Global Instrumentation Valves and Fittings Market is Expected to Represent Highest Incremental Opportunity Revenue of USD 4893.6 Million By 2030 | IGR

Infinium Global Research, a leading market research firm, has published a comprehensive report on the Global Instrumentation Valves and Fittings Market, providing detailed insights into various segments and sub-segments. This comprehensive study highlights the influence of drivers, restraints, and macro indicators on the global and regional instrumentation valves and fittings market, offering valuable forecasts and dollar values. The global instrumentation valves and fittings market was valued at USD 3,539.4 Million in 2022 and is expected to reach USD 4893.6 Million by 2030 and grow at a CAGR of 4.26% over the forecast period.

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Technological Advancements and Automation Fuel Market Growth

The global instrumentation valves and fittings market is expected to grow at a CAGR of 4.26% between 2023 and 2030. The rapid adoption of automation in manufacturing plants is driving technological advancements in the instrumentation valves and fittings market. In various industries, automated valve actuators are used for tasks like valve opening and closing, bolstering market growth.

Additionally, the increased drilling and extraction activities in the upstream sector of the petroleum industry are anticipated to boost the demand for instrumentation valves and fittings. These components play a crucial role in the oil and gas industry, regulating parameters such as flow rate, pressure, temperature, and fluid levels in pipelines.

Challenges Amidst Global Pandemic

However, the outbreak of COVID-19 had a significant impact on end-use industries such as oil & gas, energy & power, and wastewater treatment. The decline in demand within these sectors due to the pandemic has adversely affected the market. Nevertheless, a growing trend in hyperbaric oxygen therapy (HBOT) is expected to provide future growth opportunities.

Asia-Pacific Leads the Market Growth

Geographically, Asia-Pacific leads the global instrumentation valves and fittings market, generating the highest revenue among all regions. The region is expected to exhibit the fastest growth rate over the forecast period. Factors driving this growth include the increasing oil and gas exploration activities and the growing need for water treatment, primarily in countries like India, China, and Japan. Furthermore, the growth of the chemical and healthcare industries in the region is set to create substantial opportunities for the market.

North America Shows Significant Potential

North America follows closely as the second-largest region in the global instrumentation valves and fittings market. The region is home to numerous leading manufacturers in this sector. The replacement of old and inefficient valves with more efficient options for gas transportation in midstream infrastructure is expected to drive overall market growth.

Key Players in the Global Instrumentation Valves and Fittings Market

The market is populated by leading players, including 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.

Automation and Growth in Petrochemical Industries

The rapid adoption of automation in manufacturing plants is expected to boost economic growth and living standards. A report by The World Economic Forum predicts that more than 58% of task hours will be performed by machines and 42% by humans in 2022. Automation enhances labor productivity by reducing the need for human labor to complete specific tasks, subsequently reducing the costs of goods and services. This can lead to increased demand for these goods and services, freeing up income for other expenditures and labor for other productive tasks.

Drilling Efficiency and Oil Production

Efficiencies in drilling have led to significant increases in crude oil and natural gas production worldwide. In 2019, the global oil production reached 95,192 thousand barrels per day, and natural gas production reached 3989.3 billion cubic meters. The United States set new records for crude oil and natural gas production, further driving global production. Emerging technologies like artificial intelligence, machine learning, and advanced robotics have the potential to automate numerous tasks currently performed by workers, making instrumentation valves and fittings crucial for these operations.

Growth of Hyperbaric Oxygen Therapy (HBOT)

Hyperbaric oxygen therapy, a treatment for various medical conditions, is seeing growing popularity. In hyperbaric oxygen therapy, patients breathe pure oxygen in a pressurized environment. This therapy is used for treating conditions such as decompression sickness, air bubbles in blood vessels, and wounds that are difficult to heal due to diabetes or radiation injury. As the number of hyperbaric therapy centers continues to rise, it is expected to drive the demand for hyperbaric chambers, which rely on instrumentation valves and fittings to control pressure.

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Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Instrumentation Valves and Fittings Market Highlights

2.2. Instrumentation Valves and Fittings Market Projection

2.3. Instrumentation Valves and Fittings Market Regional Highlights

Chapter 3. Global Instrumentation Valves and Fittings Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Analysis of COVID-19 impact on the Instrumentation Valves and Fittings Market

3.4. Porter's Five Forces Analysis

3.5. IGR-Growth Matrix Analysis

3.5.1. IGR-Growth Matrix Analysis by Product

3.5.2. IGR-Growth Matrix Analysis by Material

3.5.3. IGR-Growth Matrix Analysis by Industry

3.5.4. IGR-Growth Matrix Analysis by Region

3.6. Value Chain Analysis of Instrumentation Valves and Fittings Market

Chapter 4. Instrumentation Valves and Fittings Market Macro Indicator Analysis

Chapter 5. Global Instrumentation Valves and Fittings Market by Product

5.1. Valves

5.2. Fittings

5.3. Actuators

5.4. Others

Chapter 6. Global Instrumentation Valves and Fittings Market by Material

6.1. Stainless Steel

6.2. Alloy

6.3. Cast Iron

6.4. Others

Chapter 7. Global Instrumentation Valves and Fittings Market by Industry

7.1. Oil & Gas

7.2. Food & Beverages

7.3. Chemicals

7.4. Healthcare

7.5. Pulp & Paper

7.6. Energy & Power

7.7. Others

Chapter 8. Global Instrumentation Valves and Fittings Market by Region 2023-2030

8.1. North America

8.1.1. North America Instrumentation Valves and Fittings Market by Product

8.1.2. North America Instrumentation Valves and Fittings Market by Material

8.1.3. North America Instrumentation Valves and Fittings Market by Industry

8.1.4. North America Instrumentation Valves and Fittings Market by Country

8.2. Europe

8.2.1. Europe Instrumentation Valves and Fittings Market by Product

8.2.2. Europe Instrumentation Valves and Fittings Market by Material

8.2.3. Europe Instrumentation Valves and Fittings Market by Industry

8.2.4. Europe Instrumentation Valves and Fittings Market by Country

8.3. Asia-Pacific

8.3.1. Asia-Pacific Instrumentation Valves and Fittings Market by Product

8.3.2. Asia-Pacific Instrumentation Valves and Fittings Market by Material

8.3.3. Asia-Pacific Instrumentation Valves and Fittings Market by Industry

8.3.4. Asia-Pacific Instrumentation Valves and Fittings Market by Country

8.4. RoW

8.4.1. RoW Instrumentation Valves and Fittings Market by Product

8.4.2. RoW Instrumentation Valves and Fittings Market by Material

8.4.3. RoW Instrumentation Valves and Fittings Market by Industry

8.4.4. RoW Instrumentation Valves and Fittings Market by Sub-region

Chapter 9. Company Profiles and Competitive Landscape

9.1. Competitive Landscape in the Global Instrumentation Valves and Fittings Market

9.2. Companies Profiles

9.2.1. Swagelok

9.2.2. Parker-Hannifin Corporation

9.2.3. HY-LOK Corporation

9.2.4. Fujikin Inc.

9.2.5. Bray International Inc.

9.2.6. Circor International

9.2.7. Richards Industries Inc.

9.2.8. AS-Schneider Group

9.2.9. Ham-Let Group

9.2.10. Oliver Valves Ltd.

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of instrumentation valves and fittings.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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