Valve driver market to grow at CAGR of 4. 3% from 2020 to 2025. The global valve driver market size is expected to grow from USD 421 million in 2020 to USD 519 million by 2025, at a CAGR of 4.
New York, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Valve Driver Market with COVID-19 Impact, by Function, Valve Type, End-User, Region - Global Forecast to 2025" - https://www.reportlinker.com/p05968335/?utm_source=GNW
3%. The growth of this market is mainly driven by Increase in government regulations and policies for saving energy and increase in focus on enhancing efficiency and power consumption. Integration of IIoT technology in industrial valve drivers and increase ind emand of valve drivers in commercial & residential end users provide lucrative opportunities for the players in the valve driver market.
"Expansion valves to grow at highest CAGR during the forecast period
Expansion valve drivers are the drivers for the management of ON/OFF and stepper electronic expansion valves with integrated display.These drivers ensure the sub-cooling of the refrigerant fluid and the superheat adaptive control.
The drivers are used mainly in the heating ventilation and air conditioning or refrigeration (HVAC/R) systems. Furthermore, their primary function is to ensure stable superheat at the required value; these drivers also provide maximum installation flexibility, managing a vast variety of refrigerants in any industry, from small residential heat pumps to large industrial evaporators, as well as air-conditioning units to chillers for air-conditioning or process applications.
Commercial & residential end users to hold a significantly large share of valve driver market by 2025
The increased adoption of HVAC/R systems in the residential segment has led to the growth of the valve drivers market.In situations where the government has set new performance norms to save energy as there focus is to make the machineries or operations more efficient, manufacturers of HVAC/R systems are encouraged to manufacture new versions of those systems, which will increase the demand for the HVAC/R systems.
Thus, driving the growth of the market for valve drivers in residential and commercial end users.
Market in APAC to grow at highest CAGR during the forecast period
The rapid urbanization and industrialization in developing countries, such as China, Japan, and India, growing construction activities, and rising population are the major factors driving the growth of the valve driver market in the region.This, in turn, has led to an increase in demand for valve drivers until 2019.
However, COVID-19, a global health emergency and an economic crisis, which has impacted the growth of the valve driver market in 2020 adversely.The valve driver market is projected to witness a significant decline as a few of the major end-users are adopting valve drivers.
These end users are non-operational due to stringent measures, which include lockdown, restrictions on foreign trade, and a halt in the supply of non-essential products and services taken by several governments across the world as precautionary measures for the safety of people. There is also a huge supply-demand gap due to the decline in global demand.
Breakdown of the profiles of primary participants:
• By Company Type: Tier 1 - 35%, Tier 2 - 50%, and Tier 3 - 15%
• By Designation: C-level Executives - 40%, Directors - 45%, and others - 15%
• By Region: North America - 30%, Europe - 25%, APAC - 40%, and RoW - 5%
Major players profiled in this report are as follows: Danfoss (Europe), Parker Hannifin (US), Emerson Electric Co. (US), Eliwell Controls (Europe), Carel Industries (Europe), MKS Instruments (US), Hydraforce Inc. (US), Hussmann Corporation (US), Sanhua (Spain), and Fujikoki Corporation (Japan).
In this report, the valve driver market has been segmented on the basis of function, valve type, end-user, and region.The valve driver market based on function has been segmented into solenoid and proportional.
Based on valve type, the market has been segmented into conventional control valve and expansion valve.The market for the end-user has been segmented into commercial & residential, industrial (Oil & Gas, Pharmaceuticals, Energy & Power, Metals & Mining, Water & Wastewater, Food & Beverages, and Others), and motion equipment.
The study also forecasts the size of the market in four main regions—North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
The report would help market leaders/new entrants in this market in the following ways:
This report segments of the valve driver market comprehensively and provides the closest approximation of the overall market size and subsegments that include function, valve type, end-user, and region.
The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities pertaining to the valve driver market.
This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business.
The competitive landscape section includes the competitor ecosystem, as well as growth strategies such as product launches, acquisitions, and expansions carried out by major market players.
Read the full report: https://www.reportlinker.com/p05968335/?utm_source=GNW
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