According to Stratistics MRC, the “Global Process Equipment Market” is accounted for $59.72 billion in 2018 and is expected to reach $155.27 billion by 2027 growing at a CAGR of 11.2%.
Process equipment can be defined as equipment used in processing industries such as cement, sugar, pharmaceutical, textile, steel, food, chemicals, petro, refinery, paper, power, etc. These are employed during various processes passed out in industries such as water treatment, steam power generation, pipelines, saltwater disposal, etc. A few examples of such pieces of equipment are heat exchangers, storage tanks, valves, pressure-relieving devices, boilers, piping, furnaces/heaters, and pipelines. Each of this equipment is important due to its indispensable usage in the working of a process. The equipment can be static or moving. The pieces of equipment are manufactured or designed by considering factors such as improve quality and reliability, make processes more energy-efficient, reduce emissions and other environmental impacts, enhance safety, and make plants and processes more flexible.
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The rise of India and China as emerging economies and government strategic plans to expand the industrial sector and financial support to upgrade with new technology is favoring the growth of the market. In addition, the rapid dispersal manufacturing sector and globalization are offering vast new opportunities to the equipment manufacturer. Industries are not only expanding but also updating new technologies, also automation adoption across all industries and evolving global chains are fuelling the growth in the future. A requirement such as the rapid speed of operation, high accuracy of positioning, user-friendliness, high structural rigidity, the flexibility of operation, has always remained the main priority for the equipment design, which in turn has resulted in extensive research.
Based on the end-user, the food & beverage segment is anticipated to have lucrative growth during the forecast period, owing to stringent regulations and guidelines governing the food and beverage industry, growing consumer demand, rising demand for healthy food and rising need for productivity in the food & beverages. Food and beverage processing equipment uses physical and chemical means to change raw ingredients into prepared food and is used in the production of dairy, bakery, poultry, seafood, beverage and confectionery products. In addition to this, they are employed to monitor processes in packaging and labeling applications and quality management. Moreover, processing equipment is also being used to mechanize various processes in the food and beverage industry, such as heating, blanching, cooking, and pasteurization, to reduce the overall production time and augment the efficiency.
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By geography, North America is expected to have considerable growth during the forecast period, owing to the growing number of food and beverages plant across the region, investment in research and development activities and the change in consumer predilection for having healthy food especially in the U.S. is adding growth to the food processing equipment and technology. Cosmopolitan corporations in the US played a main role in the development of the process equipment market for the seed industry, with continuously evolving technological innovations in agricultural and food systems.
Some of the key players in the Process Equipment market include Alfa Laval AB, Bühler AG, dor Welding Ltd, Freeco International, Beepex Corporation Organization, ANSYS Inc, Isgec Heavy Engineering Ltd, Power Zone Equipment Inc, Marel HF, and Bucher Industries AG.
Alfa Laval AB – July 2019- Alfa Laval has signed an agreement for PureBallast systems to an alliance of Turkish ship owners. The orders will be booked in the Marine Separation & Heat Transfer Equipment unit of the Marine Division. Alfa Laval PureBallast was the first chemical-free solution for ballast water treatment certified by the International Maritime Organization (IMO) and one of the first systems to receive the US Coast Guard type approval for usage in all water salinities, including freshwater. A vital component of PureBallast is the enhanced UV reactor, which was developed jointly by Alfa Laval and Wallenius Water based on Wallenius Water technology. The systems will go to a variety of small vessels, and consequently, the systems will be of very small sizes.
Bucher Industries AG – Dec 2012- Bucher Unipektin has signed an agreement with the Filtrox Group, to acquire Filtrox Engineering AG. Filtrox Engineering is the global market and technology leader in the area of beer filtration, as well as a leading provider in certain areas of microfiltration for the food and beverage industry. The acquisition strengthens the beverage technology business of Bucher Unipektin and gives the company access to the worldwide beer market, which is continuing to grow, particularly in the emergent economies of Asia, Latin America, and Africa. Bucher Unipektin’s expertise in fruit juice filtration and Filtrox Engineering’s know-how in the area of beer filtration is a good match. The core competence of the acquired engineering business is in developing and manufacturing fully automatic filtration solutions tailored to individual customers’ production processes.
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