Global Fluid Handling System Market: Introduction
Fluid handling systems are used to measure, direct and control the flow of liquid and other types of fluid. These include sewage water, slurries, toxic gases, chemicals and mixtures. According to an estimation of International Energy Agency (IEA), about 40% of the global CO2 emission reductions necessary to limit global warming less than 2 °C by the year 2050, can be attained by enhancing the efficiency of end-use energy. One of the significant factors in the global energy consumption is electric-motor operated fluid handling systems. Established players and new players are forced to limit the emissions through manufacturing efficient and eco-friendly fluid handling systems.
Thus, proliferating the demand for the amelioration in the material and energy efficiency through new design and control method of the fluid handling system. Economic growth, oil and gas industry and other end-use industry are the parameters that meters the global fluid handling system market. In the coming years, with the rapid developments in the technological arena, fluid handling system market is anticipated to observe healthy growth rate.
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Global Fluid Handling System Market: Market Dynamics
The fluid handling systems that are installed in chemical and oil & gas industry have to deal with lubricants hazardous chemicals and other toxic substances. Handling of such compounds is of prime concern. Continuous filtering of lubricants can dramatically improve industrial equipment performance and lubricant life, high machinery repair costs and preventing production downtime. Moreover, during the production process of pulp & paper, multiple chemicals require to be supplemented and a large number of parameters need to be measured and controlled. Aforementioned utilities of fluid handling system bolster the global market.
Fluid handling system is a vital part of the pharmaceutical industry. Inefficient handling of chemicals may result in contamination. An industry faces numerous challenges in order to prevent contamination and ensure product safety & quality during the production. The global need for high-quality pharmaceutical products strengthens the incorporation of the fluid handling system in the industry.
Lower adoption rate and replacement rate of the components are expected to dampen the global fluid handling system market. Manufacturing of components utilized in fluid handling system by unorganized sector also affects the market share of established players.
Global Fluid Handling System Market: Market Segmentation
Global fluid handling system market can be segmented on the basis of design type, product type, sales channel and regions
On the basis of pumping equipment type, global fluid handling system market can be segmented as
On the basis of components, global fluid handling system market can be segmented as
On the basis of end-use industry, global fluid handling system market can be segmented as
Global Fluid Handling System Market: Regional Outlook
Fluid handling system market in Asia Pacific is expected to be mostly steer by India and China. India has many pharmaceutical industries that demands an extensive need for fluid handling system. Significant growth is anticipated in India and China owing to growth of end-use industries in these region. Additionally, oil producing regions are expected to witness hefty demands for the fluid handling system in the foreseeable future. Investments in the upcoming oil and gas projects will likely to raise the demand for fluid handling system in Middle East. South Africa is one of the prominent region for in the field of gas-to-liquid technologies. Consequently, the demand for fluid handling system is likely to grow.
A dwindling demand for paper and growing digitalization dampens the new infrastructural developments for pulp & paper industry in any part of the globe. Despite, huge demand from Asia, sluggish demand from Western Europe and Latin America bolsters the need for efficient equipment in the industry. Subsequently, drives the global fluid handling system market.
Active development of oil and gas production in Russia and the launching of new projects in this area drives the fluid handling system market in Eastern Europe. Despite the maturity of centrifugal pump market in Russia, the country is one of the prominent markets for oil pumps and this is the reason why the market looks lucrative and attractive for the foreign investors. This, in turn, will likely to boost the fluid handling system market.
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Global Fluid Handling System Market: Key Participants
Example of some of the market participants in the global fluid handling system market discerned across the value chain include
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