The fluid conveyance system market is currently estimated to be worth US$ 19.10 billion in 2022, and it is anticipated to expand at a promising CAGR of 5.6% between 2022 and 2032 to reach a market size of US$ 32.93 billion. Any hydraulic system used for a specific purpose is only as effective as the fluid delivery system it is made up of. Employing the proper type of material can mean the difference between years of successful operation and frequent breakdowns and failures when considering the amount of pressure and temperature extremes that the fluid conveyance systems experience.
The most crucial requirement for any fluid conveyance system is to keep the fluid flowing freely and smoothly throughout the system, as well as to keep the fluid being transported clean.
Fluid Conveyance Systems Market: Drivers and Restraints
The rising adoption of mechatronics- The integration of hydraulics with electronics is increasing the usage of hydraulics in mechatronic systems in various end-use industries, which in turn fuels the growth of the global fluid conveyance systems market.
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Rising construction activities- Sustained infrastructure and urbanization investment in the developing economies, especially in the BRIC region, will cause a robust growth in the fluid conveyance system market during the forecast period.
High demand for minerals, particularly in the developing economies, is expected to secure growth in equipment for mining activities, comprising of excavators, trucks, drilling machines, dumpers, etc., which would in turn increase the demand for fluid conveyance system during the forecast period.
Fluid Conveyance Systems Market: Regional Outlook
The global fluid conveyance systems market is projected to witness a considerable growth in CAGR from 2015 to 2025. Currently, North America and Western Europe are the matured market for fluid conveyance systems providers. However, Asia-Pacific, and MEA are expected to become lucrative regional market for key players operating in the global fluid conveyance systems market. FMI forecasts, the market in Asia-Pacific region is expected to grow at fastest CAGR over the forecast period.
Fluid Conveyance Systems Market: Key Players
Some of the major players identified in the global fluid conveyance systems market are Eaton Corporation, United Fiberglass of America, Inc., Cooper Fluids Systems, Leading Edge Hydraulics, Parker-Hannifin Corporation, Purvis Industries, Ltd., Royal Industries, Inc., Donald Engineering, Gulf Controls Company, etc.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Fluid Conveyance Systems Market: Segmentation
The global fluid conveyance systems market is broadly segmented on the basis of type, raw material, application, and region.
On the basis of type, the global fluid conveyance system is segmented into:
- tubes/pipes
- high pressure ducts
- low pressure ducts
On the basis of Raw material types, the global fluid conveyance system is segmented into:
- ceramic
- fiberglass
- metals
- concrete
- plastic, etc
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