The global demand for gas and liquid flow management systems is expected to grow at a CAGR of 3.9% between 2022 and 2032. The market for gas and liquid flow management systems is currently worth US$18.58 billion and is expected to grow to US$27.25 billion by 2032. The global industry that manufactures and sells systems for measuring, controlling, and regulating the flow of gases and liquids in various industrial applications is referred to as the gas and liquid flow management systems market. Oil and gas, chemical processing, power generation, and water and wastewater treatment are all industries that use these systems.
Factors driving the market include rising demand for energy and chemicals, the need for accurate and dependable flow measurement and control, and a growing emphasis on lowering operational costs and improving process efficiency. Furthermore, the adoption of digital technologies such as the Industrial Internet of Things (IIoT) and artificial intelligence (AI) is expected to open up new opportunities in the market for gas and liquid flow management systems.
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Key Takeaways:
- By product type, flow meter and pumps segments are expected to collectively hold a prominent share of the global gas and liquid flow management systems market by 2032.
- Based on end use, oil and gas industry is likely to be the most remunerative in the global gas and liquid flow management systems market during the forecast period.
- The gas and liquid flow management system market in North America is expected to reach US$ 4.7 billion in 2022.
- Europe holds around 22.9% share of the global gas and liquid flow management systems market and is likely to be valued at US$ 4.25 billion in 2022.
- China gas and liquid flow management system market is set to reach around US$ 2.75 billion in 2022.
Growth Drivers:
- Rapid industrialization along with increasing adoption of automation is triggering the growth in gas and liquid flown management systems market.
- Implementation of stringent regulations for improving workers’ safety is likely to push the demand for gas and liquid flow management systems during the forecast period.
- Technological advancements in product types like flow meters, control valves, pumps, gas metering systems, rotary valves, etc. will create lucrative opportunities for manufacturers during the next ten years.
Competitive Landscape:
Leading suppliers of gas and liquid flow management systems are constantly adding new products to their product lines. In addition, they are creating joint ventures and partnerships to raise their revenue share.
For instance,
- Emerson unveiled a brand-new Micro Motion Coriolis flow meter in September 2020 that is intended for use in high-pressure hydrogen dispensing and chemical injection applications.
- Azbil Corporation unveiled the improved Thermal Micro Flow Meter model F7M in May 2019.
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Key Companies Profiled by Fact.MR
- Fluid Metering Inc.
- Bronkhorst High-Tech B.V.
- ProMinent
- Dover Corporation
- WIKA Instruments Ltd.
- Ingersoll-Rand (India) Ltd.
- Zycus Inc.
- JSG Industrial Systems Pty Ltd.
- MKS Instruments
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Univent Systems Limited
