April 21, 2024
Pneumatic Cylinder Market

Pneumatic Cylinder Market is Expected to be Flourished by Increasing Adoption in Automation Industry

Pneumatic cylinders are electro-mechanical devices that convert compressed air or gas into mechanical force and motion and are widely used in industrial and automation applications. Pneumatic cylinders contain a piston that is controlled by the pressure of compressed gas and is used to move or lift objects for various industrial applications. Major end-use industries of pneumatic cylinders include automotive, food and beverages, semiconductor & electronics, healthcare, manufacturing, and construction among others. Pneumatic cylinders offer advantages such as corrosion resistance, low cost of ownership, low maintenance, and high accuracy over other actuators.

The global pneumatic cylinder market is estimated to be valued at US$ 1361.34 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Increasing adoption of Industrial Automation: The growing adoption of industrial automation across various end-use industries is a major factor driving the growth of the pneumatic cylinder market. Pneumatic cylinders are extensively used in automated assembly lines, production systems, material handling equipment, and packaging machines. The rapid industrialization along with growing demand for enhanced operational efficiency is propelling the demand for pneumatic cylinders for various industrial automation applications.

Growing demand from emerging economies: Emerging economies in Asia Pacific region such as India, China, Indonesia are witnessing rapid industrialization which is creating significant demand for pneumatic cylinders. These countries offer low-cost manufacturing facilities along with growing foreign investments in the manufacturing sector. This has prompted several multinational companies to establish their production bases in these emerging nations, thereby augmenting the adoption of pneumatic cylinders.

Segment Analysis
The pneumatic cylinder market is segmented based on function, end-use industry, and region. Based on function, the market is segmented into single-acting and double-acting cylinders, with the double-acting cylinders dominating the market as they offer high efficiency through bidirectional actions. By end-use industry, the market is segmented into industrial machinery, construction, aerospace and defense, mining, oil and gas, marine, automobile, and others. The industrial machinery segment dominates as pneumatic cylinders are widely used in various manufacturing machines, assembly lines, and material handling equipment in industries.

PEST Analysis
Political: Trade policies, import-export regulations and environmental standards related to industrial equipment across countries impact the demand for pneumatic cylinders.
Economic: A thriving manufacturing sectoralong with infrastructural developments in emerging economies boost the market growth. However, rising costs of raw materials pose challenges.
Social: Growing industrialization and urbanization especially in Asia Pacific drive the cylinder market. Changing demographics and rising living standards fuel demand for manufactured products.
Technological: Advanced materials, digital technologies and IoT solutions enablethe development of smart pneumatic cylinders with remote monitoring capabilities. This enhances productivity.

Key Takeaways
The Global Pneumatic Cylinder Market Size is expected to witness high growth over the forecast period due to rapid industrialization worldwide. The global pneumatic cylinder market is estimated to be valued at US$ 1361.34 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.

Regionally, the Asia Pacific market is expected to dominate as well as grow the fastest due to rising manufacturing activity, majorly in China, India and other Southeast Asian countries.

The key players operating in the pneumatic cylinder market include Eli Lilly and Company, Sanofi S.A., Cadila Healthcare Limited, Cipla Limited, Castle Biosciences, Regeneron Pharmaceuticals, Inc., Merck & Co., Inc., Vidac Pharma, LEO Pharma A/S, and Regeneron Pharmaceuticals, Inc., Merck Sharp & Dohme, and Amgen Inc. Eli Lilly and Company dominates the pneumatic cylinder market owing to its diversified product portfolio and strong global distribution network.Sanofi S.A. also has a significant market share due to its wide range of pneumatic cylinders used across industries.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it