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Pneumatic Cylinder Market to Surpass US$ 1,401 Million by 2026

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Pneumatic Cylinder Market to Surpass US$ 1,401 Million by 2026

February 21
16:09 2019

Pneumatic Cylinder Market
The research report on Pneumatic Cylinder Market is segmented by Function, By Cylinder, By Movement, By Application and by Geography – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

The global pneumatic cylinder market was valued at US$ 1,072 million in 2017, and is projected to reach US$ 1,401 million 2026, registering a CAGR of 3.0% over the forecast period from 2018 to 2026, according to Pneumatic Cylinder Market Report, the Market is Segmented By Function (Single-acting and Double-acting), By Cylinder (Cylinders with piston rods, Rod less cylinders, Diaphragm cylinders, and Rotary cylinders), By Movement (Linear Movement and Rotary Movement), By Application (Industrial, Robotics, Automobile, Aviation, Healthcare, and Others), and by Geography.

The major players operating in the global pneumatic cylinder market include SMC Corporation, Festo, Parker Hannifin Corporation, Aventics, Aro (Ingersoll Rand), Univer Group, Camozzi, Metal Work, AirTac, Ashun Fluid Power Co., and others

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Increasing adoption for robotics in various industries such as automotive, electrical and electronics, mechanical, chemicals, food and beverages, and pharmaceuticals is one of the key factors for growth of the pneumatic cylinder market. Double-acting pneumatic cylinder is one of the major components of robots, using pneumatics cylinders as a main motion power source. Factors such as increased efficiency, reduction in human errors, requirement for clean and contamination free production area, efficient process management, appropriate usage of raw materials enables reduction in wastage, depletion in production time leading to rise in production levels are some of the key factors supporting high demand for robots in industry areas. For instance, according to International Federation of Robotics, in China, 68,556 multipurpose industrial robots were shipped in 2016, and projected to reach 160,000 units by 2019. Hence, this increasing demand for multipurpose industrial robots directly increases growth of the pneumatic cylinder market, globally.

In addition to this, increasing construction industry, in turn increases demand for earth moving equipment, which will boost growth of the market. For instance, according to the Chartered Institute of Building, the global construction industry accounted to US$ 8 trillion in 2015, and is projected to reach US$ 17.5 trillion in 2030, accounting 14.7% of the global GDP. Increasing urban population increases demand for earth moving equipment globally, which boosts the market growth. According to the Population Reference Bureau, in 2017 the world population was 7,536 million out of which 54% (about 4069 million) of the population lives in urban areas. Moreover, according to the Population Reference Bureau, 78% of the developed countries’ population lives in urban areas, while 49% population of emerging countries lives in urban areas. Hence, this increasing demand for earth moving equipment directly accelerates growth of the pneumatic cylinder market.    

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Key Takeaways of the Market:

Asia Pacific is expected to witness the highest CAGR with XX% over the forecast period. India, China, and Japan are the major growth engines in this region. Increasing demand for earth moving equipment in Asia Pacific is one the key factors for increasing growth of the pneumatic cylinder market. Growing mining industry has significantly increased demand for earth moving equipment in this region. For instance, according to World Mining Congress, the mining production in Asia Pacific was pegged at 9.8 billion metric tons in 2016, and is expected to reach 11 billion metric ton by 2021.

 

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

 

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