The competitive landscape of the global fuel delivery systems market
features high fragmentation and intense competition owing to the
presence of a large number of manufacturers, observes Transparency
Market Research in a recent report. Notable players in the market are
investing on mergers and acquisitions to expand their consumer base
across the globe and gain an increased share in the market. A recent
instance is the July 2015 acquisition of Delta Industrial Valves Inc.
by The Weir Group PLC. Some of the key vendors in the global fuel
delivery systems market are Metso, Honeywell International Inc.,
Cashco Inc., Cameron (Schlumberger Ltd.), and Watlow Electric
Manufacturing Company.
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The market is expected to exhibit a 3.4% CAGR over the period between
2016 and 2024. Expanding at this pace, the market, which valued
US$4,330.7 mn in 2015, is expected to rise to US$5,969.1 mn by 2024.
In terms of the key components of a typical fuel delivery system, the
segment of stop valves presently dominates the global market,
accounting for a share of over 54% in 2015. In terms of geography,
Asia Pacific holds the dominant position, with a 25% share in the
global market in 2015.
Efforts Aimed at Improving Workplace Safety and Reducing Energy
Consumption to Drive Market
The necessity to maintain high level of safety in work environments
across process industries that handle a variety of hazardous
substances such as oil and gas, chemicals, pulp and paper, and
refining is the key driver of the global fuel delivery systems
market. Advanced fuel delivery systems play a central role in the
effective control and monitoring of flow of gases and fluids to
equipment such as industrial ovens, furnaces, and boilers in process
industries. Fuel delivery systems are also used on a large scale in
industries for ensuring the efficient management of fluids as per the
desired parameters. The global market for fuel delivery systems is
also driven by the rising efforts to reduce the total energy consumed
across the industrial sector.
Rising Usage of 3D Simulation Software to Increase Industry-wide
Adoption of Fuel Delivery Systems
One of the key challenges for the global fuel delivery systems market
is the sluggish growth across some of the market’s prominent
end-use industries globally. The overall production in the U.S.
mining industry, for instance, suffered a substantial blow in 2015.
The production of coal declined in the country from a valuation of
1,000,049 Thousand Short Tons in 2014 to 896,977 Thousand Short Tons
in 2015.
Investment in mining and exploration activities also went down by 35%
in 2015 as compared to the previous year in the U.S. Stringent
regulations on mining activities across the U.S. and many other
countries across the globe, owing to their vast negative implications
on the environment, will continue to mar the growth prospects of the
global fuel delivery systems in the next few years.
Nevertheless, the market is expected to gain sizeable traction owing
to the increased usage of simulation software across a number of
process industries. The use of 3D simulation software for testing and
analyzing the performance of hydraulic components such as valves and
pumps under different conditions eliminates the need for designing
multiple test rigs and prototypes. This low-cost alternative to test
rigging and prototyping is expected to gain an increased level of
adoption in the next few years, leading to the development of vast
growth opportunities for the global market.
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This review of the market is based on a recent market research report
published by Transparency Market Research, titled “Fuel Delivery
System Market (by Components: Stop Valves, Flow and Pressure Safety
Switches, Gas Regulator, and Others; by Application: Boilers,
Furnaces, and Kilns and Ovens; by Fuel Type: Oil, Gas, and
Electricity; by 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, and Others) - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 –
2024.”
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