Rising Investments in Asia-Pacific, Increased Focus on Energy Efficiency, and Increased Penetration of IIoT are Set to Drive Market Growth
This Frost & Sullivan research service analyzes the global pneumatic valves and actuators market in detail from 2013 to 2022, where the base year of the study is 2016. This study examines the various product segments, end-user industries, and market shares, and offers a competitive analysis of the global market participants, individually for pneumatic valves and pneumatic actuators. Regional analyses are provided for North America, Europe, Middle East and Africa (EMEA), Asia-Pacific (APAC), and the Rest of the World (ROW).
This study examines the key growth drivers, restraints, product segments, and end-user industries in each region, and provides forecasts by end-user industry, product segments, and individual regions. In addition, this study also highlights future growth opportunities, and the strategic imperatives that need to be undertaken by the market participants, in order to capitalize on these growth opportunities. This research service also includes a CEO’s 360 degree perspective.
In this research service, Frost & Sullivan’s analysts examine the following product segments:
Pneumatic Valves, based on: • Operator Type: Direct solenoid, solenoid pilot, air pilot, and manual/mechanical valves
• Mounting Configuration: In-line, sub-base, manifolds, and fieldbus
• Port Size: Small, medium, and large
• Ways/Positions: 2W/2P, 3W/2P, 4W/2P, and 4W/3P
Pneumatic Actuators: • National Fluid Power Association (NFPA) Actuators
• Non-repairable Actuators
• Compact Actuators
• International Standards Organization (ISO) / Verband Deutscher Machinen-und Anlagenbau (VDMA) Actuators
• Rodless Actuators
• Rotary Actuators
• Slide Actuators
Rising investments in Asia-Pacific, focus on energy efficiency, and increased penetration of IIoT are set to drive market growth. Asia-Pacific, home to two fastest growing major economies in the world, has emerged as the key growth engine for this market due to the rising wealth in the region and the growth of the manufacturing sector.
Increasing demand for industrial automation in key end-user industries such as automotive, food processing and packaging, chemicals, plastics, and oil, material handling, and semiconductors and electronics, as well as the lifesciences industry, is anticipated to boost the growth of the pneumatic valves and actuators market, on account of their simple design, high power-to-weight ratio, and low purchase costs.
However, commoditization of the product increases the price pressure, affecting the profit margins of the market participants, especially in the face of increased competition from low-cost Asian manufacturers. On the other hand, increased focus on energy-efficient products is expected to sustain market growth, especially in developed markets such as North America and Europe. This is also complemented by the increasing penetration of IIoT across the manufacturing sectors, which is expected to steady the demand for pneumatic valves and actuators over the forecast period and sustain competition from competing technologies (e.g., electrical actuators).
While increased focus on total cost of ownership and reduced energy consumption are expected to result in increased substitution of pneumatic systems with electrical systems in the long term, the high cost of electrical actuators, practical limitations in hazardous environments, and the complexity involved in the conversion of brownfield facilities are expected to slow down this trend.
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