With 48% Revenue Share, Dominance of North America and Europe Remains Unchallenged in Gas and Liquid Flow Management Systems Market
United States, Rockville MD, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global gas and liquid flow management systems market size is estimated to be valued at US$ 18.58 billion in 2022.
Furthermore, with rising adoption across industries such as oil & gas and chemical, total sales of gas and liquid flow management systems are slated to grow at 3.9% CAGR between 2022 and 2032, surpassing US$ 27.25 billion by 2032.
Gas and liquid flow management systems are equipment that help industries regulate, manage and control various operations more efficiently. These systems enable users to measure and adjust flow rates of gas and liquids.
Thus, rising need for controlling and regulating flow rate of fluids across various industries will continue to push the demand for gas and liquid flow management systems during the forecast period.
Similarly, implementation of stringent safety laws and regulations to ensure worker safety is expected to foster sales of gas and liquid flow management systems during the assessment period.
Today, several leading industries are deploying gas and liquid flow management systems to keep a check on the flow of gases and liquids that could potentially be harmful if not monitored with care.
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Furthermore, rising penetration of automation along with development of smart flow measurement devices is expected to create lucrative opportunities for gas and liquid flow management systems manufacturers during the next ten years.
Regionally, North America and Europe will continue to dominate the global gas and liquid flow managements systems market, collectively accounting for over 48% share in 2022. Growth in these markets is driven by rapid expansion of industries like chemical and oil & gas, presence of stringent safety regulations and availability of technologically advanced products.
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.
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.
High costs associated with gas and liquid flow management systems might limit market growth during the forecast period.
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Leading gas and liquid flow management systems manufacturers are continuously expanding their product portfolios by introducing new products. Besides this, they are establishing partnerships and joint ventures to increase their revenue share.
In September 2020, Emerson launched a new Micro Motion Coriolis flow meter designed for high-pressure hydrogen dispensing and chemical injection applications.
In May 2019, Azbil Corporation launched an enhanced Thermal Micro Flow Meter model F7M.
Key Companies Profiled by Fact.MR
JSG Industrial Systems Pty Ltd.
More Valuable Insights on Gas and Liquid Flow Management Systems Market
In the latest study, Fact.MR offers a 360-degree view of the global gas and liquid flow management systems market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the gas and liquid flow management systems market through detailed segmentation as follows:
Heavy Goods (Metal & Mining)
Key Questions Covered in the Gas and Liquid Flow Management Systems Market Report
What will be the demand outlook of the gas and liquid flow management systems market in 2022?
What is the projected growth rate of the global gas and liquid flow management systems market during 2022-2032?
Which are the key drivers bolstering growth in the gas and liquid flow management systems market?
Which factors are hindering the growth in the gas and liquid flow management systems market?
Which region is expected to exhibit the fastest growth in the global gas and liquid flow management systems market during 2022-2032?
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