FLUID HANDLING SYSTEMS MARKET INDUSTRY TRENDS, COMPETITIVE LANDSCAPE, COMPANY PROFILES AND FORECAST 2025
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.
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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.