Author: Himanshu Patni
21 November 2022
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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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.
For a detailed analysis of the global instrumentation valves and fittings, market browse through – https://univdatos.com/report/instrumentation-valves-and-fittings-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 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.
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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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.
Global Instrumentation Valves and Fittings Market Segmentation
Market Insight, by Product
Market Insight, by Material
• Valves
• Stainless Steel• Alloy Based• Cast Iron• Others
Market Insight, by Application
• Oil & Gas
• Food & Beverages• Chemicals• Healthcare• Paper and Pulp• Energy & Power• Others
Market Insight, by Region
Top Company Profiles
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