Europe Tops the Fluid Handling Systems Market in EMEA| Technavio
December 16 2017 - 10:03AM
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.
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Technavio has published a new market
research report on the fluid handling systems market in EMEA from
2017-2021. (Graphic: Business Wire)
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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EMEA report free of cost
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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