The Pneumatic Equipment Market was valued at USD 79.93 billion in 2020 and expected to reach USD 140.84 billion by 2026 and grow at a CAGR of 7.34% over the forecast period (2021-2026). The advent of jet engines for military and passenger aircrafts had stimulated the use of centrifugal and axial-flow compressors. Further, the evolution of labor-saving devices, automatic machinery, and automatic-control systems directed to an increase in the use of pneumatics.

- The extensive use of pneumatics technology for packaging machines to drive motion and actuate machine sequences has garnered more interest by machine designers and end-users as to how pneumatics can improve safety and safe operating functionality in their equipment is boosting the growth of the market.

- The consistent increase in demand from manufacturing industries due to the execution of small and large projects and to improve the efficiency of a range of industrial projects across the globe is a major factor estimated to drive the pneumatic hammers market over the forecast period.

- The increasing urbanization across developing economies of Asia Pacific, Middle East & Africa, and Latin America region due to metal forging and shaping applications in various industries is expected to boost the pneumatic equipment market.

Key Market Trends

Pneumatic Vales to Hold Significant Share

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- The pneumatic valves' growth is driven by factors such as the expanding use of pneumatic valves in the manufacturing and mechanical domain. Additionally, the increasing usage in heavy automobiles is anticipated to propel the market growth in the forecast period. However, circumstances such as high-end maintenance and shortage of skilled personnel are expected to impede the market growth during the forecast period.

- A common interest for OEMs, in developing a lean, mean machine which can be mass customized and sold to multiple markets with the least/minimum amount of modifications, is driving the growth of pneumatic valves in industrial equipment.

- Pneumatic valves and meeting machine safety regulations are proving to be a successful strategy in the machine-building world. This interest in the part has resulted from the globalization of the machining marketplace and intent to sell in multiple regions, presenting pneumatic technology to be increasingly used. Overall, integrating safety technology and pneumatic valves are intensifying system reliability, elongating operation life, and satisfying those safety regulations.

North America to Hold Major Share

- According to the US Department of Energy, the compressed air systems account for 10% of all electricity and roughly 16% of all motor system energy use in US manufacturing industries. It also states that 70% of all manufacturing facilities in the United States have some form of the compressed air system. Most of these systems offer compressed air to drive a variety of equipment in a provided plant, including machine tools, painting booths, materials separation, and materials handling.

- The increase in production and sales of commercial vehicles and off-highway trucks, along with the increased production of the railway and high-speed trains production, are driving the growth of the market studied in the region.

- According to Roland Berger, 0.49 million units of medium and heavy-duty trucks were produced in the region in 2019, and it further estimates that in 2021 0.52 million units of medium and heavy-duty trucks would be produced. Such an increase in the production of vehicles would drive the adoption of the pneumatic equipment market.

- Further, the new FDA rules in the US stated as part of the Food Safety Modernization Act, which recommends stringent requirements for decontamination and hygiene. This will consequently compel suppliers and packagers to satisfy their needs for proper equipment cleaning. Compared to hydraulic and other mechanical equipment, the pneumatic equipment is cleaner, which enables their usage for significant applications in the food processing industry. Such regulations enable the strong growth of the market in the region.

Competitive Landscape

The global pneumatic equipment market is fragmented, due to the presence of several prominent players such as Parker Hannifin, Festo Corporation, and Eaton Corporation among others in the market. Moreover, the market consists of various local vendors. In order, to leverage market share over these local players, the players are adopting merger and acquisition strategies.

- October 2019- Festo launched two new product lines, the Simplified Motion Series and CPX-AP-I remote I/O. The Simplified Motion Series of these electric drives combines the pneumatics with the benefits of electric automation. The Festo remote I/O system CPX-AP-I is designed to improve the performance of mixed valve terminals and I/O systems, which is compatible with most communication protocols, including EtherNet/IP, PROFINET, and EtherCAT.

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