Smart Pneumatics Market Forecasts to 2028 – Global Analysis By Type (Smart Pneumatic Valve, Smart Pneumatic Actuator, Smart Pneumatic Module and Other Types), Component Type (Hardware, Software and services, Cylinders, Fittings and Sensor), End Users (Aut

Smart Pneumatics Market Forecasts to 2028 – Global Analysis By Type (Smart Pneumatic Valve, Smart Pneumatic Actuator, Smart Pneumatic Module and Other Types), Component Type (Hardware, Software and services, Cylinders, Fittings and Sensor), End Users (Automotive, Semiconductor, Food & Beverage and Energy & Power) and By Geography

According to Stratistics MRC, the Global Smart Pneumatics Market is accounted for $4.43 billion in 2022 and is expected to reach $7.72 billion by 2028 growing at a CAGR of 9.7% during the forecast period. Engineering that uses gas or pressurized air is called pneumatics. Compressed air or compressed inert gases are frequently used to power pneumatic systems in industry. Smart pneumatic actuators use sensors and other electronics to give controllers operational feedback such as speed, force, end-of-travel, stroke length, and cycle time. The gathered information enables condition monitoring to assess whether an actuator is operating as intended.

According to vXchnge Holdings Inc., over 80% of manufacturing organizations are using or planning to use IoT devices to improve energy efficiency and production uptime. Thus, the adoption of smart pneumatics systems is likely to increase since it can help to meet this demand by providing reliable and efficient automation solutions.

Market Dynamics:

Driver:

Predictive maintenance is becoming more popular

The market is being driven by an increase in awareness of predictive maintenance as a result of the development of Industry 4.0 and sophisticated smarter technologies. Predictive maintenance can save up to 12 percent over scheduled repairs, cut maintenance costs overall by up to 30 percent, and prevent up to 70 percent of breakdowns, according to Accenture. For fluid power systems, this entails a completely new level of condition and remote monitoring, to the point where maintenance staff can ascertain whether or not some obstacles have arisen.

Restraint:

Lack of a standard ethernet platform

Since these devices can be easily integrated into wireless systems across the IoT industry via these gateways, the lack of a common platform for Ethernet, Zigbee, and Profibus is preventing the market from expanding. In addition, the market for smart pneumatics faces difficulties expanding because of a lack of integration in the industrial and manufacturing sectors.

Opportunity:

IoT and digitization adoption

Digitalization and IoT adoption are propelling the market. Over 80% of industrial manufacturing companies use or plan to use IoT devices for increased production uptime and improved energy efficiency, according to vXchnge Holdings Inc. In the upcoming years, this will increase the demand for smart pneumatics. To make it convenient and simple for users of pneumatic systems to see the potential advantages of integrating IIoT, Emerson recently released a new tool in May 2019. The new AVENTICS Smart Pneumatics Analyzer can be connected to an existing machine's pressurized air supply to provide users with instantaneous analysis options for important machine characteristics like compressed air consumption and potential leaks.

Threat:

High component prices

The high cost of components is one of the biggest problems the pneumatic market has to deal with. When compared to other comparable products on the market, the price of pneumatic components is quite high. Because of this, it is challenging for the manufacturers to set competitive prices for their goods.

Covid-19 Impact:

The COVID-19 epidemic has resulted in the closure of a large number of construction sites, power plants, chemical storage facilities, technology advancement companies, and other businesses. It is anticipated that this will continue throughout the forecast period, which has recently seen a slowdown in demand for the smart pneumatics market. Smart pneumatics market size and sales have already been impacted by COVID-19. All year long, it's anticipated to negatively impact market growth. Prior to the spread of the coronavirus, the largest markets for manufacturing, including the United States, Germany, Italy, the United Kingdom, and China, had the highest demand for smart pneumatics. As a result, these markets' smart pneumatics market share and demand have declined.

The automotive segment is expected to be the largest during the forecast period

The automotive sector held the largest market share for smart pneumatics. The number of automobiles produced each day across the globe is significantly increasing. To reduce production cycle times and boost output, the equipment on the production floor needs to be properly maintained. In order to ensure effective manufacturing processes, intelligent pneumatic systems are essential. IIoT systems are being used by automakers to improve energy efficiency and track the health of their assets. As a result, the automotive industry is seeing huge potential for smart pneumatics.

The software and services segment is expected to have the highest CAGR during the forecast period

The software and services segment is anticipated to grow at the fastest rate during the forecast period. A smart pneumatic system cannot function without software, which collects, processes, and analyzes the raw data extracted by hardware components. There are numerous software options on the market that utilize various technologies but primarily offer some basic features like data integration, diagnostic reporting, order tracking analysis, and parameter calculation. Manufacturers are concentrating on providing monitoring services, including data extraction and analysis.

Region with highest share:

The market for smart pneumatics was dominated by APAC. Smart pneumatics are in great demand in the area as a result of the expanding use of smart manufacturing, or Industry 4.0, across many industries. APAC is seeing a rise in demand for smart pneumatic systems due to factors like a growing emphasis on optimal asset utilization, strict government regulations for personal and workplace safety, and strict quality control in the automotive, semiconductor, chemicals, and food and beverage industries.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. The Asia-Pacific region's growing population, rising industrialization, and quickening urbanization, particularly in developing nations like China and India, will cause an increase in demand for agricultural goods, food, and chemicals, the production of which uses pneumatic machinery. This is the only region in recent years to record an increase in oil and gas capacity, and four new refineries were added there, increasing global crude oil production by about 750,000 barrels per day.

Key players in the market

Some of the key players in Smart Pneumatics market include Aventics GmbH , Bimba Manufacturing Company, Bosch Rexroth AG, Cypress EnviroSystems Corp , Eaton, Emerson Electric Co. , Festo Corporation , Ingersoll-Rand plc, Metso Corporation, Ningbo Smart Pneumatic Co. Ltd , Parker Hannifin Corporation , Rotex Automation Limited , Rotork PLC and Thomson Industries Inc.

Key Developments:

In July 2018, Emerson Electric acquired Aventics GmbH (Germany) a global leader in smart pneumatics technologies that power machines and factory automation applications.

In February 2018, Bimba Manufacturing was acquired by Norgren Ltd.’s IMI Precision Engineering business unit (US). This created a significant opportunity to enhance IMI Precision Engineering’s position in the US Industrial Automation market and grow the Bimba brand internationally.

In December 2017, Thomson Industries launched smart actuators with integrated electronics, such as sensors and communications technologies, to meet the demand for improved connectivity, application flexibility, and cost efficiency as well as to build smart machines for factory automation applications.

Types Covered:
• Smart Pneumatic Valve
• Smart Pneumatic Actuator
• Smart Pneumatic Module
• Other Types

Component Types Covered:
• Hardware
• Software And Services
• Cylinders
• Fittings
• Sensor
• Communication Equipment
• Data Integration Software
• Diagnostic Reporting
• Parameter Calculation
• Other Component Types


End Users Covered:
• Automotive
• Semiconductor
• Food & Beverage
• Energy & Power
• Water & Wastewater
• Construction
• Oil & Gas
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements