Global Fluid Handling Systems Market Report 2023: Increase in Expenditures and Rising Consumer Spending Drives Growth

DUBLIN, May 17, 2023 /PRNewswire/ -- The "Global Fluid Handling Systems Market Size, Trends and Growth Opportunity, By Pump, By Flow Meter, By Control Valve, By Industry, By Region and forecast till 2030" report has been added to  ResearchAndMarkets.com's offering.

The global fluid handling systems market was valued at USD 72439.20 million in 2022 and is slated to reach USD 98944.52 million by 2030 at a CAGR of 5.50% from 2023-2030.

Companies Mentioned

• Enovis (US)
• Crane Co. (UK)
• Graco Inc. (US)
• Flowserve Corporation. (US)
• Ingersoll Rand (Ireland)
• iDEX (India)
• SPX FLOW (US)
• Dover Corporation (US)
• Burkert (Germany)
• Tecan Trading AG (Switzerland)

Fluid handling systems are used to measure, manage, and direct the flow of liquids as well as a variety of other fluids, such as slurries, chemicals, sewage water, and hazardous gases. According to a report by the International Energy Agency (IEA), around 40% of the world's CO2 emission reductions are required to keep global warming below 2 C by 2050. By raising end-use energy efficiency, this can be accomplished.

Market Drivers

One of the key factors propelling the growth of the fluid handling systems market is the rising use of fluid handling systems in the chemical, oil, and gas sectors to handle hazardous chemicals, lubricants, and other toxic substances. In these businesses, it is essential to handle these chemicals safely.

The improvement in the efficiency of industrial machinery and the lengthening of lubricant life due to ongoing lubricant filtration speed up market expansion. Continuous use of these systems also helps to reduce the costs associated with machinery repairs and production downtime.

The pharmaceutical industry is increasingly using fluid handling systems to prevent contamination that could result from improper chemical handling, which is causing the market to grow more quickly. With the demand for high-quality pharmaceutical products, the integration of the fluid handling system in the pharmaceutical industry has become essential.

Additionally, the market for fluid handling systems is positively impacted by expanding urbanisation, lifestyle changes, an increase in expenditures, and rising consumer spending.

Market Restraints

On the other hand, it is anticipated that expensive component adoption and high investment and operating expenses for fluid handling systems will restrain market expansion.

Additionally, it is anticipated that the fluid handling systems market will face challenges during the projection period due to the unorganised sector's manufacture of components used in these systems and fierce competition given by local makers.

Market Segmentation

By Pump

• Centrifugal Pumps
• Positive Displacement Pumps

By Flow Meter

• Magnetic
• Coriolis
• Differential Pressure
• Ultrasonic
• Vortex
• Turbine
• Thermal
• Multiphase
• Variable Area

By Control Valve

Linear Valve

• Gate Valve
• Diaphragm Valve
• Other Valves

Rotary Valve

• Ball Valves
• Butterfly Valves
• Plug Valves

By Industry

• Oil and Gas
• Water and Wastewater
• Energy and Power
• Pharmaceutical
• Food and Beverage
• Chemical
• Building and Construction
• Pulp and paper
• Metal and Mining
• Others

By Region

North America

• U.S
• Canada
• Mexico

Latin America

• Brazil
• Argentina
• Colombia
• Peru
• Chile
• Venezuela
• Rest of Latin America

Europe

• Germany
• France
• UK
• Russia
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Australia
• New Zealand
• Singapore
• Malaysia
• Rest of Asia Pacific

Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/kd7r25

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SOURCE Research and Markets