PUBLISHER: Market Research Future | PRODUCT CODE: 1754364
PUBLISHER: Market Research Future | PRODUCT CODE: 1754364
Report Information on South America Pneumatic Components Market Research Report by Type (Pneumatic Valves, Pneumatic Actuators, Air Compressors, Tubes & Hoses, and Other Types), by End Use (Food and Beverage, Packaging, Automotive, HVAC, Automation and Manufacturing, Chemical, Medical and Pharmaceutical, Oil and Gas, Plastic Industry, Wood Working, and Other End-User) Forecast to 2032
It is anticipated that the South American pneumatic components market will experience a robust expansion at a compound annual growth rate (CAGR) of 4.89% during the review period. Pneumatic components are a component of pneumatic engineering that utilize compressed air or gas. Compressed air is the primary source of power for pneumatic components, which are extensively employed in industrial automation. Actuators, valves, cylinders, and connections are among the pneumatic components. The primary benefits of pneumatic components include their infinite availability, ease of channeling, safety, storage, and utilization. It is anticipated that the demand for pneumatic component devices will experience substantial growth during the forecast period.
A diverse array of macro and micro drivers, restraints, and opportunities influence the demand for pneumatic components in South America, except for Mexico. Rapid economic development in emerging markets, including Brazil, Argentina, and Chile, is a significant factor among the macro drivers. The demand for pneumatic systems in manufacturing and automation is being fueled by the accelerated industrialization that is taking place in these countries. The adoption of pneumatic technologies is being further bolstered by government initiatives to modernize industries such as automotive, packaging, and food & beverage. In addition, the market's expansion is facilitated by the widespread use of pneumatic components in key sectors such as oil & gas, mining, and agriculture. The adoption of environmentally favorable pneumatic systems that adhere to global sustainability initiatives and regulatory requirements is also consistent with the heightened emphasis on sustainable manufacturing practices.
The South American pneumatic components market was categorized into five types: pneumatic valves, pneumatic actuators, air compressors, tubes and hoses, and other types. The Air Compressors segment is anticipated to maintain its dominance throughout the forecast period and currently holds the largest market share in 2023.
Food and Beverage, Packaging, Automotive, HVAC, Automation and Manufacturing, Chemical, Medical and Pharmaceutical, Oil and Gas, Plastic Industry, Wood Working, and Other End-User are the segments into which the market is divided by end-use. In 2023, the greatest share is held by oil and gas, with a percentage of 18.12%.
In terms of country, Brazil dominated the market with a share of 81.86% and is anticipated to continue to be the largest market throughout the forecast period.
The Pneumatic Components market is dominated by a number of notable companies, including Bosch Rexroth AG, Festo Inc., SMC Corporation, IMI Norgren, Micromecanica, Metal Work, Werk-Schott, Emerson/Aventics, Pneumax, GHPC, and Airtac.