Pressure Reducing Valve Market to expand at a steady CAGR of 4.3% by 2028

The report covers comprehensive information about trends, volume (Units) and value (US$ Mn) projections, market dynamics, competition landscape and recent developments in the global Pressure Reducing Valve market for the study period 2018 to 2028.

The global Pressure Reducing Valve market is expected to reach over US$ 2,588.0 Mn by the end of forecast period, registering a CAGR of 4.3%. According to the analysis, the demand for Pressure Reducing Valves is expected to keep increasing over the years. Growing investments in the oil & gas industry and surging demand from end users are expected to be the key factors assisting the growth of the global pressure reducing valve market.

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By Application, Steam Segment Dominates the Pressure Reducing Valve Market

The Steam application segment is expected to dominate the global pressure reducing valve market, both in terms of volume as well as value, during the forecast period. Pressure reducing valves are most widely adopted for the steam application owing to the various advantages associated with them, such as their ability to control pressure through fully-automatic, self-contained operation and no need of external power source.

Among the application segments, the liquid segment is expected to register 1.5X growth over the forecast period in the global pressure reducing valve market. The gas segment, on the other hand, is expected to register high growth in the pressure reducing valve market between 2018 and 2028.

Oil & Gas Sector to Register Above Average Growth Rate over the Forecast Period

Pressure reducing valves are widely utilized in power generation, chemical, oil & gas industries, etc. The oil & gas industry segment is expected to exhibit maximum growth in the global pressure reducing valve market over the forecast period owing to the upswing being witnessed in oil & gas projects across Mexico, India and Gulf Countries.

Other end-use industry segments considered under the scope of this research study on pressure reducing valves include mining and other manufacturing industries. The segment is expected to account for nearly 14% of the overall incremental opportunity created in the global pressure reducing valve market over the forecast period.

China to Remain High Growth High Value Region in the Global Pressure Reducing Valve Market

Stable economic conditions and consistent growth in end-use industries, such as chemical, power generation, pulp & paper and oil & gas, will drive growth in demand in the pressure reducing valves market in the region.

Increasing industrialization and urbanization will create a robust platform for the growth of the pressure reducing valve market. China is expected to account for more than 1/5th of the overall pressure reducing valve market by the end of 2018. The Middle East & Africa is expected to register 1.4X the average growth rate in the global pressure reducing valve market and will be followed by China and Eastern Europe, in terms of value, CAGR over the forecast period.

India and Latin America are expected to gain traction during the latter half of the forecast period in the pressure reducing valve market owing to the anticipated growth of the oil & gas industry supported by growing governmental investments in the oil & gas sector.

Western Europe and Eastern Europe, together, are expected to lose market value share by the end of forecast period in the global pressure reducing valve market. Collectively, Middle East and Africa & China are projected to register a CAGR of 6.1% by value, which is 1.6X more than the collective CAGR of all the other regions, in the pressure reducing valve market

Pressure Reducing Valve Market – Competitive Landscape

The global pressure reducing valve market is most fragmented, with no players holding double digit market share as of 2017. Globally, the top 5 players in the market collectively hold between 15.0% and 20.0% of the market share.

In the recent past, the pressure reducing valve market has not witnessed any significant developments from a competition perspective. However, some of the players are adopting the organic growth strategy to grow across their core market segments. Acquisitions and geographical expansions are found to be the key strategies adopted by the manufacturers in the global pressure reducing valve market.

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Prominent players covered in the pressure reducing valve market include Watts Water Technologies, Inc., Spirax Sarco Engineering plc, TLV, Itap Spa, Caleffi S.p.a., HAWE Hydraulik SE, Yoshitake Inc., Genebre sa, HYDAC, Forbes Marshall, CIRCOR International, Inc., Armstrong International Inc., and Fushiman Co., Ltd.

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