Product Code: ETC368484 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India pneumatic equipment market import shipments displayed a robust growth trend over the period 2020-2024, with a notable CAGR of 18.9%. However, there was a slight slowdown in growth between 2023 and 2024, with a growth rate of 11.0%. Overall, the market expanded significantly, maintaining positive momentum despite a slight deceleration in the final year.
The India pneumatic equipment market is expected to grow at a compound annual growth rate (CAGR) of 10.3 percent with an estimated value of USD 1 billion in 2018 and is projected to reach up to USD 1.6 billion. This rise can be attributed to an increased focus on automation among manufacturing companies as well as rising acceptance of air compression technology across various other industries such as automotive & transportation, chemicals & pharmaceuticals, food processing, etc., resulting from its advantages over conventional technologies like hydraulic systems or electric motors amongst others.
The pneumatic equipment market in India is witnessing significant growth due to several driving factors. As industries seek efficient and reliable automation solutions, the demand for pneumatic components, such as actuators, valves, and air preparation units, has surged. The ease of maintenance, cost-effectiveness, and versatility of pneumatic equipment have made them a preferred choice for various industrial applications. Additionally, the growing emphasis on energy-efficient manufacturing processes has further boosted the adoption of pneumatic systems, contributing to the market`s expansion.
The pneumatic equipment market in India is witnessing steady growth, driven by applications in manufacturing, automotive, and construction industries. However, the market faces challenges. One of the primary challenges is the increasing competition from electric and hydraulic systems, which offer advantages in terms of energy efficiency and precise control. The need for regular maintenance and periodic replacement of pneumatic components can also be a concern for some users. Moreover, the lack of standardization in pneumatic fittings and connections can lead to compatibility issues when integrating pneumatic equipment from different manufacturers. To overcome these challenges, pneumatic equipment manufacturers need to focus on product innovation, energy efficiency, and standardization efforts to maintain their competitive edge in the India market.
The pneumatic equipment market in India faced challenges during the pandemic due to disruptions in manufacturing and construction activities. However, the market showed resilience as industries adapted to new safety protocols and automation solutions. The demand for pneumatic equipment in healthcare, pharmaceuticals, and food processing sectors increased as these industries expanded their production to meet COVID-19 related demands.
The pneumatic equipment market in India is witnessing steady growth, driven by applications in industries such as manufacturing, automotive, and construction. Key players in this market include companies like SMC Pneumatics India, Festo India, Janatics India, and Parker Hannifin India. These companies offer a wide range of pneumatic components and systems, including actuators, valves, air preparation units, and fittings, catering to diverse industrial requirements. They invest in research and development to introduce energy-efficient and compact pneumatic solutions, addressing sustainability and space constraints in India industries. Key players also focus on building strong relationships with OEMs and industrial customers to provide timely technical support and tailored pneumatic solutions.