Global pneumatic conveying systems market to reach $8.7 billion by 2027, report says
Growth in the vacuum pressure conveying segment will reach 5.7 per cent CAGR for the next seven-year period, the report from ReportLinker said.
The global pneumatic conveying systems market to reach US$8.7 billion by 2027, a report from research firm ReportLinker says.
Positive pressure conveying, one of the segments analyzed in the report, is projected to record a 5.4 per cent compound annual growth rate (CAGR) and reach US$4.2 billion by the end of the analysis period. After an early analysis of the business implications of the ongoing COVID-19 pandemic and its induced economic crisis, growth in the vacuum pressure conveying segment is readjusted to a revised 5.7 per cent CAGR for the next seven-year period.
The U.S. market is estimated at US$1.6 billion, while China is forecast to grow at eight per cent CAGR.
The pneumatic conveying systems market in the U.S. is estimated at US$1.6 billion in the year 2021, while China, the world`s second largest economy, is forecast to reach a projected market size of US$1.8 billion by the year 2027 trailing a CAGR of eight per cent over the analysis period 2020 to 2027. “Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9 per cent and 4.7 per cent respectively over the 2020-2027 period,” the report said. “Within Europe, Germany is forecast to grow at approximately 3.3 per cent CAGR.”
In the global combined conveying segment, the U.S., Canada, Japan, China and Europe will drive the 3.9 per cent CAGR estimated for this segment, and will account for a projected size of US$1.5 billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. “Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 billion by the year 2027, while Latin America will expand at a 5.3 per cent CAGR through the analysis period,” the report also said.