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Classified in: Mining industry, Covid-19 virus
Subject: MRR

Smart Pneumatics Market to record USD 1.72 Bn growth -- High demand expected from the automotive segment


NEW YORK, Sept. 23, 2022 /PRNewswire/ -- The global smart pneumatics market size is expected to grow by USD 1.72 billion, accelerating at a CAGR of 6.48% between 2021 and 2026. The report considers the revenue generated by vendors, investments related to CAPEX from the industrial sector, commodity price fluctuation purchasing managers' index (PMI), and various other factors to estimate the growth of the market. Download PDF Report Sample to understand the scope of our full report.

Automotive manufacturers are making significant investments in research and development and are revising their production decisions. Besides governments in both developed and developing countries are announcing a series of economic packages to help the industrial sector. Many such factors are expected to create significant opportunities for vendors operating in the market.

The adoption of IoT-enabled actuators for predictive maintenance is expected to have a positive impact on the growth of the smart pneumatics market during the forecast period.

The report on the smart pneumatics market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. Technavio analyzes the market by end-user (automotive, semiconductor, food and beverage, water and wastewater, and others) and geography (North America, APAC, Europe, South America, and the Middle East and Africa).

The automotive industry is the prime end-user in the market. Factors such as continuous technological upgrades, the dynamic nature of emission regulations, and the increasing production and sales of passenger cars are driving the growth of the market in the automotive segment. In addition, the increasing demand for automotive components and accessories, including smart pneumatics automotive in countries such as China, the US, Germany, and India is expected to contribute to the growth of the segment during the forecast period.

By region, North America will dominate the market growth, occupying 32% of the global market share. The increasing demand for pneumatics across many industries, including automotive, semiconductor, and water and wastewater is driving the growth of the regional market. Besides, the high adoption of luxury vehicles and increasing investments in R&D by major automotive OEMs are fostering the growth of the smart pneumatics market in North America.

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Request Sample Report Here

The smart pneumatics market covers the following areas:
Vendor Landscape

The global smart pneumatics market is fragmented. The market comprises vendors that are constantly trying to improve their product offerings by innovating their product lines. This has helped them gain significant shares in the market.  The competition between international and regional vendors is intense. Many small vendors are struggling to survive in the presence of large vendors in the global smart pneumatics market. However, large international vendors are currently dominating the market in terms of product quality, durability, reliability, and technological innovations.

The competitive environment in this market is likely to intensify further with an increase in research and development (R&D) and mergers and acquisitions (M&A). International players are expected to grow inorganically by acquiring regional and local players during the forecast period. They are also implementing IoT in smart pneumatics to gain a competitive advantage. Technavio identifies the following as the dominant vendors in the market.

Related Reports:

Smart Pneumatics Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.48%

Market growth 2022-2026

USD 1.72 billion

Market structure

Fragmented

YoY growth (%)

6.14

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 32%

Key consumer countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Advanced Pneumatics Pvt. Ltd., BASSO Industry Corp., Bimba Ltd., Bosch Rexroth AG, Chicago Pneumatic, Cypress EnviroSystems, Emerson Electric Co., Festo SE and Co. KG, Ingersoll Rand Inc., Koki Holdings Co. Ltd., Makita Corp., MANN HUMMEL International GmbH and Co. KG, MESTO Spritzenfabrik Ernst Stockburger GmbH, Metrolog Controles de Medicao Ltda, Mitsubishi Heavy Industries Ltd., Ningbo Smart Pneumatic Co. Ltd., Parker Hannifin Corp., Rotex Automation Ltd., Rotork Plc, and Thomson Industries Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by End-user

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


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News published on 23 september 2022 at 16:30 and distributed by: