FMI reveals that the global pressure reducing valve market enjoys a valuation of US$ 1,998.1 Mn in 2022, and is predicted to expand at a steady CAGR of 4.5% and reach a net worth of US$ 2,588 Mn by the end of 2028.
According to the analysis, the demand for pressure reducing valves is expected to keep increasing over the years. Growing investments in the oil & gas and chemical industries are expected to be the key factors assisting the growth of the global pressure reducing valve market.
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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 expected 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 introducing pressure reducing valves while adhering to the international regulations and certification in order to enhance their presence in the market. This is expected to be one of the key trends identified in the global pressure reducing valve market.
- Based on product type, the direct acting segment is expected 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 2/5th of 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’s in the global pressure reducing valve market
- Based on 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.
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