Press release
Rising Commercial Vehicle Production Fuels Expansion Of The Smart Pneumatics Market: Key Factor Driving The Growth In The Smart Pneumatics Market
Smart Pneumatics
What Is the Expected Smart Pneumatics Market Size During the Forecast Period?
The size of the smart pneumatics market has seen substantial growth recently. The market value will expand from $4.67 billion in 2024 to $4.96 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.3%. Key drivers for the growth in the past period include heightened demand for industrial automation, energy efficiency, predictive maintenance, cost-effective solutions, and the growing popularity of digital twins.
The size of the smart pneumatics market is anticipated to witness significant expansion in the forthcoming years, reaching a value of $6.4 billion by 2029, with a compound annual growth rate (CAGR) of 6.6%. This expected growth during the forecast period is due to factors such as escalating healthcare expenses, increase in the elderly population, expansion of healthcare infrastructure, and their precision and durability. Key trends during the forecast period encompass the incorporation of artificial intelligence (AI), integration of edge computing, adoption of cloud-based solutions, implementation of cybersecurity protocols, and the use of predictive diagnostics and health monitoring.
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What Are the High-Growth Segments in the Smart Pneumatics Market?
The smart pneumatics market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Distribution Channel: Direct, Indirect
3) By Industry: Oil And Gas, Energy And Power, Water And Wastewater, Automotive, Semiconductor, Food And Beverage
Subsegments:
1) By Hardware: Pneumatic Cylinders, Sensors And Actuators, Valves, Compressors, Connectors And Fittings
2) By Software: Control Software, Monitoring Software, Analytics Software, Simulation Software
3) By Services: Maintenance And Support Services, Installation And Commissioning Services, Consulting Services, Training Services
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What Key Drivers Are Expected to Influence Future Smart Pneumatics Market Growth?
The smart pneumatics market is anticipated to expand due to the escalated production of commercial vehicles. These vehicles, which are primarily purposed for goods or materials transportation rather than passenger conveyance, employ smart pneumatics in their braking, suspension and gearbox systems. Such applications critically contribute to predictive maintenance, monitoring, and enhancement of overall equipment efficiency. For example, the Society of Motor Manufacturers and Traders (SMMT), a trade association based in the UK, reported in September 2024 that there was a 5.8% increase in commercial vehicle production from 74,505 units in 2023 to 78,805 units in 2024. As such, the growth of the smart pneumatics market is driven by this surge in commercial vehicle production.
Which Companies Hold the Largest Share Across Different Smart Pneumatics Market Segments?
Major companies operating in the smart pneumatics market include Cypress Envirosystems Inc., Siemens AG, Schneider Electric SE, Honeywell International Inc., Mitsubishi Heavy Industries Ltd., ABB Ltd., Eaton Corporation plc, Emerson Electric Co., Parker Hannifin Corporation, Rockwell Automation Inc., Bosch Rexroth AG, SMC Corporation, Festo Inc., IMI Precision Engineering Ltd., SICK AG, AirTAC International Group, Rotork plc, Camozzi Automation Spa, Ham-Let Group, CKD Corporation, Basso Industry Corp, Norgren Inc., Thomson Industries Inc., Clippard Instrument Laboratory Inc., Bimba Manufacturing Company, Advanced Pneumatics Inc.
What Trends Are Driving Growth in The Smart Pneumatics Market?
Leading firms in the smart pneumatics market are pioneering novel products like electric and pneumatic automation platforms to maximize efficiency, control, and functionality in automated processes. These platforms combine electric and pneumatic components to provide superior flexibility and accuracy in industrial automation practices, enhancing total productivity and system surveillance. For example, in September 2023, the German automation firm Festo unveiled the CPX-AP-A. This is an electric and pneumatic automation platform that functions as a core communication interface for data sharing and simplifying system construction. It's a distributed input/output (I/O) solution tailor-made to optimize flexibility and performance in automation by harnessing the benefits of both electric and pneumatic technologies.
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What Are the Emerging Geographies for The Smart Pneumatics Market Growth?
Asia-Pacific was the largest region in the smart pneumatics market in 2024 and is expected to be the fastest-growing region in the smart pneumatics market report forecast period. The regions covered in the smart pneumatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Pneumatics Market?
2. What is the CAGR expected in the Smart Pneumatics Market?
3. What Are the Key Innovations Transforming the Smart Pneumatics Industry?
4. Which Region Is Leading the Smart Pneumatics Market?
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