Fluid Handling Systems Market Plying for Significant Growth During 2023
Fluid
handling systems are used to measure, control and direct flow of
liquid and other types of fluids. The market has been segmented on
the basis of parts, application and geography. On the basis of parts
the fluid handling systems market can be segmented into seven
categories; flow meters, pump skids, pumps, valves, meter systems,
fire pump systems and fire pumps. The market on the basis of
application can be divided into chemicals, oil and gas, power
generation, marine, mining, fire pumps, wastewater management, food
and beverage, and pharmaceuticals among others. Based on geography,
the market has been divided into North America, Europe, Asia Pacific,
Middle East and Africa and Latin America.
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The
global fluid handling systems market is mainly driven due to the
continuous research and development activities taking place which has
improved the cost effectiveness and productivity. Installation of new
pipelines and building of terminals and storage facilities pertaining
to the oil and gas industry will further boost the market growth of
the fluid handling systems market. Moreover, the demand for fluid
handling systems will also be on the high as a result of the
expansion and exploration of new refineries in various regions such
as Asia-Pacific, Middle East and Latin America. For example, recent
discoveries of large oil and gas sources off the coast of Brazil have
brought increased investment activities to the region Furthermore;
increasing investments in the power sector as a result of the
undergoing structural changes due to environmental regulations will
further propel the demand for fluid handling systems in the North
America region. On account of changing economic and regulatory
factors, the mining industry in Australia and Latin America is
expected to show sustained growth which will further drive the market
for fluid handling systems. In pharmaceutical industry of Asia
Pacific region, demand for fluid handling systems is expected to
increase during the forecast period.
However,
one of the major restraints hampering the growth of the fluid
handling systems market is the stiff competition being offered by the
local manufacturers to the established manufacturers. The fluid
handling systems being produced by the local manufacturers are often
poor in quality as it comes at a lower price point. Due to its price
being low, a lot of companies are opting for them and hence
possessing a threat to the established players.
Increasing
investments in the shale gas sector will act as strong opportunity
for the growth of the fluid handling during the forecast period.
Industrialization drive in the Asia Pacific region will further
attract investments. Moreover, long-term mining and mineral project
activity in the Latin America region will further create
opportunities for the market to grow. Recent trends have shown that
rising demand for efficient value chain for drug manufacturing has
resulted various Multinational Corporations (MNC) deploying
sophisticated fluid handling systems.
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Some
of the key players operating in the fluid handling systems market are
Shelton Fluid Technology, Fluid Handling Systems Inc., Ingersoll Rand
LLC, Anestiwata Corporation, Flowserve Corporation, Metso
Corporation, Pentair Plc, Crane Fluid Inc, Flowtech Industries L.L.P,
Entegris Inc., Boyser S.R.L and Graco Inc. among others.
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