Description
Global Pneumatic Components Market Research Report- Forecast till 2026
Market Synopsis
Global Pneumatic Components Market is expected to grow with rapid growth to register the highest CAGR during the study period. Some common Pneumatic components are actuators, valves, cylinders, and fittings. These components are exclusively used in industrial automation due to the infinite availability of the source (compressed air), easy channeling, safety, easy storage, and easy utilization. The increasing investments in industrial automation are expected to expand and increase demand for pneumatic components, as many devices used in industrial automation are powered by compressed air.
The global pneumatic components market is estimated to grow significantly during the forecast period due to the increasing demand for pneumatic components to assure safe and precise processes. Additionally, global market growth is driven by the requirement for machine safety and operational improvement. Furthermore, the rising requirement for safe and precise processes, inclusive of compressed air use and energy-conscious automation is expected to enhance the demand for pneumatic components for production and end-use industries. Amid the growing adoption of the Industrial Internet of Things (IIoT), pneumatics technology is gaining a lot of traction and becoming increasingly functional and commercial with its capabilities in tracking and measurement, providing significant insights into machine operation and the performance of devices.
Market Segmentation
Global Pneumatic Components Market is categorized by Type, Application, and Region. By type segment, the global market has been segregated into air treatment components, pneumatic valves, and pneumatic cylinders. In terms of the application, the global market has been segmented into electronics, chemical industry, machinery, and others.
Regional Analysis
Geographically, the global pneumatic components market has been categorized into five major regions, namely North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The Asia-Pacific region is expected to contribute the largest market during the review period owing to increasing investments being made by manufacturers towards electronics and other major applications. Additionally, with the regional government bodies focusing on infrastructural developments, there is immense scope for the growth of the pneumatic components market in Asia-Pacific during the forecast period.
With the rapidly increasing commercial development combined with favorable government regulations regarding FDI, the region is poised for significant investments from major manufacturers in the forthcoming years. Additionally, with increasing government initiatives in India, the scope of growth and development of pneumatic components in the emerging markets is expected to be immense during the forecast period. However, the production costs in the Asia-Pacific countries of China and India are lower than those in advanced countries is likely to drive the growth of the pneumatic components market in the region during the review period.
Major Players
The Prominent Players in the Global Pneumatic Components Market are Festo SE & Co. KG, Bosch Rexroth Ag, SMC Corporation, Airtac International Group, Norgren, Inc. (.Subsidiary Of IMI, Plc), Ckd Corp., Parker Hannifin Corporation, JELPC (Ningbo Jiaerling Pneumatic Machinery Co., Ltd.), Fenghua Yaguang Pneumatic Element Co, Ltd., Zhaoqing Fangda pneumatic Co. Ltd., Camozzi Group, Wuxi Huatong Pneumatic Manufacture Co. Ltd., Easun Pneumatic Science & technology, and CNSNS.
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.