How Will The Smart Pneumatics Market Expand Through 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Smart Pneumatics Global Market Report 2023, the smart pneumatics market is expected to show significant growth in the forecast period.
Key insights from the smart pneumatics market forecast include:
- Market Size
The smart pneumatics market is projected to increase from $4.11 billion in 2022 to $4.42 billion in 2023 with a 7.7% CAGR. By 2027, the market size is predicted to be $5.7 billion, growing at a 6.5% CAGR.
- Major Driver
The smart pneumatics market is boosted by increased commercial vehicle production. These vehicles employ smart pneumatics in systems like braking, suspension, and gearboxes for predictive maintenance and enhancing equipment effectiveness. In May 2023, the European Automobile Manufacturers Association reported European Union commercial vehicle counts rising from 36 million in 2020 to 36.7 million in 2021, fueling market growth.
View More On The Smart Pneumatics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/smart-pneumatics-global-market-report
- Key Trend
Product innovation is a prominent trend in the smart pneumatics market. Leading companies aim to sustain their market position through innovative product development. In January 2021, Graco Inc., a US-based producer of fluid handling systems, introduced the Intelligent Paint Kitchen (IPK) control for pneumatic motor agitators and pumps. IPK is a network of sensors, actuators, and automation modules that enhance paint accessibility and circulation. Its monitoring and control of pump flow, pressure rates, and stirrer speed result in improved efficiency, reduced compressed air usage, and energy cost savings across industries.
- Major Players
Major players in the smart pneumatics market are Cypress Envirosystems Inc., Siemens AG, Schneider Electric SE, Honeywell International Inc., Mitsubishi Heavy Industries Ltd., ABB Ltd., Eaton Corporation plc, Emerson Electric Co., Parker Hannifin Corporation, Rockwell Automation Inc., Bosch Rexroth AG, SMC Corporation, Makita Corporation, Festo Inc., IMI Precision Engineering Ltd., SICK AG, AirTAC International Group, Rotork plc, Camozzi Automation Spa, Ham-Let Group, CKD Corporation, Basso Industry Corp, Norgren Inc., Chicago Pneumatic Tool Co, Thomson Industries Inc., Clippard Instrument Laboratory Inc., Bimba Manufacturing Company, and Advanced Pneumatics Inc.
- Top Market Segments
The global smart pneumatics market is segmented –
1) By Component: Hardware, Software, Services
2) By Distribution Channel: Direct, Indirect
3) By Industry: Oil And Gas, Energy And Power, Water And Wastewater, Automotive, Semiconductor, Food And Beverage
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The Smart Pneumatics Global Market Report 2023 provides an in-depth analysis on the smart pneumatics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the smart pneumatics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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