The miniature pneumatics market was valued at US$ 1,856. 0 million in 2019 and is projected to reach US$ 2,725. 7 million by 2027; it is expected to grow at a CAGR of 4. 9% from 2020 to 2027. The technical benefits such as improved efficiency, reliability, customization, and smooth machine function offered by miniature pneumatics are increasing their adoption by various industries.
New York, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Miniature Pneumatics Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type and Application" - https://www.reportlinker.com/p06027554/?utm_source=GNW
Miniature pneumatics component also known as precision pneumatics includes a wide range of pneumatic components that have been manufactured in miniature size for use in light and medium duty applications.
The adoption of miniature pneumatics has increased across numerous industrial applications owing to the advantages such as light weight, greater equipment design flexibility, and scope of customization.Further, they enhance the overall functioning of the system and in advancing manufacturing developments, thereby offering boulevards for market growth.
Miniature pneumatics offers other benefits such as low friction, easy availability, and great power-to-weight ratio, which is anticipated to spur the market growth during the forecast period.
The miniature pneumatics market is segmented on the basis of type and application.Based on type, the market is segmented into valves, cylinder, manifolds and tubing, specialized components, and others.
The valves segment is expected to hold the largest market share during the forecast period.Based on application, the miniature pneumatics market is segmented into semiconductor, HVAC systems, aerospace, medical instrument, test/analytics equipment, and others.
In 2019, the semiconductor segment accounted for a significant share in the market.
The US is the most affected country in North America due to the COVID-19 outbreak.The continuous growth in the number of infected individuals led the government to impose lockdown across the nation’s borders during Q2.
The majority of the manufacturing facilities were either temporarily shut or were operating with minimum staff. The supply chain of components and parts was disrupted; these are a few of the critical issues faced by the North American manufacturers.
The US comprises the largest number of miniature pneumatics, component manufacturers, and industries; hence, the outbreak has adversely affected each production and revenue generation.The lower number of manufacturing staff has resulted in lesser production quantity.
On the other hand, the limited availability of raw materials and closing of aerospace operations have also hindered the miniature pneumatics market in the US.However, prominent miniature pneumatic companies—such as Clippard—are planning to increase their workforce to cater to the healthcare industry’s growing demand.
This is expected to provide growth opportunities to the market in the coming years.
The overall 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 of the miniature pneumatics market with respect to all the segments.It also provides the overview and forecast for the global market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and 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 miniature pneumatics market.
A few major players operating in the global miniature pneumatics market are Emerson Electric Co. (ASCO); Beswick Engineering Co., Inc.; Clippard Instrument Laboratory, Inc.; Industrial Specialties Mfg. (ISM); Kendrion N.V.; NORGREN LIMITED; MCMASTER-CARR; Parker Hannifin Corporation; Pneumadyne; and ROSS CONTROLS.
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