Fluid Handling System Market - Forecasts from 2022 to 2027

The fluid handling system market is projected to grow at a CAGR of 4.94% during the forecast period to reach US$318.613 billion by 2027, from US$227.361 billion in 2020.

A fluid handling system consists of numerous interconnected pieces of equipment that are intended to exploit the mass and energy of a moving fluid to carry out tasks, transfer heat, or speed up production processes. Depending on the application, the system's design, the fluids it uses, and its function will change. It might be challenging to comprehend how systems operate and how to debug and optimize them due to the complexity of the majority of systems. The fluid handling system market is segmented into components, industry verticals, and geography.

The growing population and simultaneous increase in the proportion of the urban population are leading to the rising demand for consumer goods, oil and gas, energy, and power.

The Oil market report of the International Energy Agency published in August 2022 stated that the World Oil demand is now forecasted at 99.7 mb/d in 2022 and 101.8 mb/d in 2023. This is leading to the growth of the fluid handling system market as these systems are used in the production of these products. Moreover, the growing trend of automating plant operations is further supplementing the growth of the fluid handling system market, as the manufacturers involved in this market are focusing on developing advanced fluid handling systems to gain a competitive advantage over other players in the fluid handling system market. Furthermore, the development of terminals and storage facilities for the oil and gas industry, as well as the installation of new pipelines, will all contribute to the growth of the fluid handling system market. One of the major factors influencing the growth of the Fluid Handling System Market is the fierce competition offered by local producers to established manufacturers. In the chemical and wastewater management industries, there is a considerable demand for cutting-edge systems

The Fluid Handling systems market is expected to be dominated by the Asia Pacific region, due to the rising need for fluid handling systems in developing nations like India, China, and Japan.

The need for various kinds of fluid handling systems hardware is predicted to increase during the anticipated period in a number of industries, including energy and electricity, oil and gas, and building and construction in the region. The significant oil and gas industry in the area, as well as the expanding water and wastewater, mining, and construction industries are contributing to the growth of the fluid handling system market in this region. The growing population in this region is attributed to the growth of end-user industries like the oil and gas industry, energy and electricity, etc. Also, the population growth of countries like China and India are major factors propelling the end-user industries, which is consequently fueling the fluid handling system market in this region.

Key Developments:

In July 2022, Emerson launched the TESCOMTM Anderson Greenwood Instrumentation H2 Valve series for hydrogen applications up to 15000 pounds per square inch. The new series solutions can reliably isolate process pressure in high-pressure gas applications such as hydrogen fueling stations and tube trailers. The positive double block design of the Double Block Bleed (DBB) valve offers two layers of the positive shutdown that protect maintenance personnel from high pressure while performing instrument maintenance.

Alfa Laval brought an innovative product called the Alfa Laval DuraCirc® pump to the market in June 2021. The newly launched product is meant for hygienic fluid handling industries and it is focused on safety while ensuring an efficient performance that meets the latest global hygiene standards.

Market Segmentation:

By Component

Pumps

Valves

Seals

Gaskets

By INDUSTRY VERTICAL

Oil and Gas

Energy and Power

Food and Beverage

Chemical

Healthcare

Metallurgy

Construction

Others

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Spain

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

India

South Korea

Indonesia

Taiwan

Others