The Fluid Handling System Market is projected to be valued at USD 73.28 Billion by 2023, growing at a CAGR of 4.8% between 2017 and 2023. The growth of this market is propelled by the increasing demand for different types of pumps in the oil and gas industry, high demand for advanced systems in the chemical and wastewater management industries, and increased focus on plant automation.
The fluid handling market ecosystem comprises raw material suppliers, component manufacturers, system integrators, and distributors. Alfa Laval AB (Sweden), Colfax Corporation (US), Crane Co. (US), Flowserve Corporation (US), and Graco Inc. (US) are among the leading players in the fluid handling system market. Other key players in the market include Bürkert GmbH & Co. KG (Germany), Dover Corporation (US), INDEX Corporation (US), Ingersoll-Rand plc (Ireland), and SPX Flow, Inc. (US).
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Key Target Audience
- Associations and industrial bodies
- Component suppliers and distributors
- End users of fluid handling systems across industries
- Government bodies such as regulatory authorities and policymakers
- Industrial automation equipment providers
- Market research and consulting firms
- Original equipment manufacturers (OEMs)
- Semiconductor product designers and fabricators
The water and wastewater industry is projected to hold the largest share of the overall fluid handling system market during the forecast period. The water and wastewater industry is widely adopting automation and has been integrating centralized control systems to monitor the quality of water. Moreover, it has a strong focus on energy management, and the need to reduce lifecycle costs to improve operating margins would boost the adoption of fluid handling control systems in this industry. Factors such as population growth, especially in urban areas, industrial development, increasing emphasis on wastewater treatment, international commitments and targets, and government policies would drive the growth of the market for the water and wastewater industry.
APAC held the largest share of the overall fluid handling system market in 2016 owing to the increasing demand for fluid handling systems in emerging economies such as India, China, and Japan. The rising demand for different types of fluid handling system hardware in various industries, such as water and wastewater, building and construction, energy and power, and oil and gas, is further expected to boost the growth of the market in APAC the coming years. The market in RoW is expected to register the highest CAGR between 2017 and 2023 owing to the major oil and gas industry in the region, as well as the growing water and wastewater, and mining and construction industries. As most countries in the Middle East have a scarcity of freshwater resources, water treatment is a huge source of water for non-potable purposes, such as irrigation and industrial use, which drives the demand for fluid handling systems in the region.
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