Pneumatic Equipment Market Overview
Product Overview and Scope of Pneumatic Equipment Market
Pneumatic equipment is referred to as machinery, tools, and systems that utilize compressed air or gases for power transmission and operation. It involves the use of compressed air to generate force or motion, enabling various mechanical actions and functions. Pneumatic Equipment typically consists of several components, such as air compressors, Pneumatic Equipment cylinders, valves, actuators, filters, regulators, lubricators, hoses, fittings, and Pneumatic Equipment tools. These components are used to perform mechanical motion and control Pneumatic Equipment operations.
Compressed air is found to be more practical, adaptable, and secure to utilize. This is the main factor in persuading end users to use pneumatic equipment to perform regular industrial operations. Additionally, the stringent environmental regulatory laws to safeguard the environment from the hazards of flammable and toxic components have encouraged manufacturers to use environmentally friendly products such as pneumatic equipment. In the upcoming years, it is anticipated that the abundant supply of air would increase the need for Pneumatic equipment and generate revenue increase in coming years.
Pneumatic equipment finds application in various industries such as manufacturing, automotive, construction, aerospace, healthcare, mining, and more. It is a popular option for many industrial and business applications because it offers benefits like simplicity, reliability, cost-effectiveness, and compatibility for various environmental situations
Pneumatic Equipment Market – Global Industry Analysis
Market Drivers
- Increasing automation across several industries
Industries are increasingly using automation to enhance precision, consistency, and operational efficiency. Pneumatic equipment plays an important role in industrial automation processes. With the increasing adoption of automation in industries such as manufacturing, automotive, food and beverage, and pharmaceuticals, the demand for pneumatic equipment has been growing. Pneumatic systems offer advantages like cost-effectiveness, simplicity, reliability, and safety, making them suitable for various automation applications.
Moreover, automation heavily depends on actuators and cylinders to convert compressed air energy into mechanical motion. These pneumatic components are essential for automating processes such as material handling, assembly, packaging, and sorting. The integration of pneumatic control systems in various industrial machinery is increasing as automation systems require robust control systems to regulate the movement and operation of various components. Pneumatic control systems, including valves, sensors, and regulators, play a crucial role in achieving precise and efficient automation. These systems allow for precise control of air pressure, flow, and direction, enabling synchronized movements and operations in automated processes.
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Worldwide installations of industrial robots |
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Source: Cognitive Market Research |
The growing adoption of industrial robots in various industries accelerates the demand for pneumatic equipment as these robots rely on pneumatic actuators, grippers, controls, and components for their motion, handling, automation, and collaboration capabilities. As industrial automation increases the demand for pneumatic equipment will continue to grow.
- Increasing demand for industrial equipment
- Rapid growth in the automotive industry
Global Pneumatic Equipment Revenue by Regions (2018-2023)
Global Pneumatic Equipment Revenue and Market Share (%) by Regions (2018-2023)
Global Pneumatic Equipment Revenue (USD Billion) by regions (2018-2023)
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2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
|
North America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
XX |
|
Asia Pacific |
XX |
XX |
XX |
XX |
XX |
XX |
|
Latin America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
XX |
|
Total |
XX |
XX |
XX |
XX |
105.4 |
XX |
Global pneumatic equipment market was valued at USD 105.4 Billion in 2022 and is expected to grow at a CAGR of 7.10% over the forecast period, from 2023 to 2030.
Global Pneumatic Equipment Market Scope
By Type
- Pneumatic Actuators
- Pneumatic Valves
- Pneumatic Seals
- Pneumatic Fittings
- Others
End-user
- Automotive
- Food and Beverage Processing and Packaging
- Aerospace and Defense
- Chemical and Petrochemical
- Others
Company List
- Emerson Electric
- Parker Hannifin
- Bimba Manufacturing
- Rotork
- Mesto
- Thomson Industries
- Advanced Pneumatic
- Basso Industry Corp.
- Chicago Pneumatic
- Others
Pneumatic Equipment Market Regional Analysis
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Pneumatic Equipment Market, By Region (2022) |
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Source: Cognitive Market Research |
In 2022, the Asia Pacific held the major market share of around 41.90% due to the substantial growth of the automotive industry followed by the exponential growth of the industrial sector. The emergence of new automotive technologies and the growing trend toward vehicle electrification has increased the demand for Pneumatic equipment such as valves, seals, and tubing. Further, the manufacturers in this region are preferring affordable materials which are durable and strong in pneumatic equipment. Thus, the minimum cost of manufacturing pneumatic equipment due to low-cost design material makes it more efficient and economical. Moreover, the vast growth of the industrial sector in emerging countries such as China and India which is opting for pneumatic equipment in order to perform multiple tasks that will further drive market growth in Asia Pacific.
Global Pneumatic Equipment Manufacturers Profiles/Analysis
Parker-Hannifin Corporation
Parker-Hannifin Corporation Company Basic Information, and Sales Area
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Item |
Description |
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1 |
Company Name |
Parker-Hannifin Corporation |
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2 |
Website |
www.parker.com |
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3 |
Established Date |
1917 |
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4 |
Headquartered |
Cleveland, Ohio, U.S. |
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5 |
Market Position/History |
Parker-Hannifin Corporation was founded in Ohio in 1938. The company manufactures and distributes its product in 38 states within the United States and 44 other countries. The company supplies its products to around 505,000 customers across the globe. In the early days, the company built Pneumatic Equipment brake systems for trucks, trains, buses, and industrial machinery, as well as leak-free fittings for the pioneers of aviation. Through staggering setbacks and impressive achievements, Parker’s solutions have enabled countless technology leaps over the past century. |
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6 |
Sales Area |
Worldwide |
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7 |
Contact Number |
6035 Parkland Boulevard, Cleveland, Ohio 44124-4141. Tel: (216) 896-3000 |
Business Segment/ Overview:
Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial, and aerospace markets. The company has two segments including diversified industrial and aerospace systems. The diversified industrial segment serves products to various industries such as manufacturing, packaging, processing, transportation, mobile construction, refrigeration, air conditioning, agricultural and military machinery, and equipment industries.
Investment in Research and Development
Research and development costs incurred and charged to income for the fiscal years ended December 31, 2021, and 2020 were USD 259 million and USD 294 million, respectively.
| Parker-Hannifin Corporation R&D Investment (USD Million) (2020-2021) |
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Source: Cognitive Market Research |
Business Strategy
Parker Hannifin Corp has a strategic focus on inorganic development such as strategic acquisitions, mergers, product redesigning and partnerships to enhance the portfolio offerings of the company. For instance, Parker Hannifin Pneumatic division announced redesign to Wilkerson series of compressed air treatment products. North America is pleased to announce new design for the Wilkerson 08/18/28 Series of modular air preparation products.
