North America Miniature Pneumatics Market To Witness Massive Growth Of US$ 1,169.34 million By 2027 With A CAGR Of 4.4% | Business Market Insights


North America Miniat

iCrowdNewswire   Mar 3, 2021  6:40 AM ET

The miniature pneumatics market in North America is expected to grow from US$ 832.99 million in 2019 to US$ 1,169.34 million by 2027; it is estimated to grow at a CAGR of 4.4% from 2020 to 2027.

The Business Market Insights provides you regional research analysis on โ€œNorth America Miniature Pneumatics Marketโ€ and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the North America Miniature Pneumatics market during the forecast period, i.e., 2020โ€“2027.

The miniature pneumatics consist of a variety of pneumatic components that are miniaturized to be used for both light- and medium-duty applications and low-medium pressure ranges. In these systems, the weight and size are significant constraints and, thus, the need for high precision. The magnetically latched solenoid valve is apt for decreasing the power consumption across various applications where higher and conventional power valves are precisely used. The magnetically design solenoids are suitable for battery-powered and compact pneumatic instruments such as environmental gas samplers, portable oxygen delivery systems, and other OEM flow switching devices. The advantages of miniature pneumatic are low friction, excellent power-to-weight ratio, and easy availability, which is expected to boost the market growth during the forecast period. Also, Industries rising need from end use markets is expected to create a significant demand for miniature pneumatics in the coming years, which is further anticipated to drive the North America miniature pneumatics market.

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Major key players covered in this report:

  • Beswick Engineering
  • Clippard Instrument Laboratory, Inc.
  • Emerson Electric Co.
  • Industrial Specialties Mfg.
  • Kendrion N.V.
  • McMaster-Carr
  • Norgren
  • Pneumadyne

Miniature pneumatics offers numerous benefits, such as efficiency and customization to the healthcare industry. 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.

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the North America Miniature Pneumatics market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the North America Miniature Pneumatics market segments and regions.

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The research on the North America Miniature Pneumatics market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitorโ€™s methodologies. The research also segments the North America Miniature Pneumatics market on the basis of end user, product type, application, and demography for the forecast period 2020โ€“2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the North America Miniature Pneumatics market.

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