LONDON, Feb. 8, 2018
Rising investments in Asia-Pacific and uptake of smart solutions augment growth opportunities
LONDON, Feb. 8, 2018 /PRNewswire/ -- Frost & Sullivan's latest analysis of the pneumatic valves and actuators market finds that Industrial Internet of Things (IIoT) adoption is expected to increase significantly due to rising energy costs and end-user demand for lower product costs, improved operational efficiency, and increased machine uptime. Frost & Sullivan predicts that heightened investment in Asia-Pacific, coupled with uptake in smart solutions such as wireless connectivity, remote monitoring, and predictive analytics, will augment growth opportunities
Frost & Sullivan's recent analysis, Global Pneumatic Valves and Actuators Market, Forecast to 2022, provides a strategic overview of growth drivers, restraints, product segments, and end-user industries. Market share and competitive analytics of key players such as SMC Corporation, Festo AG, Parker-Hannifin Corporation, IMI Precision Engineering, and Aventics GmbH are also given.
For further information on this intelligence, please click here.
"The increased price pressure on manufacturers stemming from intense competition from low-cost pneumatic equipment manufacturers, while challenging, should be viewed as an opportunity to enhance technical capabilities, adopt lean manufacturing techniques, and increase product diversity, especially through the development and promotion of energy-efficient and smart IIoT-compatible products and services," said Varun Raman, Mechanical Power Transmission Industry Analyst at Frost & Sullivan. "While IIoT adoption rates will differ based on the region and scope of the end user, the benefit in terms of improved energy and operational efficiency will remain an attractive proposition for all end users."
Raman recommends that manufacturers focus new product development strategies on reducing air and energy consumption since compressor air costs account for the majority of operating costs, and lower energy costs reduce the total cost of ownership.
Further strategic imperatives for growth in the pneumatic valves and actuators market include:
"By increasing electronic integration in pneumatic valves and actuators, manufacturers can slow down the trend toward electrification," noted Raman. "The development of IIoT-compatible products with greater intelligence built into the valves and actuators can also reduce electric systems migration."
Global Pneumatic Valves and Actuators Market, Forecast to 2022 is part of Frost & Sullivan's global Mechanical Power Transmission Growth Partnership Service program.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion
Global Pneumatic Valves and Actuators Market, Forecast to 2022