Instrumentation Valves and Fittings Global Market Report 2024

The instrumentation valves and fittings market size has grown strongly in recent years. It will grow from $3.38 billion in 2023 to $3.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The historical period's growth stemmed from the oil and gas industry's expansion, increased industrialization and manufacturing, advancements in the petrochemical sector, the rising significance of process automation, and the enforcement of strict regulatory standards.

The instrumentation valves and fittings market size is expected to see strongly grown in the next few years. It will grow to $4.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. Anticipated growth in the forecast period is linked to the development of renewable energy infrastructure, expansion within the chemical and pharmaceutical sectors, emphasis on environmental monitoring and compliance, integration into water and wastewater treatment systems, and the global focus on infrastructure projects. Key trends expected during this period encompass advancements in valve actuation technologies, the uptake of low-emission valve solutions, tailored solutions for specific industry needs, incorporation of 3D printing technologies, and a dedicated focus on sustainable and eco-friendly practices.

The burgeoning expansion of smart cities is anticipated to drive the market for instrumentation valves and fittings. Smart cities leverage information and communication technology (ICT) to enhance efficiency, public services, and welfare. These valves and fittings play a crucial role in supporting smart city initiatives, providing essential components necessary for their construction. For example, the ongoing development of 'Neom' in Saudi Arabia for hosting the 'the Asian Winter Games 2029' underscores this trend, with an estimated cost of $500 billion (£436 billion) in Tabuk Province, Saudi Arabia, as reported in October 2022.

The ascent of the oil and gas industry is poised to fuel growth in the instrumentation valves and fittings market. This sector involves various operations from exploration to distribution of petroleum resources, relying on these components for precise control and regulation of flow, pressure, and fluid processes. Recent government data from the UK highlighted a significant increase in revenues from oil and gas production, reaching $1.79 billion (£1.4 billion) in the tax year 2021 to 2022, compared to $0.38 billion (£0.3 billion) in the prior year, as of September 2023. This notable increase underscores the industry's reliance on these instruments for operational safety and efficiency. Technological advancements stand out as a pivotal trend in the instrumentation valves and fittings market. Market leaders continually introduce innovative products, exemplified by recent launches like the EZ Valve, which utilizes cutting-edge insertion valve technology. An instance from November 2022 involved Advance Valve Technologies partnering with Nova Siria and Idroambiente to introduce EZ valves in Italy. These valves boast a built-in isolation gate, facilitating installation under pressure and enabling efficient water management without wastage.

Companies at the forefront of the instrumentation valves and fittings market emphasize product innovation to meet stringent safety standards, particularly in high-pressure applications. Noteworthy among these innovations is the development of double block and bleed (DBB) valves. Emerson Electric Co.'s July 2022 launch of the TESCOM Anderson Greenwood Instrumentation H2 Valve Series exemplifies this advancement, engineered specifically for hydrogen applications up to 15,000 psi (103.4 MPa). These valves ensure secure isolation of process pressure, employing a dual shutoff system to enhance safety during maintenance activities. The modular design and enhanced sealing technology minimize potential leakage points, reducing environmental risks associated with high-pressure gas scenarios such as hydrogen fueling stations.

In May 2023, the Hawle Austria Group, known for its high-quality heavy-duty valves and fittings, completed the acquisition of McWane India's valve manufacturing division, marking a strategic undisclosed investment. This move aligns with Hawle's commitment to preserving ongoing operations and retaining the existing workforce, essential aspects of this acquisition. Moreover, it aims to consolidate and strengthen Hawle's footprint within the Indian market, which stands as one of the company's key growth arenas. McWane India Private Ltd., a prominent player in the instrumentation valves and fittings sector, specializes in manufacturing gate valves and industrial valve products.

Major companies operating in the instrumentation valves and fittings market report are Swagelok Company, Parker Hannifin Corporation, Hy-Lok Corporation, Fuijikin Incorporated, Bray International Inc., Hex Valve Corporation, AS-Schneider GmbH & Co. KG, Ham-Let Inc., SSP Fittings Corporation, Dwyer Instruments Inc., Safelok Components Ltd., Tom Wtley & Associates Inc., Wheatley Flanges & Fittings Inc., Galperti S.p.A., GMI Inc., Sharpe Products Inc., National Flange Corporation, Piping Products Inc., TFA Inc., Weldbend Corporation, Milwaukee Valve Company, Williams Valve and Controls, Gates & Globes Inc., DK-Lok Corporation, HOKE Incorporated, Saeilo Manufacturing Industries, Fujikura Ltd., BuTech High-Pressure Valves and Fittings, CIRCOR International Inc., MKS Instruments Inc., Aalberts N.V., PBM Valve.

Asia-Pacific was the largest region in the instrumentation valves and fittings market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the instrumentation valves and fittings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the instrumentation valves and fittings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of products of instrumentation valves and fittings are valves, fittings, actuators, and other types. Valves refer to devices that are connected to pipes or tubes and are used for opening or closing the opening of pipes used to control the flow of liquids that are flowing through the pipes. These are made of various materials including alloy, cast iron, stainless steel, and others used by several industries such as chemicals, energy and power, healthcare, oil and gas, pulp and paper, and other industries.

The instrumentation valves and fittings market research report is one of a series of new reports provides instrumentation valves and fittings market statistics, including instrumentation valves and fittings industry global market size, regional shares, competitors with instrumentation valves and fittings market share, detailed instrumentation valves and fittings market segments, market trends and opportunities, and any further data you may need to thrive in the instrumentation valves and fittings industry. This instrumentation valves and fittings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The instrumentation valves and fittings market consists of sales of in-line filters, manifolds, and connectors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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