Future Market Insights delivers key insights on the global pressure reducing valve market in its latest report titled ‘Pressure Reducing Valve Market: Global Industry Analysis 2013–2021 and Opportunity Assessment 2022-2028’. The long-term outlook for the global pressure reducing valve market remains positive with the market value expected to grow at a CAGR of 4.3% during the forecast period (2022 – 2028).
The pilot operating segment, among the product type categories, is predicted to grow at a considerable CAGR in terms of value over the projection period. In the pressure-reducing valve market, the above 800 Psig operating pressure category is expected to grow at a high CAGR in terms of value over the forecast period.
Request Sample@
https://www.futuremarketinsights.com/reports/sample/rep-gb-3784
Because of the increasing demand for chemicals from various applications, the chemicals segment is likely to retain a significant position in terms of value among the end-use industry segments in the worldwide pressure lowering valve market.
The global market for pressure reducing valves is estimated to be valued at US$ 1,701.6 Mn by the end of 2022 and is expected to witness a Y-o-Y growth rate of 4.3% over the forecast period. China is estimated to account for a significant value share in the global pressure reducing valve market by 2022 end and is anticipated to remain dominant throughout the forecast period in the pressure reducing valve market.
The pressure reducing valve market has been experiencing significant growth for years now, particularly in Middle East & Africa, India and China. The growing demand for oil & gas, chemicals and power across GCC Countries and India is contributing to the substantial demand for pressure reducing valves in these regions.
However, the global pressure reducing valve market is expected to face certain challenges. Manufacturers have to follow certain regulations pertaining to pressure reducing valves, which include ASME and JIS.
Prominent manufacturers are involved in the introduction of pressure reducing valves while adhering to the international regulations and certification in order to enhance their presence in the market. These is expected to be one of the key trends identified in the global pressure reducing valve market.
Segmentation Analysis
- On the basis of product type, the direct acting segment is anticipated to dominate the pressure reducing valve market over the forecast period
- On the basis of material, the ductile iron segment is expected to register the highest growth, in terms of volume as well as value, in the global pressure reducing valve market over the forecast period
- On the basis of operating pressure, the 50-200 Psig segment is expected to account for more than 2/5thof the overall incremental opportunity created in the global pressure reducing valve market during the forecast period
- On the basis of application, gas and liquid segments, together, are expected to create an incremental opportunity1.7X that of the steam segment’s in the global pressure reducing valve market
- On the basis of end-use industry, the chemical segment is pegged to remain dominant in the global pressure reducing valve market throughout the forecast years
Regional Analysis
Western Europe and China together are estimated to have collectively accounted for more than 2/5th of the overall share in the global pressure reducing valve market by the end of 2017. The Middle East & Africa region is a key production base for the oil & gas industry and thus the region is expected to create significant growth opportunities in the global pressure reducing valve market.
Vendor Insights
The report highlights some of the top companies operating in the global pressure reducing valve market such as Watts Water Technologies, Inc., Spirax Sarco Engineering plc, TLV, Itap Spa, Caleffi S.p.a., HAWE Hydraulik SE, Yoshitake Inc., Genebre, HYDAC, Forbes Marshall, CIRCOR International, Inc., Armstrong International Inc. and Fushiman Co., Ltd.
Competitive Landscape
The global pressure reducing valve market is most fragmented, with no players holding double-digit market share. Globally, the top 5 players in the market collectively hold between 15-20% of the market share. Manufacturers are investing in the research & development of new valves as per changing industry standards across multiple industry verticals.
- For instance, In September 2021, Caleffi North America announced The Socha Company as its representative for the State of New Mexico and El Paso County, Texas. The new rep will sell and support Caleffi’s line of engineered components. With their 67 years of experience in the Hydronics and plumbing industries, they bring a wealth of technical knowledge and services to their customers.
Request For Customization@
https://www.futuremarketinsights.com/customization-available/pressure-reducing-valve-market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
The post Growth & Demand for Pressure Reducing Valves Market by End-Use Industries | Power Generation, Chemical, Pulp & Paper, Oil & Gas Industries appeared first on Future Market Insights.
