Pneumatic Conveying System Industry Analysis and Growth 2024
The global Pneumatic Conveying Systems Marketis expected to reach USD 31 billion by 2024 with a CAGR of over 6 % during the forecast period (from 2016 to 2024). Growing demands for material handling equipment in a variety of application segments are likely to boost the market growth in the near future. Moreover, technology development and innovation in a number of feeding technologies, such as suction nozzles & hoppers, rotary valves etc., are also anticipated to spur the product demands. The global market is divided into operating principles, technologies, end-uses, and regions.
The operating principles sector includes dilute phase and dense phase. The dilute phase sector dominated the global market in 2015 and is expected to witness a huge growth in the near future due to its property of utilizing only air pressure for conveying materials. The dense phase sector is projected to grow at CAGR of 6 % over the estimated years. It involves the use of transporters like blow & pressure tanks.
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The technology sector involves vacuum system, positive pressure system, and combination system. Positive pressure systems led the pneumatic conveying systems market in 2014 and are likely to grow at a CAGR of over 6 % from 2016 to 2024. The vacuum systems sector occupied for more than 35 % of the overall market share in 2015. The sector is said to show tremendous growth as a result of its growing implementations for free-flowing and light materials.
The end-uses sector includes ceramic, pharmaceutical, rubber & plastic, and food. The pharma sector led the market in 2014 and is estimated to grow at a CAGR of 6 % during the forecast period. The ceramics industry is also likely to witness huge growth in the near future and is said to exceed USD 5.5 billion by 2024.
Geographically, Asia-Pacific is anticipated to be the dominant region with the highest growth rate on account of the rapid industrialization. The European pneumatic conveying systems market is also expected to witness huge growth over the next few years. The region is said to hold the substantial market share of more than 35 % over the coming years.
The major companies in this market include Schenck Process LLC; AZO GmbH & Co. KG; Flexicon Corp.; Atlas Copco; Dynamic Air Inc.; Pneu-Con Valves Pvt. Ltd.; and Cyclonaire Corp
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