Pneumatic Actuator Market Size to Grow by USD 960.65 million from 2022 to 2027; Increasing use of pneumatic actuators in food and beverage industry to boost the market growth

NEW YORK, June 29, 2023 /PRNewswire/ -- The pneumatic actuator market size is estimated to grow at a CAGR of 5.18% between 2022 and 2027. The market size is forecast to increase by USD 960.65 million, according to Technavio. The increasing use of pneumatic actuators in the food and beverage industry is a key factor driving market growth. The need for automated processes in the food and beverage industry is rapidly increasing due to the increase in demand for organic foods and tightening food safety regulations. The incorporation of automation and robotics is being included by the manufacturers in their product line to make the processes flexible and agile so that the demand from the retailer can be met. The new FDA regulations under the Food Safety Modernization Act have led pneumatic actuator suppliers to offer products in different designs and variants to meet the changing consumer demands. For instance, Parker Hannifin offers pneumatic actuators that are used in food and beverage applications. Hence, these factors are expected to drive the market growth during the forecast period. Discover some insights on the market size, historic period (2017 to 2021), and Forecast 2023-2027 before buying the full report -Request a sample report

Pneumatic actuator market – Vendor AnalysisVendor Landscape - The pneumatic actuator market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer pneumatic actuators in the market are ABB Ltd., AIRTECH PRODUCTS Inc., Automation Technology Inc., Crane Holdings Co., Eaton Corp. Plc, Emerson Electric Co., Festo SE and Co. KG, Flowserve Corp., Honeywell International Inc., Moog Inc., Nutork Corp., Parker Hannifin Corp., Pentair Plc, Robert Bosch GmbH, ROTEX Controls Inc., Rotork Plc, Schlumberger Ltd., Siemens AG, SMC Corp., and Tolomatic Inc. and others.

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Vendor Offerings -

ABB Ltd. - The company offers pneumatic actuators such as linear pneumatic and universal pneumatic rotary actuators.

Eaton Corp. Plc - The company offers pneumatic actuators such as Pneumatic tie-rod medium-duty cylinders, and Pneumatic mill-duty cylinders.

Emerson Electric Co. - The company offers pneumatic actuators such as Bettis G-Series Pneumatic Valve Actuator, Bettis RPE-Series Pneumatic Rack and Pinion Valve Actuator, and Bettis CBB-Series Scotch Yoke Pneumatic Valve Actuator.

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Pneumatic Actuator Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on end-user (chemical and petrochemical, oil and gas, power generation, mining, and others), product type (quarter-turn, multi-turn, and linear)

The market share growth in the chemical and petrochemical segment will be significant during the forecast period. The rise in the chemical industry in emerging markets has led to higher production rates of chemicals, and thus the transportation of these chemicals has also increased. As a result, the increase in specialty chemicals will drive the growth of the pneumatic actuators market. Smooth operation, minimal waste and downtime, and safe waste disposal with efficient production processes are the advantages of using pneumatic valves and actuators. Hence, the increasing production capacity of the chemicals is expected to drive the growth of the segment during the forecast period.

Geography OverviewBy geography, the pneumatic actuator market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global pneumatic actuator market.

North America is estimated to contribute 30% to the growth of the global market during the forecast period. The oil and gas industry makes a major contribution to the region. The demand for pneumatic actuators in the region is increased due to the huge oil sand deposits in Canada and shale oil in the US. The ongoing large-scale petrochemical projects and modernization of equipment and technology in oil and gas exploration are the factors increasing the demand for pneumatic actuators. Furthermore, the new Food and Drug Administration (FDA) regulations which are focused on hygiene and cleanliness are also increasing the demand for pneumatic actuators in the Food and beverage industry. Hence, the above-mentioned factors are expected to drive the market growth of the segment during the forecast period.

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Global Pneumatic Actuator Market – Market Dynamics

Key Trends

The adoption of IoT-enabled actuators for predictive maintenance is the major trend shaping the pneumatic actuator market.

These IoT- enabled actuators are used to improve accuracy and reduce production downtime by the manufacturers.

The cost of the low amount of downtime can be high in the oil and gas industry, chemicals, and mining.

As a result, manufacturers are adopting these actuators for monitoring cylinder speed, stroke, temperature, and pressure.

For Instance, B. Emerson has designed and developed edge gateways to collect data from machine components, compare performance to design parameters, and analyze it at the local factory level.

Hence, such advancements in pneumatic actuators are expected to drive market growth during the forecast period.

Major challenges

The high adoption of electromechanical and electric actuators is restricting the growth of the pneumatic actuator market.

The various features such as energy efficiency, safety, and control in electromechanical and electric actuators are becoming popular among customers.

The main reason for the popularity of electromechanical actuators over pneumatic actuators is the cost reduction.

Furthermore, they provide precise control and contribute to process flexibility as compared to the other actuators.

For instance, in February 2020, Emerson Electric Co. launched its ASCO Series 158 gas valve and Series 159 electric actuator.

Hence, these advantages of electromechanical and electric actuators are expected to pose a threat to market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Pneumatic Actuator Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the pneumatic actuator market between 2023 and 2027

Precise estimation of the size of the pneumatic actuator market and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the pneumatic actuator market across North America, Europe, APAC, South America, and the Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of pneumatic actuator market vendors

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The electric actuators market is estimated to grow at a CAGR of 5.19% between 2022 and 2027. The market size is forecasted to increase by USD 4,312.22 million. Furthermore, this report extensively covers market segmentation by end-user (automotive industry, water, and wastewater industry, marine industry, aerospace, and defense industry, and others), type (rotary and linear), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The growing demand for commercial and defense aircraft is a key factor driving the market growth during the forecast period.

The industrial valves and actuators market size is estimated to grow by USD 17,005.57 million from 2023 to 2027 and the market's growth momentum will accelerate at a CAGR of 4.63%. Furthermore, this report extensively covers market segmentation by product (industrial quarter-turn valves, multi-turn valves, industrial control valves, and industrial actuators), end-user (chemical and petroleum industry, water and wastewater industry, power industry, mining, and minerals industry, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The increasing investment in modernizing industrial facilities is a key factor driving the market growth during the forecast period.

Pneumatic Actuator Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.18%

Market growth 2023-2027

USD 960.65 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.72

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 30%

Key countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., AIRTECH PRODUCTS Inc., Automation Technology Inc., Crane Holdings Co., Eaton Corp. Plc, Emerson Electric Co., Festo SE and Co. KG, Flowserve Corp., Honeywell International Inc., Moog Inc., Nutork Corp., Parker Hannifin Corp., Pentair Plc, Robert Bosch GmbH, ROTEX Controls Inc., Rotork Plc, Schlumberger Ltd., Siemens AG, SMC Corp., and Tolomatic Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market Overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market Definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global pneumatic actuator market 2017 - 2021

4.2 End-user Segment Analysis 2017 - 2021

4.3 Product Type Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by End-user

6.1 Market segments

6.2 Comparison by End-user

6.3 Chemical and petrochemical - Market size and forecast 2022-2027

6.4 Oil and gas - Market size and forecast 2022-2027

6.5 Power generation - Market size and forecast 2022-2027

6.6 Mining - Market size and forecast 2022-2027

6.7 Others - Market size and forecast 2022-2027

6.8 Market opportunity by End-user

7 Market Segmentation by Product Type

7.1 Market segments

7.2 Comparison by Product Type

7.3 Quarter-turn - Market size and forecast 2022-2027

7.4 Multi-turn - Market size and forecast 2022-2027

7.5 Linear - Market size and forecast 2022-2027

7.6 Market opportunity by Product Type

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 APAC - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 Canada - Market size and forecast 2022-2027

9.12 Japan - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 ABB Ltd.

12.4 AIRTECH PRODUCTS Inc.

12.5 Crane Holdings Co.

12.6 Eaton Corp. Plc

12.7 Emerson Electric Co.

12.8 Festo SE and Co. KG

12.9 Flowserve Corp.

12.10 Honeywell International Inc.

12.11 Nutork Corp.

12.12 Parker Hannifin Corp.

12.13 Robert Bosch GmbH

12.14 ROTEX Controls Inc.

12.15 Rotork Plc

12.16 Schlumberger Ltd.

12.17 SMC Corp.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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