April 24, 2024
Pneumatic Cylinder Market

Pneumatic Cylinder Market to Witness Robust Growth Due to Rising Industrial Automation

The pneumatic cylinder market has been gaining significant traction over the recent years mainly due to the broadening scope of applications in industries such as automotive, food & beverages, semiconductor & electronics, and plastics among others. Pneumatic cylinders are hydraulic actuators that convert compressed air into linear mechanical motion. Their integration into industrial equipment provides an efficient and cost-effective means of automating mechanical operations. Some key advantages of pneumatic cylinders include high powered operations, low friction movements, self-locking capabilities, easy controllability and maintenance.

The global pneumatic cylinder market is estimated to be valued at US$ 1568.27 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the pneumatic cylinder market are Sinopec Corporations, LyondellBasell Industries Holdings N.V., ExxonMobil Chemicals, and Petrochina Company Limited. These companies occupy a significant share of the market owing to their well-established regional and global distribution networks and wide product portfolios.

The market is expected to witness promising growth opportunities owing to the rising adoption of industrial automation across developing economies of Asia Pacific and Central & South America. Automation enables higher productivity and quality at reduced costs.

Global expansion of the market will be mainly driven by capacity expansions and new product launches by key players. Focus on tapping opportunities in emerging industrial bases through strategic partnerships and mergers & acquisitions is expected.

Market Drivers

Rising industrial automation is a major factor driving the growth of Pneumatic Cylinder Market Size. Automation brings operational efficiencies and helps optimize resource utilization for industries. This has triggered wider integration of pneumatic actuators across applications like assembly lines, packaging machinery, pick & place systems etc. Increased focus on Industry 4.0 and smart factory adoption will further propel the demand.

PEST Analysis

Political: Changes in trade policies and agreements between countries will impact the trade of pneumatic cylinders. For example, new tariffs could increase import/export costs.

Economic: Global economic growth and performance of key industries like manufacturing and construction will shape demand for pneumatic cylinders. Recessionary conditions may negatively impact the market.

Social: shifting demographics and lifestyle changes will affect certain end-uses of pneumatic cylinders over time. Growing elderly population may decrease demand from industries like manufacturing.

Technological: Advancements in industrial automation technologies involving robotics, artificial intelligence, and internet of things are driving increased integration of smart pneumatic components. This is expected to present new opportunities for pneumatic cylinders manufacturers. New technologies focused on efficiency, size reduction, and predictive maintenance could open up new application areas.

North America currently holds the largest share of the global market value owing to highly developed manufacturing and automotive industries in US, Canada and Mexico. Growth rates are relatively stable as the region is an established market.

The Asia Pacific region excluding Japan is expected to be the fastest growing market during the forecast period. This can be attributed to rapid industrialization and infrastructure development in major economies of China and India. Expanding manufacturing activities and construction sectors will drive strong demand for pneumatic cylinders across various end-use industries. Government initiatives to modernize industries are further supporting market growth in the region.

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