China Instrumentation Valves And Fitting Markets 2022-2028 - Increased Investment in the Chemical Industry and Oil & gas Exploration & Production Propelling Deman - ResearchAndMarkets.com

The "China Instrumentation Valves And Fitting Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

China Instrumentation Valves and Fittings (CNG Industry) Market revenue size is projected to grow at a CAGR of 8.9% during 2022-2028.

China 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.

China Instrumentation Valves and Fittings (CNG Industry) Market Synopsis

China instrumentation valves and fittings (CNG Industry) market was growing significantly before 2020 owing to government increased in expenditure on infrastructure expansion activities such as expansion of gas grid and gas distribution network across China to accomplish the target of increasing the natural gas share to 14% in China energy basket by 2030.

However, the market saw a sharp decline in 2020 due to the COVID-19 pandemic which resulted in shutdown of manufacturing plants, chemical industries and oil & gas infrastructure projects, thereby negatively affecting the demand for instrumentation valves and fittings. However, government's objective to broaden the horizon of the China's energy basket and higher adoption of natural gas to make China carbon emissions neutral by 2060 would drive the instrumentation valves and fittings market in China.

China has a large energy consumption and is highly dependent on crude oil and coal for transportation which cause carbon emissions. Therefore, to reduce carbon emissions China is shifting towards the greener and cleaner fuel such as CNG and electricity for transportation that would drive the market of instrumentation valves and fittings.

Furthermore, increased investment in chemical industry and exploration & 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 has captured 27.7% of the market revenue in 2021. Tube fitting segment acquired highest share in the China 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 30.7% of the market revenue in 2021. ball valves accounted for the major market revenue share in 2021 owing to their low pressure drop and the ability to open and close quickly.

Further, ball valves are used in various applications, such as transmission, storage, and gas processing across industries.

Key Highlights of the Report

• China Instrumentation Valves and Fittings (CNG Industry) Market Overview
• China Instrumentation Valves and Fittings (CNG Industry) Market Outlook
• China Instrumentation Valves and Fittings (CNG Industry) Market Forecast
• Historical Data and Forecast of China Instrumentation Valves and Fittings (CNG Industry) Market Revenues for the Period 2018-2028F
• Historical Data and Forecast of China Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Types for the Period 2018-2028F
• Historical Data and Forecast of China Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Valve Types for the Period 2018-2028F
• Historical Data and Forecast of China Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Fitting Types for the Period 2018-2028F
• Historical Data and Forecast of China Instrumentation Valves and Fittings (CNG Industry) Market Revenues, By Regions for the Period 2018-2028F
• Market Drivers and Restraints
• Market Trends
• Industry Life Cycle
• China 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

• AVK Valves (Shanghai) Co., Ltd
• CRANE Instrumentation & Sampling PFT Corp.
• DK-Lok Corp.
• Emerson Electric Co.
• Hy-Lok Corporation
• Neway Valve-Suzhou Neway Valve Co., Ltd.
• Parker-Hannifin Corporation
• Schlumberger Limited
• Swagelok Company

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

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

• North China
• Northeast China
• East China
• South Central China
• Southwest China
• Northwest China

For more information about this report visit https://www.researchandmarkets.com/r/qk5mia

View source version on businesswire.com: https://www.businesswire.com/news/home/20221021005220/en/