Cartridge Valve Market Size, Share, Growth, And Industry Analysis By Type (Screw-in Cartridge Valve, Slip-in Cartridge Valve) By Application (Construction Machinery, Material Handling Equipment, Agricultural Machinery and Others) Regional Forecast to 2028

Updated On: 13 March 2023

Report Overview

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The global cartridge valve market size was USD 1.395 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the cartridge valve market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 1.695 billion in 2028, exhibiting a CAGR of 3.3% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Commercial hydraulic valves called cartridge valves often referred to as 2/2-way valves, serve the purpose of directional, pressure, check, and flow control. A control valve known as an "industrial cartridge valve" can stop and start a liquid circulation line. Cartridge valves are directional control valves with two positions; as a result, four of these valves are required to control the course. These tiny cartridge valves could be utilized in hydraulic manifold processes for several different kinds of mobile and industrial machines. These goods are perfect for applications that necessitate high flow rates and leak-free control.

Compressed hydraulic systems identified as integrated hydraulic circuits are created by putting numerous cartridge valves and other parts into a unified, machined, ported manifold block. These cartridge valves are compact in size and with swift switching times. Cartridge valves are utilized in motion control and fluid power systems due to their affordability. Cartridge valves have a wide range of uses due to their generalization. Owing to their affordable and aesthetic design, they are ideal for both general and specialist systems and are present in the most of major sectors.

COVID-19 Impact: Market Experienced Decline Due To Halt In Production

The COVID-19 was an unanticipated event that had a significant impact on our society. Workers were laid off, enterprises were shut down, and lives were lost. Lockdown was imposed on nations, which resulted in the closure of industry and restrictions on the flow of goods and services. Additionally, the continued lockdown restrictions had a negative impact on the global supply chain. The gathering of raw resources to sustain manufacturing activity was challenging during such trying times. As a consequence, the market was severely constricted and the demand for cartridge valves was not met.

Latest Trends

"Expansionary Industrial Sector To Contribute To The Market Demand"

Manufacturing has been one of the industries with the fastest expansion rates, which is anticipated to help the cartridge valves market expand as well. For a production process, speed, efficiency, and compact design are essential. Cartridge valves make it possible to create extremely dependable, low-cost circuits. Cartridge valves are widely utilized in many industrial sectors, including oil and gas, electrical and electronics, and automotive, to mention a few, since they are lightweight, simple to operate, leak-resistant, and economical. As a result, the market for cartridge valves is anticipated to expand throughout the given year.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Screw-in Cartridge Valve and Slip-in Cartridge Valve. Screw-in cartridge valve holds the major market share by type segment.

• By Application Analysis

Based on application, the market can be divided into Construction Machinery, Material Handling Equipment, Agricultural Machinery and Others. The dominating segment by application is construction machinery.

Driving Factors

"Compact And Intelligent Design To Drive Up The Market Demand"

Due to the widespread use of hydraulic systems in sectors like mining, construction, and oil & gas, and cartridge valves are a crucial part of the majority of hydraulic systems owing to their small size, clever design, and affordability. The primary potential uses for cartridge valves downstream are in agricultural machinery, material handling equipment, and construction machinery. It has evolved into an integral part of many industries due to its design and greater utility. Thus, it is anticipated that the market for cartridge valves will expand during the given time frame.

"Growth In Construction Sector To Propel The Market Demand"

The cartridge valve market is primarily being propelled by a rise in the demand for construction equipment globally. The cartridge valves market is being driven by the continued growth of the building and construction industry. Construction equipment uses cartridge valves to achieve the intended functional performance. Cartridge valves are crucial to the hydraulic operations of excavators, loaders, and dump trucks. The consumption of construction machinery is driven largely by the expansion of the construction sector. Therefore, the cartridge valve market share is anticipated to be propelled by the construction sector.

Restraining Factors

"Persistent Maintenance Requirement To Impede The Market Demand"

The cartridge valve needs to be maintained meticulously to ensure proper operation. Consumers may be prompted to explore for alternatives due to the expense of maintenance and the nuisance of routine maintenance. Therefore, since cartridge valves must be maintained often, sometimes as frequently as once per month, frequent maintenance might raise the overall cost of cartridge valves. This may serve as a restraint on the cartridge valve market growth.

Regional Insights

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"Europe Is the Largest Region Due To Its Developed Market "

North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa constitute the regions that make up the global market for cartridge valves. Owing to its advanced capital economy and industries, among them, Europe is the largest and leads the cartridge valve industry. North America is the second-largest market for cartridge valves after Europe, and it is anticipated that its market share will increase during the forecast period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• HydraForce (U.S.)
• Sun (U.S.)
• Parker (U.S.)
• Bosch-Rexroth (Germany)
• Eaton (Ireland)
• Bucher (Switzerland)
• Comatrol(Danfoss) (U.S.)
• Moog (U.S.)
• Hydac (Germany)
• Delta (U.S.)
• Walvoil (Italy)
• Hawe (Germany)
• YUKEN (Japan)
• Taifeng (China)
• Keta (U.S.)
• Haihong Hydraulics (China)
• Atos (France)
• Koshin Seikosho (Japan)
• CBF (U.S.)
• SHLIXIN (China)
• Hoyea (China)
• HUADE (China)

 Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.