Press release
Global Pneumatic Components and Systems Market to Reach USD 20.9 Billion by 2030, Driven by 6.8% CAGR
Market Overview:
The global pneumatic components and systems market, valued at USD 13,714.32 million in 2022, is projected to reach USD 20,918.87 million by 2030, with an anticipated Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period from 2023 to 2030. The report identifies "Pneumatic Drill" as the dominant product type in the market, owing to its high demand and wide-ranging applications.
Key Market Dynamics:
Increasing Demand for Automation: Across various industries such as manufacturing, automotive, packaging, and pharmaceuticals, there's a rising demand for automation. Pneumatic components like cylinders, actuators, and valves play a crucial role in automating tasks due to their reliability, simplicity, and cost-effectiveness.
Energy-Efficient Manufacturing Processes: With a global focus on energy efficiency to reduce environmental impact and operational costs, pneumatic systems are evolving to incorporate advanced technologies such as energy-efficient valves and regulators, thereby making them more sustainable.
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Opportunities:
Growth in Emerging Markets: Emerging markets like China, India, and Southeast Asian countries are witnessing rapid industrialization, leading to increased demand for pneumatic components and systems. The burgeoning infrastructure and manufacturing capabilities in these regions are driving the need for reliable automation solutions.
Customization and Innovation: Manufacturers are seeking pneumatic solutions tailored to their specific needs. Customization and innovation in pneumatic components, such as the development of compact and lightweight options, are fostering market growth and enabling more flexible system design.
Regional Analysis:
North America: Dominates the global market due to its strong automotive facilities and the presence of major industry players.
Asia-Pacific: Expected to witness significant growth, emerging as the fastest-growing region during the forecast period. Factors such as government initiatives, growing automotive facilities, and the availability of untapped markets contribute to this growth.
Key Players:
The report profiles leading companies operating in the global pneumatic components and systems market, including Bosch Rexroth AG, Parker Hannifin Corp., Festo Group, SMC Corporation, and others. Details such as financials, business strategies, key competitors, and recent developments provide valuable insights into these market players.
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The major companies which are dealing in the Pneumatic Components and Systems Market
Bosch Rexroth AG (Germany)
Parker Hannifin Corp. (U.S.)
Festo Group (Germany)
SMC Corporation (Japan)
Airtac International Group (Taiwan)
Janatics. (India), Rotork (U.K.)
Pneumadyne (U.S.)
RS Components L & Controls (I) Ltd. (U.K.)
Aignep s.p.a. (Italy)
Versa Products Company Inc. (U.S.)
ROSS CONTROLS. (U.S.)
macvalves inc. (U.S.)
The Bimba (U.S.)
Emerson Electric Co. (U.S.)
Thomson Industries, Inc. (U.S.)
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