The miniature pneumatics market in Europe is expected to grow from US$ 523. 80 million in 2019 to US$ 728. 32 million by 2027; it is estimated to grow at a CAGR of 4. 2% from 2020 to 2027. Miniature pneumatics offers numerous benefits such as efficiency and customization to the healthcare industry.
New York, April 07, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Miniature Pneumatics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type and Application" - https://www.reportlinker.com/p06027799/?utm_source=GNW
Moreover, due to the ongoing COVID-19 pandemic, the demand for medical instruments such as ventilators, diagnostic equipment, and other critical care devices has increased.
Therefore, prominent miniature pneumatics companies such as Clippard are increasing their workforce owing to the increasing demand for critical components and subassemblies by the healthcare industry.Additionally, increasing product launches by companies such Festo for the healthcare industry is also expected to provide growth opportunities for the market.
For example, in January 2021, Festo launched a new VOVK valve for single valve duty or high-density small-footprint manifolds.The product is suitable for various applications, such as in-vitro diagnostics (IVD); and small point of care devices, such as portable oxygen regulators as they offer wide pressure range and low power consumption.
Therefore, notable benefits offered by miniature pneumatics to the healthcare industry and increasing product launches by prominent companies are expected to provide growth opportunities to the market. Also, various benefits offered by miniature pneumatics are among the other factors expected to positively influence the demand for miniature pneumatics across Europe.
In terms of application, the semiconductor segment led the Europe miniature pneumatics market in 2019.In the semiconductor industry, the applications of miniature pneumatics are increasing with the surge in the manufacturing of electronic components and semiconductor devices for clean and contaminant-free environment.
The electronic equipment manufacturers majorly rely on pneumatic fittings and Pneumadyne directional valves while designing and building machines for the semiconductor and electronic component industries.The custom and standard pneumatic components are used in caustic wash down systems, chip manufacturing and testing equipment, and circuitry testing devices.
Further, miniature pneumatic components are also being used in the gas box panels and in product packaging.
Europe is adversely affected by the COVID-19 pandemic.In Europe, the UK is the hardest-hit country by the outbreak.
Europe is expected to suffer an economic hit due to a lack of revenue from various industries, as countries such as the UK, Germany, and Italy recorded the highest number of COVID-19 cases.Additionally, the miniature pneumatics market is expected to get hampered with the outbreak of another variant of COVID-19 in the UK.
The region is a significant manufacturing and industrial hub for various sectors such as aviation, manufacturing, automotive, energy and power, and others.However, due to the pandemic, many businesses in Europe are facing financial challenges as they had to reduce their activities substantially owing to government-imposed restrictions, lack of workforce, and decreasing sales.
For example, in March 2020, BMW planned to close its factories in Europe and South Africa owing to declining sales. With reducing manufacturing businesses, mining activities, and production businesses during the first few months of 2020, the use of miniature pneumatics has also witnessed a decline.
The overall Europe miniature pneumatics market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Europe miniature pneumatics market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe miniature pneumatics market. Clippard Instrument Laboratory, Inc.; Emerson Electric Co.; Kendrion N.V.; Norgren; PARKER HANNIFIN CORP; and ROSS CONTROLS are among the players operating in the market.
Read the full report: https://www.reportlinker.com/p06027799/?utm_source=GNW
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