World Instrumentation Valves & Fittings Market to Post 4.6% CAGR to 2022, Projects M&M in Its Report Published at MarketPublishers.com23 Sep 2016 • by Natalie Aster
LONDON – The worldwide market for instrumentation valves & fittings is projected to gain traction, recording a 4.6% CAGR to 2022 and reaching a value of USD 4.31 billion by end-2022.
The key force stimulating the market’s growth comprises an upsurge in fracking and utilising 1” to 6” brass or copper valves, increasing process instrumentation and automation (PI&A), and an upsurge in instrumentation valve consumption owing to high growth pace of hyperbaric oxygen therapy (HBOT) devices.
Application-wise, the oil & gas sector will likely hold the lion’s market share by end-2022. The improving situation in the oil & gas industry has pushed up the market demand for valves.
The market for ultraclean valves is projected to grow at a more rapid rate, with pharmaceutical being its key driving application. They are broadly used in the pharma industry for sterile and ultra-hygienic applications which are composed of an extensive variety of valve bodies, actuators, diaphragms, automation, handles, and control units.
America is predicted to take the lead in the market in terms of size by 2022, owing to the substitution of warn-out valves and fittings for novel valves in the pharma, chemical, and oil & gas applications. High level of concentration of the top pharma and chemical industry sectors in the Americas stimulates the expansion and growth of the valves & fittings market. Asia-Pacific is emerging as the most rapidly growing region, on the back of the concentration of electronics factories and also a huge number of coal-fired power generating units are under construction.
Swagelok, SSP Fittings, Parker Hannifin, and Hoke, amongst others, are the companies that dominate the marketplace.
Comprehensive research report “Instrumentation Valves and Fittings Market” drawn up by MarketsandMarkets gives a detailed overview of the market for instrumentation valves & fittings on a global level. It analyses the market segmented by product type, application area, and geographic region; providing market size estimates for each of the segments. The research study takes an insightful look at the market drivers, limiters, and opportunities alongside canvassing their impact on the marketplace. The report gives a value chain analysis of the world instrumentation valves & fittings market. The publication identifies the market trends, examines the competitive scenario, and carries out a shrewd analysis of the leading companies and their strategies. Furthermore, the report includes detailed market forecasts until 2022.
More research reports by this publisher are provided at MarketsandMarkets page.