Fluid Handling Systems Market in EMEA 2017-2021
About Fluid Handling Systems
The market for fluid handling systems in EMEA is growing, as fluid handling systems are used in critical applications to measure and control the fluid flow in end-user industries. Fluid handling systems consume the maximum energy in end-user industries. Developing countries in EMEA are experiencing a stable growth trend due to new deployments of fluid handling systems in industries such as water and wastewater, and power generation. The key manufacturers of fluid handling systems are providing the latest fluid handling systems, and these are made available in the growing marketplaces in Africa and the Middle East.
Technavio’s analysts forecast the fluid handling systems market in EMEA to grow at a CAGR of 4.63% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the fluid handling systems market in EMEA for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Fluid Handling Systems Market in EMEA 2017-2021
Technavio recognizes the following companies as the key players in the fluid handling systems market in EMEA: Boyser, Colfax, Crane, Flowserve, and Graco.
Other Prominent Vendors in the market are: Atlantic Pumps, AxFlow, Dover, ERIKS, KETO, LEWA, Lutz, MEOS, Moyno, Permex, Samoa, SPX FLOW, Tecnium, Trelleborg, and Wärtsilä.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing deployment of IIoT. The incorporation of IIoT in process industries has led to strong market development features. Currently, IIoT is making a major monetary impact on oil and gas refineries and pipelines worldwide. It provides solutions to deal with safety and performance issues in fluid handling systems.”
According to the report, one driver in the market is installation of new pipelines and building terminals. The increasing investments in the installation of new pipelines and building terminals to store oil and Liquified Natural Gas (LNG) are driving the fluid handling systems market in EMEA. These investments include regional and transcontinental pipelines. Since the last decade, the demand for oil and gas has increased, which has made the tank terminal industry support the adoption of fluid handling systems. In the scenario of high oil prices, owing to the increased trade of oil and gas, oil terminal owners make profits; this increases the demand to store oil and gas products. However, in the scenario of low oil prices, the industry is stimulated by the trading and marketing activities.
Further, the report states that one challenge in the market is high capital investments. With a moderate rise in competition, vendors need to develop fluid handling systems with superior quality at low cost, depending on the industrial or end-user needs. The traditional fluid handling equipment is cheaper when compared with the latest ones, due to innovations such as reduction in size, and the use of corrosion-resistant materials. Also, due to the high initial cost for fluid handling systems, the adoption of the latest fluid handling systems is affected. Installation of such fluid handling systems also costs more than that of fluid handling systems with ordinary pumps. The cost of raw materials used in pumps also fluctuates; this plays a vital role in fixing capital investments in end-user industries.
Boyser, Colfax, Crane, Flowserve, and Graco, Atlantic Pumps, AxFlow, Dover, ERIKS, KETO, LEWA, Lutz, MEOS, Moyno, Permex, Samoa, SPX FLOW, Tecnium, Trelleborg, and Wärtsilä.