Fluid Handling System Market - Forecasts from 2024 to 2029

Fluid Handling System Market - Forecasts from 2024 to 2029

The fluid handling system market is evaluated at US$67.486 billion for the year 2022 and is projected to grow at a CAGR of 5.19% to reach a market size of US$96.17 billion by the year 2029.

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 changes. However, 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.

MARKET TRENDS:

Numerous significant factors are propelling the fluid handling system market growth. The need for sophisticated fluid handling systems that can easily integrate into automated production processes and boost productivity and efficiency is being driven by industrial automation and the Industry 4.0 revolution. Adherence to strict regulations about environmental protection and worker safety is also encouraging firms to invest in dependable and legal fluid handling systems.

The market is rising because of the increased focus on water and wastewater treatment as well as technology developments like IoT integration and smart sensors. Furthermore, the fluid handling system market has a lot of room to grow due to rising demand from end-use sectors including oil and gas, chemical processing, pharmaceuticals, and food and beverage industries, as well as the construction of infrastructure in emerging regions.

MARKET DRIVERS:

Growing demand for consumer goods, oil, gas, energy, and power is anticipated to drive the market’s growth.

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 anticipated to lead 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, 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
Increasing adoption of industrial automation is predicted to positively impact fluid handling systems market growth.

The fluid handling systems market is expected to benefit greatly from the growing use of industrial automation. Automation technologies are essential for optimizing workflow and simplifying processes as industries aim for increased productivity, efficiency, and cost-effectiveness in their operations. Systems for precisely controlling, monitoring, and managing fluids, such as liquids, gases, and slurries, are essential parts of automated manufacturing processes. Automated fluid handling systems have several benefits, such as increased fluid delivery precision, uniformity, and repeatability; they also improve safety and demand less labor.

As a result, it is anticipated that demand for sophisticated fluid handling systems with automation features such as PLCs, sensors, actuators, and integrated control systems will increase. Furthermore, the market is expected to grow as long as technological developments keep improving the functionality and dependability of automated fluid handling solutions. This presents manufacturers and suppliers with profitable opportunities to satisfy the changing demands of various industries across the globe.

MARKET RESTRAINTS:

The fluid handling systems market is constrained in several ways, despite its expansion. The substantial upfront cost associated with installing and integrating fluid handling systems, particularly for sophisticated automated solutions, is a major obstacle. This may discourage SMEs (small and medium-sized businesses) from using these technologies, which would restrict market expansion.

Another limitation is the absence of personnel with the necessary skills to manage and maintain sophisticated fluid-handling equipment. Further impediments to market development may include concerns about how well fluid handling technologies integrate with the current infrastructure and the possible disturbance that might result from system outages during installation or maintenance resulting in restrained market growth.

Asia Pacific is anticipated to be the major regional market.

The need for various kinds of fluid handling systems in the Asia Pacific region is predicted to increase during the anticipated period in several industries, including energy and electricity, oil and gas, and building and construction.

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. 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.

Key Developments:

In February 2024, Fluid Metering Inc. (FMI) announced the appointment of Girtec AG, a Swiss company, as a strategic distributor for the German, Swiss, Austrian, and Liechtenstein markets for our ultra-precise fluid control metering and dispensing solutions.
In October 2023, in Jiading, Shanghai, TI Fluid Systems, a top global provider of thermal and fluid systems solutions, hosted the grand launch of its e-Mobility Innovation Centre (eMIC). After prior achievements in Germany, Japan, and Korea, TI Fluid Systems has further created four eMICs globally.
In February 2022, at the SLAS 2022 International Conference and Exhibition in Boston, SPT Labtech, a pioneer in the world of laboratory automation for the life sciences, announced the introduction of the DC1, a flexible, 4-in-1 automated liquid handling platform.

With the introduction of a new class of accessible and small automated pipettors, many labs have more economical options to automate and simplify routine manual or semi-human pipetting procedures for a wide range of applications.

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
United Kingdom
Germany
France
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
Japan
India
South Korea
Taiwan
Thailand
Indonesia
Others