In the face of high demand for minerals, commodity prices in rapidly-developing economies such as India and China are recovering actively. Mining of gold, silver, zinc, copper and other highly-valuable metals is witnessing a rise in terms of investments, bolstering the recovery of mining industries across several parts of the world. Being essential tools for extraction and offshoring processes, pneumatic actuators are witnessing higher demand from mining end-users. Future Market Insights recently published a report on the global market for pneumatic actuators, indicating that resurgence of mining businesses especially in Latin American countries such as Peru and Mexico is fuelling the growth in global sales of pneumatic actuators.
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According to the report, the global pneumatic actuators market is pegged to reach US$ 12.5 Bn value by the end of 2017. Growing applications of pneumatic actuators is expected to drive the growth of global pneumatic actuator market, which is expected to soar steadily at 4.8% CAGR and bring in revenues worth over US$ 19.8 Bn by 2027-end. The report assesses that the pneumatic actuator market is facing restraints from environmental concerns, regulatory developments, limitations arising from a region’s indigenous rights, and emergence of advanced technologies. Advent of electrical and hydraulic actuators is cited to dissipate the global demand for pneumatic actuators. Nevertheless, the market is likely to witness opportune growth from application of pneumatic actuators in healthcare sector.
Human scale assistive fluid power applications in the global medical industry are promptly adopting pneumatic actuators. Another lucrative application for pneumatic actuators lies in patient rehabilitation and MRI-compliant surgeries & treatments. Transportation, food & packaging, and mining are observed to be key applications of pneumatic actuators. In 2017, global sales of pneumatic actuators in mining and transportation applications will be accounting for close to 60% of global market revenues.
By capacity, sales of light duty pneumatic actuators are estimated to account for a higher market share throughout the forecast period. The predominantly high presence of light duty pneumatic actuators in industries, such as automotive, pharmaceutical, white goods and food & packaging industries is primarily attributing to the growth of this segment. In 2017 and beyond, it is anticipated that over 60% of global market value will be accounted by sales of pneumatic actuators that facilitate double acting operations. Scotch Yoke-based pneumatic actuators are likely to be top-selling products in the global market, recording sales of more than 25 million units towards the end of 2027.
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The report also projects that pneumatic actuators market in Western Europe will register significant growth, accounting for more than 30% of global revenues through 2027. Technological advancements in North America will render this region among leading regions in the global pneumatic actuators market. Demand for pneumatic actuators in the Asia-Pacific excluding Japan (APEJ) region is also expected to gain traction during the forecast period. Key manufacturers of pneumatic actuators are profiled in the report as the global market’s leading participants, and they include companies such as Camozzi SPA, Bosch Rexroth AG, Flowserve Corporation, Omal S.P.A, Air Torque S.P.A, Emerson Electric Co. Ltd., Actreg S.A., Bray International Inc., Enolgas Bonomi S.P.A., Metalúrgica Varb, Festo AG & Co. KG, Rotark Plc, SMC Corporation, ABB Ltd., Elfor Controls Srl, Habonim Industrial Valves & Actuators Ltd., Johnson Controls Inc., Parker Hannifin Corp, Metal Works SPA and IMI Precision- Norgren.
Queries regarding these research findings can be addressed to Future Market Insights’ analysts at [email protected]