HVAC valves: Key market highlights
- The market growth is stimulated by the increased spending in infrastructure
- The ball valves segment accounts for majority of the revenue
- Key vendors—Flowserve, Honeywell, Johnson Controls, Pentair, and Schneider
Technavio’s market research analysts estimate the global HVAC valves market to grow at a CAGR of almost 6% between 2016 and 2020. The market is driven by the increase in spending on construction activities. The rapid expansion of the construction sector in Southeast Asian countries, the Middle East, and the US are prompting builders and governments to spend increasingly on infrastructure to build new shopping centers, hotels, and hospitals that offer comfortable and luxurious air-conditioned environment. In 2015, the APAC region dominated the global heating, ventilation and air conditioning (HVAC) valves market by accounting for almost 51% of the overall market share. The growth of the market in this region is augmented by rising investments in the real estate sector in this region. Indonesia and the Philippines are likely to emerge as the most interesting markets for the construction sector by 2020.
The new market research report from Technavio presents a breakdown and analysis of the HVAC valves segment by type.
“The decline in the prices of raw materials such as stainless steel, cast iron, and bronze is the latest trend in the market. This drop in the price of raw materials increases the profit margin for vendors and manufacturers. The production rates of HVAC valves are likely to grow by 2020 due to the increase in the profit margins of vendors and the growing demand across several industries,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
Currently, the ball valves segment dominated the global HVAC valves market by occupying more than 31% of the overall market share. This segment is flourishing currently as ball valves are cheaper than globe valves and provide an easy open-and-close option. Furthermore, they provide a multi-way design flexibility and lower pressure drop as compared to globe valves thereby boosting growth of the ball valves market across the globe by the end of the forecast period.
The key vendors in the global HVAC valves market include Flowserve, Honeywell, Johnson Controls, Pentair, and Schneider. The market is highly fragmented with the large multinational companies and several small and medium-sized players. The key providers in the market provide customized services and solutions to the customers to maintain a loyal customer base. These players are resorting to strategic acquisitions to enhance their product offerings, fulfill market requirements, and extend their geographical presence.
A more detailed analysis is available in the Technavio report, Global HVAC Valves Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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