ADNOC Group: Vast Opportunity for instrumentation valves, fittings & Oil field equipment traders & servicing Companies in Abu Dhabi – UAE
UAE Instrumentation Valves & Fittings Market 2019-2025 – Projected to Grow at a CAGR of Over 5.2%
Growing demand for instrumentation valves & fittings in oil & gas fields, as well as the rapid growth of marine and shipbuilding sector in Dubai along with the prevalence of automation in manufacturing units across industries, are the key drivers for the growth of UAE Instrumentation valves & fittings market during the past years.
Furthermore, exploration of newer and proven natural gas reserves in Abu Dhabi emirate, strengthening the industrial sector and upcoming Maritime Vision 2030 would act as catalysts for the growth of UAE Instrumentation valves & fittings market.
According to the research, the UAE instrumentation valves & fittings market is projected to grow at a CAGR of over 5.2% during 2019-2025.
Rising investment in industrial, marine & shipbuilding and social infrastructure development projects under various programs such as the UAE Vision 2021, Maritime Vision 2030 and Dubai’s Industrial Strategy 2030 would drive the demand for Instrumentation valves & fittings in UAE in the future. Furthermore, the Abu Dhabi Supreme Petroleum Council greenlighted ADNOC’s $132 billion in capital expenditure to expand the state’s energy firm’s oil and gas production capacities.
In UAE, Abu Dhabi region accounted for significant market share in 2018 and is expected to dominate the overall market during the forecast period as well. Upcoming projects such as Barakah nuclear power plant, Ruwais industrial complex, desalination plants, chemical pipelines, and Al Taweelah Alumina Refinery along with Abu Dhabi Economic Vision 2030 would propel the demand for instrumentation valves & fittings market in the Abu Dhabi region during the forecast period.
The report thoroughly covers the market by valves & fittings 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 devise and align their market strategies according to the current and future market dynamics.
#UAE Vision 2030
#Maritime Vision 2030