Fluid Conveyance Products Motors Market Outlook 2031
The global fluid conveyance products motors market size was valued at USD 8.84 Billion in 2022 and is projected to reach USD 13.83 Billion by 2031, expanding at a CAGR of 5.1% during the forecast period 2023 - 2031. The growth of the market is attributed to rising demand for systematic transportation and extraction of gas and oil. Fluid conveyance products help in drawing out and transporting gases and liquids. It prevents and safeguards from leakage, putrefaction, and exposure.
These products assist to transfer media from one point to another which includes hydraulics, pneumatics, lubricating oil, compressed air, and coolant. Rising Infrastructures and industries in sectors like construction, aerospace, agriculture, mining, waste water treatment, and automobile have significant impact on fluid conveyance products motors market.
According to World Health Organization (WHO), the Covid-19 pandemic affected the demand and supply of fluid conveyance products motors. Adverse situations like lockdown, supply chain disorders, and oscillation of supply of raw materials forced manufacturers to shut down production leading to decline in market growth.
Fluid Conveyance Products Motors Market Trends, Drivers, Restraints, and Opportunities
- Technological advancements and widespread infrastructure all around the globe ensure optimum growth and are estimated to boost the market during the forecast period.
- Growth in industries increases demand for fluid conveyance products, thereby creating enormous opportunities for market growth.
- Expansion and development in sectors like automobiles, aerospace, and agricultural are projected to drive the market.
- Inflexibility and high costs are anticipated to hamper the fluid conveyance products motors market growth.
- Covid-19 situation had an adverse impact on the market by unfavorable production and supply. This is expected to hinder the market fluid conveyance products motors growth.
- Key players and manufacturers aim to improve the quality of the product with effective resolution. This is projected to create remunerative opportunities during the forecast period.
- A fluid conveyance products motors plays an important role in the improvement and growth of various industries and has immense growth opportunities.
Scope of Fluid Conveyance Products Motors Market Report
The report on the global fluid conveyance products motors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Fluid Conveyance Products Motors Market -Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Category (Tubes/Pipes, High-pressure Ducts, and Low-pressure Ducts) and Applications (Aerospace, Automobile, Agriculture, Construction, Mining, Waste Water Treatment, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Eaton Corporation, Parker Hannifin Corp, Unison, Ideal Plm, Sabo Group, Leading Edge Hydraulics, Metline Industries, GHX Industrial, Pressure Lift Corporation, and Senior PlC.
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Fluid Conveyance Products Motors Market Segment insights
The tubes/pipes segment is estimated to hold a major market share during the forecast period
Based on category, the global fluid conveyance products motors market share is segmented into tubes/pipes, high-pressure ducts, and low-pressure ducts. The tubes/pipes segment accounted for a large market share in 2020 in terms of revenue and is expected to expand at a substantial CAGR during the forecast period. Tubes/pipes are commonly used tools in the market. It is a hollow cylinder used to transfer substances such as liquids and gases.
These tubes are preferred, due to affordable price, availability, common practices, and reliability. High-pressure ducts and low-pressure ducts segments are anticipated to exhibit a high CAGR, owing to investment in infrastructure by key players and manufacturing companies.
The aerospace segment is anticipated to expand at a high CAGR
On the basis of applications, the market is fragmented into aerospace, automobile, agriculture, construction, mining, waste water treatment, and others. The aerospace segment is considered to expand at a substantial CAGR during the forecast period, owing to aircrafts, jets, and others, which possess immense demand worldwide. The construction segment is anticipated to expand at a rapid pace during the forecast period, due to investment of key players in the industry.
The market in North America to expand at a robust CAGR
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America holds the maximum share of the global market in terms of revenue, demand and consumption. Growth of the market is attributed to growing investment in the aerospace and defense industries, which is expected to hold more than 50% share by 2024.
The market in Asia Pacific is anticipated to expand at a rapid rate during the forecast period, due to growing investment in construction and other industries. This is expected to boost the market during the forecast period.
Segments
The global fluid conveyance products motors market has been segmented on the basis of:-
Category
- Tubes/Pipes
- High-pressure Ducts
- Low-pressure Ducts
Applications
- Aerospace
- Construction
- Agriculture
- Mining
- Waste Water Treatment
- Automobile
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Companies
Competitive Landscape
Key players in the global fluid conveyance products market include Eaton Corporation, P, Ideal Plm, Sabo Group, GHX Industrial, arker Hannifin Corp, Leading Edge Hydraulics, Unison, Metline Industries, Pressure Lift Corporation, and Senior PlC.
Major companies are engaged in adopting several market strategies such as mergers & acquisitions, collaborations, partnerships, product launches, R&D activities, and capacity expansion to increase their market share and global presence.
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