Fluid Control Market Trends And Segments Forecast To 2029
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Oil & Gas Industry Segment is expected to Dominate the Fluid Control Market:
Based on the application, the global Fluid Control market is segmented into the oil & gas industry, water & wastewater treatment, pharmaceuticals, food & beverages, others. Oil & gas industry segment is expected to account for a larger revenue share in the global fluid control market. In oil and gas industries even, a small leakage can cause disaster. The flow control system has an important role in safeguarding plants from catastrophe and maximizing the production of the different products. the growing oil & gas industries due to increased use of automobiles and cooking gas, and increased demand for petrol & diesel in developed countries is expected to drive the growth of fluid control market over the forecast years.
Asia Pacific Fluid Control Market:
The Asia Pacific fluid control market is expected to increase over the forecast period due to the increasing urbanization and rapid industrialization in emerging countries like China, India, Japan. In addition, increasing demand for petroleum products and growing oil and Gas industries in this region is expected to drive the growth of fluid control market. For instance, according to IBEF, India is expected to contribute to global non-OECD petroleum consumption growth significantly in the forecasted period. Crude oil imports have increased intensely from USD 70.72 billion in 2017 to USD 94.3 billion in 2022. Moreover, increasing demand for the power sector is expected to boost the market growth in the Asia Pacific region over the forecasted period.
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Fluid Control market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In August 2021, Azmil launched its digital mass flow controller model F4Q. A new controller feature for high speed and high accuracy response.
The Fluid Control market is segmented based on product type, application, control method, and geography.
Based on the product type, the market is segmented into the following:
• Flow Meters
Based on the application, the market is segmented into the following:
• Oil & Gas Industry
• Water & wastewater Treatment
• Food & Beverages
Based on the control methods, the market is segmented into the following:
Based on geography, the market is segmented into the following:
• North America
• The Asia Pacific
• Latin America
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Key players profiles in the fluid control market report are ABB Ltd., Siemens AG, Mitsubishi, Schneider Electric SA, Bharat heavy Electricals Ltd., Texas Instruments, Alfa Laval Corporate AB, Weatherford International Plc, Valmet, Gemsensors, Hitachi.
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