[197+ Pages Report] According to recent survey report issued by Facts and Factors, the global Smart Pneumatics Market stood at USD 3.76 Billion in 2020 and is projected to rise to USD 5.54 Billion in the year 2026, expanding at a CAGR of nearly 6.70% between 2021 and 2026.
Smart pneumatics is one of the most often used and favored pieces of equipment in the world, and it may be utilized in a variety of situations. It is a piece of machinery that is used to handle and carry items inside the confines of an industry. It is used in a variety of sectors, including automotive, manufacturing, retail, food and beverage, and transportation. Smart Pneumatics encompass a wide range of items, including belt conveyors, rollers, and pallets, among others. The usage of Smart pneumatics enables that a bigger volume of commodities is handled with greater efficiency. Smart pneumatics are material handling machinery and equipment that transfer heavy or bulky raw materials and/or completed goods from one location to another in a fraction of the time that human labor would take.
The growing use of smart pneumatics in various sectors such as automotive, software, and services, among others, has fueled the worldwide smart pneumatics market's rise. Smart pneumatics are widely used in the automobile industry since they assist in ensuring that the production process is carried out efficiently. Automobile manufacturers are also implementing IoT technologies in order to improve asset monitoring and energy efficiency. In the automobile sector, this has generated a great development potential for smart pneumatics. Smart pneumatics is also increasingly being used in software and service components. One of the primary factors driving the growth of the smart pneumatics market is the increasing usage of the Internet of Things (IoT) across industries. By integrating smart technologies into traditional industrial components, the industrial internet of things (IIoT) has taken control. Pneumatic systems were formerly popular in industry because of their speed and dependability. By allowing pneumatic equipment to supply data for analytical procedures, the IIoT has extended its possibilities.
The global Smart Pneumatics market is segregated based on component, type, end-use industry, and region. Based on components, the global smart pneumatics industry is categorized into hardware, software and services. Based on type, the global smart pneumatics industry is categorized into smart pneumatic actuators, smart pneumatic valves, and smart pneumatic modules. Based on the end-use industry, the global smart pneumatics industry is categorized into oil & gas, energy & power, water & wastewater, automotive, semiconductor, food & beverage, and others (pharmaceuticals, chemicals, and metal & mining).
In 2020, Asia Pacific is likely to be the leading regional Smart Pneumatics market As a result of the increased adoption of smart manufacturing or Industry 4.0 in numerous sectors, the Asia Pacific is expected to dominate over the forecast period, creating a substantial demand for smart pneumatics in the region. Also boosting demand for smart pneumatic systems in the Asia Pacific is a growing focus on optimum asset application, stringent regulatory rules for the workplace and personal safety, and rigorous quality control in the automotive, semiconductor, chemicals, and food & beverage sectors.
Some main participants of the global Smart Pneumatics market are Advanced Pneumatics, Aventics GmbH, Basso Industry Corp., Bimba Manufacturing, Bosch Rexroth, Chicago Pneumatic, Cypress EnviroSystems Corp, Delton Pneumatics, Eaton Corp., Emerson Electric, Festo, Gardner Denver, Ham-Let Group, Hitachi Koki, Ingersoll Rand Inc., Jiffy Air Tool, Kramer Air Tools Inc., Makita Corp., Mann+Hummel, Mesto, Metrolog, Mitsubishi Heavy Industries Ltd., Ningbo Smart Pneumatic Co. Ltd., P&F Industries, Parker Hannifin, Pneumatic Products, Rotex Automation Limited, Rotork, SMC Corp. of America, Solution Control and Engineering Co., Stanley Black & Decker Inc., The Smart Actuator Company, Thomson Industries, and VAC-U-MAX amongst others.
Our Analysts and Consultants are working ceaselessly to congregate, identify, analyze, and portray the Actual Impacts of COVID-19 Global Pandemic in each of our published as well as ongoing research reports to Redefine and Revise Current and Future Market Trends, Growth Rates, And Market Size Projections across the Globe as well as in different Regions and individual Countries.
Still haven't found what you're looking for? Speak to our Custom Research TeamLearn More