Global Pneumatic Components Market

Pneumatic Components Market Size, Share, Growth Analysis, By Type(Air Treatment Components, Pneumatic Valves, and Pneumatic Cylinders), By Application(Electronics, Chemicals, Machinery, and Others), By Region - Industry Forecast 2025-2032


Report ID: SQMIG20I2254 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 64 | Figures: 71

Pneumatic Components Market Dynamics

Drivers

Rapid Industrialization

  • Growing demand for different products around the world has resulted in a rapid surge in industrial activity on a global level and this trend is slated to boost the demand for pneumatic components across the forecast period and beyond.

Advancements in Pneumatic Technology

  • As pneumatic technology advances, it has resulted in efficient pneumatic components, which are projected to witness high demand from different industry verticals. These new energy-efficient components are also compliant with modern sustainability mandates that are gaining prominence around the world.

Restraints

Availability of Electromechanical Solutions

  • Adoption of electromechanical components owing to their benefits of pneumatic components is projected to significantly slow down the market growth over the coming years. Growing penetration of automation technologies is also estimated to favor the demand for electromechanical components and hurt sales of pneumatic components going forward.

Competitive Pricing

  • Pneumatic components are being manufactured by domestic as well as international companies, but the localization of manufacturing allows domestic companies to price their products much lower than international players. This competitiveness in pricing negatively impacts profit margins on leading market players and slows down market growth potential as well.
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FAQs

Pneumatic Components Market size was valued at USD 12.8 billion in 2022 and is poised to grow from USD 13.44 billion in 2023 to USD 19.86 billion by 2031, growing at a CAGR of 5% in the forecast period (2024-2031).

Pneumatic component manufacturers should invest in the research and development of new and advanced products to widen their application scope and revenue generation potential as well. Pneumatic components market players should also focus on expanding their distribution networks to amplify their business reach across the world. Partnerships, collaborations, mergers, and acquisitions will also be preferred strategies for new and upcoming pneumatic component suppliers looking to enhance their presence. The pneumatic components market is highly competitive, and this is why companies should always invest in new strategies to stay ahead of the competition. 'Airtac International Group', 'CNSNS', 'Parker Hannifin Corporation', 'Camozzi Group', 'Siemens AG', 'Ckd Corp.', 'Wuxi Huatong Pneumatic Manufacture Co. Ltd.', 'Bosch Rexroth AG', 'SMC Corporation', 'Emerson Electric Co.', 'Janatics', 'Easun Pneumatic Science', 'Norgren, Inc. (IMI, PIC)', 'Festo SE & Co. KG', 'Zhaoqing Fangda pneumatic Co. Ltd.', 'Fenghua Yaguang Pneumatic Element Co, Ltd.'

Growing demand for different products around the world has resulted in a rapid surge in industrial activity on a level and this trend is slated to boost the demand for pneumatic components across the forecast period and beyond.

Adoption of Smart Manufacturing: The growing popularity of Industry 4.0 and advancements in manufacturing technology have substantially promoted the popularity and adoption of smart manufacturing approaches around the world, which in turn are slated to uplift sales of pneumatic components as they are extensively used in smart manufacturing systems.

North America holds a dominant share in the pneumatic components market. North America is witnessing a strong presence in various industries such as aerospace, electronics, automotive, and manufacturing. All these industries make high use of pneumatic components for automation and precise control. Furthermore, the United States and Canada have a significant presence of pneumatic component manufacturers, which is leading to the overall growth of the pneumatic components market. These industry leaders are adopting several strategies to boost their revenues in the region.

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Global Pneumatic Components Market

Report ID: SQMIG20I2254

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