Increasing Adoption Across The Oil & Gas Industry Is Driving The Pressure Reducing Valve Market.
Globally, the pressure-reducing valve market is expected to grow with a CAGR of 4.2% through the forecast period, up from US$1.50 Bn in 2018. The growth of the market is attributed to the increasing adoption of pressure-reducing valves across a wide range of applications across several industry verticals.
The valves are widely used to maintain and relieve the pressure of gases and fluids. The valve reduces the frequency of the unstable pressure and maintains a constant pressure via a spring mechanism.
Furthermore, the demand for pressure-reducing valves is driven by their ability to operate in harsh industrial environments. The growing demand across industrial facilities to monitor the performance of the valve is driving the market growth. Additionally, the growing automation across industrial facilities and the integration of IoT devices are further accelerating the demand for the pressure-reducing valve market.
Market Synopsis
Steam Application Dominates the Pressure Reducing Valve Market
The steam application sector was the leading sector in the pressure-reducing valve market in 2018, with a majority share of 38% of the revenue. The increasing application of pressure-reducing valves in the steam application due to their capability to control pressure fully automatically with no external power source is driving the market's growth. At the same time, the liquid segment is projected to grow at a substantial rate due to the wide-scale adoption of valves in wastewater management applications.
North America Led the Pressure Reducing Valve Market
North America led the pressure-reducing valve market with over 35% of the revenue in 2018. The large-scale adoption of the pressure-reducing valve across the oil and gas industry in the region is supporting market growth.
The increasing automation in the oil and gas industry in the region is developing numerous opportunities for the growth of the market. Furthermore, the presence of large power generation plants also supports the growth of the market in the region.
The major players in the pressure-reducing valve domain are Armstrong International Inc., Caleffi S.P.A., CIRCOR International Inc., Forbes Marshall, Fushiman Co. Ltd., Genebre SA, HAWE Hydraulik SE, HYDAC, Spirax Sarco Engineering PLC, TLV, Itap Spa, Watts Water Technologies, Inc., and Yoshitake Inc.
Historical and Forecast Period
This research report presents the analysis of each segment from 2017 to 2027,considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The pressure-reducing valve market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global pressure-reducing valve market based on material, pressure, application, industry verticals, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the size of the market for pressure-reducing valves in 2018 and the forecast up to 2027?
Which is the largest regional market for pressure-reducing valves?
What are the major trends followed in the pressure-reducing valve market across different regions?
Who are the key companies in the pressure-reducing valve market?
What are the key strategies adopted by the leading pressure-reducing valve companies in the market?
Unique data points of this report
Statistics on pressure-reducing valves and spending worldwide
Recent trends across different regions in terms of the adoption of pressure-reducing valves for industry verticals
Notable developments are going on in the industry.
Attractive investment propositions for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
Frequently Asked Question:
The market for Pressure Reducing Valve Market is expected to reach USD$ 1.50 Bn in 2027.
The Pressure Reducing Valve Market is expected to see significant CAGR growth over the coming years, at 4.2% .
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Caleffi S.P.A., CIRCOR International Inc., Forbes Marshall, Fushiman Co. Ltd., Genebre SA, HAWE Hydraulik SE, HYDAC, Spirax Sarco Engineering PLC. are some of the major players in the global market.
