Balance Valve Market Report Overview
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The global balance valve market size was USD 569.3 million in 2022 and market is projected to touch USD 784 million by 2031, exhibiting a CAGR of 3.6% during the forecast period.
The global Covid-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. the sudden rise in cagr is attributable to market’s growth and demand returning to pre-pandemic levels.
a balance valve is a valve that maintains fluid pressure in the system to avoid flow variation. balance valves are used for pressure regulation and control, particularly when it has to maintain constant pressures within narrow limits. balance valves are used in pneumatic ontrol systems to maintain constant pressure, in many cases with a feedback system. a balance valve is also known as pressure reducing valves and control valves because its main function is to reduce the upstream pressure for certain applications. balance valves are used when low pressure is needed at the outlet of a diffuser or an air supply system. it also finds applications in hydraulic systems, steam, and gas turbine trains, heating installations, pneumatic control circuits for presses and machine tools, etc. in most cases, they work as part of a series connection with other devices like filters or regulators that maintain constant pressure downstream from it. the major driver for the market growth is the increasing demand for energy efficient products across various industries including hvac systems and petroleum and gas applications.
COVID-19Impact: imposed restrictions in the economy resulted in decline in the market
the covid-19 issue has had an impact on the world economy, resulting in a rigorous lockdown and a halt to day-to-day operations in every industry. the panic scenario has had a severe impact on the industries due to the limitations set by the government. this has resulted in a decline in the market for balance valve; there was a direct and indirect influence from several sectors manufacturing thermostats. with the market's revival following covid-19, we are seeing a recovery of the market where blanks are restructured with product innovation and investments in r&d activities to develop advanced technologies to meet advanced requirements, which will project a proposed increase in market share in the forecasted period.
Latest Trends
"rising awareness in conjunction to the energy conservation to soar up market potentially"
the growing awareness about energy conservation is propelling the growth of this market. the static balance valve segment is expected to dominate the global balance valve market during the forecast period owing to its low cost and easy installation.
Balance Valve Market Segmentation
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- By Type
Based on type the balance valve market is classified as static balance valve, dynamic balance valve and others.
the part static balance valve is the leading part of the type segment.
- By Application
Based on application the balance valve market is classified as petroleum and gas, hvac system and others.
The part hvac is the leading type of the application segment.
driving factors
"growing need in the fire emergencies and requirement in working area to boost the market growth "
The hvac system segment accounted for the largest market share in 2017 and is projected to continue its dominance over the forecast period. this can be attributed to factors such as increasing construction of commercial buildings, rise in air conditioning requirements, and growth of the residential sector. the hvac system segment accounted for the largest market share in 2017 and is projected to continue its dominance over the forecast period. this can be attributed to factors such as increasing construction of commercial buildings, rise in air conditioning requirements, and growth of the residential sector.
"Effective Designing and Operations in Public and Commercial Places to Multiply The Production And Enrich The Market Growth"
the petroleum and gas application segment is also expected to witness significant growth during the forecast period owing to rising demand for balance valves from onshore oil fields as well as offshore platforms. The use of the balance valve in the petroleum and gas industry is very common. it has its primary function as a separator or stabilizerfor safety purposes during natural fluctuations that may occur due to pressure changes. the balance valve, as a pressure-compensated control valve for the petroleum and gas industry, can be used in many different applications. it is also widely used in oil wells to maintain a constant flow by controlling fluctuations that may occur due to uneven pressures or changes in temperature.
Restraining Factors
"The Maintenance Subject to Specific Regulations and Standards to Restrain the Market Growth"
specific laws and standards must be followed for the development, installation, and servicing of balance valve, and these laws and standards may change depending on the jurisdiction. these standards frequently address issues with fan efficiency, power supply, control systems, motor performance, and requirements for routine maintenance and testing. to ensure compliance with applicable laws and choose the right smoke extraction motor system for a particular building or application, it's crucial to get professional advice from experts like fire safety engineers, mechanical engineers, or local authorities. therefore, it's maintenance with reference to specific rule and standards to limit occupational exposure and thus restraining the balance valve market growth.
Balance Valve Market regional insights
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"European American region to dominate the market with major production and multiplying manufacturers"
European region is predicted to be dominant in the balance valve market share and will maintain the dominance over the forecasted period. the European region, followed by china and north America, produces the majority of the world's balance valve, accounting for about large proportion of total production. the European Region is expected to witness steady growth during the forecast period owing to technological advancements and product developments in this region. high-performance valves are offered by the European company with a strong emphasis on technology and research. government organizations at various public and commercial places are inducing the production and generating the market demand. all these factors combined are significantly contributing in the regions market growth.
key industry players
"financial players to contribute towards expansion of market"
the market is highly competitive and has both international and local participants. the introduction of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other strategies include major actors.the report is a thorough investigation of a list of market participants who support market growth. the information is a synthesis of the most recent trends, mergers and acquisitions in the manufacturing industry, market research, and technological advancements. to comprehend the market share, product growth, revenue growth, and other elements during the anticipated term, further factors like regional and segmental analysis are also taken into consideration.
list of market players profiled
- Oventrop (U.K)
- Ksb (Germany)
- Cimberio (Italy)
- Kitz (India)
- Otto (Germany)
- Desn Fluid Control (China)
- Masoneilan (U.S.A)
- Hushan Valve Manufacturing (China)
- Shanghai Shanggao Valve (China)
- Shanghai Julang Valve (China).
report coverage
the swot analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. this section also covers the range of numerous market categories and applications that could potentially affect the market in the future. the specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. the paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. the competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 569.3 Million in 2022 |
Market Size Value By |
US$ 784 Million by 2031 |
Growth Rate |
CAGR of 3.6% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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what value is the balance valve market expected to touch by 2031?
the global balance valve market is expected to reach USD 784 million by 2031.
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what CAGR is the balance valve market expected to exhibit by 2031?
the balance valve market is expected to exhibit a CAGR of 3.6% by 2031.
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which are the driving factors of the balance valve market?
growing need in fire emergencies, the requirement in the working area and effective designing and operations in public and commercial areas are the driving factors of the balance valve market.
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which are the key players functioning in the balance valve market?
oventrop, ksb, cimberio, kitz, otto, desn fluid control, masoneilan, hushan valve manufacturing, shanghai shanggao valve, shanghai julang valve and others are the key players functioning in the balance valve market.
