Categories: Industry

Smart Pneumatics Market Forecast 2024-2033

Overview and Scope

Smart pneumatics is the combination of pneumatic systems with digital technologies to improve their operation, monitoring, and control of overall equipment performance. Pneumatics uses compressed gas or air to move power and regulate physical motion in various industrial applications.

Sizing and Forecast

The smart pneumatics market size has grown strongly in recent years. It will grow from $4.42 billion in 2023 to $4.75 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to industrial automation demand, energy efficiency, demand for predictive maintenance, cost-effective solutions, rise of digital twins.

The smart pneumatics market size is expected to see strong growth in the next few years. It will grow to $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing healthcare expenditure, rise in geriatric population, growing healthcare infrastructure, precision and durability. Major trends in the forecast period include artificial intelligence (ai) integration, edge computing integration, cloud-based solutions, cybersecurity measures, predictive diagnostics and health monitoring.

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Segmentation & Regional Insights

The smart pneumatics market covered in this report 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

Asia-Pacific was the largest region in the smart pneumatics market in 2023 and is expected to be the fastest-growing region in the smart pneumatics market report forecast period. The regions covered in the smart pneumatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

Increased production of commercial vehicles is expected to propel the growth of the smart pneumatics market. A commercial vehicle is permitted to transport materials or goods rather than passengers. Commercial vehicles utilize smart pneumatics in their braking, suspension, and gearbox systems to play a significant role in predictive maintenance, monitoring, and improving overall equipment effectiveness (OEE). For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based major automotive industry establishing standards and lobbying organization, commercial vehicle counts in the European Union climbed from 36 million in 2020 to 36.7 million in 2021. Therefore, the increased production of commercial vehicles is driving the growth of the smart pneumatics market.

Key Industry Players

Major companies operating in the smart pneumatics market report 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, Advanced Pneumatics Inc.

The smart pneumatics market report table of contents includes:

1. Executive Summary

2. Smart Pneumatics Market Characteristics

3. Smart Pneumatics Market Trends And Strategies

4. Smart Pneumatics Market – Macro Economic Scenario

5. Global Smart Pneumatics Market Size and Growth
…

32. Global Smart Pneumatics Market Competitive Benchmarking

33. Global Smart Pneumatics Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Smart Pneumatics Market

35. Smart Pneumatics Market Future Outlook and Potential Analysis

36. Appendix

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