Fluid Handling Systems Market Size, Share and Global Trend By Component (Pumps, Control Valves, Storage Tanks, Others), By End-Use Industry (Chemical, Food Processing, Power Generation, Marine, Others) and Regional Forecast, 2024-2032

Fluid handling systems are comprised of different components that aid in the efficient and safe storage and flow of the fluids for different processes. The fluid handling systems are used in the different applications that include cooling, heat transfer, filtration, dispensing, metering, storage, flow control, and media separation among other applications in different end-use industries.

Manufacturers involved in the fluid handling systems market are focused on developing advanced fluid handling systems such as automated fluid handling systems in order to gain a competitive advantage over other players in the market. These automated fluid handling systems have applications in the pharmaceutical industry and can be customized as per the user requirements.

By component type, the fluid handling system market is bifurcated as pumps, control valves, storage tanks, and flow meters, among others. The pumps are further classified as positive displacement and centrifugal pumps. The pumps are used to provide suitable flow rates to the fluids used in the different processes. The control valves are further classified as sliding, rotary and diaphragm valve among others.

The valves aid in the control of the flow rate of the fluids. The storage tanks are used for the safe storage of the fluids. The fluid handling system market by end-use industry is segmented on applications of fluid handling systems in the chemical, food processing, marine, power generation and oil and natural gas industry among others. The chemical industry is expected to dominate the fluid handling system market owing to a wide range of applications of fluid handling systems in the chemical industry.

Different processes are carried out in the chemical industries which require the solvents, solutes, and a utility such as water. In order to meet the flow requirements, fluid handling systems have high demand in the chemical industry. The growth of the chemical industry is thus expected to create a platform for the sales of the fluid handling systems in the coming years.

Fluid handling systems are in demand in the food processing industry for the flow operations. In recent years, the food processing industry has witnessed significant growth mainly driven by increasing food demand in developing countries. The growth of the food processing industry is likely to add to the growth of the fluid handling systems market in the near future.

Fluid handling systems are used for handling various types of fluids. However, in the case of handling corrosive or reactive fluids, the choice of material of construction is the key criterion. The materials used in these cases add in the cost of the fluid handling system, making it non-economical. The non-economical fluid handling systems are expected to affect the growth of the fluid handling systems negatively over the forecast period.

Key Players Covered

Some of the major companies that are present in the global fluid handling systems market are Alfa Laval, KSB Company, Crane Co., Colfax Fluid Handling, Graco, VRC industrial Solutions, Watec Fluid Handling Systems Co., Ltd, ARaymond Network, Parker Hannifin, Chesterton, LobePro, IFH Group, Alemite Lubrication, Des-Case Corporation, Alfa Wasserman, and Fraser Ross Ltd among others.

SEGMENTATION

Regional Analysis

The global fluid handling systems market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The food processing industry in the U.S has gained traction in recent years owing to the increasing demand for meat and beverages. The growth of the food processing industry in the U.S is likely to affect the growth of the fluid handling system market positively in the North America region. The Europe region has witnessed significant growth in the sales of specialty chemicals and polymers in the recent past. The chemical industry in the region has seen robust growth in the previous years. The growing chemical industry in the Europe region is expected to create a platform for the growth of the fluid handling system market in the region. The power generation industry in Latin America is growing at a steady rate owing to the initiatives taken by governments of Mexico and Brazil to provide power across the countries. Owing to the growth of the power generation industry, the fluid handling systems market is expected to witness decent growth in the Latin America region. The power generation industry in the Middle East and Africa region is expected to witness a considerable increase in the coming years owing to the increased renewable energy capacities in the region. The growth of the power generation industry in the Middle East and Africa is expected to add in the growth of the fluid handling systems in the coming years. Asia Pacific region is expected to provide lucrative opportunities for the growth of the fluid handling systems market over the forecast period. The growth of the chemical and food processing industries in the region is driven by the increasing production capacities of chemicals and food and beverages in China and India. The growth of these industries in China and India is expected to boost the fluid handling systems market growth in the Asia Pacific region.

Key Industry Developments

• In June 2019, Ohio Transmission Corporation has announced the acquisition of two companies named as Furey Filter and Pump and PSI Engineering. These companies offer services related to the repairing of the fluid handling systems.
• In February 2019, Ingersoll-Rand has announced its plan to acquire Precision Flow Systems. Precision Flow Systems is involved in providing flow management systems to numerous industries. Ingersoll-Rand has planned to buy the company for US$ 1.45 Billion form Accudyne Industries.