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Recovering oil & gas sector and strengthening of marine & shipbuilding industry would spur the growth of UAE instrumentation valves & fittings market during the forecast period - 6Wresearch

07 March, 2019

Growing demand for instrumentation valves & fittings in oil & gas fields along with rapid growth of marine & shipbuilding sector in Dubai and prevalence of automation in manufacturing units across various industries are the key factors which are driving the growth of UAE instrumentation valves & fittings market during the past few years. Furthermore, exploration of newer and proven natural gas reserves in Abu Dhabi emirate and expanding social infrastructure and development of ambitious transportation projects along with recovering construction industry in Dubai, owing to upcoming event World expo 2020 would act as a catalyst for the growth of UAE instrumentation valves & fittings market during the forecast period.

According to 6Wresearch, UAE instrumentation valves & fittings market revenues are projected to grow at a CAGR of 5.2% during 2019-25F. Development of industrial sector under the government supported economic diversification plans such as UAE Vision 2021, Abu Dhabi Economic Vision 2030 and Dubai's Industrial Strategy 2030 is seen as a strategically important goal for sustainable long-term success for the growth of instrumentation valves & fittings market in the country. Additionally, Abu Dhabi Supreme Petroleum Council has invested around $132 billion to expand the state's energy firm's oil and gas production capacities which in turn would further drive the demand for instrumentation valves & fittings in the region over the coming years.

According to Ravi Bhandari, Manager, 6Wresearch, "The oil & gas and marine & shipbuilding industries were the key revenue generating segments in the overall UAE instrumentation valves & fittings market. This was attributed to the widespread applications of valves and fittings for experimentation, storage and controlling the flow of materials during transportation in industries. Additionally, rising applications of instrumentation valves and fittings in manufacturing and pharmaceutical industry would further surge the demand for instrumentation valves & fittings in the country."

"Ball valves contributes the highest market revenue share in the UAE instrumentation valves market followed by the Manifold valves. Ball valves are eagerly deployed in the oil & gas and marine & shipbuilding sectors for flow control and tight shut-off features." Ravi further added.

According to Vikrant Tomar, Research Associate, 6Wresearch "Demand for instrumentation valves & fittings is likely to remain high during the forecast period with growing usage of instrumentation valves & fittings in water treatment plants & pharmaceutical industry in the country. Additionally, upcoming projects such as Tunnel sewage system and Jebel Ali Sewage treatment plant would further drive the instrumentation valves & fittings market over the coming years."

"Abu Dhabi region was the highest revenue contributor amongst the regions in the UAE instrumentation valves & fittings market on account of rising investment of the emirate in oil & gas sector. Furthermore, initiatives such as UAE Vision 2021 and Abu Dhabi Economic Vision 2030 would further surge the growth of instrumentation valves & fittings in the region." Vikrant concluded.

Some of the prominent companies in UAE instrumentation valves & fittings market include - Hy-LOK Co. Ltd., Parker Hannifin Corporation, Swagelok Inc., Safelok Components Ltd, and DK-LOK.

"UAE Instrumentation Valves & Fittings Market (2019-2025)" provides an in-depth analysis with 92 figures covered in more than 115 pages. The report estimates and forecast the overall UAE instrumentation valves & fittings market by types, applications and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.

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