia-Pacific region becomes a global manufacturing hub for electronics and medical supplies, most of the major companies set up high-volume production facilities. Moreover, in emerging countries, the demand for pneumatic components is increased from industry and machinery.
Pneumatic Components Companies
- Bosch Rexroth AG
- Festo SE & Co. KG
- SMC Corporation
- Norgren, Inc. (IMI, PIC)
- Airtac International Group
- Ckd Corp.
- JELPC (Ningbo Jiaerling Pneumatic Machinery Co., Ltd.)
- Parker Hannifin Corporation
- Fenghua Yaguang Pneumatic Element Co, Ltd.
- Camozzi Group
- Zhaoqing Fangda pneumatic Co. Ltd.
- Wuxi Huatong Pneumatic Manufacture Co. Ltd.
- CNSNS
- Easun Pneumatic Science
Market Segmentation
By the recent research, the pneumatic components market analysis is analyzed into type and application.
Type Segmentation: The pneumatic components types are air treatment components, pneumatic valves, and pneumatic cylinders.
Application Segmentation: The pneumatic components applications are electronics, chemical industry, machinery, and others.
Regional Analysis
According to the pneumatic components market share and other aspects, the regional market is categorized into four major regions like Asia-Pacific, Europe, North America, and the Rest of the World. Among them, Asia-Pacific holds the largest market share due to the rising efforts and investments by the manufacturers for developing electronics and the usage of these components in major applications. Furthermore, the government focusing on infrastructural development which propels the market growth in this region. Europe holds the second-largest position in the market for its growing demand for pneumatic components in the chemical industry, machinery, electronics, and others.
The prominent key players of the pneumatic components are Wuxi Huatong Pneumatic Manufacture Co.Ltd, Easun Pneumatic Science & Technology, SMC Corporation, Bosch Rexroth AG, and others.
Industry News
Based on the latest updates, the pneumatic components market forecast states that this sector will gain immense growth due to the new product launches, mergers, acquisitions, and expansions in the industry products. The most popular enterprisers Satair and Honeywell collaborated with an agreement to expand their businesses in the jet market. This agreement covers exclusive distribution globally for mechanical and air thermal components for Airbus A320, A330, A340, and A380 aircraft.
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