The global instrumentation valve and fitting demand is expected to reach USD 2.7 billion by 2023. It is anticipated to witness a considerable CAGR of about 6.7% in the assessment period 2023 to 2033.
Sales of instrumentation valves and fittings are projected to attain a valuation of around USD 5.1 billion by 2033. It is projected to create a total financial potential worth USD 2.4 billion in the forecast period.
| Attributes | Key Insights |
|---|---|
| Instrumentation Valve and Fitting Estimated Revenue (2023E) | USD 2.7 billion |
| Projected Instrumentation Valve and Fitting Revenue (2033F) | USD 5.1 billion |
| Value-based CAGR (2023 to 2033) | 6.7% |
Key Highlights of Instrumentation Valve and Fitting Space-
Food and Beverage Firms to Extensively Use Fluid Handling Valves and Connectors
The food & beverage sector is expected to be a significant end-user of instrumentation valves and fittings in the forecast period. As this sector emphasizes quality control and hygiene, instrumentation valves and fittings are set to experience a surging demand.
Their ability to prevent contamination and ensure the efficient blending of several ingredients by controlling gas & fluid flows is expected to drive demand. Governments worldwide are anticipated to implement strict norms and standards for the food & beverage sector. These are predicted to spur the adoption of high-quality valves and fittings to help comply with the norms.
The food & beverage sector focuses on automation and efficiency, which is set to propel instrumentation valve and fitting sales. Process control and automation systems are set to play a pivotal role in ensuring consistent product quality, lowering waste, and enhancing production, all of which are important for the sector.
Fittings and valves are expected to witness immense popularity as these help control pressure, temperature, and gas flows. The rapid inclination toward automation across food & beverage processing plants globally is projected to drive the demand for digitally connected & unique instrumentation valves and fittings.
The ongoing expansion and diversification of the food & beverage sector is another vital factor expected to aid demand. Introducing new flavors and products to meet the unmet demands is set to compel manufacturers to adopt versatile and flexible processing equipment.
The need to adapt to different production requirements and handle multiple fluids in the food & beverage sector is also anticipated to boost demand. Food & beverage companies worldwide are looking for advanced instrumentation valves and fittings to switch between new product formulations and recipes efficiently.
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Modern instrumentation valves and fittings are set to experience a skyrocketing demand from the healthcare sector. Accuracy and precision are the most significant elements in laboratory and medical settings.
Healthcare professionals are anticipated to demand valves and fittings as these are expected to improve the performance of medical devices, diagnostic equipment, and analytical instruments.
The urgent need for accurate diagnostics and measurements required for the research & development of drugs and patient care is also expected to aid demand.
The healthcare sector is further projected to showcase the integration of digitization & automation, and rapid technological innovations. The ability of instrumentation valves and fittings to help modernize healthcare processes will likely support their demand.
Healthcare professionals are set to deploy these into automated tools to help maintain the precise flow of fluids for laboratory testing, drug delivery, and patient treatment. Their ability to improve patient safety, reduce the risk of human errors, and enhance efficiency is expected to spur demand.
The global instrumentation valve and fitting demand stood at a valuation of around USD 2.5 billion in 2022. It expanded at a moderate CAGR of 7.1% in terms of value in the historical period between 2018 and 2022. It is anticipated to witness a 6.7% CAGR in the forecast period.
| Historical Size (2022) | USD 2.5 billion |
|---|---|
| Historical Value-based CAGR (2023 to 2033) | 7.1% |
The adoption rate of instrumentation valves and fittings is anticipated to exhibit steady growth in the estimated time frame. This growth is attributed to their increasing adoption worldwide in the pulp & paper sector.
The pulp & paper sector is anticipated to prioritize process efficiency and optimization. The sector is set to adopt instrumentation valves and fittings as these play a significant role in controlling the flow of steam, water, and chemicals in several manufacturing stages.
As precise control is required to minimize waste, lower energy consumption, and enhance product quality, these valves and fittings are set to show high growth. Pulp & paper companies are anticipated to use these to refine their operational efficiency.
The rising environmental and sustainability concerns worldwide are further projected to support the instrumentation valve and fitting demand. The pulp & paper sector is mainly governed by several standards that mandate improving resource utilization and reducing carbon emissions.
Technologically advanced instrumentation valves and fittings are set to find extensive use in the sector as these are capable of providing better control over pressure, temperature, and chemical dosing. These steps are expected to reduce water use and emissions, enabling the sector to comply with the stringent norms.
Another important factor propelling demand is the growing need for durability and reliability in harsh operating conditions. Pulp & paper companies are estimated to look for innovative instrumentation valves and fittings to withstand challenging environments.
Pulp & paper companies often deal with abrasive materials, high temperatures, and corrosive chemicals, which can hamper the performance of the equipment. Instrumentation valves and fittings are expected to be adopted to maintain minimal downtime and provide long-lasting performance, thereby reducing maintenance costs.
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The table below provides the latest trends in the global instrumentation valve and fitting space, growth obstacles, and upcoming opportunities. Business strategies for pushing instrumentation valve and fitting sales would enable stakeholders to invest in the right area and gain profit.
| Attributes | Key Factors |
|---|---|
| Latest Trends |
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| Upcoming Opportunities |
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| Challenges |
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The table presents the expected CAGR for the field of instrumentation valves and fittings over several semi-annual periods spanning from 2022 to 2033. In the first half (H1) of the decade from 2022 to 2032, the field is forecasted to surge at a CAGR of 6.50%, followed by a slightly higher growth rate of 6.60% in the second half (H2) of the same decade.
Moving into the subsequent period, from H1 2023 to H2 2033, the CAGR is projected to increase slightly to 6.80% in the first half and remain relatively moderate at 6.40% in the second half.
These values offer insights into the anticipated growth trends for the instrumentation valve and fitting space, aiding stakeholders and investors in making informed decisions regarding investments & strategies.
| Particular | Value CAGR |
|---|---|
| H1 (2022 to 2032) | 6.50% |
| H2 (2022 to 2032) | 6.60% |
| H1 (2023 to 2033) | 6.80% |
| H2 (2023 to 2033) | 6.40% |
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The table below shows the growth potential of instrumentation valves and fittings alongside CAGRs of the top 5 countries. Out of the 5, the United Kingdom will likely lead the field of instrumentation valves and fittings by exhibiting a CAGR of 7.9% from 2023 to 2033.
China and South Korea are expected to witness instrumentation valve and fitting sales at the CAGRs of 7.4% and 7.2%, respectively.
Instrumentation Valve and Fitting Industry Outlook by Key Countries
| Countries | Value-based CAGR |
|---|---|
| United States | 6.7% |
| China | 7.4% |
| South Korea | 7.2% |
| United Kingdom | 7.9% |
| Japan | 6.8% |
The United States is expected to witness a CAGR of 6.7% in the forecast period in the instrumentation valves and fittings field. The country is anticipated to reach a valuation of USD 878.6 million by 2033.
Instrumentation valves and fittings are projected to experience a high demand from the energy & power sector in the United States. The requirement for precise fluid and gas flow control with the sector’s focus on dependability and safety is expected to push growth.
The need for safe operation of distribution networks, transmission systems, and power generation plants is also projected to drive demand. Their ability to enhance system reliability and lower the chances of accidents by managing flow rates and pressure is expected to support growth.
Rising demand for renewable energy sources, including hydropower, solar, and wind, is set to propel instrumentation valve and fitting demand. Complex operational challenges associated with the aforementioned sources are expected to spur demand. Solar thermal power plants, for instance, are set to use valves and fittings to sustain high temperatures.
The United Kingdom is projected to reach a valuation of USD 181.8 million by 2033 in the field of instrumentation valves and fittings. It is predicted to record a CAGR of 7.9% from 2023 to 2033 in the industrial valve domain.
Increasing demand for residential ball valves in the United Kingdom will likely propel growth. Real estate development and residential construction are expected to rise in the country, especially in urban areas.
As new condominiums, apartments, and homes are developed, there is a surging demand for advanced plumbing systems. The ability of ball valves to help control water flow in appliances, toilets, showers, and faucets is anticipated to drive its use in residential plumbing. Increasing construction activities in the United Kingdom are projected to propel the instrumentation valve and fitting demand.
As per the World Construction Network, beginning in Q2 2023, construction of the Hanwood Park Residential Community is scheduled to be finished in Q4 2027. The project intends to provide greater residential facilities on the back of its proximity to the Barton Seagrave village's edge. It includes proposals for 5,500 residences, schools, and common spaces.
China is expected to reach a valuation of around USD 767.6 million by 2033 in the instrumentation valves and fittings field. It is anticipated to register a CAGR of 7.4% in the review period.
Machine safety is projected to be of utmost importance across factories in China to protect assets and workers from several machinery-related hazards. High-pressure instrumentation valves are set to find extensive usage in the country as these help ensure the safety of machinery and equipment.
The urgent need for emergency shut-off and precise control features in industrial processes augment demand. Several factories in China are expected to use valves and fittings to prevent the flow of toxic materials, including high-pressure gases or chemicals. During malfunctions or emergencies, the need for quick shut-off to prevent accidents is anticipated to propel demand.
Japan will likely witness a CAGR of 6.8% during the assessment period in the instrumentation valves and fittings field. It is set to reach a valuation of USD 450 million by 2033.
The chemical sector in Japan is anticipated to be a key end user of instrumentation valves and fittings. This is attributed to the involvement of several hazardous and corrosive materials in the sector.
The ability of instrumentation valve and fitting systems to prevent spills or leaks and ensure the safety of workers by providing precise control over chemical flow is set to aid demand. Key chemical manufacturers are anticipated to look for these systems as they can withstand harsh chemical environments and reduce corrosion.
Japan's chemical sector is ranked third in the world, with global shipments valued at about USD 300 billion in 2013. It comes after the United States (US D812 billion) and China (USD 1,665 billion). The ongoing expansion of the chemical sector in the country is projected to push the demand for instrumentation valves and fittings.
South Korea is predicted to showcase a considerable CAGR of 7.2% from 2023 to 2033. It expanded at a steady CAGR of 10.0% during the historical period in the instrumentation valves and fittings field.
The presence of a well-established industrial sector in South Korea, such as electronics, automotive manufacturing, and petrochemicals is set to create new opportunities. The ability of instrumentation valves and fittings to promote safe operations, accurate measurements, and efficient production is expected to propel demand.
South Korea is also projected to place a higher importance on environmental compliance and safety in its sectors. Several companies are expected to demand advanced instrumentation valves and fittings to adhere to environmental norms and maintain safety standards.
The urgent need to prevent leaks, reduce emissions, and control the flow of hazardous substances in several sectors is expected to aid demand.
The table below highlights the global demand for instrumentation valves and fittings by product. Under products, the valves segment will likely remain dominant in the assessment period.
The valves segment, while smaller, is set to showcase a significant CAGR of 6.5% through 2033 in the field of instrumentation valves and fittings. It is expected to be followed by fittings, pneumatic actuators, and other segments.
| Category | Product |
|---|---|
| Sub-category | Valves |
| Value-based CAGR (2023 to 2033) | 6.5% |
Based on products, the valve segment is projected to register a CAGR of 6.5% in the assessment period. It grew at a steady CAGR of 7.0% during the historical period from 2018 to 2022 in the field of instrumentation valves and fittings.
Automation and control technologies are being adopted by sectors more frequently for smooth and highly accurate operations. They are expected to look for accuracy and dependability in a variety of industrial operations. As instrumentation valves serve a crucial function in these systems by controlling the flow of chemicals and gases, these are projected to witness high demand.
Businesses worldwide are anticipated to be governed by strict rules and requirements, particularly those in the oil & gas, pharmaceutical, and chemical processing sectors. These compliance specifications for instrumentation valves can create a constant need for certified, high-quality valves.
Several companies are projected to place a high focus on energy efficiency gradually. With growing cost-cutting and sustainability goals, instrumentation valves are expected to find extensive usage across these companies. This is attributed to the surging demand for precise control, waste reduction, and high efficiency to optimize energy usage, all of which instrumentation valves can provide.
The table below highlights the global demand for instrumentation valves and fittings by end-use. Under end-uses, the oil & gas segment will likely remain dominant in the assessment period.
The oil & gas segment, while smaller, is set to showcase a significant CAGR of 6.0% through 2033 in the field of instrumentation valves and fittings. It is expected to be followed by food & beverage, chemicals, paper & pulp, healthcare, energy & power, and other segments.
| Category | End-use |
|---|---|
| Sub-category | Oil & Gas |
| Value-based CAGR (2023 to 2033) | 6.0% |
Based on end-use, the oil & gas segment is anticipated to register a CAGR of 6.0% in the field of instrumentation valves and fittings through 2033. It expanded at a CAGR of 6.9% in the historical period.
Safety is the top priority in the oil & gas sector. Leading oil & gas companies are projected to adopt instrumentation fittings and valves as these can manage the flow of liquids, gases, and chemicals through equipment & pipes.
Growing mishaps, leaks, and spills in the oil & gas sector are another crucial factor expected to drive demand. Superior valves and fittings are expected to witness high demand as these help to offer dependable performance, lowering the possibility of mishaps.
As per the United States PIRG Education Fund, in the United States, there were over 2,600 hazardous gas pipeline leaks that resulted in over USD 4 billion in damages and emergency response costs. It also resulted in around 122 fatalities and the release of 26.6 billion cubic feet of energy as methane or carbon dioxide.
The instrumentation valve and fitting space have a competitive environment influenced by multiple variables, such as trends, dynamics, and the state of the world economy.
Several regional and international companies currently lead the domain. These businesses provide a wide selection of goods, such as fittings, tubing, valves, and related accessories.
Several reputable global firms control most of the instrumentation valve and fitting business. These businesses frequently have sizable product portfolios, worldwide shipping networks, and a dominant position in significant industrial sectors. SSP Fittings Corporation, Swagelok, Emerson Electric Co., and Emerson Electric Co. are a handful of leading players.
Several regional and niche businesses serve specific sectors alongside the global leaders. They are set to concentrate on offering customers more specialized items or more individualized services. Large, medium-sized, and small-scale firms are frequently found in the field, each having particular advantages and segments.
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| Attribute | Details |
|---|---|
| Estimated Size (2023) | USD 2.7 billion |
| Projected Value (2033) | USD 5.1 billion |
| Value-based CAGR (2023 to 2033) | 6.7% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Demand Analysis | Value (USD billion) |
| Key Countries Covered | United States, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, BENELUX, Russia, India, Association of Southeast Asian Nations, Australia and New Zealand, China, Japan, South Korea, Gulf Cooperation Council countries, Türkiye, Northern Africa, South Africa |
| Key Segments Covered | Product, End-Use, and Region |
| Key Companies Profiled | Braeco; Bray International, Inc.; Circor International, Inc.; Dwyer Instruments, Inc.; FITOK Inc. |
| Report Coverage | Demand Forecast, Company Share Analysis, Competition Intelligence, Driver Restrain opportunity, and Trend Analysis, Dynamics and Challenges, and Strategic Growth Initiatives |
The instrumentation valve and fitting space is set to reach USD 5.1 billion by 2033.
The global business is set to witness a 6.7% CAGR from 2023 to 2033.
Valves, fittings, and pneumatic actuators are the main product types.
Dwyer Instruments, Inc. and FITOK Inc. are the leading manufacturers.
The oil & gas sector is the leading end-use of instrumentation valves and fittings.
1. Executive Summary 2. Overview 3. Background 4. Global Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Valves 5.2. Fittings 5.3. Pneumatic Actuators 5.4. Others 6. Global Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 6.1. Oil & Gas 6.2. Food & Beverage 6.3. Chemicals 6.4. Healthcare 6.5. Paper & Pulp 6.6. Energy & Power 6.7. Others 7. Global Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Demand Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Demand Analysis 16. Structure Analysis 17. Competition Analysis 17.1. Braeco 17.2. Bray International, Inc. 17.3. Circor International, Inc. 17.4. Dwyer Instruments, Inc. 17.5. FITOK Inc. 17.6. Ham-Let Group 17.7. Hex Valves 17.8. Hy-Lok Corporation 17.9. Oliver Valves Limited 17.10. Parker Hannifin Corporation 18. Assumptions & Acronyms Used 19. Research Methodology
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Instrumentation Valve and Fitting Market
