LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global instrumentation tubing market and the market is poised to grow by USD 440.35 million during 2020-2024 at a CAGR of almost 5% during the forecast period. Request Free Sample Pages
Read the 146-page research report with TOC on "Instrumentation Tubing Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), by End-user (Process industry and Discrete industry), and Segment Forecasts, 2020-2024".
The market is driven by the rising adoption of instrumentation and control solutions. In addition, the preference for metals in additive manufacturing is anticipated to further boost the growth of the instrumentation tubing market.
Instrumentation and control solutions are extensively being used in the process and discrete manufacturing industries to boost operational efficiency and enhance production. This is driving the demand for instrumentation tubing as they are used to connect various instrumentation systems such as pressure gauges, valves, pressure switches, and flow monitoring devices. Instrumentation tubing ensures the effective performance of instrumentation systems and helps in minimizing the overall production cost. Thus, the rising adoption of instrumentation and control solutions is expected to drive market growth during the forecast period.
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Major Five Instrumentation Tubing Market Companies:
AMETEK Inc. is headquartered in the US and operates the business under various segments such as Electronic Instruments and Electromechanical. The company's subsidiary Fine Tubes provides instrumentation tubes.
Nippon Steel Corp.
Nippon Steel Corp. is headquartered in Japan and offers products through the following business units: Steelmaking and steel fabrication, Engineering and construction, Chemicals and Materials, and System solutions. The company provides ASTM A268 Stainless Steel Instrumentation Tubing.
Parker-Hannifin Corp. is headquartered in the US and operates under various business segments, namely Diversified Industrial and Aerospace Systems. The company offers welded and seamless instrumentation tubing and 316/316L AND 6MO stainless steel instrumentation tubing.
Salzgitter AG is headquartered in Germany and offers products through the following business segments: Strip Steel Business Unit, Plate / Section Steel Business Unit, Mannesmann Business Unit, Trading Business Unit, and Technology Business Unit.
Smith-Cooper International Inc.
Smith-Cooper International Inc. is headquartered in the US and offers products through the following business segments: Valves, Sharpe valves and automation, Iron and carbon steel fittings and nipples, Stainless steel fittings and nipples, Pipes and tubing / stainless and brass, Plumbing specialties, COOPLOK Grooved, Brass fittings and nipples, and Lead-free fittings, nipples and valves.
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Instrumentation Tubing End-Users Outlook (Revenue, USD Million, 2020-2024)
- Process industry
- Discrete industry
Instrumentation Tubing Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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