The global market for fuel delivery system is expected to be highly fragmented and competitive in nature, owing to the rising number of players operating in it, states a research report by Transparency Market Research. The leading players in the market are focusing on technological advancements and mergers and acquisitions in order to enhance their presence worldwide and attain a dominating position in the next few years. In addition to this, the rising emphasis on development of new products and innovations are anticipated to accelerate the growth of the global fuel delivery system market throughout the forecast period. Some of the leading players operating in the fuel delivery system market across the globe are Honeywell International Inc., Metso, Cashco Inc., Watlow Electric Manufacturing Company, and Cameron (Schlumberger Ltd.). With the rising competition and developments, the market is estimated to witness a substantial growth throughout the forecast period.
According to the research study by Transparency Market Research, in 2015, the global fuel delivery system market was worth US$4,330.7 mn and is predicted to reach a value of US$5,969.1 mn by the end of 2024. The market is anticipated to exhibit a healthy 3.40% CAGR between 2016 and 2024.
Presence of Leading Manufacturers to Bolster Asia Pacific Fuel Delivery System Market
From a regional outlook, Asia Pacific is considered to be one of the most lucrative regions for the global fuel delivery system market across the globe. As per the report, this region is expected to remain on the leading position throughout the forecast period. The easy availability of raw materials and the presence of a large number of manufacturers and suppliers are the key factors that are likely to encourage the growth of the Asia Pacific market in the next few years. In addition to this, the rising contribution from emerging economies and the increasing focus on technological developments are estimated to generate promising growth opportunities for the key players operating in this region. Furthermore, the Middle East and Africa market for fuel delivery system is estimated to experience a strong growth in the next few years.
On the basis of components, the global market for fuel delivery system has been divided into gas regulators, stop valves, flow and pressure safety switches, and others. Among these, the stop valves segment is estimated to lead the global fuel delivery system market throughout the forecast period. On the other hand, the flow and pressure safety switches segment is expected to experience a high level of growth in the coming years and hold a substantial share of the global market. The high growth of this segment can be attributed to the rising demand from diverse process industries across the globe.
Rising Need for Advanced System for Cost-effective Manufacturing to Encourage Growth
The growing need to maintain an enhanced level of safety at workplace is one of the key factors anticipated to encourage the growth of the global fuel delivery system market in the next few years. In addition, the emergence of effective and advanced products and systems are estimated to accelerate the growth of the overall market throughout the forecast period. With the increasing use of fuel in diverse industries, the demand for effective fuel delivery systems is anticipated to rise substantially throughout the forecast period, which is likely to encourage the growth of the market in the near future.
On the flip side, this market is anticipated to witness a downward trend in the coming years, owing to several barriers faced by the leading manufacturers. In addition, the requirement of high investments to develop new fuel delivery systems is likely to hamper the growth of the overall market in the near future. Nonetheless, the increasing emphasis on using simulation software is estimated to offer promising growth prospects for the leading players operating in the market across the globe.
This information is based on the findings of a research report published by Transparency Market Research (TMR), 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 and 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 has been segmented as below:
Global Fuel Delivery System Market by, Components
- Stop Valves
- Flow and Pressure Safety Switches
- Gas Regulator
Global Fuel Delivery System Market by, Application
- Kilns and Ovens
Global Fuel Delivery System Market by, Fuel Type
Global Fuel Delivery System Market by, End-use
- Oil and Gas,
- Mining, Mineral and Metal
- Printing and Publishing
- Specialty Engineering Chemicals
- Food and Beverages
- Alternate Fuel
Global Fuel Delivery System Market by, Geography
- 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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