Instrumentation valves and fittings are required to operate any industrial process control system. These components regulate the flow of fluids and gases, regulate pressure and temperature, and guarantee the system's safety. They are created to meet or exceed the highest industry standards and provide consistent performance.
Instrumentation valves are used to regulate the flow of fluid or gas in a process control system. Instrumentation valve types include globe, ball, gate, needle, and diaphragm valves. On the other hand, instrumentation fittings are essential for connecting the various components of a process control system. They create a fully functional system by connecting pipes, valves, and other components.
Automation has a largely positive economic and social impact, and it is anticipated that it will raise the standard of living of a growing and aging population in the future. Multiple manufacturing facilities use automated valve actuators to open and close valves. The automation of this valve is controlled by air pressure, hydraulics, or electronics.
The majority of automated valve actuators feature an optional control top device. The control tops are attached to the top of the valve actuator and provide real-time electronic information regarding the valve's performance. The rapid adoption of automation in manufacturing facilities creates innovative fittings such as control tops and other technologies. This, in turn, stimulates the expansion of the market for instrumentation valves and fittings.
Hyperbaric oxygen therapy patients breathe pure oxygen in a pressurized environment. Decompression sickness is a potential hazard of scuba diving, and hyperbaric oxygen therapy is a widely accepted treatment. As per the Undersea and Hyperbaric Medical Society (UHMS), there are approximately 1,200 HBOT centers in the United States, and the number is anticipated to increase. With high-quality instrumentation valves and fittings, processes become more efficient, and there is no risk of exposure to hazardous fluids or gases.
In addition, the hyperbaric chambers are equipped with redundant pressure relief valves and rupture discs calibrated to release pressure when it exceeds 470 atmospheres. Several instrumentation valves and fittings control the chamber's internal pressure in hyperbaric chambers. The need for hyperbaric chambers rises in tandem with the acceptance of hyperbaric oxygen therapy, propelling sales of instrumentation valves and fittings and offering prospects for market expansion.
Asia-Pacific is the most significant global instrumentation valves and fittings market shareholder and is anticipated to exhibit a CAGR of 3.74% during the forecast period. The expanding chemical and healthcare industries are anticipated to offer enormous market opportunities. The demand for instrumentation valves and fittings is high in the oil and gas industry, and the region's downstream production has increased. Therefore, the region's demand for instrumentation valves and fittings will increase. The other significant industry in the region is a water treatment facility utilized by numerous industries. Due to increased sales of passenger cars, the replacement of LPG as a cooking fuel, growing urbanization, and the demand for infrastructure and consumer goods, the rising demand for fuel is driving the need for increased refining capacity. The above factors and government support contribute to the region's rising demand for instrumentation valves and fittings over the forecast period.
The key players in the global instrumentation valves and fittings market are Swagelok, Parker-Hannifin Corporation, HY-LOK Corporation, Fujikin Inc., Bray International Inc., Circor International, Richards Industries Inc., AS-Schneider Group, Ham-Let Group, and Oliver Valves Ltd.