With a projected annual average growth rate of 4.4% over the period between 2004 and 2009, the Euro 3132 million mini-pneumatic components market is on course to become the fastest growing sector within the overall European pneuamtic components industry. The principal impetus to expansion is expected to come from new applications in end-user sectors such as biomedical, analytical instrumentation, food processing and packaging.
An emphasis on highly specialised and effective components with minimised leak and failure rates are underlining the appeal of mini-pneumatic components in the biomedical and analytical instrumentation arena. Compliance with strict regulations governing these two sectors has generally resulted in more costly components, offering enhanced revenue potential.
Continual innovation and developing applications are expected to translate into steady demand from these two end-user sectors. Already the largest end-user group for mini-pneumatic components, the biomedical sector is expected to generate nearly 20,0% of market revenues by 2009 with the analytical instrumentation sector generating the fourth largest revenue share.
The food processing and packaging industry also offers significant growth prospects. mini-pneumatic components are being extensively used as automation solutions to reduce labour-related costs. Propelled by new processes and packaging for food products, this end user group is expected to account for the third largest revenue share - 11,9% - of the total mini-pneumatic components market by 2009.
Apart from these significant end-user sectors, mini pneumatic components are also finding use in semiconductors and high tech, conveyor systems, transportation, automotive, plastics, chemicals and oil industries. Applications in robotics, animatronics, aerospace and defence and other industrial manufacturing sectors confirm the rising popularity of mini pneumatic components. |
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