Global Instrumentation Fittings Market: Snapshot
The constant strive of nearly every industry is to increase production within their existing setup. And while these organizations look for measures to obtain higher efficiencies from their facilities, is also essential for them not to lose out on production due to leakage. Consequently, the instrumentation fittings market is prospering, as they provide a leak-proof and torque-free seal at all tubing connections as well as eliminate costly and hazardous leaks in instrumentation and process tubing. The fittings are specifically designed to meet numerous process safety and other requirements. Reliability, robustness, and high performance of the instrumentation fittings are the main features that consumers seek while buying the product. Also, the instrumentation fittings are comparatively easy to install and rarely require special tools. Additionally, some fittings are re-usable too, and are able to survive heavy vibration and impulse both in pressure and vacuum systems.
According to this business intelligence publication, the demand in the global instrumentation fittings market will increment steadily at a CAGR of 4.9% during the forecast period of 2017 to 2025. The analysts of the report have evaluated that the opportunities in the instrumentation fittings market, across the world, constituted for a revenue of US$1,652.2 mn in 2017 and have estimated the valuation to add up to US$2,417.2 mn by the end of 2025. Factors such as increasing focus on development of infrastructure, tremendous growth of the manufacturing and chemical industries, escalated oil & gas exploration activities in some parts of world, and stringent safety rules and regulations regarding fittings are anticipated to drive the growth of the global instrumentation fittings market in the near future.
Tube Fitting Segment Providing for Maximum Demand
On the basis of fitting type, the instrumentation fittings market has been segmented into tube and pipe fittings. While the tube fitting segment has been further sub-divided into compression, cone and thread, butt weld, push-to-connect, and swivel, the pipe fittings segment has been bifurcated into straight, elbow, tee, and cross. The tube fitting segment has the highest rate of adoption in the instrumentation fittings market, and is projected to expand at an above-average CAGR of 5.0% during the forecast period of 2017 to 2025. This growth is mainly attributed to the rising usage of these instrumentation fitting in the manufacturing and oil and gas industries for flow control mechanism of water flow and gas systems. Certain industry verticals such as chemicals, food & beverage, and wastewater management also utilize these type of instrumentation fitting.
Oil and Gas Industry Primary End User
Based on end-use industry, the instrumentation fittings market has been classified into manufacturing, oil & gas, food and beverages, chemical, and others. The oil & gas industry was the largest end-use segment of the instrumentation fittings market in 2016, as there is a growing need for fittings due to process standardization, process efficiency, and stringent safety rules and regulations in the manufacturing process within organizations. Manufacturing segment is also expected to hold its prominent position in the market during the forecast period.
North America and Asia Pacific Most Lucrative Regions
In 2017, North America constituted for a demand for instrumentation fittings that was worth US$546.6 mn, whereas Asia Pacific provided for a revenue of US$433.9 mn the same year. Even until 2025, these two regions are expected to retain their dominance of demand, although the Middle East and Africa is also projected to expand the demand at a healthy CAGR of 5.0% during the aforementioned forecast period.
AS-Schneider, ASTEC VALVES & FITTINGS, Fujikin of America, Inc., HAM-LET GROUP, Hy-Lok USA, Inc., PARKER HANNIFIN CORP, Swagelok Company, and World Wide Fittings, Inc. are some of the key players currently operating in the global instrumentation fittings market.
Global Instrumentation Fittings Market: Overview
The instrumentation fitting market report provides analysis for the period 2015–2025, wherein the period from 2017 to 2025 is the forecast period and 2016 is the base year. The report covers all the major trends and drivers which are playing a key role in instrumentation fitting market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence market’s growth during the said period. The study provides a holistic perspective on the instrumentation fitting market ’s growth throughout the above mentioned forecast period in terms of revenue (in US$ Mn) and Volume (Mn Units), across different geographies, including Asia Pacific, South America, North America, Europe, and Middle East & Africa (MEA).
The market overview section of the report demonstrates the market dynamics and trends, such as the drivers, restraints, and opportunities that influences the current nature and future status of this market. An attractiveness analysis has also been provided for every geographic region in the report, in order to give a thorough analysis of the overall competitive scenario of the instrumentation fitting market, globally. A marketing strategy analysis, price analysis, has been provided globally in the report. Moreover, the report provides an overview of the various strategies of key players present in the market. Market definition and introduction chapter helps in understanding different trends and Fittings instrumentation fitting along with their types and end use industry which are included in the report.
Global Instrumentation Fittings Market: Segmentations
The global instrumentation fitting market has been segmented on the basis of fitting type into tube, and pipe. Under tube, the instrumentation fitting market is further segmented into compression, cone and thread, butt weld, push-to-connect, swivel, and others. By Pipe, the instrumentation fitting market is further classified into straight, elbow, tee, and cross. On the basis of end use industry, the market has been classified into manufacturing, oil & Gas, food & beverage, chemical and others. Thus, the report provides in-depth cross-segment analysis of the Instrumentation Fitting Market region wise and classifies it into various levels, thereby providing valuable insights at the macro as well as micro levels.
Global Instrumentation Fittings Market: Regional Analysis
On the basis of country, North American market is divided into The U.S., Canada, and rest of North America. Similarly, Europe market is divided into Germany, U.K., France, and Rest of Europe. Asia Pacific has been segmented into China, Japan, India, and Rest of Asia Pacific. Middle East and Africa covers the G.C.C. Countries, South Africa and Rest of Middle East and Africa. Similarly, South America region includes Brazil, and Rest of South America. This report provides all the essential information required to understand the instrumentation fitting and its fitting types and end use industry. Also, the report provides insights related to the fitting type and different end use industry according to the various geographical regions mentioned above. These policies and regulations are directly or indirectly influencing the instrumentation fitting market. Furthermore, porter’s five forces analysis explains the factors which are currently affecting the Instrumentation Fitting Market. This report also provides the value chain analysis for the air cargo security equipment which explains the participants of the value chain.
Global Instrumentation Fittings Market: Competitive Landscape
The report also highlights the competitive landscape of the instrumentation fitting market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive instrumentation fitting market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the instrumentation fitting market’s growth.
AS-Schneider, ASTEC VALVES & FITTINGS, Fujikin of America, Inc., HAM-LET GROUP, HOKE, Hy-Lok USA, Inc., PARKER HANNIFIN CORP, Swagelok Company, World Wide Fittings, Inc., Vesbo Asia Pte Ltd., Allied International S.R.L and BMT Superlok Asia Pte Ltd. are some of the major players operating within the global Instrumentation Fitting Market profiled in this study. Details such as financials, business strategies, and other such strategic information pertaining to these players have been duly provided as part of company profiling
The global Instrumentation Fitting Market is segmented as below:
Global Instrumentation Fitting Market, By Fitting Type
- Cone and Thread
- Butt Weld
Global Instrumentation Fitting Market, By End Use Industry
- Oil & Gas
- Food & Beverage
Global Instrumentation Fitting Market, By Geography
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest Of Middle East and Africa
- South America
- Rest of South America