Dublin, Aug. 11, 2023 (GLOBE NEWSWIRE) -- The "Pneumatic Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
According to this report, the market is expected to register a CAGR of 7.3% over the forecast period.
Key Highlights
- Increasing Automation: The market growth of pneumatic equipment is driven by the increasing automation across industries. The demand from manufacturing industries for small and large projects and the need to improve industrial project efficiency are expected to drive the adoption of pneumatic equipment during the forecast period.
- End-User Verticals: Various end-user verticals are focusing on improving process efficiency to minimize costs. This is achieved by integrating appropriate equipment that offers cost, size, and thrust advantages. Pneumatic actuators are gaining popularity due to these advantages.
- Advantages of Pneumatic Systems: Pneumatic systems offer several advantages over electromotive components, including longer lifespan, lower maintenance requirements, simplicity, and resistance to overheating when overloaded.
- Applications in Aerospace and Packaging: The aerospace sector has been stimulated by the advent of jet engines, leading to the use of centrifugal and axial-flow compressors. Pneumatic equipment is also widely used in packaging machines, driving motion and actuating machine sequences.
Pneumatic Equipment Market Trends
- Pneumatic Valves to Hold Significant Market Share: Pneumatic valves are expected to hold a significant market share due to their expanding usage in the manufacturing and mechanical domains. The increasing usage of heavy automobiles is also anticipated to drive market growth. However, high-end maintenance and a shortage of skilled personnel may impede market growth.
- Growth in North America: North America is witnessing significant growth in the pneumatic equipment market, driven by the increase in production and sales of commercial vehicles and off-highway trucks. The region also sees growth in railway and high-speed train production.
A selection of Companies mentioned in this report includes
- Festo Inc.
- Emerson Electric Co.
- SMC Corporation of America
- Janatics
- Siemens AG
- Parker Hannifin Corp.
- Ingersoll Rand
- Koki Holdings Co. Ltd
- Chicago Pneumatic
- Eaton Corporation
- ROSS Controls
- Allied Electronics & Automation
For more information about this report visit https://www.researchandmarkets.com/r/94ebr
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