Fluid Handling System Market is Set to Flourish & Reach USD 32.81 Billion by 2028

Vantage Market Research

Dec 03, 2021

The Fluid Handling System Market is expected to reach USD 32.81 Billion by 2028, growing at a CAGR of 6.4 % between 2021 to 2028. The fluid handling system is a vital part of the medical industry. As the healthcare enterprise encounters many challenges to prevent infection and guarantee product protection & quality durability production, thus the worldwide demand for high-quality healthcare products increases the establishment of the fluid handling system in the sector.

Key Findings:

  • The pumps segment is projected to expand at the fastest CAGR exceeding 6.8% over the forecast period owing to the increasing adoption as it provides suitable flow rates to the fluids used in the different processes.
  • The pharmaceutical segment held a market share of around 32% in 2020. This share is due to the rising demand for advanced systems in the chemical and wastewater management industries.
  • Asia Pacific is expected to expand at a CAGR of over 7% from 2021 to 2028. This surge is attributed to the rising demand for fluid handling systems in developing economies such as China and India.

Some of the key players in the fluid handling system market include Colfax Corporation, Crane Co., Flowserve Corporation, and Graco Inc., Bürkert GmbH & Co. KG, Dover Corporation, INDEX Corporation, Ingersoll-Rand plc, and SPX Flow, Inc., Des-Case Corporation, EBARA International Corporation, among others.  The market is comprised of a high degree of competition due to the presence of numerous key players.

Established companies are required to reduce emissions by producing qualified and ecologically sound fluid handling systems, therefore, increasing the requirement and improvement in the substance and power efficiency with an innovative design and powerful system of the liquid administration system. Industrial growth, the oil, and gas sector, and other sectors are the characteristic that measures the fluid handling system market. Fluid handling systems that are used in the oil & gas sector and chemical industry have to manage with lubricants toxic material and toxic substances. So, the utilization of such mixtures is of principal concern to improve mechanical equipment performance and high equipment repair expenses and prevent manufacturing downtime. Furthermore, during the manufacturing and development of pulp from paper, various elements need to be enhanced and many parameters require to be regulated and tested. Thus, creating a positive scope for the overall fluid handling systems market growth.

North America is expected to record the highest CAGR, owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. Many experiments are conducted out in the chemical industry which requires solvents, solutions, and a utility like water, acid, and others. Thus, to meet the flow specifications, fluid handling systems have a great need in the chemical industry. The increase of the chemical industry is thus anticipated to build a platform for the international sales of fluid handling systems in the coming times.