New York, USA, July 19, 2024 (GLOBE NEWSWIRE) -- Market Introduction:
The global Fluid Handling Systems Market Size is predicted to grow from USD 72,765.23 million in 2023 to USD 1,08,322.43 million by 2032. It is anticipated to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2032, according to the latest research report by Polaris Market Research.
What are Fluid Handling Systems Market?
The fluid handling systems are frequently a meshwork of associated machines, particularly outlined to the passage of speed and power of an operational fluid to specific chores such as work, heat transmittance, or the making of goods. Fluid handling systems are an intrinsic constituent of manufacturing. Just possessing one is not sufficient. Similar to alternate parts of the factory, it requires to be outlined well for productivity. Rendering operates better and can reserve time and commodities. Enhancing segments can render it last prolonged and operate better. Good instruments indicate an elevated level of productivity. This kind of arrangement, the option of fluids, and the motive for which the system is being utilized are some of the variables that may vary substantially depending on the intentional application.
The market is ranked into control valves, pumps, flow meters, and storage tanks, amongst other constituents. Pumps are additionally categorized as an affirmative eviction, and centrifugal pumps play an important part in conveying relevant flow rates for fluids in varied procedures. The fluid handling systems market is witnessing substantial demand owing to the chemical industry with its manifold procedures needing solvents, solutes and amenities such as water.
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Fluid Handling Systems Market Report Attributes
| Report Attributes | Details |
| Market value in 2023 | USD 72,765.23 million |
| Market value in 2032 | USD 1,08,322.43 million |
| CAGR | 4.5% from 2024-2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Key Highlights of the Report:
- Several factors, including inventions in pump designs, valve technologies, and automation, are driving the market for fluid handling systems.
- The market is primarily segmented mainly based on product, application and region.
- Asia Pacific dominated the market with the largest fluid handling systems market share.
Fluid Handling Systems Market Key Players
- ALFA LAVAL
- Christian Bürkert GmbH & Co. KG
- CIRCOR International, Inc.
- Crane Company
- Danfoss
- Dover Corporation
- Flowserve Corporation
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Top Market Developments
Growth Drivers and Trends:
Surge in the Food Processing Industry: The food processing industry is a notable consumer of fluid handling systems, engaging them in several flow operations. This growth is driven by escalated food demand in advancing countries and is anticipated to assist in the augmentation of the market in the anticipated future.
Progression in Sensor Technologies: Progression in sensor technologies, the Internet of Things and automation have caused the advancement of these systems. These systems can observe and regulate fluid transfer procedures in real-time, maximizing presentation, lessening mistakes, and sanctioning prophetic sustenance. Inventions in pump outlines, valve technologies, and automation assist in speedier and more dependable fluid transfer procedures curtailing energy intake and functional prices supporting the fluid handling systems market growth.
Reduction of Contamination Risks: The pharmaceutical sector's growing demand for fluid handling systems emanates from strict governmental caliber requiring contamination-liberated functions. These systems sanction clarity by engaging substances and technologies that decrease contamination probabilities.
Challenges:
High Investment Costs: Elevated funding and functional prices linked with fluid handling systems give rise to significant challenges for acquisitions. Inceptive capital disbursement for instruments and framework is sizeable while continuing operational disbursement involves sustenance, observation, and conformity prices.
Which Region Leads the Fluid Handling Systems Sector?
Asia Pacific: The Asia Pacific dominated the fluid handling systems industry with the largest revenue share. The region's dominance in the market can be attributed to the elevated need for varied fluid handling system hardware covering industries such as water, wastewater, building and construction, energy, and power, as well as oil and gas.
North America: North America is anticipated to witness the fastest growth in the fluid handling systems market over the estimated period. This is due to the United States encountering growth propelled by growing requirements for wireless frameworks to observe instruments and surging demand for control valves in the oil and gas sector.
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Segmental Overview
By Product Outlook
- Pumps
- Control Valves
- Flow Meters
- Hoses
- Others
By Application Outlook
- Aerospace
- Electronics
- Automotive
- Oil & Gas
- Industrial Manufacturing
- Food & Beverages
- Rail
- Marine
- Energy & Utilities
- White Goods
- Construction
- Pharmaceuticals
- Water & Wastewater Treatment
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea, Australia)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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