During the research period, the South American pneumatic components market is expected to grow at a high CAGR of 4.89%. One area of pneumatic engineering that uses gas or compressed air is pneumatic components. Compressed air is typically used to power pneumatic components, which are widely employed in industrial automation. Actuators, valves, cylinders, and fittings are a few examples of pneumatic components. The main benefits of pneumatic components are their easy channeling, safety, unlimited source availability, ease of storage, and ease of use. Throughout the projected period, there is anticipated to be a notable increase in the demand for pneumatic component devices.
There are numerous macro and micro factors, constraints, and opportunities that impact the demand for pneumatic components in South America, except for Mexico. Rapid economic growth in emerging nations like Brazil, Argentina, and Chile is one of the main macro factors. Rapid modernization in these nations is increasing demand for pneumatic systems in automation and manufacturing. Pneumatic technology adoption is also being aided by government programs to modernize industries such as packaging, food and beverage, and automotive. The market is also growing because of the rise of important industries including mining, oil and gas, and agriculture, where pneumatic components are widely used. The use of environmentally friendly pneumatic systems that adhere to international sustainability efforts and legal regulations is also in line with the growing emphasis on sustainable manufacturing processes.
Segmentation of the Market
The market for pneumatic components in South America was divided into several categories, including air compressors, tubes and hoses, pneumatic actuators, pneumatic valves, and other types. In 2023, the Air Compressors segment had the biggest market share, and it is anticipated to continue to do so for the duration of the projection.
Food and Beverage, Packaging, Automotive, HVAC, Automation and Manufacturing, Chemical, Medical and Pharmaceutical, Oil and Gas, Plastic Industry, Wood Working, and Other End-Users are the market segments based on End-Use. In 2023, oil and gas will have the most share (18.12%).
With a market share of 81.86%, Brazil led the market by nation and is anticipated to hold this position for the duration of the projected period.
Key Players
Leading Companies in the Pneumatic Components Market: Bosch Rexroth AG, Festo Inc., SMC Corporation, IMI Norgren, Micromecanica, Metal Work, Werk-Schott, Emerson/Aventics, Pneumax, GHPC, and Airtac.
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