Sliding Vane Air Motors Market to Garner $3.677 Billion In 2025 Owing to New Advanced Tools - Allied Market Research
PORTLAND, Oregon, August 9, 2018 /PRNewswire/ --
Allied Market Research published a report, titled, Sliding Vane Air Motors Market by Offering (Product and Component), Application (Tool, Industrial Equipment, and Others), and End-user Industry (Automotive, Manufacturing, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2025. According to the report, the global rotary vane air motor market generated a revenue of $2.575 billion in 2017, and is expected to generate $3.677 billion in 2025, registering a CAGR of 4.61% from 2018 to 2025. Rise in demand for tools with different torque and fastening capabilities and development of tools with abilities to perform efficiently in adverse conditions augment growth in the industry. However, less scope in heavy duty applications would restrain growth in the market. On the other hand, increase in investment in superior tools and high power-to-weight ratio create new opportunities in the market.
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Product segment to contribute two-third of market by 2025
Offering segment is classified further into product and component. The product segment garnered the highest revenue and contributed to nearly two-third of the market share. However, the component segment would register the highest growth during the forecast period, growing nearly 1.5 times.
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Industrial equipment dominates throughout
Applications analyzed in the research are tools, industrial equipment, and others. The industrial equipment segment contributed the highest market share in 2017 and continue its dominance by 2025. On the other hand, the tools segment would grow by around 50% by 2025.
Manufacturing sector to be on the forefront by 2025
End users discussed in the research include automotive, manufacturing, healthcare, and others. The automotive segment contributed to one-third share of total market in 2017, however, the manufacturing segment generated around one-fourth of market share. The automotive sector will be the second-most lucrative segment, followed by manufacturing sector.
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Asia-Pacific dominates the industry
The report offers insights on various regions including North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA). The country-wise and cross-sectional analysis is also provided in the research. The Asia-Pacific region contributed to the highest revenue and is expected to continue its dominance throughout the forecast period. The region contributed to nearly one-third of market share in 2017 and would maintain its share by 2025.
Forerunners of the industry:
The major market players active in the industry include Atlas Copco, Altra Industrial Motion, Parker Hannifin Corporation, SANEI Co. Ltd., Deprag Schulz GmbH u. Co., Bibus AG, Ingersoll-Rand, FIAM, Globe Airmotors, Desoutter Industrial Tools, Sommer-Technik, and Ferry Produits. They have adopted various strategies including mergers, partnerships, acquisitions, collaborations, and joint ventures to gain stronghold in the global industry and build long-lasting business.
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