Kenneth Research, in its repository of market research reports, has recently added a report on Fluid Handling System Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Fluid Handling System Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fluid Handling System Market products.
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The Global Fluid Handling System Market was valued at USD 55.35 billion in 2016 and is projected to reach USD 87.12 billion by 2025, growing at a CAGR of 4.96% from 2017 to 2025.
Fluid handling is a technology that gives the player access to more advanced ways to interact with liquids. It enables storage tanks and barrels, providing a way to transport liquids long distances via conveyor belts or railway cargo wagons. Benefits of fluid handling system include â€“ reduced wear, lower maintenance costs, less product loss, longer life.
1. Market Drivers
1.1 Integration of IoT with fluid handling system
1.2 Increasing focus on plant automation
1.3 Increasing demand for advanced systems in chemical and wastewater management industries
1.4 Growing demand for different types of pumps in the oil and gas industry
2. Market Restraints
2.1 Competition from local manufacturers
2.2 High initial setup and operational cost of fluid handling system
The Global Fluid Handling System Market is segmented on the flow meter, pump, control valve, vertical, and region.
1. Flow meter:
1.4 Differential Pressure
1.5 Variable Area
2. By Pump:
2.1 Positive Displacement Pumps
2.2 Centrifugal Pumps
3. By Control Valve:
3.1 Rotary Valve
3.1.1 Ball Valves
3.1.2 Butterfly Valves
3.1.3 Plug Valves
3.2 Linear Valve
3.2.1 Gate Valve
3.2.2 Diaphragm Valve
4. By Vertical:
4.1 Pulp and paper
4.2 Metal and Mining
4.4 Food and Beverage
4.5 Energy and Power
4.6 Oil and Gas
4.7 Water and Wastewater
4.9 Building and Construction
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
9. SPX Flow
10. Alfa Laval
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Fluid Handling System Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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