Global Microfluidic Components Market Is Anticipated To Reach Around USD 13.15 Billion by 2032

Zion Market Research has published a new report titled “Microfluidic Components Market By Product (Valve, Tubing, Nozzle, Microneedles, Pressure Controllers, Micropumps, Connectors, and Others) and By Industrial Application (Healthcare, Oil & Gas, Automotive, Consumer Electronics, Aerospace and Defense, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032”. According to the report, the global microfluidic components market was approximately USD 4.85 Billion in 2023 and is expected to generate around USD 13.15 Billion by 2032, at a CAGR of around 22.2% between 2024 and 2032.

The growing demand for smart and reliable stream meters, sensors, and advanced pumps, technological developments, rising reliance on data accuracy, and increasing need for compact mini appliances are the primary factors driving the microfluidic components market. The need for a consistent substitution of valves, an increasing number of refineries and petrochemical plants, and escalating implementation areas of microfluidics technology will contribute to the significant development in this sector.

Browse the full “Microfluidic Components Market By Product (Valve, Tubing, Nozzle, Microneedles, Pressure Controllers, Micropumps, Connectors, and Others) and By Industrial Application (Healthcare, Oil & Gas, Automotive, Consumer Electronics, Aerospace and Defense, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032” Report at https://www.zionmarketresearch.com/report/microfluidic-components-market

The microfluidic components market is anticipated to grow, owing to the increasing refineries and petrochemical plants globally. Also, the growing application sectors of microfluidics technology are anticipated to offer substantial growth prospects to the market players. Initiatives taken by various government bodies to assimilate and maximize the use of microfluidic components in the legislation, favorable reimbursements policies, innovative mechanisms, and innovation in the healthcare domain for microfluidic components will also drive the market growth tremendously in the years ahead. However, the high cost of technologically-advanced valves and tubing’s may limit this market.

The microfluidic components market is fragmented based on product and industrial applications. Based on the product, the market is segmented into valve, tubing, nozzle, microneedles, pressure controllers, micropumps, connectors, and others. Valves are further sub-segmented into shuttle valves, pressure relief valves, solenoid valves, flow control valves, proportional valves, check valves, and others. Valves are anticipated to be the revenue generator in the microfluidic components market in the future, due to the varied design of valves in multiple manufacturing sectors and growing automation across various industries. During the forecast period, the solenoid valves are anticipated to register the largest CAGR, owing to their increasing implementation in the automotive industry and rising regulatory policies related to end-use sectors across developing countries.

By industrial application, the market is segmented into healthcare, oil and gas, automotive, consumer electronics, aerospace and defense, and others. The oil and gas sector is anticipated to hold the largest share of the microfluidic components market in the future, owing to the increasing demand for refinery servicing and rising need for oil exploration activities worldwide.

The European microfluidic components market will register the highest CAGR over the forecast timeline, owing to the growing power, fuel, and chemical industries, rising demand for accurate and precise data, developed infrastructure, growing use of automation, favorable compensation policies, increasing development investments, accelerating awareness regarding portable and compact devices. Germany, France, and the U.K. are major country-level markets in Europe. Latin America is estimated to witness moderate growth over the forecast time period, owing to the commercialization of microfluidic components as it affects the region’s technological development. Brazil contributed the largest revenue share in 2018 to the in Latin American microfluidic components market, due to the increasing implementation in the automotive industry, rising shift to renewable sources for power generation, escalating investments made in multiple sectors, and accelerating government regulation on end-users. The Middle Eastern and African microfluidic components market will grow slowly in the upcoming years.

Some key players in the microfluidic components market include Vesta Automation, Parker Hannifin, Dolomite Microfluidics, International Polymer Solutions, Camozzi Automation, Staiger, Aignep, Fortive Corporation, Humphrey Products, FIM Valvole, Metal Work, and The Lee Company.

This report segments the global microfluidic components market into:

Global Microfluidic Components Market: By Product

• Valve
  • Shuttle Valves
  • Pressure Relief Valves
  • Solenoid Valves
  • Flow Control Valves
  • Proportional Valves
  • Check Valves
  • Others
• Tubing
• Nozzle
• Micro Needles
• Pressure Controllers
• Micro Pumps
• Connectors
• Others

Global Microfluidic Components Market: By Industrial Application

• Healthcare
• Automotive
• Consumer Electronics
• Aerospace and Defense
• Oil and Gas
• Others

Global Microfluidic Components Market: By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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