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The instrumentation tubing market size is forecast to increase by USD 666.42 million, at a CAGR of 5.64% between 2023 and 2028. Market growth hinges on factors like increased adoption of instrumentation and control solutions, emphasis on miniaturization of instrumentation tubing and instrumentation services, and the gradual recovery of upstream oil and gas activities. These trends drive demand for innovative solutions in the instrumentation sector, particularly in industries reliant on precision and efficiency. As upstream oil and gas activities rebound and industries prioritize compact instrumentation, the market anticipates sustained growth in the demand for pipe and tubing tools, fostering opportunities for advancements and expansion.
Market Forecast 2024-2028
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The instrumentation tubing market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The process industry segment will account for a major share of the market's growth during the forecast period. Process industries include the oil and gas, power, pulp, and paper, water, and wastewater, chemical and petrochemical, mining, metal, pharmaceutical, and food and beverage industries. These industries are strongly represented on the global market for instrument tubes due to a large number of different field instruments available in major process sectors, like oil and gas, chemicals and petrochemicals as well as power.
The process industry segment was valued at USD 1.24 billion in 2018. In the food and beverage industry, there is an increased demand for instrumentation solutions due to a growing number of stringent regulations on food safety. Food and beverage manufacturers are allowed to achieve high efficiency, reliability as well as flexible plant operations through the use of instrumentation solutions. The recovery of oil and gas investments is expected to be a major factor that will drive the growth of process instrumentation during the forecast period. In addition, the stable growth of other process industries, such as chemical and petrochemical, pharmaceutical, and food and beverage, is expected to result in significant growth of the process industry segment during the forecast period.
Based on type, the market has been segmented into seamless and welded. The seamless segment will account for the largest share of this segment. Seamless copper tubes used in the global instrumentation tubing market can withstand higher pressures and are stronger compared to welded tubes. By better uniformity of reinforcement and the creation of more precise sizes, seamless tubes reduce processing time and costs. Seamless tubes have a wide range of applications. Seamless tubing is far more suitable for critical applications like control lines, chemical injections, sub-sea safety valves, steam and heat trace bundles, flow measurement and sensing, and fluid and gas transfer than welded tubing due to its ability to withstand ever-increasing pressures and superior corrosion resistance. Thus, such factors are expected to drive instrumentation tubing market growth during the forecast period.
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APAC is estimated to contribute 43% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The oil and gas industry in APAC is expected to grow due to the significant increase in the number of offshore and onshore oil and gas activities due to the stability of crude oil prices. Countries such as India and China are initiating several new mining and oil and gas exploration projects. Such initiatives are expected to directly boost the outlook of the oil and gas industry and provide high growth opportunities for the instrumentation tubing market in the oil and gas industry during the forecast period.
The market in APAC is expected to grow significantly during the forecast period, driven by countries such as China, Japan, India, Vietnam, South Korea, Malaysia, and Australia. China, Japan, South Korea, and India are the largest markets in APAC, owing to the strong industrialization, rising adoption of instrumentation solutions, and increasing investments in the oil and gas, power, chemical and petrochemical, and automotive industries. Additionally, Alleima AB company offers instrumentation tubing such as duplex stainless steels, nickel alloys and high alloys austenitic stainless steels and austenitic stainless steels with diameters from 1.59 to 50 mm. Also, AMETEK Inc. company offers instrumentation tubing such as seamless tubes and welded tubes through its subsidiary Fine Tubes.
Additionally, government initiatives, rising standards of living, a strong industrial base, and the increasing demand for automobiles manufactured in the region are some of the key factors that are leading to the growth of the instrumentation tubing market in the automotive industry in APAC. The demand for both passenger and commercial vehicles is increasing in APAC. Favorable trade policies for the automotive industry are expected to drive investments in APAC. Thus, these factors will drive instrumentation tubing market growth during the forecast period.
The market serves control and instrumentation systems primarily in process industries like oil and gas exploration and petrochemical facilities. It offers a variety of materials including copper, stainless steel, and alloys in both seamless and welded tubes. These lightweight materials find applications in aerospace, automotive, and more. With increasing demand for customization in the industrial instrumentation industry, the market caters to various sectors such as oil & gas, petrochemical, power generation, and transportation. It plays a crucial role in ensuring the efficiency and reliability of critical systems in these industries. Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. The instrumentation tubing market forecast report examines historical data from 2018-2022, besides analyzing the current and forecast market scenario.
Control and Instrumentation Systems are being adopted to increase production and improve operating effectiveness in the process or ancillary manufacturing sector. Instrumentation systems are used to measure and control process variables such as flow, level, pressure, temperature, pH, humidity, speed, force, and others in production and manufacturing areas. Instrumentation tubes connect various instrumentation systems, such as pressure switches, valves, flow monitoring devices, and pressure gauges in industrial ventilation and piping systems. The manufacturing process in the industry is mechanized, and there are steps taken by the vendors to introduce efficient automation and instrument solutions.
Moreover, instrumentation systems are required to improve the performance of automation systems. In the last two decades, the market has been growing rapidly, as most discrete manufacturing and process industries have invested in automation and instrumentation solutions to streamline cumbersome processes and achieve a competitive advantage. The demand for tubing instruments in manufacturing processes has grown as a consequence of the strong dependence that process and ancillary industries place on system equipment to lower production costs and improve quality, further, it can drive the growth of the market during the forecast period. Additionally, seamless tubes, welded tubes, and other lightweight materials find applications in various industries such as aerospace, automotive, and transportation, including oil & gas and petrochemical sectors. Hence, these factors are driving instrumentation tubing market growth during the forecast period.
Additive manufacturing, also known as 3D printing, is a production technology for the manufacture of 3D objects from computer-aided drawing models. The technology reduces the waste produced while manufacturing components, and thus, it reduces manufacturing costs. It can be used to develop and manufacture products with intricate designs and uniform strength. Additive manufacturing is one of the fast-developing technologies that are used to manufacture industrial metal products and components. Additive manufacturing techniques have been rapidly adopted in the metal and steel industry to produce a variety of components, including racks, condenser towers, heat exchangers, motors, airframes, or tubes.
However, additive manufacturing can be used to produce high-cost, low-volume components that have a complex design at a low cost. Such benefits have encouraged manufacturers to test the use of additive manufacturing technologies to build complex industrial metal structures and components. The adoption of 3D-printed instrumentation tubes has been hampered by the presence of stringent regulatory requirements on the global market for instruments, but continuous improvement in additive manufacturing technology is helping to ease production and enable compliance with legal standards. Owing to improvements in additive manufacturing technology, the OEMs of instrumentation tubing will increase their adoption of additive manufacturing processes during the forecast period.
The production is generally carried out with the use of stainless steel or alloy steel. The price of raw materials has been volatile in the past decade. Increased taxes and duties, the implementation of additional tariffs, and production outages in metal ore-producing countries have impacted the price of steel. The whole supply chain can be adversely affected by fluctuations in steel prices, as the final product has to pass through different stages of development. Such scenarios have encouraged manufacturers to procure raw materials in advance to keep the price and product mix at controllable levels.
Additionally, in large volumes, instrument tubes are produced. For this reason, component makers must plan the whole manufacturing process well before production begins. The cost of raw materials accounts for a major share of the total cost of production for manufacturers. Purchasing raw materials in advance can also increase the cost of procurement at the time of production. Therefore, the volatility in the price of raw materials is a major challenge for instrumentation tubing market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market's competitive landscape and offer information on 20 market companies, including:
ASC Engineered Solutions LLC, CENTRAVIS PRODUCTION Ukraine PJSC, Maxim Tubes Co. Pvt. Ltd., Nippon Steel Corp., Parker Hannifin Corp., Sachiya Steel International, Salzgitter AG, Steelmor Industries, SURAJ Ltd., Swagelok Co., TPS Technitube Rohrenwerke GmbH, Tubacex SA, Tylok International Inc., Vardhman Tube Mill, Waverley Brownall, Webco Industries Inc., and Younglee Metal Products Co. Ltd.
Technavio market forecast provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market encompasses a wide range of industries, including process industries, oil and gas exploration, and petrochemical facilities. Utilizing materials such as copper, stainless steel, and alloys, the market offers both seamless and welded tubes tailored to specific needs. With applications in aerospace, automotive, and power generation, the demand for instrumentation tubing continues to grow. Customization options cater to diverse requirements in control and instrumentation systems, ensuring precise performance in transportation and other sectors. The global instrument tubes market prominence in lightweight materials further enhances its significance in various industrial applications worldwide.
The instrumentation tubing market is integral to various sectors like industrial automation, chemical processing, and diagnostic equipment in medical facilities. The demand for tubing is influenced by factors such as volatile raw material prices and the need for materials and coatings ensuring resistance to adverse weather conditions and corrosion. Innovative techniques like laser machining and tube-manufacturing methods are shaping the market landscape, with companies like Ace Matrix leading the way as innovators in product strategy and scalability. Transportation sector demands drive investments in industrial facility modernization, where safety requirements are paramount.
For the petroleum industry, instrumentation tubing ensures safety compliance and process standardization in offshore apparatuses, refinery plants, and gas handling systems. The market landscape depends on the Safety rules and regulations, service life of equipment, energy-efficient features, and flow volume regulations. The tubing's longevity and resistance to leaks are crucial for infrastructure integrity. Amidst COVID-19 disruptions, the tubing market adapts to serve healthcare product needs, while smart city projects drive demand in the construction sector. With stringent safety norms and regulations, businesses focus on fluid flow control and energy efficiency, emphasizing the importance of reliable data and extensive research in vendor selection and business strategies for sustained growth across various business segments.
Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.64% |
Market Growth 2024-2028 |
USD 666.42 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.46 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alleima AB, AMETEK Inc., ASC Engineered Solutions LLC, CENTRAVIS PRODUCTION Ukraine PJSC, Maxim Tubes Co. Pvt. Ltd., Nippon Steel Corp., Parker Hannifin Corp., Pascal Industries Pte. Ltd., Sachiya Steel International, Salzgitter AG, Steelmor Industries, SURAJ Ltd., Swagelok Co., TPS Technitube Rohrenwerke GmbH, Tubacex SA, Tylok International Inc., Vardhman Tube Mill, Waverley Brownall, Webco Industries Inc., and Younglee Metal Products Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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