NEW YORK, Sept. 26, 2023 /PRNewswire/ — The instrumentation tubing market is expected to grow by USD 643.65 million from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 5.81% during the forecast period. The market is segmented by end-user (process industry and discrete industry), type (seamless and welded), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The rising adoption of instrumentation and control solutions is a key factor driving market growth. Instrumentation and control solutions are applied to increase output and improve operational efficiency in the process or auxiliary manufacturing sector. In addition, instrumentation systems are used to measure and control process variables such as flow, level, pressure, temperature, pH, humidity, speed, force, and other variables in the process manufacturing sector. Moreover, instrumentation systems are needed to improve the performance of the automation system. Furthermore, the demand for tubing instruments in the manufacturing process has increased as processing and ancillary industries rely heavily on system equipment to reduce production costs and improve quality. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions of the market’s growth. View FREE PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the instrumentation tubing market: AMETEK Inc., ASC Engineered Solutions LLC, CENTRAVIS PRODUCTION Ukraine PJSC, Hyspan Precision Products Inc., Maxim Tubes Co. Pvt. Ltd., Nippon Steel Corp., Parker Hannifin Corp., Pascal Industries Pte. Ltd., Salzgitter AG, Sandvik AB, Steelmor Industries, SURAJ Ltd., Swagelok Co., TEMPRESCO Inc., TPS Technitube Rohrenwerke GmbH, Tubacex SA, Tylok International Inc., Waverley Brownall, Webco Industries Inc., and Younglee Metal Products Co. Ltd.
- Instrumentation Tubing Market is fragmented in nature.
- Market to observe 5.49% YOY growth in 2023.
Major Trend
- The preference for metals in additive manufacturing is a major trend in the market.
Significant Challenge
- The fluctuations in metal prices are a significant challenge restricting market growth.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Keg Segments:
The process industry segment will account for a major share of the market’s growth during the forecast period. Energy production, power generation, paper manufacturing, water, and wastewater management, chemical and petrochemicals, mining, metal products, pharmaceuticals, food, and beverages are also process industries. Furthermore, given the wide range of field tools at their disposal in key process sectors, e.g., oil and gas, chemicals, and petrochemicals as well as energy, these industries have a very high level of market share for instrument tubes around the world. The resumption of investments in oil and gas is expected to be a key factor driving the growth of the processing industry segment. Hence, these factors are expected to drive segment growth during the forecast period.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-User
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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