The Global Fluid handling system market size is expected to reach USD 64.78 billion by 2028 from USD 49.82 billion in 2022, registering a CAGR of 4.21 % from 2023 to 2028.
In manufacturing sectors, fluid handling systems are crucial. It is a system that is in charge of controlling, monitoring, and maintaining the liquid movement of fluids throughout the facility, such as a factory or industrial plant. The components of the fluid handling system are Pipes, valves, and pumps. The system can handle any liquid chemical or flowing gases like slurries, chemicals, sewage water, and poisonous gases at any moment. The system works under extreme pressure; thus, the components need to be highly durable and have a long life span.
FLUID HANDLING SYSTEM MARKET REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 – 2028 |
Base Year |
2022 |
Forecast Period |
2023 - 2028 |
CAGR |
xx% |
Segments Covered |
By Pump, Flow Meter, Control Valve, Industry, and Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
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 and Others. |
Fluid handling systems play a crucial role in manufacturing industries. In the oil and gas industry, different types of pumps are needed for extraction, whereas Chemical and wastewater management industries are adopting fluid systems integrated with advanced systems and automation. This demand is driving the growth of the fluid handling system market. Further, companies are doing continuous research and innovation in fluid handling systems in order to set up highly durable and cost-effective equipment. Moreover, factors such as rapid industrialization, the surge in investments, and stringent government norms are propelling the fluid handling system market growth.
Unhealthy competition between local and established manufacturers
There is stiff competition between local manufacturers and established manufacturers. Numerous businesses are choosing local manufacturers' fluid handling systems since they are produced at a lower cost. This is posing a threat to the established competitors and impeding the growth of the fluid handling system market. Further high investment and operational costs of fluid handling systems are making manufacturers wary about their adoption. Moreover, the slower adoption and more replacement rates are also hindering market growth. These factors are restraining the fluid handling system market during the forecast period.
The industry is widely adopting automation and integrating artificial intelligence to control systems. In the Pharmaceutical sector, fluid management systems are crucial to prevent any external contamination manufacturers are using automated fluid handling systems. This provides a lucrative opportunity for the fluid handling system market. Further integration of the Industrial Internet of Things with fluid handling systems resulted in profitable opportunities for the key players. Several developments in fluid handling systems to set up highly durable and low maintenance costs will further propel the fluid handling system market.
The global COVID-19 pandemic disrupted the shares of the fluid handling system market. The supply and demand mismatches have negatively impacted interconnected economies globally. Several key businesses were not even operating at full capacity abiding by the pandemic restrictions. This outbreak has an economic impact and implications for global markets. The fluid handling system market has a negative impact owing to the shortage of workforce during the pandemic. Further industries such as oil and gas, chemicals, and several manufacturing industries stalled production, and several projects were scraped off with disruptions in manufacturing and supply chains. However, an increase in demand for the fluid handling system market is witnessed post covid.
The pumps are used to provide suitable flow rates to the fluids used in different processes. The centrifugal segment is projected to witness a healthy market share in the fluid handling system market during the forecast period. Centrifugal pumps are used to transfer fluids in inter and intra facilities. In the chemical industry, they are used to transfer and store fluids that are prone to reactions, whereas, in the food industry, they are required in flow operations. The increase in demand for centrifugal pumps in manufacturing industries and innovative pump technology is likely to drive market growth.
The linear valve segment registered the largest market share during the forecast period owing to high accuracy flow regulation. They are also ideal for precision control and repeatability. The valves have applications from general service to severe applications of both gas and liquid. Coupled with factors such as rising demand for control valves in the oil and gas industry and enhancement of existing plants are driving the fluid handling system market growth.
The water and wastewater sector is anticipated to dominate the fluid handling system market during the forecasted period. The water and wastewater industry has increasingly embraced automation systems to check water quality. Further Government regulations, industry development, and increased emphasis on wastewater treatment are driving the fluid handling system market. Following growth in the food and beverage industry for flow operations is also significantly driving the market growth.
The Asia Pacific region is expected to hold the highest market share in the fluid handling system market during the forecast period. The rise in demand for automation in growing economies such as India, China, South Korea, and Japan is driving market growth. The rise in the application of fluid systems in industries such as oil and gas, food processing, and chemical and wastewater treatment is likely to fuel market growth. Even the North American region is also witnessing healthy CAGR growth in the forecast period. The adoption of advanced fluid systems in countries such as the U.S. is driving the fluid handling system market growth.
Key Players in the Market:
Major Key Players in the Global Fluid Handling System Market are
Frequently Asked Questions
The Fluid Handling System market is expected to reach USD 64.78 billion by 2028.
The Asia-Pacific region has the largest share of the Fluid Handling System market.
ALFA LAVAL, Enovis, Crane Co., Graco Inc., Flowserve Corporation, Ingersoll Rand, and iDEX are the key players in the market.
The market is expected to register at a CAGR of 4.21 % during the forecast period 2023-2028.
High investment and operational costs of fluid handling systems and stiff competition between local and established companies are hampering the market growth.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: sales@marketdataforecast.com
Reports By Region