PUBLISHER: Grand View Research | PRODUCT CODE: 1530231
PUBLISHER: Grand View Research | PRODUCT CODE: 1530231
Pneumatic Actuators Market Size & Trends
The global pneumatic actuators market size was estimated at USD 51.71 billion in 2023 and is forecasted to grow at a CAGR of 5.2% from 2024 to 2030. This growth is attributed to the increasing adoption of automation in various end use industries including automotive, food & beverage, manufacturing, and oil & gas in order to achieve efficiency, improve precision in operations, and reduce downtime in industrial facilities. Furthermore, this product is considered to be cost-effective when compared to electric and hydraulic actuators. Therefore, making them an attractive option for industries.
Pneumatic actuators have the ability to operate in harsh industrial environments on account of their robustness. This makes them an ideal option for industries where durability and reliability are important factors such as chemical processing and the oil & gas sector. Various end use industries such as automotive, healthcare, aerospace, and food & beverage are witnessing growth owing to the development of countries and increasing per capita income of consumers. This is expected to create new growth opportunities for the pneumatic actuator manufacturers as these products play crucial role in many applications in these industries.
The industry is witnessing continuous technological advancements in terms of the product manufacturing process. Manufacturers are involving control systems and smart sensors in the production to enhance the appeal and performance of pneumatic actuators. In addition, the development of energy-efficient pneumatic systems is further contributing to the rising demand for pneumatic actuators over the coming years.
Although, a few factors such as the requirement of regular maintenance in order to ensure performance and the vibration & noise generated by the product may act as a restraining factor for the market growth. Moreover, when used in continuous operations, pneumatic actuators can be less energy efficient when compared to electric actuators. However, stringent standards and regulations by various governments of countries related to the use of pneumatic actuators in industries that require contaminant-free and clean operations are expected to drive the market growth.
Global Pneumatic Actuators Market Report Segmentation
This report forecasts revenue growth at the global, regional & country levels and provides an analysis of the industry trends in each of the segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the pneumatic actuators market report based on motion type, end use, and region:
U.S.
Canada
Mexico
Germany
UK
France
Italy
Spain
China
Japan
India
South Korea
Brazil
Argentina