Global Instrumentation Valves and Fittings Market is valued approximately USD 2.20 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.40 % over the forecast period 2020-2027. Instrumentation valves and fittings is one of most imperative part of manufacturing unit, which is used across manufacturing plants of various industries such as paper and pulp, oil and gas, pharmaceuticals and food and beverages. Also, the instrumentation valve and fittings consist of the plumbing components which can control the gases and liquid flow across the plumbing system. Rapid urbanization and industrialization due to the growing smart city initiatives and implementation of technological advanced instrumentation valves and fittings is anticipated to drive the growth of the market. Further, implementation of process automation and instrumentation in manufacturing plants is also driving the growth of the market during the forecast period. As per the Oxford Economics in June 2019, rise in the automation will lead to a loss of about 20 million manufacturing jobs globally through 2030. It means approx. 8.5% of the global manufacturing workforce could be replaced by automated systems and robots. This would create lucrative growth opportunities for the instrumentation valves and fittings market. Further, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. In July 2020, AS-Schneider released new Double Block & Bleed valves, specifically designed for instrumentation piping. However, the high cost of these valves and fittings is hampering the growth of this market.
The regional analysis of global Instrumentation Valves and Fittings market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region due to the presence of advanced healthcare and chemical infrastructure along with the presence of a large number of key players in these industries. Also, the early acceptance and introduction of advanced instrumentation valves and fittings, particularly in the U.S., due to the domicile of several leading manufacturers is expected to create positive outlook for the growth of the region. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Parker Hannifin Corporation
Circor International Inc.
Bray International Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Stainless Steel Valves
Alloy Based Valves
Cast Iron Valves
Oil & Gas
Food & Beverages
Paper & Pulp
Energy & Power
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Instrumentation Valves and Fittings Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers