Demand For Pressure Reducing Valves Is Anticipated To Soar At A Robust 4.5% CAGR Over The Forecast Period: FMI

According to FMI, the global Demand For Pressure Reducing Valves is valued at US$ 1,998.1 million in 2022 and is expected to grow at a steady CAGR of 4.5 percent to reach US$ 2,588 million by the end of 2028.

The analysis predicts that over time, there will be an increase in demand for pressure reducing valves. Growing investments in the oil and gas and chemical sectors are anticipated to be the main drivers of the expansion of the global Demand For Pressure Reducing Valves.
Among the product type segments, the pilot operating segment is expected to expand at a significant CAGR, in terms of value, over the forecast period. Among the operating pressure segments, the above 800 Psig segment is anticipated to witness a high CAGR, in terms of value, over the forecast period in the pressure reducing valve market.

The chemicals segment is expected to hold a major share in terms of value among the end-use industry segments in the global pressure reducing valve market due to the increasing demand for chemicals from various applications.

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The global Demand 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 the 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 about pressure reducing valves, which include ASME and JIS.

Prominent manufacturers are involved in the introduction of pressure reducing valves while adhering to international regulations and certifications to enhance their presence in the market. There is expected to be one of the key trends identified in the global pressure reducing valve market.

Segmentation Analysis
• based on product type, the direct-acting segment is anticipated to dominate the pressure reducing valve market over the forecast period

• based on 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

• based on 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

• based on application, gas and liquid segments, together, are expected to create an incremental opportunity1.7X that of the steam segment in the global pressure reducing valve market

• based on the end-use industry, the chemical segment is pegged to remain dominant in the global pressure reducing valve market throughout the forecast years

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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. Their 67 years of experience in the Hydronics and plumbing industries bring a wealth of technical knowledge and services to their customers.

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Key Segments Covered in Pressure Reducing Valve Industry Survey

Pressure Reducing Valve Market by Material Type

• Cast Steel Pressure Reducing Valve
• Stainless Steel Pressure Reducing Valve
• Carbon Steel Pressure Reducing Valve
• Cast Iron Pressure Reducing Valve
• Ductile Iron Pressure Reducing Valve
• Bronze Pressure Reducing Valve

Pressure Reducing Valve Market by Operating Pressure

• 50-200 Psig Pressure Reducing Valve
• 201-500 Psig Pressure Reducing Valve
• 501-800 Psig Pressure Reducing Valve
• Above 800 Psig Pressure Reducing Valve

Pressure Reducing Valve Market by Application

• Gas Pressure Reducing Valve
• Steam Pressure Reducing Valve
• Liquid Pressure Reducing Valve

Pressure Reducing Valve Market by End-Use Industry

• Pressure Reducing Valve for Power Generation Industry
• Pressure Reducing Valve for Pharmaceutical Industry
• Pressure Reducing Valve for Pulp & Paper Industry
• Pressure Reducing Valve for Chemical Industry
• Pressure Reducing Valve for Food & Beverages Industry
• Pressure Reducing Valve for Oil & Gas Industry
• Pressure Reducing Valve for Other Industries

Pressure Reducing Valve Market by Product Type

• Direct Acting Pressure Reducing Valve
• Pilot Operating Pressure Reducing Valve

Pressure Reducing Valve Market by Region

• North America Pressure Reducing Valve Market
• Latin America Pressure Reducing Valve Market
• Europe Pressure Reducing Valve Market
• East Asia Pressure Reducing Valve Market
• South Asia & Pacific Pressure Reducing Valve Market
• the Middle East & Africa Pressure Reducing Valve Market

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

This release was published on openPR.