India Instrumentation Valves and Fittings (CNG Industry) Market revenue size is projected to grow at a CAGR of 11.6% during 2022-2028

Ball valves acquired the largest market revenue share in the India Instrumentation Valves and Fittings (CNG Industry) market in year 2021 – 6Wresearch

The Instrumentation valves and fittings market in India increasing significantly over the last few years on account of various infrastructural developments projects in the country such as Pradhan Mantri Urja Ganga Project, Northeast Region (NER) Gas Grid and Petroleum and Natural Gas Regulatory Board Projects for development of natural gas infrastructure of the country. However, with the outbreak of the COVID-19 pandemic in 2020, infrastructure sector witnessed massive hit due to supply chain disruptions, delays and lack of man-force, thus, negatively impacting the instrumentation valves and fittings market in the country in 2020.

However, with the revival of the economy from the prolonged impact of the coronavirus pandemic underpinned by the government’s economic diversification plans coupled with strategies to boost the public-private partnerships, the demand for instrumentation valves and fittings in India picked up pace in the last quarter of 2020 and in also expected to increase in the next few years.

According to 6Wresearch, India Instrumentation Valves and Fittings (CNG Industry) Market revenue size is projected to grow at a CAGR of 11.6% during 2022-2028. The India Instrumentation Valves and Fittings (CNG Industry) market is poised for growth in the coming years as government aims to increase share of natural gas in India’s energy basket from 6.7 percent to 15 percent by the year 2030. Furthermore, with increasing price of petrol and diesel the demand for CNG vehicles have surged in the recent years thus the consumption of CNG has increased in the country. Hence, instrumentation valves and fittings market would show positive trend in the forecast period.

According to Rishabh Singh Bhandari, Research Analyst, 6Wresearch,

“Valves segment and fittings segment both acquired almost similar market growth in the India instrumentation valves and fittings (CNG Industry) market in 2021 as both are the essential components that enable and regulate the leak free flow and transportation of media across piping systems and are used in domains such as oil & gas, process-based industries. Although, valves segment contributes a major portion to the overall instrumentation valves and fittings market revenues in India.”

Some of the major companies in India Instrumentation Valves and Fittings (CNG Industry) market include Swagelok Company, Parker Hannifin India Pvt.Ltd. and L&T Valves Limited, Panam Engineers Ltd., Emerson Electric Co., AVK Valves India Pvt Ltd, HAVI Engineering India Pvt. Ltd., PMT Valves Pvt Ltd, CRANE Instrumentation & Sampling PFT Corp., HP Valves & Fittings India Private Limited.

“India Instrumentation Valves and Fittings (CNG Industry) market report (2022-2028)” report provides an in-depth analysis with 30 figures and 3 tables, covered in 79 pages. The report estimates and forecast the overall India Instrumentation Valves and Fittings (CNG Industry) market by valve types, fitting types 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 devise and align their market strategies according to the current and future market dynamics.