“Global Stainless Steel Fittings & Valves Market by Type, by Application, and by Region/ Country (North America, Europe, Japan, China, India, South East Asia, and Rest of the World) – Forecast from 2020 to 2029” is a recently created report at MarketResearch.biz. It is through in-depth research study, both primary and secondary, inputs from industry experts, as well as systematic segmentation of the market, that the research results and outcome have been presented in a systematic flow in the final report. The report presents the first five-year cumulative revenue (2020 – 2024), which is expected to be valued at approximately US$ 5.4 Billion, and this is projected to increase significantly over the latter part of the five-year forecast period.
Fittings are bifurcated into two types, single ferrule fitting, and double ferrule fitting. These fittings are available in wide variety of sizes. The safety factor is quite high in stainless steel fittings. The number of components for these fittings are less and are very easy to install accurately because of the design. Single ferrule fittings are mainly manufactured from stainless steel or brass. Grip in double ferrule fittings is better and has leak-tight connections. The ferrule that is on the inside is called locking ferrule and one that is outside is known as sealing ferrule. types of fittings to be used depends upon several factors including pressure of liquid the fitting can handle, or temperature it could sustain, etc. Some companies have also registered their product to get an edge over others. These companies have better product qualities such as high pressure withstanding capacities, corrosion resistance, etc. Pipe fittings refer to fittings that are used with various sizes of round shaped pipe whereas tube fittings are the fittings used along with different sizes of square, rectangular and cylindrical shape.
Browse the full “Global Stainless Steel Fittings & Valves Market by Type, by Application, and by Region/ Country (North America, Europe, Japan, China, India, South East Asia, and Rest of the World) – Forecast from 2020 to 2029” report at https://marketresearch.biz/report/stainless-steel-fittings-valves-market/
Global Stainless Steel Fittings & Valves Market: Dynamics
Stainless steel fittings and valves are generally used in oil and gas refineries, power plants, water treatment plants, instrumentation pharmaceuticals, food & beverage industry and many more. As disposable income is rising, demand for food and beverages, as well as better healthcare rises. In addition, better income has been linked to increased energy consumption and use of more conventional fuels which boosts the respective industry. As the end-use industries are growing it increases demand of the stainless steel fittings and valves. As prices of metals are volatile in the international market, fluctuations in the price of steel could hinder the market advancement of stainless steel fittings and valves. Also, investments in the metal industry have dropped in this month.
Use of CPVC (Chlorinated Polyvinyl Chloride) and UPVC (Unplasticized Polyvinyl Chloride) as a low-cost alternative is estimated to hamper the growth of the stainless steel fittings and valves market. In many cases PVC fittings and valves are used along with PVC pipes. Government initiatives to provide homes for people below the poverty line are anticipated to positively impact the stainless steel fittings and valves market.
Governments are promoting and working towards making steel sector more competitive since demand for steel is huge across several industries. These efforts indirectly help in fueling the stainless steel fittings and valves market growth.
Global Stainless Steel Fittings & Valves Market: Segmental Snapshot
The global market report is segmented on basis of type, application, and region. The type segments include fittings and valves. The fittings segment is further sub-segmented into single ferrule, double ferrule, pipe fitting, tube fitting, and others. The application segments include industrial, semiconductor, chemical industries, and others. The other application segment includes food & beverage industry, pharmaceuticals, etc. The regions and countries covered in the analysis include North America, Europe, Japan, China, India, South East Asia, and Rest of the World.
By Type: The fittings product type segment is projected to register higher CAGR of more than 4.2% as compared to the valves segment
By Application: The semiconductor industry segment is projected to register higher growth rate of over 4.5%. The industrial segment is expected to follow the semiconductor segment in terms of CAGR.
By Region/ Country: The market in China is projected to register highest CAGR of more than 5.2%, as well as record highest revenue share. The market in India is expected to follow the China market in terms of CAGR.
Competitive Analysis: Global Stainless Steel Fittings & Valves Market
The research report on the global stainless steel fittings & valves market include profiles of some of major players such as Swagelok Company, HAM-LET GROUP, Wellgrow Industries Corp, Sanitary solutions, Inc., Truly Tubular Fitting Corp, Top Line Process Equipment, R & R Fittings and Valves, Dixon Valve & Coupling Company, LLC, LPR Global Inc. (US Korea HotLink), SSP Corporation, Smith Cooper International Inc., and Hebei Guangde Stainless Steel Valve Industry Co., Ltd.
“Global Stainless Steel Fittings & Valves Market: Insights, Market Size & Share, Growth Rate, Ongoing Trends, and Market Forecast: 2020–2029” report has been produced based on deep market study and analysis, along with inputs from experts in the industry. The report includes present scenario and growth prospects of the market for 2019–2029.
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