According
to the new market research report "Fluid Handling System Market by Pumps
(Centrifugal and Positive Displacement), Control Valves (Rotary and Linear),
Flow Meters (Magnetic, Coriolis, Differential Pressure, Ultrasonic), Industry,
and Geography - Global Forecast to 2023",
the fluid handling system market is projected to be valued at USD 73.28 Billion
by 2023, growing at a CAGR of 4.8% between 2017 and 2023. Factors driving the
growth of the market include 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.
Fluid handling system market for control
valves expected to grow at the highest CAGR between 2017 and 2023
The
growth of the control valves market can be attributed to the increasing need
for wireless infrastructure to maintain/monitor equipment in various plants,
revenue shift in the industry, rising demand for control valves for oil and gas
and subsea applications, increased focus on automation, rising number of new nuclear
plants, and enhancement of existing plants.
Pumps projected to hold the largest
share of the market during the forecast period
Pumps
are used across a wide range of industries such as water and wastewater,
chemicals, energy and power, oil and gas, and building and construction. Thus,
the increasing investment in these industries in developed as well as
developing nations, in turn, increases the demand for pumps. In the global pump
market, advanced intelligent pump technologies are increasingly being adopted
to improve the efficiency of the pumping operation.
Market for building and construction
industry to grow at the highest CAGR between 2017 and 2023
Commercial
buildings and construction sites are surrounded by several types of fluids and
gases through their lines to maintain the smooth operation of HVAC, fire
protection, and water and wastewater management. Fluid handling systems ensure
the proper flow and control of fluids in the building and construction
industry. The increasing adoption of building automation systems, such as HVAC
systems and fire safety systems, is expected to drive the growth of the fluid
handling system market in this industry.
APAC to hold the largest share of the
fluid handling system market during the forecast period
The
robust presence of local and regional fluid handling system manufacturers
encourages the growth of the fluid handling system market in APAC. Further, the
rising demand for efficient and accurate measurement devices, increasing number
of industrial infrastructural activities, and high demand for fluid handling
systems in the chemicals and water and wastewater industries fuel the growth of
the fluid handling system market in APAC.
https://www.marketsandmarkets.com/Market-Reports/fluid-handling-system-market-194049757.html
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 Bürkert GmbH & Co. KG (Germany), Dover Corporation (US),
INDEX Corporation (US), Ingersoll-Rand plc (Ireland), and SPX Flow, Inc. (US).
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