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As per our research report the Pneumatic Components Market size was estimated to be worth 14.63 billion dollars in 2021, and it is predicted to be worth 18.49 billion dollars by the end of 2027. During the projection period of 2022 to 2027, the global market is expected to grow at a CAGR of 4.46 percent.
Pneumatic components are the parts that are assembled to make pneumatic device or pneumatic systems. Pneumatic systems include pneumatic components such as pneumatic actuator unit, pneumatic control unit, pneumatic filter unit, and other connected parts. Pneumatic components are modules that use compressed air to power mobile parts. Pneumatic components use to control and transmit energy which utilizes compressed air for functioning. The filters and air dryers are generally employed in pneumatic systems so as to keep compressed air clean and dry, which helps in enhancement of the components and increase systems reliability and service life. There are variety of valves that are used in pneumatic systems in order to control the direction, pressure, and speed of actuators.
The major factor that influences the growth of the pneumatic components market is the rising need of the safety of the food and beverages industry. The pneumatic components help in controlling. Food and beverage industry has shown a significant rise in adoption of huge volume of pneumatic components for variety of applications. The demand of pneumatic components is increasing in order to enhance machine safety as well as performance. The demand of pneumatic component is increasing in industries as it provides safe and precise procedures by utilizing compressed and energy efficient automation. Several manufacturers are making efficient use of pneumatic components for manufacturing and development of other products.
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The increasing demand of the industrial safety and the increasing investment by the key industrialist are the major driver which are responsible for the growth of the pneumatic components market. Additionally, strict government regulation towards the safe operations within the industries and growing industrial automation are some of the factors that support the market growth.
Furthermore, the rapid adoption of advanced technologies such as Industrial Internet of Things (IIoT), artificial intelligence etc, pneumatic technology is gaining a lot of traction and becoming popular for functional and commercial use due to its monitoring and measurement capabilities. Also, it provides meaningful information on machine operation and enhances the performance of the devices.
IMPACT OF COVID-19 ON GLOBAL PNEUMATIC COMPONENTS MARKET:
The global pneumatic Components Market is significantly impacted by COVID-19 outbreak. During pandemic, government of several nations has imposed lockdown that has caused partial or temporary shutting down of the industries. The lockdown and travel restrictions have caused disruptions in supply chains that have affected pneumatic components markets. Also, due to shutting down of industrial activities during this period has declined the use of pneumatic components which in turn affects the demand as well as market growth of pneumatic components. Lockdown and social distancing protocols has led to unavailability of workforces and raw materials, therefore factories around the world have faced many challenges to produce these components. Owing to these reasons the demand of pneumatic components during the COVID-19 outbreak has decreased. But industrial activities have started recovering in 2021 and it is expected that the demand of the pneumatic components will increase in projected period.
The global pneumatic components market segmentation includes:
BY COMPONENT TYPE: Air Treatment Component, Pneumatic valves, Pneumatic Cylinders
Based on component types, Pneumatic valves are expected to hold the significant market share during the forecast period. The primary factors responsible for the growth this segment are the rapidly increasing use of pneumatic valves in manufacturing as well as mechanical sector. Moreover, the increasing use of pneumatic valves in heavy automobile is fueling the growth of the market. Furthermore, pneumatic valves along with meeting machine safety regulations are providing to have successful strategy in the machine building around the globe that has caused globalization of machine market place and intend to sell in multiple regions, thereby presenting pneumatic technology to be highly used. All the above factors drives the demand of pneumatic valves which further boosts the pneumatic components market growth in coming years
BY APPLICATION: Electronic, Chemical Industry, Machinery and Others
On the basis of Application, Machinery industry segment is expected to drive the growth of the pneumatic components market in projected period. The increasing use of pneumatic components in order to control and direct machine operations is propelling the demand of the pneumatic components market over the foreseen period between 2022 and 2027
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The manufacturers and key players of pneumatic components are increasing their investment in the field of electronics and other major applications is the primary factor of the growth of pneumatic components market in Asia-Pacific region. Asia-Pacific region is expected to become the largest market of the pneumatic components in the forecast period. Moreover, the regional governing bodies has started focusing on infrastructural developments due to which there is a massive opportunities for the growth of the pneumatic components market in the coming years. In addition to it, there is a rapid increase in commercial developments and the supporting government policies regarding Foreign Direct Investment (FDI) are the exclusive investments that will drive the growth of pneumatic components market. Moreover, the manufacturing cost in India and China is lower as compared to developing countries which are the vital region for the growth of the pneumatic components market in this region in foreseen period.
Europe is going to hold the second largest share of the pneumatic components market over the projected period. The reason for this growth is increasing demand of the pneumatic components in electronics, chemical industry, machinery and other industries followed by strict government regulations is expanding the size of the market. The industrial automation also played a vital role in this market. Apart for this, there is a presence of huge number of medical device manufacturers in this region who requires pneumatic components for manufacturing of medical devices therefore drives the growth of pneumatic components market.
It is expected that North America will show a considerable growth rate during the projected period. The escalating demand of the pneumatic components in industries along with the rising investment by the several end-user industries is strengthening the position of North America among the strongest contenders across the globe. In addition to it, the significant expansion of major industries such as chemicals, electronics, machinery, oil and gas, etc in this region is also prominent reason for the growth of the pneumatic components market in near future.
In January 2021, Honeywell and Satair (a global leader in the commercial aerospace aftermarket) has signed a multiyear commercial agreement. The agreement includes the exclusive global distribution for mechanical and air thermal components that are used on Airbus 320, A330, sA340, and A380 Aircraft. It is first joint agreement which expands long term and successful business relation between both the companies.
In the beginning of 2021, the Delta line SA and Helix Linear Technologies has announced that they have developed a global strategic partnership. This partnership combines Delta Line’s motion solutions products and services with Helix Linear’s engineering and its potential of advanced manufacturing in linear motion systems
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