Press release
Insights into Instrumentation Valves and Fittings Market 2024
Instrumentation Valves and Fittings
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%. The growth in the forecast period can be attributed to renewable energy infrastructure development, expansion of chemical and pharmaceutical sectors, focus on environmental monitoring and compliance, integration in water and wastewater treatment, global emphasis on infrastructure projects.. Major trends in the forecast period include advancements in valve actuation technologies, adoption of low-emission valve solutions, customization for specific industry requirements, integration of 3d printing technologies, focus on sustainable and eco-friendly practices..
Market Overview -
Instrumentation valves and fittings refer to instruments that are used in industrial piping systems to control the flow of fluid. They restrict or accelerate the flow of liquids.
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Rising Smart City Initiatives Fuel Growth In The Instrumentation Valves And Fittings Market
The growing number of smart cities is expected to propel the instrumentation valves and fittings market going forward. A smart city is a city that makes use of information and communication technology (ICT) to boost productivity, inform the populace, and enhance the standard of public services and welfare. Instrumentation valves and fittings are used for backflow leakage prevention, acid/caustic/water flow control, and pressure reduction that supports smart city projects by providing various valves and fittings required for the construction of smart cities. For instance, in October 2022, according to the National World PLC, a UK-based news publishing company, Saudi Arabia is building a smart city called ""Neom"" to host an international sporting event called 'The Asian Winter Games 2029.' Neom is now being constructed in Tabuk Province in northwest Saudi Arabia with an approximate cost of $500 billion (about £436 billion). Therefore, the growing number of smart cities is driving the instrumentation valves and fittings market.
Competitive Landscape -
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
Advanced Valve Technologies Transform Instrumentation Valves And Fittings Market Presence
Technological advancement is a key trend in the instrumentation valves and fittings market. Major companies in the market are introducing new technologically advanced products such as EZ Valve which is based on insertion valve technology. For instance, in November 2022, Advance Valve Technologies, a US-based manufacturer of valves and fittings, partnered with Nova Siria, an Italy-based multi-range couplings and flange adaptors company, and Idroambiente, an Italy-based drilling company to launch its EZ valves, insertion valve technology in Italy. EZ valves are designed with a built-in isolation gate that helps the valve to be installed under pressure and enables water management without wasting water.
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Key Segments -
The instrumentation valves and fittings market covered in this report is segmented -
1) By Product: Valves, Fittings, Actuators, Other Products
2) By Material: Alloy, Cast Iron, Stainless Steel, Other Materials
3) By Industry: Chemicals, Energy And Power, Healthcare, Oil And Gas, Pulp And Paper, Other Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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