Global Fluid Handling Services Market
Global Fluid Handling Services Market Size By Type, By Industry, By Geographic Scope And Forecast
According to Verified Market Research, The Global Fluid Handling Services Market was valued at USD 5.75 Billion in 2018 and is projected to reach USD 8.46 Billion by 2026, growing at a CAGR of 5.09% from 2019 to 2026.
The fluid handling systems play a vital role in several end-use industries as they help in the smoother operations at the entire facility with lesser waste and greater longevity of the machineries. Fluid handling system are used to direct, measure and maintain the flow different types of liquids or fluids that flow throughout the facilities. Everything from liquid chemicals to fluid gas can pass through one of these systems. Even though the different components of the systems are constructed taking into consideration durability of the systems, no matter the size and complexity, improper maintenance of the systems and fluids can result into increased downtime and operating costs. In order to ensure the smooth functioning of the liquid flow in various lines, fluid handling services are used by the end-use industries.
The fluid handling systems are growingly being adopted in various end-use industries due to the increasing demand of several types of pumps in oil and gas industry, rising demand for advanced systems in the oil & gas, chemical and wastewater management industries and increasing focus on plant automation. They also aid in preventing high machinery repair costs and production downtime. As the growth of fluid handling services market is directly proportional to the growth of fluid handling systems market, the rising penetration of such systems would require repair and maintenance services during their life cycle, hence boosting the market for fluid handling services globally. Moreover, the growing consumption of natural gas and crude oil is expected to have a significant positive impact on the market.
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