A recent report published by Infinium Global Research on instrumentation valves and fittings market provides in-depth analysis of segments and sub-segments in the global as well as regional instrumentation valves and fittings market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional instrumentation valves and fittings market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global instrumentation valves and fittings market. According to the report, the global instrumentation valves and fittings market is projected to grow at a CAGR of 3.37% over the forecast period of 2020-2026.

Market Insight

Instrumentation valves and fittings regulate the flow of liquid and gases in the plumbing system or plumbing circuit. The valves help in maintaining and controlling the rate of flow and pressure from one point to another, while the fittings help in connecting two different points of the plumbing system. The fittings help in establishing a connection between two different diameter pipes. High-quality metals are used as building materials for the instrumentation valves and fittings to make them resistant to rust, resistant to warp under high stresses, and last longer. Instrumentation valves and fittings have found their application across manufacturing plants of various industries such as oil & gas, food & beverages, chemicals, healthcare, pulp & paper, energy & power, and others. 

The raw materials required for instrumentation valves and fittings include metal, silicon, and polymer. The raw materials for valves and fittings are required to be of industrial grade. The instrumentation valves and fittings are expected to be durable, thus the raw materials required are also expected to be heavy-duty. The suppliers offer raw materials in bulk quantity, in the form of ingots. These ingots are then sold to the vendors that produce component parts. The spread of coronavirus has severely affected the business of raw material suppliers. Shortage of labor and disordered logistics are some of the major setbacks faced by raw material suppliers. Due to concern over contracting coronavirus and government lockdown orders, the laborers for the raw material industry in several countries are absent from their workplace. Similarly, the governments have imposed stringent regulations over the transport of goods as a preventive measure to contain the coronavirus. This negatively impacts the business of raw material suppliers. Nevertheless, as conditions are getting to their normal state, the business is expected to be streamlined again. The growing adoption of automation in the manufacturing plants is augmenting the technological advancements in the instrumentation valves and fittings market. Manufacturing plants in several industries have automated valve actuators for tasks such as opening and closing valves. This, in turn, boosts the growth of the instrumentation valves and fittings market. Moreover, the increasing drilling and extraction activities in the upstream section of the petroleum industry is anticipated to boost the demand for instrumentation valves and fittings. The instrumentation valves and fittings play an important role in the oil and gas industry, such as regulating the parameters such as flow rate, pressure, temperature, and level of the fluid in a pipeline. However, the severe impact of COVID-19 on the end-use industries is anticipated to pose a challenge for the market. The major end-use industries including oil & gas, energy & power, and wastewater treatment witnessed reduced demand during the pandemic, which in turn, hampered the market growth. Nevertheless, the growing trend of hyperbaric oxygen therapy (HBOT) is anticipated to boost the market in the future.

The Asia Pacific generated the highest revenue for the instrumentation valves and fittings market among other regions in the world. Moreover, the Asia Pacific instrumentation valves and fittings market is anticipated to grow at the fastest rate over the forecast period as compared to other regional markets. The growing oil and gas exploration activities and the growing need for water treatment in countries, such as India, China, and Japan are the major driving factors for the growth of the Asia Pacific instrumentation valves and fittings market.

Segment Covered

The report on the global instrumentation valves and fittings market covers segments such as product, material, and industry. On the basis of product, the sub-markets include valves, fittings, actuators, and others. On the basis of material, the sub-markets include stainless steel, alloy, cast iron, and others. On the basis of industry, the sub-markets include oil & gas, food & beverages, chemicals, healthcare, pulp & paper, energy & power, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Swagelok, Parker-Hannifin Corporation, HY-LOK Corporation, Fujikin Inc., Bray International Inc., Circor International, Richards Industries Inc., AS-Schneider Group, Ham-Let Group, and Oliver Valves Ltd.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the instrumentation valves and fittings market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.