Market NEWS:
Pneumatic Actuators Market is projected to attend size of $6.2 billion by 2025
The Pneumatic actuators Market is estimated to be USD 4.5 billion in 2019 and is projected to reach USD 6.2 billion by 2025, at a CAGR of 5.3 % from 2019 to 2025. The need to increase productivity & reduce downtime in industrial facilities & manufacturing activities worldwide are the major factors expected to drive the market for pneumatic actuators globally. The development of advanced & cost-effective actuators and increasing demand for industrial robots & process automation in different industrial verticals are some of the opportunities impacting the growth of the pneumatic actuators market.
By type, the Linear actuator segment is expected to grow at the highest CAGR durisng the forecast period
Based on type, the given market is segmented into linear and rotary. The linear segment is projected to grow at the highest CAGR during the forecast period. Linear actuators are used primarily in automation applications. They are used in a wide range of industries where positioning is needed.
The motion control segment is expected to grow at the highest CAGR in the pneumatic actuators market from 2019 to 2025
Based on end use, the pneumatic actuators market has been segmented into flow control and motion control. Industries such as automotive and electrical & electronics have shown higher adoption of motion control technology. Other sectors such as pharmaceutical, pulp & paper, oil gas, and food & beverages are expected to incline more towards the flow control application by increasing adoption of automation by small- and medium-sized enterprises.
The oil & gas application segment to account for the largest market share in the pneumatic actuators market
Based on application, the oil & gas segment is projected to lead the pneumatic actuators market during the forecast period. This sector is attracting heavy investments from all over the world; this trend is automatically increasing the demand for pneumatic actuators as this are the critical part of oil & gas plant architecture.
The pneumatic actuators market has been growing at a significant rate, and this trend is expected to continue during the forecast period. However, the development of advanced & cost-effective pneumatic actuators, and increasing demand for industrial robots and industrial automation in different industrial verticals are some of the opportunities impacting the growth of the pneumatic actuators market. China and Japan are primarily investing in automation to enhance and gain a tactical edge. This factor is an excellent opportunity for pneumatic actuator manufacturers to strengthen their businesses in the Asia Pacific region.
Key Market Players
The major players in the pneumatic actuators market include ABB (Switzerland), Parker Hannifin (US), Emerson (US), Rotork (US), SMC (Japan), Cameron (US), and Festo (Germany). ABB is one of the leading players in the pneumatic actuators market. The company has high-value contracts with countries, such as China. It holds a greater share in automating the industrial process across different industrial verticals. The company has also been focusing on the acquisition of small players to increase its product offerings as well as market share. It has adopted several other strategies, such as partnerships, agreements, and the establishment of new manufacturing facilities to strengthen its market position as well as ensure future growth.
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