“Fluid handling system market expected to exhibit significant growth between 2017 and 2023”
The fluid handling system market is projected to grow at a CAGR of 4.8% between 2017 and 2023 to be worth USD 73.28 billion by 2023. The key factors driving the growth of the market are the increasing demand for different types of pumps in the oil and gas industry, high demand for advanced systems in the chemical and wastewater management industry, and increased focus on plant automation. However, factors such as the high investment and operational cost of fluid handling system restrain the growth of this market.
“Pumps expected to hold a major share of fluid handling system market during the forecast period”
Pumps are expected to hold a major share of the fluid handling system market by 2023 owing to the improved environment for fixed investment spending by developed nations, which will help pump users to invest in expanding and upgrading the facilities. Further, the increased investment in water infrastructure in developing nations will also boost the growth of the market. The pumps used in industrial applications are usually heavy-duty process pumps. The types of pumps used in the fluid handling system are centrifugal pumps and positive displacement pumps.
“Water and wastewater industry to hold the largest share of the fluid handling system market during the forecast period”
The water and wastewater industry is expected to hold the largest share of the market during the forecast period.
The demand for upgrading the aging water infrastructure in developed countries is expected to encourage investment in fluid handling infrastructure for the water and wastewater industry. Also, the rapid urbanization and infrastructural development in developing nations have created a demand for fresh water and water sanitation, which would further create a major opportunity for the growth of the fluid handling system market.
“Fluid handling system market in RoW expected to grow at the highest CAGR during the forecast period”
The fluid handling system market in RoW is projected to grow at the highest CAGR between 2017 and 2022 owing to the increasing industrial infrastructural activities, and oil and gas projects in the Middle East and South America. Moreover, the growing popularity of fluid handling system in countries such as South Africa would further fuel the growth of the market in the RoW region during the forecast period.
The breakdany Type: Tier 1 = 50%, Tier 2 = 30%, and Tier 3 = 20%
- By Desigown of the profiles of primary participants for the report has been given below:
- By Compnation: C-Level Executives = 70%, Directors = 20%, and Others = 10%
- By Region: North America = 40%, Europe = 35%, APAC = 15%, and RoW = 10%
Alfa Laval AB (Sweden), Colfax Corporation (US), Crane Co. (US), Flowserve Corporation (US), and Graco Inc. (US) are among the leading players in the fluid handling system market. Other key players in the fluid handling system market include B?rkert GmbH & Co. KG (Germany), Dover Corporation (US), INDEX Corporation (US), Ingersoll-Rand plc (Ireland), and SPX Flow, Inc. (US).
The research report analyzes the fluid handling system market on the basis of the following segments: pumps, flow meters, control valves, industry, and geography. The market has been segmented on the basis of pumps into centrifugal pumps and positive displacement pumps. On the basis of control valves, the market has been segmented into linear vales and rotary valves. Linear valves include gate valves, diaphragm valves, and others. Rotary valves include ball valves, butterfly valves, and plug valves. The market for flow meters comprises magnetic, coriolis, differential pressure, ultrasonic, vortex, turbine, thermal, multiphase, and variable area flow meters. The industries covered in this report are oil and gas, water and wastewater, energy and power, pharmaceutical, food and beverages, chemical, building and construction, pulp and paper, metal and mining, and others. The report also covers the market segmented on the basis of the following regions: North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast have been provided for the market based on pumps, flow meters, control valves, industries, and regions to provide an overall view of the market.
A detailed value chain analysis has been given to provide in-depth insight into the market.
Major drivers, restraints, opportunities, and challenges for the market have been detailed in this report.
The report includes the detailed competitive landscape, along with key market players and their revenues.