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Pneumatic Conveying Systems Market Size, Share, Growth & Forecast 2024-2033 | Competitive Landscape
Pneumatic Conveying Systems Market Size
According to The Business Research Company's, The pneumatic conveying systems market size has grown strongly in recent years. It will grow from $30.56 billion in 2023 to $32.48 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increased emphasis on workplace safety, development of advanced sensing and monitoring systems, integration of industry 4.0 principles, increased production of biosimilars and vaccines in developing nations, and increased production in the food industry.
The pneumatic conveying systems market size is expected to see strong growth in the next few years. It will grow to $42.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to a rise in automation, rise in industrialization, expansion of recycling and waste treatment industries, upswing in the demand for energy-efficient systems, and rising concerns related to the health and safety of consumers. Major trends in the forecast period include product innovation, technological advancements, utilization of product development software, strategic partnership, and technological advancements in manufacturing processes.
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Market Drivers and Trends:
Increasing automation is expected to propel the growth of the pneumatic conveying systems market going forward. Automation is the technique of making an apparatus, process, or system operate automatically using mechanical or electronic devices that replace human labor. The rise in automation is driven by advancements in technology aiming to streamline processes, increase efficiency, and reduce labor costs. In automated processes, where consistent and accurate material transportation is essential, pneumatic conveying systems provide precise control over material movement. Pneumatic conveying systems automate the movement of bulk items from one area to another, eliminating the need for personal intervention. For instance, in September 2022, according to a report published by the International Federation of Robotics, a Germany-based non-profit organization, companies worldwide installed 517,385 new industrial robots in 2021, with Asia accounting for 74% of these installations. Notably, China, the region's largest adopter, experienced a substantial 51% increase in installations, reaching 268,195 units sold. Therefore, increasing automation is driving the growth of the pneumatic conveying systems market.
Major companies operating in the pneumatic conveying systems market are developing innovative products, such as vacuum conveyors, to better serve customers with advanced features. Vacuum conveyors are a type of pneumatic conveyor that utilizes a pressure differential to move materials from one end to the next. For instance, in November 2021, Piab Group, a Sweden-based provider of pneumatic conveying systems, launched the piFLOWam vacuum conveyor, a compact vacuum conveyor specifically tailored to meet the demands of OEMs operating within the additive manufacturing sector. Its small and efficient design incorporates Piab's advanced COAX vacuum technology alongside a resilient butterfly valve. This valve, impervious to pressure fluctuations, securely retains material batches without requiring pump attachment. This unit offers simplicity in operation and effortless compatibility with various 3D printers, sieves, hoppers, and other intermediate vessels. The piFLOWam stands as a versatile solution for additive manufacturing processes, controlled by either pneumatic or electrical units.
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Major Key Players of the Market:
AZO Inc., Atlas Copco Group, Palamatic Process Inc., Hatch Ltd., Hillenbrand Inc., Coperion GmbH, Schenck Process Holding GmbH, Nilfisk Group, Materials Handling Systems Inc., DongYang P&F Co. Ltd., Piab Group, Gericke AG, Flexicon Corporation, Dynamic Air Inc., Cyclonaire Corporation, Delfinvacuums, UniTrak Corporation, Volkmann Inc., Macawber Engineering Inc., VAC-U-MAX Co, Precision Airconvey Corp., Nol-Tec Systems Inc., Indpro Engineering Systems Pvt. Ltd., M&G Millwrights Ltd., Spiroflow Systems Inc., Pneumatic Conveying Inc., Whirl-Air-Flow, Streamtek Corp., IEDCO (Industrial Equipment & Design Company), Impco Products LLC
Pneumatic Conveying Systems Market 2024 Key Insights:
• The pneumatic conveying systems market size is expected to see strong growth in the next few years. It will grow to $42.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Increasing Automation Drives Growth In The Pneumatic Conveying System Market
• Innovative Vacuum Conveyors Revolutionize The Pneumatic Conveying Systems Market
• Europe was the largest region in the pneumatic conveying systems market in 2023
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