Global Pneumatic Tube System Market 2022-2028

Global Pneumatic Tube System Market 2022-2028

Global Pneumatic Tube System Market Size, Share, & Analysis by function (semi-automatic, fully automatic) by system configuration(single-line, multi-line, and point-to-point), and by end-user (medical , commercial, industries, and others (entertainment & government). Pneumatic tube systems are considered a reliable and efficient alternative to transporting materials within and between premises. Pneumatic transport systems can be simply integrated with current manufacturing and robotic systems. The global pneumatic tube system market is estimated to grow at a CAGR of 6.6% during the forecast period (2021-2028). The global pneumatic tube system market was valued at around $1.6 billion in 2021 and is anticipated to reach nearly $2.4 billion in 2028. The key aspect that drives the growth of the market includes the increased demand for automation across various industries such as retail and manufacturing across the globe. The pneumatic tube systems provide improved accuracy, productivity, and efficiency as these systems allow the companies to reduce the cost by minimizing labor costs. These systems also reduce the travel time associated with picking and handling business services. Thus, increasing focus on automation in industrial processes along with the rising industrialization is offering lucrative opportunities for the adoption of these systems. There is a major concern for the safe transportation of the samples in the laboratories and hospitals. Managing supplies across several departments of hospitals, clinics, and other healthcare facilities can be a time consuming task and even may find the issues of sample ruptures. In this case, the use of a pneumatic tube system can ensure that supplies are handled rapidly, cleanly, and safely, and without being damaged. The outbreak of the COVID-19 has also encouraged the adoption of pneumatic system tubes across the industries. For instance, on July 4th, 2021, the Centers for Disease Control and Prevention (CDC), released the guidance to use pneumatic tube systems for the transport of specimens from suspected or confirmed COVID-19 patients, especially for the clinical laboratory professionals. Thus, this may create a significant scope for the market growth. Moreover, the lack of a skilled workforce and high labor costs fosters the implementation of automation in various end-user industries in developed and developing countries. Although the initial installation cost of implementing a pneumatic tube system is higher, nevertheless once implemented, it delivers high productivity, efficiency, and profits. Many organizations have implemented industrial robotics solutions to reduce their labor costs and improve efficiency. Moreover, labor wages are on the rise, which is also expected to create an upsurge in labor costs during the forecast period.

MARKET SEGMENTATION

The global pneumatic tube system is segmented based on system type, function, and end-user. Based on system type, the market is classified into single-line, multi-line, and point-to-point. Amongst these, the multi-line system segment held the highest market share of 64.2% accounted for around $1.0 billion in 2021, and is estimated to reach around $1.6 billion in 2028, growing at the highest CAGR of 7.0% during the forecast period. The multi-line pneumatic tube system segment growth is attributed to the higher demand from the hospital's facilities owing to its bi-directional transfer functionalities. Based on function, the market is classified into semi-automatic, and fully automatic. Amongst these, the fully automatic pneumatic tube systems are gaining more traction in the market. The market for fully automatic pneumatic tube systems is growing at the highest CAGR of 7.0% during the forecast period owing to the innovations and advancements by the key players in the systems. For instance, Air-Log International GmbH provides an automatic pneumatic system designed for up to 255 zones and 32,000 stations along with digital addressing systems especially for medium to large companies. Whereas, based on end-user, the market is classified into medical, commercial, industrial, and other. Amongst these, the medical segment is likely to register a significant market share of 51.1%, accounted for $803 million in 2021, and is anticipated to reach around $1.3 billion in 2028. The market for pneumatic tube systems in the medical segment is growing at a CAGR of 6.6% attributed to the demand from pharmacies, laboratories, blood banks, surgery centers, emergency departments, and nursing stations, as well as other locations throughout a hospital campus. Pneumatic tube systems for the hospital can efficiently transport drugs, medical and patient reports, X-ray films, tissue samples, and blood specimens to and from laboratories, pharmacies, nurse’s stations, blood banks, and the emergency department.

Further, the commercial segment is growing at the highest CAGR of 7.2% during the forecast period. The market for pneumatic tube systems in the commercial segment was $433 million in 2021 and is estimated to reach $728 million in 2028. The market growth is attributed to extensive demand from the retail, logistics, and warehouse industry to cost-effectively perform the transportation of cash, documents, materials, and other physical products from point-to-point. In the retail sector, these systems are used for the seamless transportation of cash and products. Pneumatic tube systems substantially save money by improving the operational efficiency of moving cash and increase security by reducing company exposure to external and internal theft among several warehouses and retail stores. For instance, stores such as Walmart, Home Depot, Lowe’s, and IKEA are several retailers across the globe that use pneumatic tube systems for the seamless transportation of cash and products, safely and quickly. The use of these systems also prevents loss or cash theft across the stores. Thus, the rise in such retail stores and warehouses are likely to drive the growth of the market.

GEOGRAPHICAL ANALYSIS

From the demographic viewpoint, the market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America held the highest market share of 36.9%, accounted for $580 million in 2021 and is estimated to reach $893 million in 2028, growing at a CAGR of 6.5% during the forecast period. The market in North America is driven by significant healthcare infrastructure spending by government to automate the facilities. Further, the significant automation in banks, retail stores, and logistics is also contributing to the market growth. Further, the market in the Asia-Pacific region is growing at the highest CAGR of 7.6% attributing to rapid industrialization in the region. Factors such as rapid growth in the e-commerce industry, thriving manufacturing sector, rising number of clinical research activities, and growing government expenditure on medical and healthcare facilities also drive the market in the emerging economies of the region. Further, the increased emphasis of the government towards increasing safety and security on production floors in the manufacturing plants also encourages the adoption of these systems. In the Asia-Pacific region, China held the highest market valued at $187 million in 2021 and is anticipated to reach $306 million in 2028. Several initiatives to automated industries are the primary factor contributing to the market in the country. For instance, in May 2015, the Chinese Government introduced the Made in China (MIC) 2028 initiative which comprises a range of state-backed programs that aim to accelerate productivity, modernize the Chinese economy, and make innovations in industrial processes.

COMPETITIVE ANALYSIS

The prominent players operating in the market include Aerocom Systems, Inc., Swisslog Holding AG (Kuka AG), Eagle Pneumatic, Inc., Hanter Ingenjörsteknik AB, Air-Log International GmbH, Ing. Sumetzberger GmbH, Pevco, and SIEBTECHNIK GmbH. These companies are offering a range of pneumatic tube systems for several industries, including chemical, pharmaceutical, food and beverages, and the automotive industry. These key manufacturers are continuously contributing to the market growth by adopting various strategies such as partnership, R&D, mergers and acquisitions, product launches, and innovations among others to strengthen their product portfolio and maintain a competitive position in the global market. Continuous improvement and product launches enable the market players to offer high-value products and services in the market across the globe. For instance, in April 2021, KUKA AG (Swisslog Healthcare) showcased an industry standard-setting pneumatic tube system and autonomous service robot at AONE19. In August 2018, KUKA AG opened its technology center, in Broomfield (US). The new technology center houses four key functional and operational areas, including, the automation academy, global manufacturing, and distribution facility, design and engineering lab, and customer care center. Further, the TransLogic Pneumatic Tube System with Nexus Station and Savioke Relay Robot offers nursing staff convenient material transport with the highest levels of security to facilitate efficient workflow.