Global Smart Pneumatics Market Data 2024, Forecast To 2033
8 Mar, 2024
The smart pneumatics market has shown strong growth, increasing from $4.42 billion in 2023 to $4.75 billion in 2024, at a CAGR of 7.4%. This growth is attributed to factors such as industrial automation demand and energy efficiency. Predicted to reach $6.1 billion in 2028, with a CAGR of 6.5%, growth will be driven by increasing healthcare expenditure and advancements in technology. Major trends include AI integration and cloud-based solutions.
Global Smart Pneumatics Market Key Driver
The smart pneumatics market is poised for growth due to increased production of commercial vehicles. Commercial vehicles, essential for transportation and logistics, rely on smart pneumatics for enhanced performance and predictive maintenance. Notably, data from the European Automobile Manufacturers Association highlights the steady increase in commercial vehicle counts in the European Union. This rise in commercial vehicle production is driving demand for smart pneumatics, which play a crucial role in optimizing vehicle systems and improving operational efficiency, leading to growth in the market.
Get A Free Sample Of The Global Smart Pneumatics Market ReportGlobal Smart Pneumatics Market Segments
The smart pneumatics market covered in this report is segmented –
1) Component:Hardware, Software, Services
2) Distribution Channel:Direct, Indirect
3) Industry:Oil And Gas, Energy And Power, Water And Wastewater, Automotive, Semiconductor, Food And Beverage
By Geography: The countries covered in the smart pneumatics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
Major Smart Pneumatics Industry Players
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.
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Smart Pneumatics Market Overview
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.