Dublin, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The "India Instrumentation Valves And Fitting Market: Size, Forecast, Share, Growth, Revenue, Trends, Industry, Outlook & COVID-19 IMPACT: Market Forecast By Valve Types, By Fitting Types, By Regions, And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Market revenue size is projected to grow at a CAGR of 11.6% during 2022-2028.
India Instrumentation Valves and Fittings (CNG Industry) Market report thoroughly covers market by valve types, fitting types, and regions.
The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India Instrumentation Valves and Fittings (CNG Industry) Market Synopsis
India instrumentation Valves and Fittings (CNG Industry) market was growing significantly before 2020 on account of government increased in expenditure on infrastructure development activities such as expansion national gas grid and city gas distribution. However, the market saw a sharp decline in 2020 due to the COVID-19 pandemic which resulted in the delay of many large-scale infrastructure development projects, thereby negatively affecting the demand for instrumentation valves and fittings.
However, government's aim to diversify the India's energy basket and higher adoption of natural gas to make India self-reliant to become less dependent on other countries for India's oil and gas requirements would drive the instrumentation valves and fittings market in India.
In year 2020, the spread of the COVID-19 pandemic has resulted in slowdown of the overall economy leading to the temporary halt in many construction projects across the country, thereby impacting the instrumentation valves and fittings market in India. However, the market has regained momentum in 2021 and is expected to grow significantly in the coming years.
India is a prominent market for instrumentation valves and fittings due to strong demand from the oil & gas sector and the strengthening industrial sector. Furthermore, increased investment in exploration and production activities of oil & gas have propelled the demand in recent years and the same trend is set to follow in the forecast period.
Market by Fitting Types Analysis
In terms of fitting types, tube fitting segment has captured 38.4% of the market revenue in 2021. Tube fitting segment acquired highest share in the India instrumentation valves and fittings (CNG Industry) market in 2021 in terms of revenue on account of its higher resistance and strength in higher pressure and temperature conditions. Furthermore, tube fittings offer greater flexibility in systems with fewer connections, meaning fewer potential leak points
Market by Valve Types Analysis
In terms of valve types, ball valves have captured 29.9% of the market revenue in 2021. ball valves accounted for the major market revenue share in 2021 owing to its minimal pressure drops, minimal leakage through wear & tear and time & labor effective to operate along with low maintenance cost. Furthermore, ball valves come in a range of configurations to suit various specifications and can deliver ideal performance in hydrocarbon systems, as well as vapor, air, and gas systems.
Key Highlights of the Report
- India Instrumentation Valves and Fittings (CNG Industry) Market Overview
- India Instrumentation Valves and Fittings (CNG Industry) Market Outlook
- India Instrumentation Valves and Fittings (CNG Industry) Market Forecast
- Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues for the Period 2018-2028F
- Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Types for the Period 2018-2028F
- Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Valve Types for the Period 2018-2028F
- Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Fitting Types for the Period 2018-2028F
- Historical Data and Forecast of India Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Regions for the Period 2018-2028F
- Market Drivers and Restraints
- Market Trends
- Industry Life Cycle
- India Instrumentation Valves and Fittings (CNG Industry) Market - Porter's Five Forces
- Market Opportunity Assessment
- Company Revenue Shares
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Swagelok Company
- Parker Hannifin India Pvt.Ltd.
- Panam Engineers Ltd.
- Emerson Electric Co.
- AVK Valves India Pvt Ltd
- HAVI Engineering India Pvt. Ltd.
- L&T Valves Limited.
- PMT Valves Pvt Ltd
- CRANE Instrumentation & Sampling PFT Corp.
- HP Valves & Fittings India Private Limited
- DK-Lok Corp.
Market Scope and Segmentation
By Valve Types
- Needle Valves
- Manifold Valves
- Ball Valves
- Check Valves
- Diaphragm Valves
- Other Valves
By Fitting Types
- Pipe Fitting
- Tube Fitting
- Weld Fitting
- Biopharm Fitting
- Hose Fitting
- Other Fitting
By Regions
- Northern Region
- Southern Region
- Eastern Region
- Western Region
For more information about this report visit https://www.researchandmarkets.com/r/lk1un4
