Global Fluid Conveyance Systems Market is valued approximately at USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Fluid Conveyance Systems provide smooth and free flow of fluid. It also enables the contamination free flow of the fluid. The fluid comprises of Ceramic, Fiberglass, Metals, Concrete, Plastic, etc. The Fluid Conveyance Systems market is expanding because of factors such as growing food and beverage industry and growing demand from end-user industries.
According to americanbakers.org in 2020, the sale of bakery products has increased by 62.3%. It also states that sales of cookies and crackers have increased by 44.3%. According to Good Food Institute in 2020, investment in food and beverages industries is increasing rapidly. With the increasing public spending , the food & beverages companies has invested USD 590 million in 2020 which is increased by double the rate from the previous year. Whereas, rising investment across Oil and chemical industry and growing R&D activities by market players creates lucrative opportunities for the market expansion. However, threat of cost-effective alternative hampers the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Fluid Conveyance Systems Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominates the space in terms of revenue, owing to the increasing sales of consumer electronics and rising demand for high-quality digital advertisement. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as increasing advertising expenditure, growing public and private infrastructure, and increasing demand by retail sectors, etc in the forecast period.
Major market players included in this report are:
United Fiberglass of America, Inc.
Cooper Fluids Systems
Leading Edge Hydraulics
Purvis Industries, Ltd.
Royal Industries, Inc.
Gulf Controls Company