Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Pneumatic Cylinder Market - Insights
Global pneumatic cylinder market generated revenue of US$ 1,072 Million in 2017. By 2026, the pneumatic cylinder market is expected to amount to US$ 1,401 Million with a CAGR of 3.0% over the forecast period. The pneumatic cylinder, also known as air cylinder, is a mechanical device that uses air pressure to generate force in a linear motion. The pneumatic cylinders are similar to an automobile piston, which is forced by an inflow of pressurized gas in place of a gasoline explosion. After completing each stroke, the piston returns to its starting position.
The double acting cylinder segment held the dominant position in 2018
On the basis of functionality, pneumatic cylinder market is segmented into single acting cylinder and double acting cylinder. The double acting cylinder segment held the dominant position in the pneumatic cylinder market and is projected to retain its dominance throughout the forecast period. The double acting cylinders are faster, stronger, and require less energy to complete the task as compared to single acting cylinder. However, double acting pneumatic cylinders are more expensive. Increasing demand for high speed or forced mechanical devices in various industrial application is one of the major factors for high growth of the double acting cylinders segment. Moreover, double acting pneumatic cylinders are used in automobile, motorcycle, ATV, aeroplane landing gear suspensions, which will boost growth of the segment in the market during the forecast period. Double acting cylinders are found in jacks, fork lifts, garbage trucks, trash compactors, elevators, back hoes, and medical application such as ventilator. Increasing application of double acting cylinders in the space program as it is used to open and close the shuttle bay doors have forced to replace the electric motors with hydraulics and pneumatics cylinder due to high radiation level in the space.
Figure. Global Pneumatic cylinder Market Share, by Region, 2017, US$ Million
Asia Pacific held the dominant position in pneumatic cylinder market in 2017
On the basis of geography, the pneumatic cylinder market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific pneumatic cylinder market held the dominant position in the market and is expected to hold its dominance throughout 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, which accelerated the demand for the pneumatic cylinder in the region. Rising number of construction projects in China is leading to increasing demand for earth moving equipment. For instance, after the announcement of ‘One Belt, One Road’ project by China government in 2013, the construction industry in the country is expected to witness a significant growth. The main aim of the project was to link three regions — Asia, Africa, and Europe. Moreover, increasing urban population in India has also increased demand for housing projects, which will directly increase the demand for earth moving equipment during the forecast period. For instance, according to Population Reference Bureau, the total population of India was 1,352.6 million in 2017, out of which, 33% (about 446 million) lives in urban areas. Furthermore, high investments for infrastructure development by the Indian government accelerated demand for earth moving equipment in India. For instance, according to the India Brand Equity Foundation (IBEF), in the Union Budget 2018 – 2019, the government allocated US$ 92.22 billion for infrastructure.
Key Players- Global Pneumatic Cylinder Market.
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.