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Smart Pneumatics Market Size, Share & Trends Analysis - Global Opportunity Analysis And Industry Forecast 2030

Smart Pneumatics Market Size, Share & Trends Analysis - Global...

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Smart Pneumatics Market Size, Share & Trends Analysis - Global Opportunity Analysis And Industry Forecast 2030
Smart Pneumatics Market Size, Share...
Report Code
RO13/107/2279

Publish Date
03/Aug/2022

Pages
210
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The global smart pneumatics market size was US$ 4.1 billion in 2021. The global smart pneumatics market is forecast to grow to US$ 6.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030. 
A device with power output and integrated sensors, detection and control circuits, protection circuits, and fault self-diagnosis circuits, is referred to as smart pneumatics. Due to its inherent reliability, simplicity, and security in hazardous applications, pneumatics is used for a range of applications across various industrial verticals, including automotive, semiconductor, food & beverage, water & wastewater, healthcare, etc.

Factors Influencing the Market
The growing range of robust technological innovations will escalate the growth of the smart pneumatics market during the study period. Further, the efforts toward the wireless infrastructure are growing, which will bring ample growth opportunities for the smart pneumatics market during the study period. 
The rising demand for oil and gas equipment is expected to contribute to the market growth during the analysis period. The market may also record potential growth opportunities due to the rising contribution of Japan as a prominent supplier of smart pneumatic valves and actuators that can generate significant revenue. Thus, it will drive the growth of the smart pneumatics market during the study period. 
However, the shortage of common platforms like ethernet may restrict the market growth during the study period.

COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the unavailability of standardized certifications became a significant challenge for the smart pneumatics market. With the widespread use of digitization and the Internet of Things, the pandemic had gained momentum in recent years. In addition to this rise in understanding of prophetic maintenance's relevance, the need for wireless infrastructure to monitor tools inside a plant has been beneficial the global industry.

Regional Analysis
The Asia-Pacific smart pneumatics market is forecast to record potential growth, owing to the rising regional population and increasing industrialization in the smart pneumatics market. Further, rapid urbanization, majorly in developing economies like China and India, is expected to upsurge the demand for agricultural products. Thus, it will benefit the smart pneumatics market as various food and chemical products production require pneumatic equipment. 
Growing investment in new assets such as oil and gas, steel, energy, and petrochemicals, will drive the smart pneumatics market forward.

North America will also have a significant contribution due to the increased production and sales of commercial vehicles. Aditionally, rising efforts toward the production of railroads and high-speed trains will contribute to the smart pneumatics market growth.

Competitors in the Market
• Advanced Pneumatics Company, Inc
• Basso Industry Corp.
• Bimba Manufacturing Company
• Bosch Rexroth AG
• Eaton
• Emerson Electric Co.
• Festo AG & Co. KG
• Ingersoll-Rand plc
• Metso Corporation
• Parker-Hannifin Corporation
• Other Prominent Players

Market Segmentation
The global smart pneumatics market segmentation focuses on Elements, Type, Industries, and Region. 
By Element
• Hardware
• Software
• Services
By Type
• Valves
• Actuators
• Modules
By Industries
• Automotive
• Semiconductor
• Food & Beverage
• Water & Wastewater
• Oil & Gas
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
 

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