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Pneumatic Cylinder Market 2021 to 2030: Comprehensive Analysis, Development Strategy, Future Plans and Industry Growth with a CAGR of 5.8%
Pneumatic Cylinder Market
The global pneumatic cylinder market is experiencing significant growth, driven by increased demand from the manufacturing sector, particularly in the automobile and aerospace industries, as well as a rise in construction activities. The trend towards automation and advancements in space technology further contribute to expanding opportunities in the market.
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Market Outlook:
The linear segment, which dominated the market in 2020 with more than half of the global market share, is expected to maintain its leadership position throughout the forecast period. This is primarily due to the development of new product offerings to meet evolving industry needs. Additionally, the linear segment is projected to exhibit the highest compound annual growth rate (CAGR) of 6.0% from 2021 to 2030, while the rotary segment is forecasted to have a CAGR of 5.5% during the same period.
In terms of end-use industries, the oil & gas segment led the market in 2020, contributing around one-fourth of the global pneumatic cylinder market. It is anticipated to continue its dominance during the forecast period, driven by factors such as population growth and increased industrialization. The automotive segment is expected to witness the largest CAGR of 9.2% from 2021 to 2030, fueled by the demand for cost-effective and efficient automobile manufacturing processes, which have led to greater utilization of robotic automation.
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Regionally, North America emerged as the dominant market in 2020, accounting for over one-third of the global market revenue. This is attributed to the presence of large oil and gas industries, particularly in the United States and Canada, driving demand for pneumatic cylinders. However, the Asia-Pacific region is expected to experience the fastest CAGR of 7.0% during the forecast period, driven by its large population and thriving low-cost manufacturing sector.
Leading Market Players:-
Airtac International Group
Camozzi Group S.P.A.
DL Pneumatics
Emerson Electric Co.
Festo SE & Co. KG
ABB Ltd.
Honeywell International INC.
Parker Hannifin Corporation
Eaton Corporation PLC
Rotex Automation.
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