Instrumentation Valves And Fittings Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

Instrumentation valves and fittings are plumbing components used to regulate the flow of liquid or gases in the plumbing circuits or plumbing systems. They are used in oil & gas industries both onshore and offshore rigs, refinery plants, gas handling projects, pharmaceuticals, paper and pulp, and others. In addition, valves and fittings are used in the oil and gas industry as they can withstand harsh environmental conditions. Furthermore, the rising demand for automation is driving the market growth of instrumentation valves and fittings. In building construction, use quality materials used which are resistant to rusting, last long, and do not wrap under high stresses such as climatic conditions. In July 2020, AS-Schneider released new Double Block & Bleed valves, specifically designed for instrumentation piping. The global Instrumentation valves and fittings market is expected to witness a CAGR of around 7% during the forecast period (2021–2027). 

However, Covid – 19 has devasted the global economy due to which many sectors experienced a downfall as the demand for instrumentation valves and fittings got reduced within the industries due to the industrial shutdowns. As the production, supply chain, power supply, and other industries were declining due to a lack of operations which directly or indirectly affected the market of instrumentation valves and fittings. In addition, since the industries have been in process for a certain period, the usage of instrumentation valves and fittings is increasing as a source for many plumbing components used in many different sectors. However, the use of plumbing components requires the use of instrumentation valves and fittings, and a rise in the demand for health care products requires instrumentation valves and fittings which is the immense growth of the instrumentation valves and fittings market will be seen during the forecasted period.

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According to UnivDatos Market Insights (UMI)’ research report “global instrumentation valves and fittings market”, the market is expected to witness robust growth during the forecast period 2021-2027F. As the market is anticipated to witness an uptick in the growing demand for instrumentation valves and fittings have been increasing rapidly all over the globe owing to the prevalence and growing use of automation in manufacturing units across various industries. Also, the pharmaceutical industry demands extremely precise, sterile, and high-quality instruments for the manufacture of medicines and relevant products, which can be attributed as an important element for healthy nourishment.

In addition, some of the major players operating in the market include Fujikin Incorporated, Ham-Let Group, Swagelok Company, HY-LOK Corporation, Bray International Inc., Circor International Inc., HEX, AS-Schneider, Parker Hannifin Corporation, Oliver Valves Ltd. Several M&As along with partnerships have been undertaken by these players to develop the coal bed methane market.

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Based on product, the market is fragmented into valves, fittings, pneumatic actuators, and others. During the forecast period, the valves segment is likely to dominate the global instrumentation valves and fittings market. As valves regulate the flow, they become ideal for several industrial applications in end-user industries such as chemicals, healthcare, and others. In addition, valves possess several benefits, such as low maintenance cost, straight-through flow in either direction, low-pressure drop, bubble-tight shut-off and operating torque, and easy actuation. Moreover, the global market is witnessing a series of organic and inorganic growth strategies pertaining to valves for the top manufacturing industries that will drive the market growth during the forecasted period.

Based on material, the market is fragmented into valves, stainless steel, alloy-based, cast iron, and others. During the forecast period, the stainless-steel segment is likely to dominate the global instrumentation valves and fittings market. As it is very durable, also the stainless-steel pipes are very strong. In addition, the installation is very quick, lesser in cost, and less disruption to landscaping, requiring lesser members during installation. Furthermore, stainless steel can be easily customized and is resistive to corrosion. Moreover, its use in multiple industries such as manufacturing industries, construction, and health care industries will boost its demand in the forecasted period. Hence, the factors justify its use in the market which will drive its growth during the forecasted period. This is mainly due to the increasing demand for industrial valves from the construction and healthcare industries.

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Based on application, the market is fragmented into oil & gas, food & beverages, chemicals, healthcare, paper and pulp, energy & power, and others. In 2020, the oil and gas segment is seen dominating the growth of the instrumentation valves and fittings market. As the Increasing demand for energy from the top industries, a flourishing transportation industry, and rising demand for drilling activities in Gulf Cooperation Council countries would be some of the other drivers for the growth of the segment.

Asia-Pacific Held Significant Share in the Market in 2020

For a better understanding of the market adoption of the coal bed methane, the market is analyzed based on its worldwide presence in the regions such as North America; Europe; Asia-Pacific; and the Rest of World. Asia-Pacific is likely going to have significant growth in the instrumentation valves and fittings market during the forecasted period. This is mainly due to some major factors surging the demand for instrumentation valves and fittings are growing population in emerging economies and the rising adoption of instrumentation valves and fittings across different end-user industries, such as energy & power, oil & gas, water & wastewater treatment, chemicals, and healthcare. In addition, countries such as China, South Korea, India, and Australia have prompted the speedy development in several industries as rapid population growth and urbanization in developing economies are increasing and the demand for instrumentation valves and fittings is also increasing. Furthermore, the rising demand in favor to save water by using it in treating wastewater is driving the market growth of instrumentation valves and fittings in the region.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global instrumentation valves and fittings market are Fujikin Incorporated, Ham-Let Group, Swagelok Company, HY-LOK Corporation, Bray International Inc., Circor International Inc., HEX, AS-Schneider, Parker Hannifin Corporation, Oliver Valves Ltd. Several M&As along with partnerships have been undertaken by these players to develop the instrumentation valves and fittings market.

“Global Instrumentation Valves and Fittings Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

Market Segmentation:

1.      By Product (Valves, Fittings, Pneumatic Actuators, And Others)

2.      By Material (Valves, Stainless Steel, Alloy-Based, Cast Iron, And Others)

3.      By Application (Oil & Gas, Food & Beverages, Chemicals, Healthcare, Paper And Pulp, Energy & Power, And Others)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (Fujikin Incorporated, Ham-Let Group, Swagelok Company, HY-LOK Corporation, Bray International Inc., Circor International Inc., HEX, AS-Schneider, Parker Hannifin Corporation, Oliver Valves Ltd.)

Key questions answered in the study:

1.      What are the current and future trends of the global instrumentation valves and fittings industry?

2.      How the industry has been evolving in terms of product, material, application, and region?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global instrumentation valves and fittings industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global instrumentation valves and fittings suppliers across various region and countries?