세계의 계측용 밸브 및 피팅 시장 전망(-2030년) : 제품별, 재료별, 최종 사용자별 및 지역별 분석

According to Stratistics MRC, the Global Instrumentation Valves and Fittings Market is accounted for $3.70 billion in 2024 and is expected to reach $7.06 billion by 2030 growing at a CAGR of 11.4% during the forecast period. Instrumentation valves and fittings are essential parts of fluid and gas systems, providing accurate control and measurement in a variety of industries. These specialist fittings and valves are made to be precise and dependable even in the most hostile conditions and high pressures. They are available in many different configurations, such as manifolds, ball valves, check valves, and needle valves, each with a specific function in fluid handling and control applications. Moreover, instrumentation valves and fittings, with attributes like premium materials, precise measurements, and airtight closures, are essential for preserving the integrity and effectiveness of industrial operations, ranging from petroleum and gas to pharmaceuticals and other sectors.

According to the International Society of Automation (ISA), advancements in instrumentation technology are revolutionizing industrial automation, enabling more efficient and precise control of processes across various sectors.

Market Dynamics:

Driver:

Growing need for industrial automation

Industrial automation solutions are becoming more and more popular as a result of the increased focus on increasing productivity and efficiency across industries. In automated systems, instrumentation valves and fittings are essential components that allow for accurate fluid and gas flow control and measurement. Additionally, the need for instrumentation valves and fittings is steadily increasing as industries look to reduce manual intervention and streamline operations.

Restraint:

Installation and maintenance complexity

This can be difficult for end users to do since installing and maintaining instrumentation valves and fittings frequently calls for specific knowledge and abilities. In order to ensure optimal performance and longevity, complex systems may require professional installation and periodic maintenance. Furthermore, some prospective customers may be discouraged from investing in instrumentation solutions due to the additional complexity and cost of ownership that come with calibration and troubleshooting requirements.

Opportunity:

Developments in additive manufacturing

Innovation in the design and manufacture of instrumentation valves and fittings is made possible by the use of additive manufacturing, or 3D printing. Rapid prototyping and customization of intricate geometries are made possible by additive manufacturing technologies, which improve the functionality and performance of products. Moreover, by using additive manufacturing, producers can create valves and fittings that are specifically suited to the needs of individual customers, catering to specialized markets and gaining a competitive advantage.

Threat:

Strong rivalry and pricing pressure

Instrumentation valves and fittings are subject to intense competition in the market, with many vendors providing comparable goods. Price pressure can result from intense competition, particularly in commoditized markets where there is little room for differentiation. Established suppliers may face financial difficulties as a result of low-cost rivals undercutting their prices, particularly manufacturers from developing nations. Additionally, businesses must concentrate on value-added services, product differentiation, and operational efficiencies to reduce this threat and preserve competitiveness without sacrificing margins.

Covid-19 Impact:

The COVID-19 pandemic had a major effect on the market for instrumentation valves and fittings by interfering with supply chains, postponing projects, and lowering demand in a number of industries. Delivery delays and production slowdowns resulted from disruptions to manufacturing operations and logistics caused by lockdown measures, travel restrictions, and workforce limitations. Furthermore, businesses delayed capital expenditures and investment decisions due to uncertainty about the pandemic's severity and duration, which had an impact on the start of new projects and the acquisition of equipment.

The Stainless Steel segment is expected to be the largest during the forecast period

The stainless steel segment has the largest market share for instrumentation valves and fittings. Because of its remarkable resilience to corrosion and adaptability, stainless steel is widely used in a variety of industries, such as the chemical, pharmaceutical, and oil and gas sectors. The integrity of fluid control systems is ensured by stainless steel instrumentation valves and fittings, which perform dependably, even in challenging conditions. Moreover, the resistance of stainless steel to high temperatures and pressures makes it more suitable for demanding applications like petrochemical plants and refineries.

The Pharmaceuticals segment is expected to have the highest CAGR during the forecast period

The instrumentation valves and fittings market has the highest CAGR in the pharmaceuticals segment. The strict regulatory requirements of the pharmaceutical industry, which demand accurate and dependable fluid control systems to uphold product quality and safety standards, are the primary cause of this industry's rapid growth. Additionally, a strong demand for high-quality instrumentation valves and fittings is anticipated in this sector due to the growing demand for pharmaceutical products worldwide, which is being driven by factors like population growth, rising healthcare costs, and technological advancements in medicine.

Region with largest share:

The market for instrumentation valves and fittings is dominated by the Asia-Pacific region. This domination is the result of swift industrialization, the expansion of infrastructure, and large investments made by nations like China, India, and Japan in industries like manufacturing, chemicals, and oil and gas. Furthermore, the demand for basic utilities like gas, electricity, and water is also fueled by the region's growing urbanization and population, which increases the need for instrumentation valves and fittings in a variety of applications.

Region with highest CAGR:

In the instrumentation valves and fittings market, the Middle East and Africa (MEA) region exhibits the highest CAGR. The region's robust oil and gas industry, large infrastructure project investments, and quick industrialization are the main drivers of this amazing growth. The MEA region's oil and gas reserves are plentiful, and as a result, countries in the region are constantly expanding their production and exploration activities. This calls for the use of sophisticated instrumentation valves and fittings to ensure effective fluid control throughout the extraction, refining, and distribution processes. Additionally, rising investments in industries like chemicals, water treatment, and petrochemicals support the rising demand for instrumentation valves and fittings in a variety of applications.

Key players in the market

Some of the key players in Instrumentation Valves and Fittings market include Endress+Hauser AG, Azbil Corporation, Fuijikin Incorporated, Circor International, Honeywell International Inc, Danaher Corporation (Crane Co.), Yokogawa Electric Corporation, Aalborg Instruments A/S, Emerson Automation Solutions, Dwyer Instruments, Parker Hannifin Corporation, Burkert GmbH, Tesco Corporation, Bray International Inc., Samson AG and Swagelok Company.

Key Developments:

In April 2024, Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. GridBeyond leverages its own unique AI services, robotic trading, and other capabilities to provide an efficient electricity aggregation service that identifies suitable opportunities in the wholesale electricity market, where actually generated electricity is sold, ancillary service markets, where future electricity supply capacity is sold, and capacity markets, where short-term demand and supply balancing capacity is sold.

In November 2023, Endress+Hauser and SICK AGannounced a strategic partnership in process automation to support the global energy transition. The companies signed an MoU, according to a press release, that they aim to combine their expertise and resources to develop new technologies and solutions for cleaner industries.

In June 2023, Honeywell International Inc. HON has entered into a definitive agreement to acquire heads-up-display (HUD) assets of Swedish aerospace and defense company Saab Technology. The financial terms of the transaction are kept under wraps.

Products Covered:

• Valves
• Fittings
• Pneumatic Actuators
• Gaskets
• Manifolds
• Glands
• Other Products

Materials Covered:

• Stainless Steel
• Alloy Based
• Cast Iron
• Other Materials

End Users Covered:

• Oil and Gas
• Food and Beverages
• Chemicals
• Healthcare
• Paper and Pulp
• Energy and Power
• Electronic Industry
• Pharmaceuticals
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Product Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Instrumentation Valves and Fittings Market, By Product

• 5.1 Introduction
• 5.2 Valves
  • 5.2.1 Ball Valves
  • 5.2.2 Needle Valves
  • 5.2.3 Toggle Valves
  • 5.2.4 Metering Valves
  • 5.2.5 Excess Flow Valves
  • 5.2.6 Check Valves
  • 5.2.7 Plug Valves
  • 5.2.8 Other Valves
• 5.3 Fittings
  • 5.3.1 Single Ferrule
  • 5.3.2 Double Ferrule
  • 5.3.3 Pipe Fittings
  • 5.3.4 Flare Fittings
• 5.4 Pneumatic Actuators
• 5.5 Gaskets
• 5.6 Manifolds
• 5.7 Glands
• 5.8 Other Products

6 Global Instrumentation Valves and Fittings Market, By Material

• 6.1 Introduction
• 6.2 Stainless Steel
• 6.3 Alloy Based
• 6.4 Cast Iron
• 6.5 Other Materials

7 Global Instrumentation Valves and Fittings Market, By End User

• 7.1 Introduction
• 7.2 Oil and Gas
• 7.3 Food and Beverages
• 7.4 Chemicals
• 7.5 Healthcare
• 7.6 Paper and Pulp
• 7.7 Energy and Power
• 7.8 Electronic Industry
• 7.9 Pharmaceuticals
• 7.10 Other End Users

8 Global Instrumentation Valves and Fittings Market, By Geography

• 8.1 Introduction
• 8.2 North America
  • 8.2.1 US
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 Italy
  • 8.3.4 France
  • 8.3.5 Spain
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 Japan
  • 8.4.2 China
  • 8.4.3 India
  • 8.4.4 Australia
  • 8.4.5 New Zealand
  • 8.4.6 South Korea
  • 8.4.7 Rest of Asia Pacific
• 8.5 South America
  • 8.5.1 Argentina
  • 8.5.2 Brazil
  • 8.5.3 Chile
  • 8.5.4 Rest of South America
• 8.6 Middle East & Africa
  • 8.6.1 Saudi Arabia
  • 8.6.2 UAE
  • 8.6.3 Qatar
  • 8.6.4 South Africa
  • 8.6.5 Rest of Middle East & Africa

9 Key Developments

• 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 9.2 Acquisitions & Mergers
• 9.3 New Product Launch
• 9.4 Expansions
• 9.5 Other Key Strategies

10 Company Profiling

• 10.1 Endress+Hauser AG
• 10.2 Azbil Corporation
• 10.3 Fuijikin Incorporated
• 10.4 Circor International
• 10.5 Honeywell International Inc.
• 10.6 Danaher Corporation (Crane Co.)
• 10.7 Yokogawa Electric Corporation
• 10.8 Aalborg Instruments A/S
• 10.9 Emerson Automation Solutions
• 10.10 Dwyer Instruments
• 10.11 Parker Hannifin Corporation
• 10.12 Burkert GmbH
• 10.13 Tesco Corporation
• 10.14 Bray International Inc.
• 10.15 Samson AG
• 10.16 Swagelok Company