Pneumatic cylinders are mechanical devices used for linear and reciprocating movement applications primarily in industrial process equipment and machineries. They operate using compressed air or gas as the operating medium and are easy to operate with low maintenance requirements. Pneumatic cylinders help in performing repetitive, forceful, and accurate motions in automated assembly and manufacturing lines. With growing industrialization and requirement of automation across sectors such as food processing, automotive, packaging, and semiconductor manufacturing, the demand for pneumatic cylinders have increased substantially. Pneumatic cylinders offer advantages such as elimination of complicated transmission systems, noiseless operation, clean production environments, and flexibility of operation. They help increase productivity and reduce labor costs associated with repetitive tasks.
The global Pneumatic Cylinder Market is estimated to be valued at US$ 1361.34 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the pneumatic cylinder market is the increasing adoption of smart pneumatic cylinders. Smart pneumatic cylinders have integrated microcontrollers, sensors, and connectivity options that enables remote monitoring and control. The connectivity options such as built-in WiFi or Bluetooth enables monitoring of cylinder operation parameters like position, speed, pressure from any remote location. This helps predictive maintenance of cylinders and reduces downtime. Manufacturers are focused on development of IoT integrated smart cylinders for condition monitoring and data analytics. For instance, SMC Corporation offers IO-Link enabled smart cylinders that helps acquire operation data and provides notification in case of abnormality or errors in operation.
Porter’s Analysis
Threat of new entrants: Low capital requirements for manufacturing make the threat of new entrants moderate. However, established players have strong brand names and distribution networks.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes. Buyers can choose between pneumatic cylinders and electric cylinders based on their application requirements.
Bargaining power of suppliers: A few large multinational companies dominate the supply of pneumatic cylinders. However, the threat from suppliers is moderate due to the availability of alternative component suppliers.
Threat of new substitutes: Electric cylinders are emerging as substitutes for pneumatic cylinders in applications requiring precision and speed. However, pneumatic cylinders continue to have advantages in terms of efficiency and durability.
Competitive rivalry: The global pneumatic cylinder market is consolidated with a few large players holding major market shares. However, market rivalry is high due to frequent new product launches and investments in expanding production capacity.
Key Takeaways
The Global Pneumatic Cylinder Market Size is expected to witness high growth over the forecast period driven by increasing industrial automation. The global Pneumatic Cylinder Market is estimated to be valued at US$ 1361.34 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.
Asia Pacific is expected to dominate the global pneumatic cylinder market during the forecast period. This is attributed to rapid industrialization and growing manufacturing sector in China, India, and other Asian countries. Investments in infrastructure and strong growth of end-use industries are fueling the demand for pneumatic cylinders in the region.
North America is another major market for pneumatic cylinders due to the presence of leading automotive and electronics manufacturers. Replacement demand from mature industries is contributing to steady growth of the market. Stringent safety regulations are also propelling the demand for technologically advanced pneumatic cylinders.
Key players operating in the pneumatic cylinder market are Eli Lilly and Company, Sanofi S.A., Cadila Healthcare Limited, Cipla Limited, Castle Biosciences, Regeneron Pharmaceuticals, Inc., Merck & Co., Inc., Vidac Pharma, LEO Pharma A/S, Regeneron Pharmaceuticals, Inc., Merck Sharp & Dohme, and Amgen Inc. These players are focusing on new product launches, partnerships, and expansion in emerging markets to gain higher shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
