Global Process Equipment Market Size By Type (Pump, Filters, Valves), By Industry (Food & Beverage, Chemical, Pharmaceutical), By Geographic Scope And Forecast
Report ID: 25716|No. of Pages: 202
Global Process Equipment Market Size By Type (Pump, Filters, Valves), By Industry (Food & Beverage, Chemical, Pharmaceutical), By Geographic Scope And Forecast
Process Equipment Market Size And Forecast
Process Equipment Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028.
Increasing industrialization and globalization, growing advanced technologies, and rising the adoption of automation across all industries and growing are the factors driving the Process Equipment Market. The Global Process Equipment Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Process Equipment Market Definition
Process equipment is used in processing industries like cement, sugar, pharmaceutical, textile, steel, food, chemicals, petro, refinery, paper, and power. These are employed in many processes in industries like water treatment, steam power generation, pipelines, and saltwater disposal. Examples of such equipment are heat exchangers, storage tanks, valves, pressure-relieving devices, boilers, piping, furnaces/heaters, and pipelines. Each piece of equipment is essential because of its required use in working a process. It can be static or moving.
The equipment parts are manufactured or prepared by considering factors like improving quality and reliability, making operations more energy-efficient, reducing emissions and other environmental impacts, improving safety, sand making plants and processes more accessible. Whereas the pumps are widely used in many industries to effectively move different types of fluids like water, chemicals, petroleum, wastewater, oil, sludge, slurry, or gas. The kinds of pumps are Centrifugal Pumps and Positive Displacement Pumps. Pumps are essential pieces of equipment used in industries, and the right pump for your application needs a detailed knowledge of each pump’s features to suit the conditions of the process. For example, positive displacement pumps are the best pumps for high dense fluids.
Also, in-depth knowledge of pump parts would be beneficial in choosing a pump that would be more reliable, efficient, and durable. Industries use filters for clearing undesirable substances from the main product during a process. Various kinds of filters are available in the market as per the requirement of the process, like an air filter, hydraulic filter, panel filter, bag filters, screen filters, sand filter, or gas filter. They perform the primary function of filtering or removing dust, purifying oil and fuel, clearing debris, releasing contaminants from a gas stream. Selecting the right kind of process equipment for your operation is essential to preserving the efficiency and safety of your plant. It helps fine quality product output and supports the operators with smooth and hassle-free functioning.
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Global Process Equipment Market Overview
The primary factor driving the market growth is increasing industrialization and globalization across the globe and growing markets of major countries like India and China. The increase in government initiatives and plans for expanding the industrial sector and financial help in upgrading the advanced technology are driving the market growth. The increase in the adoption of wireless technologies and current technological developments will increase the market growth.
The increasing demand for green products and energy-efficient solutions and inventions in sensor, communication, analytic, and touch screen technologies are driving the market growth. The expansion of wireless technologies and the innovation of new products strengthen the demand for the Process Equipment Market. Increasing manufacturing capabilities include increased demand in many industries like food and biopharmaceutical industries. High implementation and maintenance costs, increased initial investments, and improved dependency on the real estate industry cycle are the factors restraining market growth.
The process equipment manufacturers benefit many sectors, like mining, chemicals, pharmaceuticals, food and beverage, and power, metals, oil, and gas extraction industries. Fundamental challenges encountered by the Process Equipment Market contain a lack of open standards, unfavorable weather conditions, little functionality, and fusing disparate systems. The rapid growth of the manufacturing sector and globalization offer extensive new opportunities to the equipment manufacturer.
Global Process Equipment Market Segmentation Analysis
The Global Process Equipment Market is segmented on the basis of Type, Industry, And Geography.
Process Equipment Market, By Type
• Pump
• Filters
• Valves
• Vessels and Tanks
• Heat Exchangers
• Pipelines
• Other
Based on Type, The market is segmented into Pump, Filters, Valves, Vessels and Tanks, Heat Exchangers, Pipelines, and Other. The Pump segment holds a large number of shares in the market because it is widely used in many industries to effectively move different types of fluids like water, chemicals, petroleum, wastewater, oil, sludge, slurry, or gas is the factor boosting the market growth of the Process Equipment Market.
Process Equipment Market, By Industry
• Food & Beverage
• Chemical
• Pharmaceutical
• Textile
• Metal
• Power
• Refinery
• Other
Based on Industry, The market is segmented into Food & Beverage, Chemical, Pharmaceutical, Textile, Metal, Power, Refinery, and Other. The Food & Beverage segment holds a large number of shares in the market because It is used in processing raw food materials into consumable food products. The process equipment is used in many applications like bakery, meat and poultry, dairy, and other sectors choose for custom food processing machines for better conditioning food products, which boosts the market growth of the Process Equipment Market.
Process Equipment Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
On the basis of Geography, The Global Process Equipment Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific region holds a large number of shares in the market because of the increase in adoption of advanced technology, increasing government initiatives, and rising demand for the product in the region are the factors boosting the market growth of the Process Equipment Market.
Key Players
The “Global Process Equipment Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Freeco International, Beepex Corporation Organization, ANSYS, Inc., Ador Welding Ltd., Isgec Heavy Engineering Ltd., Power Zone Equipment, Inc., Bühler AG, Marel HF, Bucher Industries AG, Alfa Laval AB.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
• On April 2021, ISGEC Heavy Eng. partnered with a US-based firm for Dry Sorbent Injection (DSI) technology. ISGEC Heavy Engineering is a diversified heavy engineering company employed in manufacturing and project businesses with an expansive global presence.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2017-2028 |
| BASE YEAR | 2020 |
| FORECAST PERIOD | 2021-2028 |
| HISTORICAL PERIOD | 2017-2019 |
| KEY COMPANIES PROFILED | Freeco International, Beepex Corporation Organization, ANSYS, Inc., Ador Welding Ltd., Isgec Heavy Engineering Ltd., Power Zone Equipment, Inc., Bühler AG. |
| SEGMENTS COVERED | • By Type |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope |
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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Frequently Asked Questions
Report Research Methodology
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This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
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Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
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For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
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Econometrics and data visualization model
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The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
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We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
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The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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