LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the fluid handling systems market in EMEA predicts a CAGR of close to 5% during the period 2017-2021.
The report segments the fluid handling systems market in EMEA by product (hardware, services, and software), by end-user (oil and gas industry, chemical and petrochemical industry, water and wastewater industry, and power generation industry), and by geography (Europe, Middle East, and Africa). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the fluid handling systems market in EMEA, according to Technavio industrial automation researchers:
- Installation of new pipelines and building terminals: a major market driver
- In 2016, the hardware segment dominated the market by occupying more than 62% share
- In 2016, Europe accounted for a major market share of around 39% of the fluid handling systems market in EMEA
- AxFlow, Boyser, Colfax, Crane, and Dover are some of the vendors in the market
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Installation of new pipelines and building terminals: a major market driver
Installation of new pipelines and building terminals is one of the major factors driving the fluid handling systems market in EMEA. The increasing investments in the installation of new pipelines and building terminals to store oil and Liquified Natural Gas 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. This has made the tank terminal industry support the adoption of fluid handling systems. In the scenario of high oil prices, due to the increased trade of oil and gas, oil terminal owners make profits. This increases the demand to store oil and gas products.
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Europe: largest fluid handling systems market in EMEA
The fluid handling systems market in Europe is witnessing a steady growth rate and has a major potential for market growth momentum from the industries such as water and wastewater, chemical and petrochemicals, and power generation. The implementation of automation in end-user industries and the adoption of smart products are expected to drive the fluid handling systems market in Europe. The rapidly growing wind energy plants, both in onshore and offshore fields, are providing major opportunities for the adoption of the latest fluid handling systems. This will drive the European market during the forecast period.
According to Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for research on automation, “The fluid handling systems market in Europe is expected to dominate others because of the higher adoption of sensors and installation of the latest fluid handling equipment with related services. This will enhance the growth of local enterprises in this region.”
Competitive vendor landscape
The fluid handling systems market in EMEA is moderately fragmented. The competition between vendors is increasing concerning product features, prices, customized solutions, and monitoring services offered. Leading vendors in EMEA are Boyser, Crane, Colfax, Flowserve, and Graco. These key companies provide products and services for the fluid handling systems market in EMEA. The sales of pumps and other instrumentation for fluid handling systems takes place through direct and indirect sales channels through suppliers and local representatives and certified distributors. The established vendors emphasize on expanding geographically, increasing production capacities, gaining contracts to deploy and provide monitoring services from end-user industries, and upselling products by upgrading the existing technology.
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