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Instrumentation Valves And Fittings Market | Covid-19 Impact Analysis
The Instrumentation Valves and Fittings Market is Segmented by Material Type (Stainless Steel, Alloy Based, Cast Iron, and Others), by Product Type (Valves, Fittings, Pneumatic Actuators, and Others), by Industry Type (Oil & Gas, Food & Beverages, Chemicals, Healthcare, Paper and Pulp, Energy & Power, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Instrumentation valves and fittings market is likely to witness a healthy CAGR of 3.5% during the forecast period. The prime factors that are contributing to the demand for instrumentation valves and fittings in the market are mainly the growth in the electronics & semiconductor industry, growing oil & gas industry, increasing automation, and a large number of coal-based power projects in the Asia-Pacific region.
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Instrumentation Valves and Fittings Market - Snapshot |
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Growth |
3.5% for the next five years |
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Major Material Type |
Stainless Steel |
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Fastest-Growing Product Type |
Valves |
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Dominant Industry Type |
Oil & Gas |
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Fastest-Growing Region |
Asia-Pacific |
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Key Players |
Swagelok, Parker Hannifin Corporation, Circor International, Inc., Ham-Let Group, Hy-Lok Corporation, Bray International Inc., As-Schneider, Fujikin, Hex Valve, and Oliver Valves Ltd. |
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Based on the material type, the market is segmented as stainless steel, alloy based, cast iron, and others. The stainless steel material segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Manufacturers integrate new products with tough materials to increase the strength, mechanical properties, and reliability while reducing the material cost of the product. The wide use of stainless steel in different end-use industries, such as oil & gas, chemicals, healthcare, and semiconductor is driving the growth of this segment.
Based on the product type, the market is segmented as valves, fittings, pneumatic actuators, and others. The valves product is expected to remain the fastest-growing segment during the forecast period. Ball valves are used widely, due to their low pressure drop property and the ability to open and close quickly. These valves are used in various applications, such as transmission, storage, and gas processing across industries. The check valves are used in wastewater, portable water, and irrigation applications; these valves are also used in various end-use industries such as process, mining, food & beverages, oil & gas, and pharmaceuticals.
Based on the industry type, the instrumentation valves and fittings market is segmented as oil & gas, food & beverages, chemicals, healthcare, paper and pulp, energy & power, and others. The oil & gas segment dominates the market, as valves and fittings are used in the oil & gas industry in offshore rigs, refinery plants, and gas handling systems. These valves and fittings should be able to resist the harsh environmental conditions, due to which the maintenance, repair, and operations (MRO) activities are essential for this industry.
In terms of regions, Asia-Pacific is estimated to remain the fastest-growing instrumentation valves and fittings market during the forecast period. The growth of the market is propelled by the employment of instrumentation valves and fittings in fabrication and manufacturing process of the semiconductor industry. Further, increased focus on cleanliness and hygiene and the presence of a large number of instrumentation valves and fitting manufacturers in the Asia-Pacific region are bolstering the region’s market. Asia-Pacific is also witnessing tremendous economic growth, political transformation, and social change which is inferable from the development of the market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Some of the major players in the instrumentation valves and fittings market are-
Instrumentation valves and fittings are plumbing components which regulate the flow of liquid or gases in the plumbing system or circuit. These valves help in maintaining and controlling the rate of flow from one point to another and fittings are less complicated components that help in connecting different points of the plumbing system.
Instrumentation valves and fittings employ high quality metals that are used as building material, which provides resistant to rust and do not wrap under high stresses and last longer.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Instrumentation Valves and Fittings Market Research Report - Features |
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Market Segmentation |
4 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The instrumentation valves and fittings market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The instrumentation Valves & Fittings Market is expected to witness an impressive growth of 3.5% CAGR in the foreseeable future.
Swagelok, Parker Hannifin Corporation, HY-LOK Corporation, Fujikin, Bray International Inc., Circor International, Inc., Hex Valves, AS-Schneider, Ham-Let Group, and Oliver Valves Ltd are among the key players in the Instrumentation valves & Fittings Market.
Asia-Pacific is expected to be the fastest growing industrial valves & fittings market during the next five years.
The stainless-steel segment is expected to remain dominant material in the Industrial Valves & Fittings Market in the coming years.
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