The presence of a large number of manufacturers and suppliers features a high degree of fragmentation and intense competition in the global fuel delivery system market, according to a recent market study by Transparency Market Research (TMR). Key players in the market are engaged in mergers and acquisitions to strengthen their business competency and for expanding their geographical presence. A case in point is the acquisition of Delta Industrial Valves by The Weir Group PLC in July 2015. Some other key players in the global fuel delivery system market are Honeywell International Inc., Watlow Electric Manufacturing Company, Cameron (Schlumberger Ltd.), Metso, and Cashco Inc.
The global fuel delivery system market is expected to display a CAGR of 3.4% between 2016 and 2024. If the figure holds true, the valuation of the market is expected to increase from US$4,330.7 mn to US$5,969.1 mn between 2015 and 2024.
High Volume Oil and Gas Refining Pursuits to Lead Growth of the Middle East and Africa Fuel Delivery System Market
Among the major components of fuel delivery systems, which includes stop valves, flow and pressure safety switches, gas regulators, and sensors and thermocouples, stop valves segment held the dominant share of nearly 54% in the global market in 2015. While other components such as flow and pressure safety switches are expected to gain prominence, stop valves is expected to continue dominating the fuel delivery systems market albeit with a reduced market share by 2024. Flow and pressure safety switches are used across process industries for the efficient fuel delivery management.
Asia Pacific leads among other regional markets for fuel delivery systems. The region held a share of almost 25% in the global fuel delivery system market in 2015. The large number of manufacturing units in the region are process-driven for optimum efficiency and maximum output. The increasing adoption of automated solutions in process industries will further benefit the fuel delivery system market in this region.
The regional market of Middle East and Africa for fuel delivery systems is expected to display substantial growth rate over the forecast horizon, says a TMR analyst. The region being a hub of oil and gas refining industries presents opportunities for manufacturers and suppliers of fuel delivery systems. In Africa, increasing investments for higher efficiency of energy production processes will benefit the growth of fuel delivery system market in the coming years.
Rising Focus on Workplace Safety Benefits Market
The need for high level of workplace safety in process industries that use hazardous substances such as oil, gas, and chemicals is one of the primary factors driving the fuel delivery system market. In process industries, the use of fuel delivery systems is key to control the flow of gases and fluids to a range of equipment such as furnaces, industrial ovens, and boilers and for their effective monitoring as well.
In addition, the need for efficient management of fluids to keep up with safety parameters of industrial processes is also driving this market. Rising efforts to curb energy consumption across the industrial sector is also augmenting the demand for fuel delivery systems.
The sluggish growth of some of the prominent end-use industries of fuel delivery systems is one of the key factors challenging the market’s growth. For instance, in the U.S., decline in coal production between 2014 and 2015 indirectly hit the fuel delivery system market.
The review presented in based on the findings of a Transparency Market Research report, titled “Fuel Delivery System Market (Components - Stop Valves, Flow and Pressure Safety Switches, Gas Regulator; Application - Boilers, Furnaces, and Kilns and Ovens; Fuel Type - Oil, Gas, Electricity; End-use: Oil and Gas, Power, Mining, Mineral & Metal, Chemicals, Refining, Water, Printing and Publishing, Specialty Engineering Chemicals, Pharmaceuticals, Food and Beverages, Glass, Ceramics, Alternate Fuel, Automotive, Building ) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The global fuel delivery system market is segmented as follows:
- Stop Valves
- Flow and Pressure Safety Switches
- Gas Regulator
- Kilns and Ovens
By Fuel Type
- Oil and Gas,
- Mining, Mineral and Metal
- Printing and Publishing
- Specialty Engineering Chemicals
- Food and Beverages
- Alternate Fuel
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- The UAE
- Saudi Arabia
- Rest of MEA
- South America
- Rest of South America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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