Fuel Delivery
System Market: Snapshot
The global market
for fuel delivery systems is heading towards overcapacity, a trend
that can wreak havoc on the profit margins of large and small
players, lead to an increase in the number of loss-making companies,
and harm the future growth of human resources in the longer run.
Considering the presence of a large number of manufacturers and
suppliers in the market, the supply of fuel delivery systems is
expected to continue to swell in the next few years. Focus of
manufacturers on largescale production to achieve economies of scale
is also expected to add to the ever-rising pile of fuel delivery
systems and components in the global market.
The inevitable
supply-demand gap that will arise owing to the situation is expected
to hamper growth of the market to a vast extent in the coming years.
However, market will be able to gain sustainable growth opportunities
owing to the rise in e-commerce activities, which has enabled
manufacturers to achieve cross-border sales and reach developing
regions that face a scarcity of supply. Transparency Market Research
states that the global fuel delivery systems market will exhibit a
3.4% CAGR from 2016 through 2024. As a result, the market, which had
a valuation of US$4,330.7 mn in 2015, is expected to rise to
US$5,969.1 mn by 2024.
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Stop Valves to
Continue to Remain Dominant Fuel Delivery System Components
Of the chief
components of a typical fuel delivery system, including stop valves,
gas regulators, flow and pressure safety switches, sensors, and
thermocouples, the segment of stop valves dominates, accounting for a
nearly 54% share in the global market in 2015. Although the segment
is expected to lose prominence to components such as flow and
pressure safety switches and sensors in the next few years, it will
continue to dominate the global market, albeit with a lesser share by
2024.
The market for flow
and pressure control systems will be driven by high demand across
process industries, which utilize these systems for the efficient
management of fuel delivery for a variety of industrial applications.
In the past few years, the rising emphasis on automation of
industrial operations and processes has played a vital role in the
development of automated flow control systems.
Emerging
Economies in Asia and Africa to Present Lucrative Growth
Opportunities
Of the key regional
markets for fuel delivery systems, the market in Asia Pacific is
presently the most lucrative one. The region held a nearly 25% of the
total global fuel delivery systems market in 2015. Presence of a
large number of manufacturing units and suppliers and the
availability of raw materials aid the fuel delivery systems market’s
growth in the region. The market for fuel delivery systems in the
region is also driven owing to the vast expansion of energy
industries in emerging economies such as India and China.
Technological advancements in fuel delivery systems and the rising
preference for automated systems in process industries is likely to
benefit the market for fuel delivery systems in Asia Pacific in the
next few years.
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Over the forecasting
horizon, the market for fuel delivery systems in Middle East and
Africa (MEA) is likely to present lucrative growth opportunities. The
Middle East and Africa fuel delivery systems market is projected to
exhibit a 4.7% CAGR from 2016 through 2024. The rapid expansion of
the oil and gas and refining industries in the region will be the key
factors presenting opportunities for manufacturers and suppliers of
fuel delivery systems. Rising investment I n the energy sector in
Africa will also generate lucrative growth opportunities for the fuel
delivery systems market in the next few years.
Some of the key
vendors in the market are Bellofram Group of Companies, Metso,
Honeywell International Inc., JANSEN Combustion and Boiler
Technologies, Watlow Electric Manufacturing Company, Cashco Inc.,
Cameron (Schlumberger Ltd.), ARi Industries Inc., and Flowserve
Corporation, and Emerson Electric Co.
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