Instrumentation Valves and Fittings Market: Current Analysis and Forecast (2021-2027)

Report Description

Request For Sample PDF

The global instrumentation valves and fittings market is expected to witness a CAGR of around 7% during the forecast period (2021–2027). As the market is anticipated to witness owing to the growing demand for instrumentation valves and fittings has 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, major players such as Fuijikin 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.

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 7.05% during the forecast period (2021–2027).

Speak To Analyst

Fuijikin 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.

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.

Insights Presented in the Report

“Amongst product, valves category to hold a significant share in the market”

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.

“Amongst material, stainless-steel category to hold a significant share in the market”

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.

Request For Customization

“Amongst application, oil & gas category to hold a significant share in the market”

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 are 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 to witness significant growth during the forecast period”

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.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global instrumentation valves and fittings market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team

Research Methodology

Research Methodology for the Global Instrumentation Valves and Fittings Market Analysis (2021-2027)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global instrumentation valves and fittings market were the three major steps undertaken to create and analyze the adoption of the instrumentation valves and fittings in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global instrumentation valves and fittings market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Request For Sample PDF

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the instrumentation valves and fittings market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the instrumentation valves and fittings market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, material, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the instrumentation valves and fittings market. Further, we conducted factor analysis using dependent and independent variables such as various products, materials, and applications of instrumentation valves and fittings equipment. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the instrumentation valves and fittings market sector across the globe.

Speak To Analyst

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global instrumentation valves and fittings market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the instrumentation valves and fittings market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global instrumentation valves and fittings market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

 Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at a precise statistical number for each segment and sub-segment of the global instrumentation valves and fittings market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of various products, materials, and applications in the global instrumentation valves and fittings market.

Request For Customization

The main objective of the global instrumentation valves and fittings Market Study

The current & future market trends other than the global instrumentation valves and fittings market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investment on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the instrumentation valves and fittings market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of products, materials, and applications
• Define and analysis of the regulatory framework for the instrumentation valves and fittings market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the instrumentation valves and fittings market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world
• Company profiles of the instrumentation valves and fittings market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team