The Global Microfluidic Components Market, 2019-2024: Analyzed by Product & Industry - ResearchAndMarkets.com
The "Microfluidic
Components Market by Product (Valve, Solenoid Valve, Check Valve,
Nozzle, Tubing, Micropump, Microneedle, Shuttle Valve), Industry
(Automotive, Aerospace & Defense, Healthcare, Consumer Electronics, Oil
& Gas) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's
offering.
The microfluidic components market is projected to reach USD 53.75
billion by 2024 from USD 21.60 billion in 2019, at a CAGR of 20% during
the forecast period.
The growing demand for smart and intelligent flowmeters, sensors, and
advanced pumps in high-end industries; technological advancements;
increasing focus on data precision and accuracy; and the growing demand
for miniature portable devices are the primary growth factors for this
market. The need for the constant replacement of valves, rising number
of refineries and petrochemical plants, and the increasing application
areas of the microfluidics technology are expected to offer significant
growth opportunities for players in this market. However,
standardization and commercialization of components are the major market
challenges.
The prominent players in the global microfluidic components market
include Parker Hannifin Corporation (US), Camozzi Automation Spa Societ
Unipersonale (Italy), Staiger GmbH & Co. KG (Germany), Vesta Automation
Srl (Italy), Metal Work S.p.A. (Italy), Fortive Corporation (US), Aignep
s.p.a. (Italy), FIM Valvole Srl (Italy), International Polymer Solutions
(US), The Lee Company (US), Humphrey Products Corporation (US), and
Dolomite Microfluidics (UK).
The valves segment is expected to grow at the highest rate
during the forecast period
On the basis of the product, the microfluidic components market is
segmented into valves, micropumps, nozzles, pressure controllers,
microneedles, connectors, tubing, and other components. The valves
segment is projected to witness the highest growth in the microfluidic
components market during the forecast period. Growth in this segment is
largely driven by the diverse functionality of valves in various
industrial sectors and the increasing automation across all industries.
The oil & gas industry is expected to account for the
largest market share in 2019
The oil & gas industry segment is expected to hold the largest share of
the microfluidic components market. The growing demand for maintenance
of refineries and the increasing number of oil exploration projects
across the world are factors contributing to the larger share of this
segment.
The Asia Pacific region is likely to be the fastest-growing
market for players operating in the microfluidic components market
Although North America is expected to account for the largest share of
the global microfluidic components market in 2018, the Asia Pacific is
expected to witness the highest CAGR during the forecast period.
Increasing industrialization, investments in water infrastructure,
growth in various industries (such as chemicals, power & energy, and
aerospace), the increasing number of infrastructural development
projects (especially in China and India), rising standard of living, and
growing urbanization are factors driving the growth of this regional
segment.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Microfluidic Components: Market Overview
4.2 Microfluidic Components Market: Geographic Growth Opportunities
4.3 Regional Mix: Microfluidic Components Market
4.4 Microfluidic Components Market: Developed vs Developing Markets,
2019 vs 2024
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Smart and Intelligent Flowmeters, Sensors,
and Advanced Pumps in High-End Industries
5.2.1.2 Technological Advancements
5.2.1.3 Increasing Focus on Data Precision and Accuracy
5.2.1.4 Growing Demand for Miniature Portable Devices
5.2.2 Restraints
5.2.2.1 Technical Problems Associated with Solenoid Valves
5.2.2.2 Lack of Standardized Certifications and Government Policies
5.2.2.3 Adoption of Smaller Engines By OEMs in the Automotive Industry
5.2.3 Opportunities
5.2.3.1 Need for Constant Replacement of Valves
5.2.3.2 Rising Number of Refineries and Petrochemical Plants
5.2.3.3 Increasing Application Areas of Microfluidics Technology
5.2.4 Challenges
5.2.4.1 Standardization and Commercialization of Components
6 Industry Trends
6.1 Introduction
6.2 Process Automation in End-Use Industries
6.3 Emergence of Piezo-Actuated Technology
6.4 Increasing Popularity of Smart Valves
7 Microfluidic Components Market, By Product
7.1 Introduction
7.2 Valves
7.2.1 Solenoid Valves
7.2.1.1 Shift Towards Renewable Sources for Power Generation and
Increased Application Areas in the Automotive Industry
7.2.2 Flow Control Valves
7.2.2.1 Demand for Flow Control Valves is High in the Oil & Gas and
Sub-Sea Applications
7.2.3 Check Valves
7.2.3.1 Broad Application Areas of Check Valves to Drive Market Growth
7.2.4 Shuttle Valves
7.2.4.1 Growing Oil & Gas Industry is Likely to Propel Market Growth
7.2.5 Pressure Relief Valves
7.2.5.1 Rising Demand for Smart Valves and Growing Digitalization have
Supported Market Demand
7.2.6 Proportional Valves
7.2.6.1 Low Weight and Energy Consumption are Some Advantages of
Proportional Valves
7.2.7 Other Valves
7.3 Micropumps
7.3.1 Growing Demand in the Healthcare Vertical and Advantages Over
Traditional Pumps Will Drive the Market
7.4 Nozzles
7.4.1 Increasing Automobile Industry Growth and Need for Better Fuel
Efficiency are Boosting the Nozzles Market
7.5 Pressure Controllers
7.5.1 High Accuracy and Control Stability Make Pressure Controllers
Suitable References for Production Lines and Labs
7.6 Microneedles
7.6.1 Growing Demand for Safer Alternative to Conventional Hypodermic
Injections has Driven Market Growth
7.7 Connectors
7.7.1 Industrial and Agricultural Sectors to Show the Highest Demand for
Connectors
7.8 Tubing
7.8.1 High Demand in End-User Industries and Will Drive Market Growth
7.9 Other Components
8 Microfluidic Components Market, By Industry
8.1 Introduction
8.2 Oil & Gas Industry
8.2.1 Increasing Demand for the Maintenance of Refineries is Expected to
Support Market Growth of Smart Valves
8.3 Healthcare Industry
8.3.1 The Healthcare Industry is Estimated to Grow at the Highest CAGR
of 24.9% During the Forecast Period
8.4 Aerospace & Defense Industry
8.4.1 The Increasing Requirement for Commercial, Passenger, and Military
Aircrafts is Expected to Drive Market Growth
8.5 Consumer Electronics Industry
8.5.1 Growing Trends Towards Miniaturization and High Demand for
Consumer Electronics is Expected to Boost Market Growth
8.6 Automotive Industry
8.6.1 Growing Demand for Electric Vehicles to Drive Market Growth
8.7 Other Industries
9 Microfluidic Components Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Upgrading of Existing Facilities and High Investments in
Industry Verticals to Support Market Growth
9.2.2 Canada
9.2.2.1 Growing Healthcare and Oil & Gas Industries in the Country to
Drive Market Growth
9.3 Asia Pacific
9.3.1 China
9.3.1.1 Growing Industrialization and Increasing Demand for
Infrastructural Development to Support Market Growth
9.3.2 Japan
9.3.2.1 Growth of the Manufacturing Sector and the Increasing Demand for
Automobiles to Drive Market Growth
9.3.3 India
9.3.3.1 Prominent Growth in Water Treatment Plants to Drive the Demand
for Microfluidic Components
9.3.4 Rest of Asia Pacific
9.4 Europe
9.4.1 Germany
9.4.1.1 Advanced Manufacturing Capabilities to Support Market Growth
9.4.2 France
9.4.2.1 Government Initiatives to Promote the Adoption of Fluidic
Components to Drive Market Growth in France
9.4.3 UK
9.4.3.1 Growing Adoption of Automation Technologies to Drive the Demand
for Valves and Actuators
9.4.4 Italy
9.4.4.1 High Demand for Valves From the Wastewater Treatment Industry to
Propel the Growth of the Microfluidic Components Market in Italy
9.4.5 Spain
9.4.5.1 Rising Demand From the Oil & Gas Sector to Boost Market Growth
9.4.6 Rest of Europe
9.5 Latin America
9.5.1 High Growth Opportunities in the Water Treatment Sector to Drive
Market Growth
9.6 Middle East & Africa
9.6.1 Growing Oil & Gas Industry to Offer Growth Opportunities for
Players in the Microfluidic Components Market
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking
10.2.1 Microfluidic Components Market, By Key Player, 2018
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Competitive Situation and Trends
10.4.1 Product Launches
10.4.2 Expansions
10.4.3 Acquisitions
11 Company Profiles
11.1 Parker Hannifin Corporation
11.2 Vesta Automation SRL
11.3 Staiger GmbH & Co. KG
11.4 Metal Work S.P.A.
11.5 Camozzi Automation Spa Societ Unipersonale
11.6 Fortive Corporation
11.7 Aignep S.P.A.
11.8 International Polymer Solutions
11.9 FIM Valvole SRL
11.10 Humphrey Products Corporation
11.11 The Lee Company
11.12 Dolomite Microfluidics
11.13 Cellix Ltd.
11.14 Elveflow
11.15 Christian Burkert GmbH & Co. KG
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