HVAC Valve Market Report Overview
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The global HVAC valve size is anticipated to be USD 5.4727 billion in 2022 and is projected to touch USD 7.3254 billion by 2028, exhibiting a CAGR of 4.3% during the forecast period.
HVAC stands for heating, ventilation and air conditioning. An HVAC system is installed in commercial and residential units which keeps the indoor temperature and air quality in check. The HVAC valve regulates the flow in the pipe. The design structure might get complicated and automation is required to control the transfer of fluids or refringent. HVAC valves play a crucial role in the system and are available in different types customized for various applications.
In the contemporary world, the construction industry and real estate are booming at an unprecedented rate. The raised consciousness of the people and government is paving the demand for green homes. Continuous innovations and implementation of advanced machinery are being taken place to revamp the infrastructure and improve the quality of living.
COVID-19 Impact: Frequent Lockdowns to Hamper the Product Sales
The global COVID-19 pandemic has been unprecedented and staggering, with the HVAC valve experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
COVID-19 created worldwide turmoil and affected major businesses and industries. The spike in cases resulted in frequent lockdowns and shutting down of borders. The focus shifted to prioritizing the healthcare sector and the development of the vaccine. The construction sector witnessed a slow-down phase due to the sudden halt in the work, lack of raw materials, and human resources and reduced funding. As a result, the HVAC valve market suffered during the pandemic times owing to the reduced demand from the end user market. However, as the normalization phase begins the market is set to bounce back due to the increased demand from the industrial sector.
LATEST TRENDS
"Rising Popularity of Green Home Projects to Boost the Product Demand "
Sustainable living has become a norm and is widely adopted by the government to decrease environmental degradation. The globalization and implementation of modern devices have been the cause of the emission of harmful gases into the air. The traditional and outdated systems are power-consuming and not environmentally friendly. The idea of a green home is becoming popular as an eco0frindly choice. The HVAC valve improves the air quality, and low energy consumption and regulates the indoor temperature. The rise of commercial green homes will boost the HVAC valve market.
HVAC Valve Market Segmentation
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- By Type
Based on type, the market is divided into ball valves, globe valves, butterfly valves, and others. the ball valves segment will capture the major market share through 2028.
- By Application
Based on the application, the market is divided into residential, commercial and industrial. The residential segment will hold the maximum share through 2028.
DRIVING FACTORS
"Increased Demand for Improved Infrastructure to Boost the HVAC Valve Demand"
All the nations are focusing on national building thus the appalling need to recondition the existing infrastructure. The start of the 21st century witnessed the foundation of world-class commercial or residential hubs with the integration of advanced technology. The developed countries are striving to stimulate their economic growth and enhance their living standard. The construction industry is prospering owing to government initiatives and continuous funding and high consumer demand. Real estate has boomed in recent years and the sprawling numbers of high-rise buildings and luxurious properties is a prove. The increase in purchasing power and consumerist culture and the rapid rise in industrial spaces contributed to the HVAC valve market growth. Moreover, the continuous up-gradation and replacement of worn-out valves with the latest HVAC valve driving the market share. HVAC valves are extensively used in residential and commercial buildings to regulate temperature and humidity. HVAC valve potential to improve energy efficiency. The construction industry is striving to implement the latest developed devices and the HVAC valve solves the problem of air quality as it provides high indoor air quality, ventilation and air conditioning. Moreover, the incorporation of the latest technology to cut costs and increase efficiency accompanied by upscale urbanization is anticipated to drive the HVAC valve in the forecasted year.
"Diverse Application and Industrial Growth to Accelerate the Product Sale"
The board application across many industries is paving the way for the HVAC valve market size in the upcoming years. Not only the application is limited to commercial or residential buildings but also in industries such as oil and gas, food processing and defence manufacturing. The recent boom and demand from the oil & gas sector are driving the HVAC valve market growth. Valves play a crucial role in the installation of piping system as it regulates the flow rate, pressure control and the refining process of crude oil. The improvement of the oil and gas market and the high consumer of natural gas in recent times will expedite the product demand. The pandemic exposed the vulnerability of the healthcare system and the need to revamp the healthcare industry. The government and public initiatives and large-scale investments will increase the HVAC valve market share. It is used in the food processing industry and defence manufacturing sector. The various industrial usage of HVAC valves is expected to drive the market in the forthcoming years.
RESTRAINING FACTORS
"High Installation Cost to Hamper the Product Sale"
The expensive installation and replacement cost is a major concern for the HVAC valve market growth. Although, it is cost-effective in the long run, however, the high installation poses a challenge for short and medium-scale businesses and buildings plan. Moreover, the availability of other technologically advanced devices and products in the market can be a restraining factor for market growth. It requires proper maintenance and consumes high power. An increase in cases of system failure is posing a threat to the HVAC valve market.
HVAC Valve Market Regional Insights
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"North America to Dominate the Market due to Advanced Infrastructure "
North America has developed advanced infrastructure with the incorporation of modern technologies. The construction sector is expected to witness an unparallel growth in the upcoming years. The increased demands have created new opportunities in the market. The rise in the consumer demand for heavy building materials, equipment and machinery accompanied by large capital investment is promoting the growth of the HVAC valve market in this region.
Asia Pacific will have a substantial gain and China is expected to lead this segment. The Asia Pacific countries are developing nations with growing infrastructure and huge market demand. The rise in capital investment and the presence of key players is another leading factor driving the HVAC valve market in this region.
KEY INDUSTRY PLAYER
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Honeywell (U.S)
- Johnson Controls (U.S)
- Schneider Electric (France)
- Siemens (Germany)
- Belimo (Switzerland)
- Danfoss (Denmark)
- Pentair (U.S)
- AVK (U.K)
- Flowserve (U.S)
- Mueller Industries (U.S)
- Samson (Germany)
- Taco (U.S)
- Bray (U.S)
- Nexus (U.S)
- IDC (U.S)
REPORT COVERAGE
This report covers the analysis of the HVAC valve providing a comprehensive market insight considering the existing key players who would play a crucial role in the forecasting period. It also analyses based on segmentation, industrial developments, trends, growth, size, share, restraints and revenue. The report covers an overview of the latest driving factor in the industry, dominant region, latest innovations and opportunities.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 5.4727 Billion in 2022 |
Market Size Value By |
US$ 7.3254 Billion by 2028 |
Growth Rate |
CAGR of 4.3% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the global HVAC Valve expected to touch by 2028?
The global HVAC valve is expected to reach USD 7.3254 billion by 2028.
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What CAGR is the HVAC valve market expected to exhibit by 2028?
The HVAC valve market is expected to exhibit a CAGR of 4.3% by 2028.
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Which are the driving factors of the HVAC valve market?
The increased demand for improved infrastructure and diverse applications and industrial growth are the driving factors of the HVAC valve market.
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Which are the top companies operating in the HVAC valve market?
Honeywell, Johnson Controls. Schneider Electric, Siemens, Belimo, Danfoss, Pentair, AVK, Flowserve, Mueller Industries, Samson, Taco, Bray, Nexus, and IDC are the key company operating in the HVAC valve market.
