The industrial boom in emerging markets has led to a greater consumption of minerals globally. Mining of copper, zinc, silver, gold and other valuable metals has certainly escalated, owing to higher investments and rising demand. This has helped the mining industry to make a quick recovery. Modernization of mining techniques is translating into integration of innovative technology and equipment, including pneumatic actuators.
A new study conducted by Research Report Insights finds that demand for pneumatic actuators market has surged from mining end-users to a significant extent. Resurgence of miming businesses particularly in Latin American countries including Mexico and Peru is reflecting favorably on the global pneumatic actuators market. Towards the end of 2017, the global market for pneumatic actuators is estimated to surpass a valuation of US$ 12000 Mn. Increasing application of pneumatic actuators in mining sites is driving their global sales. Apart from its growing application in mining procedures, pneumatic actuators is steadily gaining traction in the healthcare sector as well. Pneumatic actuators are being utilized in conducting MRI-compliant surgeries & treatments and patient rehabilitation procedures. In addition, pneumatic actuators are fining application in food & packaging and transportation sectors. The mining and transportation industry is expected to represent nearly 60% revenue share of the global pneumatic actuators market in 2017.
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The global pneumatic actuators market is projected to reflect a steady CAGR and garner more than US$ 19000 Mn in revenues by 2027. However, this growth is subjected to implications of environmental regulations, obligations of safeguarding region’s indigenous rights and arrival of alternative technologies. Introduction of hydraulic and electrical actuators is likely to disrupt the progress of the market in the near future. The study also reveals that light duty pneumatic actuators sales will continue to gain momentum during the over the next couple of years. This is primarily owing to the wide-spread adoption of light duty pneumatic actuators in industries such as pharmaceutical, automotive, and food packaging. The study reveals that pneumatic actuators that support double acting operations will represent for more than 60% value share of the global market in 2017 and beyond. On the basis of product type, scotch Yoke-based pneumatic actuators segment is expected to retain its leading position over 2027, reaching a market valuation of over 25 million.
Among regions, Western Europe will continue to be an attractive market for pneumatic actuators throughout the assessment period. In addition, the region’s pneumatic actuators market is expected to account for over 30% market share in terms of revenue over 2027. Meanwhile, availability of leading-edge technology in the North America region is expected to solidify the market’s strong position in the region. In Asia-Pacific excluding Japan (APEJ) region, sales of pneumatic actuators is anticipated to surge further during the forecast period.
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Leading players operating in the global market for pneumatic actuators include IMI Precision- Norgren, Bosch Rexroth AG, Air Torque S.P.A, Actreg S.A., Enolgas Bonomi S.P.A., Festo AG & Co. KG, SMC Corporation, Habonim Industrial Valves & Actuators Ltd., Flowserve Corporation, Camozzi SPA, Parker Hannifin Corp, ABB Ltd., Omal S.P.A, Emerson Electric Co. Ltd., Bray International Inc., Metalúrgica Varb, Rotark Plc, Elfor Controls Srl, Johnson Controls Inc., and Metal Works SPA