Hydronic Balancing Valves Market Report Overview
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The global hydronic balancing valves market size was USD 875.5 million in 2021 and is projected to touch USD 1383.02 million by 2031, exhibiting a CAGR of 4.7% during the forecast period.
Hydronic balancing valves are also known as hydraulic balancing valves. It is a process of optimizing the water distribution in a building’s cooling or hydronic heating system by equalizing the pressure of the system to offer the intended indoor climate at optimum energy efficiency and minimum operating costs. Heating or cooling devices require a specific flow, also called the design flow. It delivers accurate hydronic performance and control and is well-suited for use on tap water applications or on secondary sides in cooling and heating system.
It is used in an HVAC system to let the valves balance the water flow. It is used to create a balanced water flow with the help of standard control valves. There are two types of hydronic balancing valves heating and cooling. It offers the correct power output cooling or heating devices that require a particular flow, known as design flow. Hydronic balancing is accessible in small heating systems due to the small number of relatively simple and terminal unit distribution networks. It also measures the differential pressure and adjusts them to correct the value by calculating the water flow.
COVID-19 Impact: Shut Down Of Construction Activities Retarded Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with hydronic balancing valves experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to hydronic balancing valves market growth and demand returning to pre-pandemic levels once the pandemic is over.
The epidemic affected every market, which had a long-lasting impact on its expansion. The rapid pandemic had an impact on the market in a number of ways, including a decrease in demand, manufacturing, and shipping. In the global hydronic balancing valves market, there have been significant upheavals. The market experienced a decline in manufacturing, supply, and demand. Due to decreased production and supply of the product, the machinery and equipment sector also saw a decrease in growth. The market's growth rate was affected by the market's slow demand-supply balance.
LATEST TRENDS
"Rising Environmental Awareness to Surge Maximum Growth"
The population’s awareness regarding the environment is increasing, which increases the adoption of eco-friendly products. The environmental issues increased in recent years. The rapid adoption of eco-friendly systems and products is expected to boost the energy-efficient product market. The construction of new buildings will escalate the demand for the product. Various government policies to adopt products that cause no harm to the environment to propel the product demand. Moreover, the pressure of achieving infrastructures with zero carbon buildings is rising, which is estimated to drive hydronic balancing valves market growth.
Hydronic Balancing Valves Market Segmentation
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- By Type Analysis
By type, the market is segmented into static balancing valves and dynamic balancing valves.
- By Application Analysis
Based on application, the market is classified into residential, commercial, and industrial.
DRIVING FACTORS
"Rising Awareness of Energy Consumption to Foster Growth"
The hydronic balancing valves consume less power which results in fewer energy expenses coupled with rising comfort of the occupant in cooling and heating hydronic valves. It also enables optimal results due to the less amount of required cooling and heating coils. Additionally, it has high longevity and control authority that allows it to reduce the quantity of the movement. It also eliminates the circumstances of water overflow at partially loaded conditions. Moreover, it reduces the maintenance cost. These factors are anticipated to aid hydronic balancing valves market growth.
"Rising Urbanization to Propel Product Demand"
The market for hydronic controls is mostly reliant on hydronic systems. Due to the global construction boom, there is a rise in demand for hydronic balancing valves. There is an enormous demand for hydronic controls as a result of rising urbanization. The market for hydronic systems and controls is expanding in the global market as a result of anticipated projects including smart cities, bullet trains, and infrastructure development. Urbanization and population increase fuel the market for hydronic systems, which eventually fuels the demand for hydronic controls.
RESTRAINING FACTORS
"Lack of Skilled Staff to Hamper the Market Growth"
Hydronic balancing valves require skilled and trained personnel to ensure the smooth working of the system. Proper usage of the system offers a longer life span. Trained personnel also need to upgrade and monitor the infrastructure of the systems. Additionally, the availability of proprietary building automation systems may create problems for users as they can only be repaired by the service technicians of the system vendors. The shortage of experts may limit the hydronic balancing valve hydronic balancing valves market growth.
Hydronic Balancing Valves Market Regional Insights
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"North America to Dominate the Market Due To Rising Construction and Renovation Activities"
North America is estimated to lead the global market owing to the constant growth of the renovation and construction industries. The growth is attributable to the rising adoption of IoT in smart housing. Additionally, the government's regulations for environmental safety are also anticipated to foster maximum growth in the region.
Asia Pacific is forecasted to hold a significant contribution to the hydronic balancing valves market share due to the rising awareness about global warming and energy conservation.
KEY INDUSTRY PLAYERS
"Key Companies Emphasize On Adopting Organic and Inorganic Strategies to Grow "
The market is made of various sized companies. The global market players are adopting organic and inorganic strategies to grow in the global market consistently. The key companies are also focused on expanding their product portfolio by launching advanced products in the market. The competitors are likely to target the regional market to enhance their sales. The competitors emphasize research and development of the machinery and equipment sector to launch other advanced products. The manufacturers are focused on increasing the sustainability and cost of the product. The key competitors are striving for various growth strategies to gain market share.
List of Market Players Profiled
- Danfoss (Denmark)
- Oventrop Corporation
- IMI Hydronic (U.K.)
- Honeywell International (U.S.)
- Caleffi Spa (Italy)
- Siemens (Germany)
- Frese A/S (Denmark)
- Crane Co (U.S.)
- I.V.A.R. S.p.a. (Italy)
- Belimo (Switzerland)
- Comap Group (France)
- FlowCon International/Griswold (Denmark)
- Johnson Controls (Ireland)
- Watts (U.S.)
- Xylem (U.S.)
- Schneider (France)
- Tiger Controls (U.S.)
REPORT COVERAGE
The study provides precise data on market insights. It provides an examination of a competitive advantage that is thought to be important for the development of business strategy. The paper outlines several avenues for the sector's expansion and development. The report's market segmentation covers the essential elements of the industry with a variety of growth possibilities, a competitive environment, and the growth strategies of the leading key players. The market study focuses on different development prospects and the variables that can constrain market growth. The major industry participants and their corporate headquarters are also represented in this market analysis. The research provides a thorough understanding of the market.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 875.5 Million in 2021 |
Market Size Value By |
US$ 1383.02 Million by 2031 |
Growth Rate |
CAGR of 4.7% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type & Application |
Frequently Asked Questions
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What value is the hydronic balancing valves market expected to touch by 2031?
Based on our research, the hydronic balancing valves market is projected to touch USD 1383.02 million by 2031.
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What CAGR is the hydronic balancing valves market expected to exhibit by 2031?
The hydronic balancing valves market is expected to exhibit a CAGR of 4.7% by 2031.
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The hydronic balancing valves market is expected to exhibit a CAGR of 4.7% by 2028.
By type, the hydronic balancing valves market is segmented into static balancing valves and dynamic balancing valves. Based on application, the market is classified into residential, commercial, and industrial.
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Which are the driving factors of the hydronic balancing valves market?
Rising awareness of energy consumption to foster growth and the rising urbanization to propel product demand are the factors driving the hydronic balancing valves market.
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Which are the top companies operating in the hydronic balancing valves market?
Danfoss, Oventrop Corporation, IMI Hydronic, Honeywell International, Caleffi Spa, Siemens, Frese A/S, Crane Co, I.V.A.R. S.p.a., Belimo, Comap Group, FlowCon International/Griswold, Johnson Controls, Watts, Xylem, Schneider, and Tiger Controls are the top companies operating in the hydronic balancing valves market.