WELLESLEY, Mass., March 08, 2018 (GLOBE NEWSWIRE) -- Improvements in design and technology, the expansion of industrialization and a growing awareness of energy expenditure savings are helping to drive growth in the worldwide pneumatic equipment market, according to a report by BCC Research.
The global market is expected to see a compound annual growth rate (CAGR) of 6.7% through 2022, when the sector could be worth $113.9 billion, according to the report Pneumatic Equipment: Technologies and Global Markets.
Major players in the market include Advanced Pneumatics, Basso Industry Corp., Bosch Rexroth, Chicago Pneumatic, Delton Pneumatics, Eaton Corp., Festo, Gardner Denver, Hitachi Koki, Ingersoll Rand Inc., Jiffy Air Tool, Kramer Air Tools Inc., Makita Corp., Mann+Hummel, Mitsubishi Heavy Industries Ltd., P&F Industries, Pneumatic Products, SMC Corp. of America, Stanley Black & Decker Inc. and VAC-U-MAX.
Research Highlights
- Pneumatic power is particularly pervasive where pressurized air is needed, including the construction, mining, transport, diving and dentistry industries.
- Pneumatic actuators, along with secondary air treatment systems, had a market value of nearly $37 billion in 2017; the value was expected to reach $51.1 billion by 2022, for a compound annual growth rate of 6.7%.
- Energy efficiency in pneumatic actuator systems can save between 1.5% and 2% of compressed air.
“There is vast improvement in pneumatic sealing technology with the availability of a range of composite materials such as synthetic esters, which extend product lifetime and reduce the costs of operating pneumatic actuators,” said BCC Research analyst report author Srinivasa Rajaram. “Also, new permanent lubricating materials such as synthetic ester have extended the life of non-repairable actuators. New application opportunities for pneumatic actuators have led to these technological advances.”
Challenges to the Market Include New Equipment, Poor Integration
A number of challenges could threaten growth in the market. Chief among them is the appearance of electromechanical equipment as a replacement for pneumatic equipment – benefits include better control, greater power, cleaner technology and extended life cycles. Other threats include the failure of air cylinders, the need for better integration of pneumatic equipment with electronics-based products and the need for manufacturers to upgrade supply chains with database management systems.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.