USD 13.57 billion
Report ID: SQSG20I2032 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Pneumatic Cylinder Market size was valued at USD 13.57 billion in 2021 and it is expected to reach a value of USD 23.83 billion by 2028, growing at a CAGR of 5.79% over the forecast period (2022-2028).
Pneumatic cylinders are used in the oil & gas sector, foods & beverages, automotive, mining sector, aerospace, aircraft, and others. The factors which have a positive impact on market growth are increase in demand for automation, energy-efficient product, and construction. The growth of the global market is attributed to the incorporation of IoT in pneumatic cylinders and increasing demand for high-speed devices in a variety of industrial applications. In industrial machines, pneumatic cylinders are used for motion control. Key players are focusing on manufacturing such cylinders that increase performance and reduce emissions in gas power industries.
Global Market Size
USD 13.57 billion
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Global Pneumatic Cylinder Market is segmented into product type, motion, end-user, and region. Based on product type, the global market is segmented into single-acting cylinder and double-acting cylinder. Based on motion, the global market is segmented into linear and rotary. Based on end-user industry, the global market is segmented into oil & gas, paper & pump, mining, water & wastewater, foods & beverages, energy & power, automotive, aerospace, robotics, and others. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Analysis by End-User
Based on end-user, the global market is segmented into oil & gas, paper & pump, mining, water & wastewater, foods & beverages, energy & power, automotive, aerospace, robotics, and others.
Robotics segment is expected to dominate the global market over the forecast period. Robotics are used in all industries, and it has a wide range of applications in the field of manufacturing, healthcare, military, and others. A pneumatic cylinder is used in robotics to control the motion of robotic arms.
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Asia Pacific is expected to have the largest global pneumatic cylinder market share over the forecast period due to the automobile sector growing rapidly in this region. In addition, emerging countries such as India and China have high populations which increase the demand for passenger and commercial vehicles. Automobile industries used pneumatic cylinders for conveyors, valve operation in process, and lifting heavy parts of vehicles. In the Asia Pacific region manufacturing plants are increased to meet the demand for automobiles, and hence the demand for pneumatic valves has also increased which helps to propel the market growth.
North America is expected to gain a grip in the global market over the forecast period. Healthcare industries are growing rapidly across the region due to the increasing population. In the healthcare sector, pneumatic cylinders are used in operating rooms, recovery rooms, medical devices, and other systems and also provide compressed air. Hence, the popularity of pneumatic cylinder is increasing in North America which drives market growth.
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IoT plays a big role in robotics, by giving operators more control over their equipment, such as by manipulating the machines from a distance using the app. IoT also has wide applications in the medical industry, automotive industry, food processing, and packaging. hence the incorporation of IoT in pneumatic cylinders drives the market.
High production and maintenance costs of pneumatic cylinders hindered the market growth. In some applications, there is a need of maintaining the specific speed so that additional devices are used to obtain the specific speed which ultimately increases the cost of a pneumatic cylinder. The durability of the pneumatic cylinder is less as they accumulate moisture. This factor restrains the growth of the global market.
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Global pneumatic cylinder market is highly fragmented. Due to consumer focus on competitive pricing, many pneumatic cylinder players have a manufacturing plant in regions where labor cost is lower. Key players undergo mergers and acquisitions to produce innovative products. Players accepted key strategies to strengthen their position in the competitive market.
Top Player’s Company Profiles
Global Pneumatic Cylinder Market to Undergo Transformation due to Technological Advancement
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to Global Pneumatic Cylinder Market analysis, the incorporation of IoT, rapid industrialization, and increasing collaboration among key players are the factors that drive the market. Some issues associated with pneumatic cylinder such as less durability, and high production and maintenance cost hinders the growth of the global pneumatic cylinder market.
|Market size value in 2021||USD 13.57 billion|
|Market size value in 2028||USD 23.83 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Pneumatic Cylinder Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Pneumatic Cylinder Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG20I2032