Process Equipment Market

Process Equipment Market Analysis

The Process Equipment Market size is estimated at USD 99.75 billion in 2025, and is expected to reach USD 124.78 billion by 2030, at a CAGR of 4.58% during the forecast period (2025-2030).

Industrial processing equipment includes a wide range of products and spare parts that are destined for critical requirements within different downstream manufacturing sectors. Such process equipment plays a significant role in many reactions or operations that cannot be done under normal environmental conditions related to temperature, pressure, or safety purposes.

• Increasing globalization and industrialization, surging advanced technologies, and adoption of automation across all industries are driving the Process Equipment Market. Other prominent factors driving the market include the rising demand for high-quality products and reduced project execution timelines. Growing technological advancement, coupled with a sustained surge in the development of manufacturing facilities, is expected to impact the market growth rate during the forecast period.
• Rapid industrialization and the increasing requirement for wastewater treatment from the refining and pharmaceutical industries are among the key factors driving the market's growth. Also, the rising demand for potable water across the world is having a positive impact on the demand for process equipment.
• Moreover, the rising scope of the metal and mining industry, owing to the rising demand for clean energy technologies critical in the global transition to net zero, is expected to pose noteworthy demand growth for the process equipment market. According to the International Energy Agency, the world is expected to ask for six times as many of those minerals by 2040 to achieve net zero by mid-century.
• Some minerals expected to need even greater increases in production include graphite, cobalt, nickel, and copper. For instance, demand for lithium for electric vehicles and other batteries is projected to grow more than 40-fold by 2040. Thus, exploring and developing sites for these mineral groups will likely pose a significant opportunity for the process equipment market.
• However, a notable impact of COVID-19 was observed on the global industrial manufacturing segment as the widespread lockdown across various parts disrupted the supply chain of multiple industries. Although the food and beverage, pharmaceutical, and power generation industry were considered essential, supply chain disruptions, fluctuating demand conditions, and uncertain market conditions significantly impacted the operational capabilities of various end-user industries, especially during the initial phase.

Process Equipment Market Trends

Food and Beverage Processing Segment Registering a Significant CAGR

• Food & Beverage processing and handling, which involves three core subsectors, including processing, packaging, and commercial service equipment, is one of the significantly important sectors within Industrials. This industry is a mature sector experiencing a turbulent period owing to the rising global demands for food safety, growing food insecurity, and consumer demand for higher quality and sustainability.
• In many countries, the food & beverage processing industry is a major contributor to the health of the national economy and gets impacted by both the local economy where it manufactures and the global economy in terms of food logistics and imports and exports. Therefore, shifts and changes in regional economies, population size, food consumption, and the food and drinks industry all have significant implications for food processing.
• According to Rentokil PCI, to feed the growing world population, food production is predicted to reach 9.3 billion by 2050, and agricultural production is expected to grow by 70% and nearly 100% in fast-growing economies. Moreover, APAC countries, including India, China, Indonesia, Austrila, Philippines, and Pakistan, will represent more than 50% of the world's population by 2050, and two-thirds of the world's population will be living in cities, leading to the demand for increasing demand for processed foods by 128%.
• Owing to all these trends, productivity, and the cost of raw commodities, consumers, customers, and legislation will need even greater transparency of food safety and quality than ever before. As a result, the food and beverage machinery industry is expanding exponentially. In the last few decades, there has been a steady influx of technology in the food industry, and companies are trying new and innovative strategies to boost their profitability.
• These new food processing equipment are employed for food and food product applications ranging from bakery goods to beverages and dairy to produce, and a wide range of food processing equipment is used for executing various unit operations necessary during a complete production cycle, such as separating, washing, mixing, freezing, baking, and sealing. Depending on the operation's demands, these equipment can be designed and constructed to handle solid, semi-solid, or liquid food products by batch or continuously.

Asia-Pacific Holding a Significant Share

• The United States and Europe have been at the forefront of the Industrial Revolution over the last two and a half centuries, and almost all Asian countries were latecomers to these revolutions. Nevertheless, most of them, including China, South Korea, Singapore, Hong Kong, Taiwan, India, Indonesia, and Malaysia, made notable progress by the end of the Third Industrial Revolution.
• With industrialization catching motion in Asia and the Pacific, it has also been a driving force in the economic growth of scores of countries in the region and beyond. This shift has led to greater prosperity, urbanization, and population growth. According to ADB, growth in developing Asia is expected to reach 4.8% this year and in 2024, up from 4.2% last year. Moreover, the People's Republic of China's (PRC) recovery and healthy domestic demand in India will be the region's major growth supports for the current and upcoming years.
• Moreover, as per Offshore Technology, Asia-Pacific is expected to witness 2,040 projects for Oil & Gas that will commence operations during the period 2023-27. Out of these, midstream projects would be 564 projects, upstream projects would be 230, the refinery would be 242, and petrochemicals would be the highest with 1,004 projects.
• Additionally, new-build projects are expected to dominate the upcoming project landscape in Asia-Pacific, constituting around 78% of the total projects across the value chain. The share of new-build projects is especially high in the petrochemical sector, with 54% of the total new-build projects across the value chain and expansion projects in the downstream (refinery) sector. Thus, oil & gas production is an essential part of the economy and a complex process that needs specialized equipment.to ensure sustainable, efficient, and safe production.
• Thus, the surging advanced technologies and increased process control systems in end-user sectors are flourishing the process equipment market as they facilitate smooth functioning in processes such as positioning, controlling, recording, and many other tasks.

Process Equipment Industry Overview

The Process Equipment market is fragemented, with major vendors such as Emerson Electric Co., Gardner Denver, and ANSYS, Inc. dominating the market. High entry barriers make it difficult for new players to enter the market. Existing vendors are investing heavily in researching and developing new and innovative products.

• In April 2023, Emerson Electric Co. to Advance Global Automation Leadership Through Acquisition of NI,Emerson will enhance its automation capabilities and gain a broader set of customers that relies on NI's solutions at critical points along the product development cycle
• In April 2023, Automated Flexible Conveyor announced the launch of a Batch-Weigh System that may be configured to automatically transfer, weigh, and dispense multiple materials fed from various locations to a common discharge location. The product integrated proprietary weighing technology, PLC-based process controls, and load cells with the company's SPIRALFEEDER flexible screw conveyor. It was considered ideal for loading multiple powders, granules, flakes, pellets, and other bulk materials into mixers, blenders, hoppers, tanks, and containers, each in precise, preset amounts.
• In August 2022, Tencarva Machinery Company announced the acquisition of Fischer Process Industries, which is a leading distributor of pumps, valves, and process equipment. The partnership was expected to bring the addition of valves to Tencarva's product line and provide them access to new markets in Indiana, Kentucky, and Ohio while bolstering our presence in Georgia in the US.

Process Equipment Market Leaders

Process Equipment Market News

• Februray 2024: multinational chemical company LyondellBasell has selected Emerson to modernize control systems and software at its Wesseling complex in Germany. Implementing advanced automation technology will help to enhance operation of an ethylene cracker and butadiene production plant.
• April 2023: Agrekko announced the launch of two new rental heat exchanger fleets: the Large Node Heat Exchanger and the Hastelloy-C Crossflow Heat Exchanger. These readily available types of equipment facilitate customers in petrochemical and refinery operations with the industry's largest heat exchanger and the only exchanger manufactured from Hastelloy. Both products are designed to facilitate seamless operations for petrochemical plants, refineries, and complex chemical contexts by maintaining customer production rates and increasing the equipment processes.
• November 2022: Alfa Laval announced the launch of new multipurpose membrane filtration system in its lab and plant equipment range owing to rising importance of flexibility in production lines. It is a new cross-flow skid-mounted membrane filtration system that can be seamlessly connected to both up and downstream operations, and leads to increasing flexibility across a range of process applications.