Advancements in miniatures and equipment fitted with sensors to spawn additional revenue streams
LONDON, Dec. 11, 2015 /PRNewswire/ -- Since pneumatic systems are not energy-efficient by nature, the integration of pneumatic equipment with electronics will address the need for compact, efficient solutions in the global market. This is especially crucial as the stringent enforcement of environmental regulations spurs the demand for energy-efficient products across industries.
New analysis from Frost & Sullivan, Global Pneumatic Market Factbook, finds that the market earned revenues of $10.51 billion in 2014 and estimates this to reach $13.09 billion in 2019. Emerging regions, especially Brazil, Russia, India, China and South Africa will evolve into key markets for pneumatic products.
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"The need for solutions equipped with advanced sensor technologies that help monitor equipment performance will fuel advancements in pneumatic products," said Frost & Sullivan Manufacturing 4.0 Research Analyst Kiravani Emani. "Focus on miniaturisation will also boost operational excellence and broaden the scope of applications for pneumatic systems."
The automotive, food processing and packaging industries will account for a bulk of the market's share, primarily due to the stringent emission and safety regulations governing these sectors. The electronic and semiconductor industry too will contribute significantly to market revenues owing to the increasing automation of manufacturing facilities.
However, regional manufacturers may be unable to fully capitalise on these prospects as low-cost manufacturers continue to make the most of the price sensitivity of customers. Chinese imports, in particular, present a big threat. Furthermore, the shortage of qualified and skilled personnel to develop novel solutions and selling techniques will stall innovation.
"Established vendors are investing in intelligent products that facilitate application connectivity in order to overcome the challenges posed by cheap imports and, in the long term, to profit from the anticipated surge in demand post 2020," noted Emani. "They are also offering value-added benefits to enhance customer services and widen their footprint in the global pneumatic market."
Global Pneumatic Market Factbook is part of the Mechanical Power Transmission Growth Partnership Service program. Frost & Sullivan's related studies include: North American Pneumatic Equipment Market, Global Machine Safety Systems Market, Global Motion Controllers Market and Global Oil-free Compressors Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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