NEWARK, Del., Oct. 19, 2023 /PRNewswire/ -- Instrumentation valves and fittings are the digital ingredients of success for food and beverage and healthcare companies. As these industries continue to grow and evolve, the demand for specialized and customized instrumentation valves and fittings is expected to increase.
By 2023, the demand for instrumentation valves and fittings is anticipated to attain a valuation of US$ 2.7 billion. During the assessment period of 2023 to 2033, a sizable CAGR of around 6.7% is predicted.
By 2033, instrumentation valves and fittings sales are projected to be worth about US$ 5.1 billion. In the forecast period, the instrumentation valve and fitting space are expected to generate a total financial potential of US$ 2.4 billion.
The sample PDF summary is available here for an overview of the comprehensive research report.
During the forecast period, the food & beverage sector is anticipated to be a key end-user of instrumentation valves and fittings. Instrumentation valves and fittings are expected to see an increasing demand since this sector places a strong emphasis on quality assurance and cleanliness.
Demand is anticipated to be driven by their capacity to manage gas and fluid flows, thereby preventing contamination and ensuring the effective blending of several materials. Governments worldwide are projected to impose tight regulations and standards for the food & beverage sector. To help adhere to the standards, they are projected to encourage the usage of premium valves and fittings.
Sales of instrumentation valves and fittings are expected to increase due to the present emphasis in the food & beverage sector on automation and efficiency. Systems for process control and automation are expected to be crucial in guaranteeing constant product quality, reducing waste, and increasing production—all critical goals for the sector.
Since they help regulate pressure, temperature, and gas flows, fittings and valves are projected to be popular. The need for digitally connected and distinctive instrumentation valves and fittings is anticipated to increase due to the growing trend toward automation in food & beverage processing plants worldwide.
Another essential element anticipated to support demand is the continued growth and diversity of the food & beverage sector. Manufacturers will be forced to use adaptable and flexible processing equipment to introduce new flavors and goods to satisfy unmet consumer demand.
Demand is also predicted to increase due to the necessity to handle several fluids and adapt to multiple manufacturing requirements in the food & beverage sector. Globally, the food & beverage sector is looking for cutting-edge instrumentation valves and fittings that enable quick switching between new product formulas and recipes.
Key Takeaways-
- Instrumentation valve and fitting sales stood at a valuation of around US$ 2.5 billion in 2022.
- The United States is expected to witness a CAGR of 6.7% in the forecast period.
- The United Kingdom is projected to reach a valuation of US$ 181.8 million by 2033.
- China is expected to reach a valuation of around US$ 767.6 million by 2033.
- Based on products, the valve segment is projected to register a CAGR of 6.5% in the assessment period.
Instrumentation Valve and Fitting Market Research Report Coverage
Attribute | Details | |
Estimated Size (2023) | US$ 2.7 billion | |
Projected Value (2033) | US$ 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 (US$ billion) | |
Key Countries Covered |
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Key Segments Covered | Product, End-Use, and Region | |
Key Companies Profiled |
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Report Coverage | Demand Forecast, Company Share Analysis, Competition Intelligence, Driver Restrain opportunity, and Trend Analysis, Dynamics and Challenges, and Strategic Growth Initiatives | |
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"Since valves and fittings are predicted to enhance the functionality of medical devices, diagnostic tools, and analytical instruments, healthcare practitioners are expected to demand them. Demand is also anticipated to be aided by the pressing need for precise diagnostics and measurements for patient care and pharmacological research & development." – Says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape
Several factors, including trends, dynamics, and the state of the global economy, influence the instrumentation valve's competitive climate and fitting space. Currently, several national and multinational businesses dominate the sector. These companies offer a variety of products, including fittings, tubing, valves, and related accessories.
A few prominent international companies primarily control the field of instrumentation valve and fitting. These companies usually have extensive product portfolios, global shipping networks, and a monopoly in important industrial subsectors. SSP Fittings Corporation, Swagelok, Emerson Electric Co., and Emerson Electric Co. are among the top players.
For instance,
- In February 2023, OMAL unveiled the Rackon-X, a fully wireless pneumatic actuator with a data tracking unit for tracking and saving crucial operating data. This ground-breaking product is the outcome of extensive research & development. It encourages the emerging, worldwide trend toward comprehensive data tracking and routine maintenance approaches.
- Emerson released two brand-new improvements for the Crosby J-Series pressure relief valve (PRV) solution line in December 2022. Using a balanced diaphragm, the first eliminates the need for bellows in PRVs. It provides controlled operation under pressure to lower ownership costs and boost productivity. The second method, called Bellows Leak Detection, enables extensive Bellows split identification in PRVs.
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About the Industrial Automation Division at Future Market Insights (FMI)
The industrial automation division of Future Market Insights (FMI) offers a novel approach and innovative perspective in analyzing the industrial automation domain. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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