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Hygienic Pumps And Valves Market 2024 - By Share, Growth, Demand, Trends, Opportunities And Outlook 2033
Hygienic Pumps And Valves Market
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According to The Business Research Company's, The hygienic pumps and valves market size has grown strongly in recent years. It will grow from $2.22 billion in 2023 to $2.36 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to stringent regulatory standards, rising demand in food and beverage industry, advancements in materials and manufacturing, quality and safety compliance, focus on cross-contamination prevention, globalization of supply chains.
The hygienic pumps and valves market size is expected to see strong growth in the next few years. It will grow to $3.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to biopharmaceutical industry growth, increasing emphasis on sustainability, rise in cosmetic and personal care production, demand in water and wastewater treatment, focus on single-use systems, focus on clean energy production. Major trends in the forecast period include automation and industry 4.0 integration, focus on sustainability, customization and modular solutions, expansion in biotechnology and life sciences, focus on preventive maintenance, rise in clean-in-place (cip) systems.
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Market Drivers and Trends:
The increased consumption in food and beverage industry is anticipated to propel the growth of the hygienic pumps and valves market going forward. The food and beverage industry refers to a broad sector that includes a number of operations related to the production, processing, packaging, distribution, and retailing of food and drink items. Hygienic pumps and valves are used to transfer of liquids, semi-liquids, and viscous products within the food and beverage production process. For instance, in June 2022, according to USDA Rural Development 2021 Highlights, a US-based agency under the United States Department of Agriculture, there were $467.20 billion food and beverage (F&B) sales in 2021. Additionally, for instance, in December 2022, according to a report published by Kirin Holdings Company Limited, a Japan-based beverage company, about 185.60 million kiloliters of beer were consumed worldwide in 2021, a rise of 4.0% from the previous year. Therefore, the increased consumption in food and beverage industry is driving the growth of the hygienic pumps and valves market.
Major companies operating in the hygienic pumps and valves market are innovating new products, such as intuitive valves, to gain a competitive edge in the market. Intuitive valves in hygienic pumps and valves refer to precision-engineered components designed for sanitary applications, featuring user-friendly, easily adjustable controls that enhance operational efficiency and hygiene in fluid processing systems. For instance, in March 2023, Alfa Laval AB, a Sweden-based manufacturer of components and systems of heat transfer, separation, and fluid handling launched ThinkTop V20. ThinkTop V20 is a valve indication unit that provides intuitive sensing of the hygienic valve status and position in real-time. ThinkTop V20 provides 360 degrees' light-emitting diode (LED) visual status indication from all directions and provides convenient control-room monitoring of the real-time status. It is designed to be intuitive, and sensors automatically recognize the valve type and size, calibrate, and record the valve opening and closing. It is used in various applications such as dairy, food, beverage, home and personal care, biotechnology, pharmaceutical.
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Major Key Players of the Market:
Alfa Laval AB, Lone Star Fund, Group Aktiengesellschaft, ITT Inc., Evoguard GmbH, KSB SE & Co. KGaA, Emerson Electric Co., Spirax-Sarco Engineering plc, Flowserve Corporation, Christian Bürkert GmbH & Co. KG, Gebr. Müller Apparatebau GmbH & Co, Samson AG, Fristam Pumpen KG, Dover Corporation, Verder International B.V., nnovation Diversity and Excellence Corporation, Adamant Valves, Bardiani Valvole, Gebr Rieger GMBH + CO KG, Curtiss-Wright Corporation, Ampco Pumps Company, DEFINOX, LEWA PUMPS INDIA PRIVATE LIMITED, Nocado GmbH, AxFlow Holding AB, Waukesha Cherry-Burrell, Adjusted Present Value, Bornemann Maschinenbau GmbH, Tapflo Group, Grundfos Holding A/S
Hygienic Pumps And Valves Market 2024 Key Insights:
• The hygienic pumps and valves market size is expected to see strong growth in the next few years. It will grow to $3.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Dairy Industry Expansion Fuels Hygienic Pumps And Valves Market Growth
• Intuitive Products Revolutionizes Hygienic Valve Monitoring And Control
• North America was the largest region in the hygienic pumps and valves market in 2023
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