Various factors influence the demand for instrumentation valves and fittings, the primary being the rise in activities in the petroleum industry especially in the upstream section of the industry.
New York, NY -- (SBWIRE) -- 07/18/2017 -- Instrumentation valves and fittings are plumbing components that regulate the flow of liquid or gases in the plumbing system or plumbing circuit. While valves help in maintaining and controlling the rate of flow from one point to another, fittings are less complicated components that help in connecting two different points of the plumbing system such as establishing a connection between two different diameter pipes. High quality metals are utilized as building materials of instrumentation valves and fittings that are resistant to rusting, do not warp under high stresses and last longer. The demand for instrumentation valves and fittings is likely to improve on global level owing to developments in the manufacturing sector, healthcare services and power sector. Well-knit chain of instrumentation valves and fittings suppliers delivering the components to the end users and the availability of online methods for both standalone and bulk purchases are also some of the factors enhancing the market growth.
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Instrumentation Valves and Fittings Market: Dynamics
The instrumentation valves and fittings market is also further driven by the growth of chemical industry across the world where valves and fittings are utilized for experimentation, storage and controlling the flow of materials during transportation. The prevalence and growing use of automation in manufacturing units across various industries are also important factors driving the growth of instrumentation valves and fittings market. The pharmaceutical industry demands for extremely precise, sterile and high quality instruments for the manufacture of medicines and relevant products, which can be attributed as an important element for the healthy sustenance of the instrumentation valves and fittings market in the forecast period. The growing trend of utilizing confined chambers, also known as hyperbaric chambers, which are used for remedying various disorders and illnesses in hospitals including Hyperbaric Oxygen Therapy (HBOT), where the internal air pressure differs from ambient atmospheric pressure calls for instrumentation valves and fittings for its construction, affecting the growth of its market in the future. Other trends include designing valves and fittings that seamlessly integrate each of its functions in order to gain higher number of customers in the market. Some of the factors that restrict the growth of the market include higher cost involved in the manufacturing of precision components, unavailability and growing cost of high quality raw materials.
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Instrumentation Valves and Fittings Market: Regional OutlookExponential growth of manufacturing sector in China poses as an attractive prospect for the growth of the market in the upcoming years while growing number of petroleum refineries in the Latin America and Middle East & Africa region is also likely to influence the demand for instrumentation valves and fittings, thereby improving the market further.
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Instrumentation Valves and Fittings Market: Market Participants
Examples of some of the major market participants identified in the manufacture of instrumentation valves and fittings are:
Bray International, Inc., Parker Hannifin Corporation, Swagelok Company, SSP Corporation, CIRCOR Instrumentation, Richards Industries, Armaturenfabrik Franz Schneider GmbH + Co. KG., Tylok International, Inc., HAM-LET Group, DK-Lok Corporation, CPV Manufacturing, FITOK Group, Dwyer Instruments, Inc., Fujikin of America, Inc.