Instrumentation valves and fittings refer to instruments that are used in industrial piping systems to control the flow of fluid. They restrict or accelerate the flow of liquids.
Sizing and Forecast
The instrumentation valves and fittings market size has grown strongly in recent years. It will grow from $3.38 billion in 2023 to $3.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to expansion of oil and gas industry, increased industrialization and manufacturing, advancements in petrochemical sector, growing importance of process automation, stringent regulatory standards..
The instrumentation valves and fittings market size is expected to see strongly grown in the next few years. It will grow to $4.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to renewable energy infrastructure development, expansion of chemical and pharmaceutical sectors, focus on environmental monitoring and compliance, integration in water and wastewater treatment, global emphasis on infrastructure projects.. Major trends in the forecast period include advancements in valve actuation technologies, adoption of low-emission valve solutions, customization for specific industry requirements, integration of 3d printing technologies, focus on sustainable and eco-friendly practices..
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Segmentation & Regional Insights
The instrumentation valves and fittings market covered in this report is segmented –
1) By Product: Valves, Fittings, Actuators, Other Products
2) By Material: Alloy, Cast Iron, Stainless Steel, Other Materials
3) By Industry: Chemicals, Energy And Power, Healthcare, Oil And Gas, Pulp And Paper, Other Industries
Asia-Pacific was the largest region in the instrumentation valves and fittings market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the instrumentation valves and fittings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing number of smart cities is expected to propel the instrumentation valves and fittings market going forward. A smart city is a city that makes use of information and communication technology (ICT) to boost productivity, inform the populace, and enhance the standard of public services and welfare. Instrumentation valves and fittings are used for backflow leakage prevention, acid/caustic/water flow control, and pressure reduction that supports smart city projects by providing various valves and fittings required for the construction of smart cities. For instance, in October 2022, according to the National World PLC, a UK-based news publishing company, Saudi Arabia is building a smart city called “Neom” to host an international sporting event called ‘The Asian Winter Games 2029.’ Neom is now being constructed in Tabuk Province in northwest Saudi Arabia with an approximate cost of $500 billion (about £436 billion). Therefore, the growing number of smart cities is driving the instrumentation valves and fittings market.
Key Industry Players
Major companies operating in the instrumentation valves and fittings market report are Swagelok Company, Parker Hannifin Corporation, Hy-Lok Corporation, Fuijikin Incorporated, Bray International Inc., Hex Valve Corporation, AS-Schneider GmbH & Co. KG, Ham-Let Inc., SSP Fittings Corporation, Dwyer Instruments Inc., Safelok Components Ltd., Tom Wtley & Associates Inc., Wheatley Flanges & Fittings Inc., Galperti S.p.A., GMI Inc., Sharpe Products Inc., National Flange Corporation, Piping Products Inc., TFA Inc., Weldbend Corporation, Milwaukee Valve Company, Williams Valve and Controls, Gates & Globes Inc., DK-Lok Corporation, HOKE Incorporated, Saeilo Manufacturing Industries, Fujikura Ltd., BuTech High-Pressure Valves and Fittings, CIRCOR International Inc., MKS Instruments Inc., Aalberts N.V., PBM Valve
The instrumentation valves and fittings market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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