Market Research Future Insights
The anticipated market value of Pneumatic Components Market is valued at $18 Billion for the forecasted period 2024-32. With a CAGR estimation is around 5% backed by reasons like, these Pneumatic Components are the parts of the Pneumatic systems. These systems possess clean energy which helps to increase the reliability & life of the components.
Also, Components have attractive features like cost-effective storage capacity, usability, ease of power and transfer of speed, simplicity of channeling, and lack of environmental threats.
With respect to the Covid-19, the Pneumatic Components Market has been badly affected, due to the lack of raw material, the manufacturing industry of this market has shown a downward trend. Due to the lockdown, the government had forbidden the cross border transactions. Experts had predicted that due to the maximum usage of burgeoning electronics, medical devices, and surgical tools there's a wide scope for the expansion of this market.
Regional analysis
In terms of region Pneumatic Components Market, has been broadly analyzed into North America, Asia Pacific, Europe, Latin America & Middle East Africa. From all these regions, this market has been dominated by Asia Pacific.
The reason behind this is, there's an increase in the efforts and investments made by developers in developing electronics, infrastructure, government initiatives and other major applications. The second region which has been expected to dominate the market is Europe, due to rise in the various industries like Chemical, Medical, Electronics & Machinery. It is also expected that North America, too will be acquiring this market during the foreseen period for the reason being rise in the various industries pertaining to this Pneumatic Components. All these fruitful reasons for this region have been boosting this market.
Market Segmentation
Pneumatic Components are broadly classified into 3 segments. All the 3 segments are further Sub-segmented for fruitful results. They are based on Type, Application & Vertical industry. On the basis of Type, it is divided into Air Treatment Components, Pneumatic Valves &
Pneumatic Cylinders. Further, on the basis of Application, it is fragmented into Hosting, Punching, Test systems, Plastics machinery, Assembly systems & Coolant systems. Lastly, Vertical industry, the market has been Sub-segmented into Electronics, Chemical Industry &
Machinery.
Key players
Leading manufacturers of this Pneumatic Components Markets are the companies like Bosch Rexroth AG, Festo SE & Co. KG, SMC Corporation, Norgren Inc. (Subsidiary Of IMI Plc), Airtac International Group,.Ckd Corp, JELPC (Ningbo Jiaerling Pneumatic Machinery Co. Ltd.), Parker Hannifin Corporation, Fenghua Yuguang Pneumatic, Element Co Ltd., Camozzi Group
Zhaoqing Fangda pneumatic Co. Ltd, Wuxi Huatong Pneumatic, Manufacture Co. Ltd, CNSNS and lastly Easun Pneumatic Science & technology.
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