Fluid Handling System Market is estimated to reach US$96.17 billion by 2029 at a CAGR of 5.19%

The fluid handling system market is anticipated to grow at a CAGR of 5.19% from US$67.486 billion in 2022 to US$96.17 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, May 16, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the fluid handling system market is projected to grow at a CAGR of 5.19% between 2022 and 2029 to reach US$96.17 billion by 2029.

The key growth drivers to propel the fluid handling system market during the forecasted period are:

• The growth in the adoption of automation for industrial procedures makes the production process for the manufacturers and workers in the manufacturing unit easy and convenient. These fluid-handling systems can handle different liquids based on temperature and mass that can be easily integrated with the automation present in the manufacturing industries. Thus, the growing automation in industries is expected to project growth in the fluid handling market. For instance, industry giants like L&T have automated 60% of their construction business and automakers like Mahindra have automated 70% of their body shop methods.

• Another factor that boosts the sales of fluid handling systems in the market is the growing demand for consumer goods like oil, gas, and energy among the general public across the globe that needs equipment like fluid handling systems to efficiently run their day-to-day operations. The manufacturing and refining of petroleum products are one of the consumer goods that require fluid handling systems to properly function and provide a high production rate. Hence, the growth in the consumer goods industry is anticipated to fuel fluid handling systems.

Access sample report or view details: https://www.knowledge-sourcing.com/report/fluid-handling-system-market

The fluid handling system market when segmented by component can be divided into four types- pumps, valves, seals, and gaskets. The different types of components in the fluid handling systems help in providing efficient functioning of the fluid handling systems that further help to boost the production process which leads to its widespread adoption by major production industries.

The pump component of the fluid handling system is one the integral components in the fluid handling systems that help in pumping the different kinds of liquids with a variety of temperatures and viscosity across long ranges effectively and without compromising the quality of the liquid. Therefore, different components of fluid handling system that improves the production process are projected to fuel the market over the forecast period.

The fluid handling system market when segmented by industry vertical can be divided into seven types- oil & gas, energy & power, food & beverage, chemical, healthcare, metallurgy, and construction. The different industry verticals use this fluid handling system to improve their manufacturing or production process for instance, the oil & gas industry uses this fluid handling system for refining and production of petroleum products. Hence, the wide range of end-users in different industry verticals is expected to boost the fluid handling system market.

The Asia Pacific region is expected to witness significant growth in the fluid handling system market during the forecasted period as this region has a growing demand for consumer goods in the region like oil, gas, and energy with rapid growth in urbanization and industrialization across the region. In countries like India and China where industrial growth is at a rapid pace coupled with growth in economies of these countries the need for fluid handling systems in the manufacturing units across these regions is expected to grow at a significant rate. These factors are predicted to propel growth in the fluid handling system market in the Asia Pacific region.

The research includes several key players from the fluid handling system market, such as Emerson Electric Co, Christian Burkert GmbH & Co. KG, Alfa Laval, Ingersoll-Rand plc, IDEX, Dover Corporation, Crane Co., Circor International, Inc., Graco Inc., and Flowserve Corporation.

The market analytics report segments the fluid handling system market using the following criteria:

• By Component

o Pumps
o Valves
o Seals
o Gaskets

• By Industry Vertical

o Oil and Gas
o Energy and Power
o Food and Beverage
o Chemical
o Healthcare
o Metallurgy
o Construction
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Mentioned:

• Emerson Electric Co
• Christian Burkert GmbH & Co. KG
• Alfa Laval
• Ingersoll-Rand plc
• IDEX
• Dover Corporation
• Crane Co.
• Circor International, Inc.
• Graco Inc.
• Flowserve Corporation

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Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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