The fluid handling system market is projected to grow at a CAGR of 4.94% during the forecast period to reach US$318.613 billion by 2027, from US$227.361 billion in 2020.
A fluid handling system consists of numerous interconnected pieces of equipment that are intended to exploit the mass and energy of a moving fluid to carry out tasks, transfer heat, or speed up production processes. Depending on the application, the system's design, the fluids it uses, and its function will change. It might be challenging to comprehend how systems operate and how to debug and optimize them due to the complexity of the majority of systems. The fluid handling system market is segmented into components, industry verticals, and geography.
The growing population and simultaneous increase in the proportion of the urban population are leading to the rising demand for consumer goods, oil and gas, energy, and power.
The Oil market report of the International Energy Agency published in August 2022 stated that the World Oil demand is now forecasted at 99.7 mb/d in 2022 and 101.8 mb/d in 2023. This is leading to the growth of the fluid handling system market as these systems are used in the production of these products. Moreover, the growing trend of automating plant operations is further supplementing the growth of the fluid handling system market, as the manufacturers involved in this market are focusing on developing advanced fluid handling systems to gain a competitive advantage over other players in the fluid handling system market. Furthermore, the development of terminals and storage facilities for the oil and gas industry, as well as the installation of new pipelines, will all contribute to the growth of the fluid handling system market. One of the major factors influencing the growth of the Fluid Handling System Market is the fierce competition offered by local producers to established manufacturers. In the chemical and wastewater management industries, there is a considerable demand for cutting-edge systems
The Fluid Handling systems market is expected to be dominated by the Asia Pacific region, due to the rising need for fluid handling systems in developing nations like India, China, and Japan.
The need for various kinds of fluid handling systems hardware is predicted to increase during the anticipated period in a number of industries, including energy and electricity, oil and gas, and building and construction in the region. The significant oil and gas industry in the area, as well as the expanding water and wastewater, mining, and construction industries are contributing to the growth of the fluid handling system market in this region. The growing population in this region is attributed to the growth of end-user industries like the oil and gas industry, energy and electricity, etc. Also, the population growth of countries like China and India are major factors propelling the end-user industries, which is consequently fueling the fluid handling system market in this region.
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What will be the fluid handling system market size by 2027?
A1. The fluid handling system market is projected to reach a market size of US$318.613 billion by 2027.
Q2. What is the size of the global fluid handling system market?
A2. Fluid Handling System Market was valued at US$227.361 billion in 2020.
Q3. What are the growth prospects for the fluid handling system market?
A3. The global fluid handling system market is projected to grow at a CAGR of 4.94% over the forecast period.
Q4. What factors are anticipated to drive the fluid handling system market growth?
A4. The growing trend of automating plant operations is supplementing the fluid handling system market growth.
Q5. Who are the major players in the fluid handling system market?
A5. Major industry players profiled as part of the fluid handling system market report are Emerson Electric Co, Christian Burkert GmbH & Co. KG, Alfa Laval, Ingersoll-Rand plc, IDEX, and Dover Corporation among others.
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. FLUID HANDLING SYSTEMS MARKET, BY COMPONENT
6. FLUID HANDLING SYSTEMS MARKET, BY INDUSTRY VERTICAL
6.2. Oil and Gas
6.3. Energy and Power
6.4. Food and Beverage
7. FLUID HANDLING SYSTEMS MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.3. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Emerson Electric Co
9.2. Christian Burkert GmbH & Co. KG
9.3. Alfa Laval
9.4. Ingersoll-Rand plc
9.6. Dover Corporation
9.7. Crane Co.
9.8. Circor International, Inc.
9.9. Graco Inc.
9.10. Flowserve Corporation
Emerson Electric Co
Christian Burkert GmbH & Co. KG
Circor International, Inc.
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