The Instrumentation Valves And Fittings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s 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 growth in the historic period can be attributed to expansion of oil and gas industry, increased industrialization and manufacturing, advancements in petrochemical sector, growing importance of process automation, stringent 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%. 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..
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.
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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
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.
The instrumentation valves and fittings market report table of contents includes:
1. Executive Summary
2.Instrumentation Valves And Fittings Market Characteristics
3.Instrumentation Valves And Fittings Market Trends And Strategies
4.Instrumentation Valves And Fittings Market analysis
5.Instrumentation Valves And Fittings Market Size And Growth
6.Instrumentation Valves And Fittings Segmentation
7.Instrumentation Valves And Fittings Regional And Country Analysis
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27.Instrumentation Valves And Fittings Competitive Landscape And Company Profiles
28.Instrumentation Valves And Fittings Key Mergers And Acquisitions
29.Instrumentation Valves And Fittings Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Swagelok Company
- Parker Hannifin Corporation
- Hy-Lok Corporation
- Fuijikin Incorporated
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