North America Instrumentation Valves and Fittings Market Worth $1,428.1 Million by 2022

Thursday 17 November 2016, Amsterdam

The Report, now available on ASDReports, “North America Instrumentation Valves and Fittings Market, by Product Type (Process Valves, Manifold Valves, Ultra-Clean Valves, Fitting & Connectors, and Pneumatic actuators), by Application - Trends and Forecasts till 2022” is estimated to reach $1,428.1 million by 2022, growing at a CAGR of 4.2 % from 2016 to 2022

Valves are expected to hold the largest size of the instrumentation valves and fittings market during the forecast period

The increasing demand for valves in North America is attributed to its high requirement in industrial automation in gas, fumes, and fluid control applications. The recent push by economies such as the U.S. and Mexico in implementation of ball valves has increased the market for valves. Further, the market for ultra-clean valves is expected to witness high growth which is expected to drive the market in the near future.

Oil & gas application is expected to lead the market during the forecast period

On the basis of applications, the market is segmented into semiconductors, oil & gas, food & beverages, chemical, pharmaceuticals, paper & pulp, and hyperbaric chamber. The instrumentation valves and fittings market for the oil & gas application is expected to hold the leading position by 2022, owing to flow control and pressure control applications. The market for pharmaceuticals application is expected to grow at the highest rate, owing to increasing use of valves in air systems, gas systems, and analytical instrumentation to maintain hygiene, cleanliness, and maintenance access.

The market in the United States is expected to grow at the highest rate during the forecast period

The market in the U.S. is expected to grow at the highest rate between 2016 and 2022 because of the increasing demand for instrumentation automation in oil & gas and semiconductor applications. The oil & gas industry is a major contributor to the U.S. economic growth. Shale gas which is commercialized in the U.S. is extracted using advanced technologies such as hydraulic fracturing and horizontal drilling. These technologies are driving the growth of valves & fittings in this segment.

The major players in the instrumentation valves and fittings market are SWAGELOK (U.S.), Parker Hannifin (U.S.), SSP Fitting Corporation (U.S.), Circor International, Inc. (Hoke) (U.S.), AS-Schneider (Germany), HexValve (U.S.), Bray International Inc. (U.S.), Fujikin Incorporated (Japan), and Dwyer Instruments (U.S.).