Coolant Control Valves Market Size, Share, Growth, and Industry Analysis, By Type (2 Way, 3 Way, Others), By Application (Passenger Cars, Commercial Vehicles) and Regional Insights and Forecast to 2031

Updated On: 08 April 2024

COOLANT CONTROL VALVES MARKET REPORT OVERVIEW

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The global coolant control valves market size was USD 191.4 million in 2022, and the market is projected to touch USD 448.12 million by 2031, exhibiting a CAGR of 9.9% during the forecast period.

The coolant flow control valve is a valve that regulates the flow of coolant in the system. The importance of refrigerant flow control valves is that they help maintain the proper temperature of systems by regulating the flow of refrigerant. It controls the amount of coolant passing through the system. It can be used to prevent overheating or overheating and maintain the correct engine oil temperature.

The growth of the market is driven by the increase in demand for passenger cars and commercial vehicles and the growing need for fuel-efficient vehicles. The electrical segment is expected to grow at a higher CAGR than the hydraulic segment during the forecast period. Increasing automation in various process areas along with increasing investments in the oil and gas industry and high capacity requirements are expected to drive the control valve market in the forecast years.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

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 market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic resulted in disruptions to supply chains, manufacturing operations, and retail businesses, leading to reduced consumer spending and demand for non-essential items like wardrobes. Lockdowns and social distancing measures also limited shopping opportunities, further affecting sales and distribution channels. As a result, the coolant control valves market experienced a decline in demand and revenue during the pandemic. While the market may eventually recover as the situation improves, the immediate impact of COVID-19 was predominantly negative for the global market.

LATEST TRENDS

"Electric Spring Control Valves To Encourage Market Growth "

One of the main market drivers is the focus of renewable energy projects. The rapidly increasing number of solar thermal power plants has increased the applications of control valves. However, inefficient logistics and delivery systems across the globe are expected to hamper the check valve market. Advances in sensor and valve technology have enabled manufacturers in the power supply industry to improve their production capacity, reducing total equipment costs, maximizing uptime and reducing maintenance costs. With the emphasis on renewable energy projects, which has led to a sharp increase in the number of solar thermal power plants, the use of control valves has also increased in several regions. The demand for renewable energy projects is also driven by a highly skilled and empowered workforce with many financing options.

COOLANT CONTROL VALVES MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into 2 Way, 3 Way, Others. Two-way valves have two ports that allow coolant to flow in one direction or close completely.

• By Application

Based on application the global market can be categorized into Passenger Cars, Commercial Vehicles. The passenger car class will dominate the market. This segment includes cars, SUVs and other vehicles designed primarily for passenger transport. The demand for fuel-efficient and fuel-efficient engines for passenger cars is driving the engine valve market in this segment.

DRIVING FACTORS

"Rapid Expansion Of Industrial Sectors Will Foster The Market Growth"

The rapid expansion of industrial sectors, especially in emerging economies, has a significant impact on the coolant control valves market growth. As these industries grow, they need valves for various applications such as manufacturing, oil and gas exploration, and power generation. Valves play a vital role in controlling and regulating fluid flow in these areas. The increasing demand for valves in these sectors is driving the growth of the valve market, making it an important part of the overall development of the industry and expansion of infrastructure. The growing trend of automation in various industries has led to the demand for valves that can be effectively integrated into automated systems. These valves must be equipped with advanced controls and automation features to operate smoothly in automated processes. They should be able to respond to signals from automated systems, regulate fluid flow and perform certain tasks without human intervention. Valves that enable efficient and reliable automation are likely to be in high demand as the industry seeks to optimize operations, improve efficiency and reduce manual requirements.

"Increasing Integration Of Advanced Technologies To Expand The Market"

There are a number of emerging trends in the global passenger car coolant control valve market. First, the demand for electric vehicles is increasing, which increases the need for coolant control valves in these vehicles. Second, the integration of advanced technologies such as the Internet of Things and artificial intelligence into refrigeration control valves will improve their efficiency and effectiveness. In addition, we are moving towards the development of lightweight and compact coolant control valves to improve fuel efficiency and reduce emissions. In addition, manufacturers are focusing on developing environmentally friendly refrigerant control valves that do not contain harmful substances.

RESTRAINING FACTORS

"Lack of Standardized Certifications And Government Policies Impede Market Growth"

Valve manufacturers must adhere to certain standards and regulations. Different regions have different certifications and practices for valves. This factor creates diversity in demand as valves are widely used in various industries such as oil and gas, food and beverage, pharmaceuticals, energy and electricity, water and wastewater treatment,  construction, chemicals and pulp and paper. However, this diversity slows down the growth of the control valve market because industrial parties have to modify the same product according to regional policies, making it difficult for valve manufacturers to achieve ideal installation costs. To solve this problem, they need to invest resources to build production facilities around the world, which requires additional capital.

COOLANT CONTROL VALVES MARKET REGIONAL INSIGHTS

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"Asia Pacific Region Dominating The Market Due To Increase In Car Production"

Asia Pacific has emerged as the most dominant region in the global coolant control valves market share due to several factors. Asia Pacific dominated the global market in terms of revenue share in 2019 and is expected to continue to dominate the market during the forecast period. Significant growth is also predicted for the region in 2020-2030. This is due to the increase in car production, especially in China and India. In addition, regional growth is fueled by increasing demand for passenger cars in emerging economies such as India and China.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The coolant control valves market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Rheinmetall Automotive (Germany)
• Vitesco Technologies(Germany)
• MIKUNI (Japan)
• Bosch (Germany)
• SANHUA (China)
• Voss (U.K.)
• Dorman (U.S.)
• Rotex Automation (India)

INDUSTRIAL DEVELOPMENT

February 2020: Curtiss-Wright Corporation has entered into an agreement to purchase the shares of Dyna-Flo Control Valve Services (Dyna-Flo). Dyna-Flo Control Valve Services (Dyna-Flo) is one of the leading designers and manufacturers of linear and rotary control valves, isolation valves, actuators and level and pressure control systems in chemicals, petrochemical products and oil and gas markets.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.