Pressure Reducing Valves Market expected to grow at a CAGR value of 4.3% through 2028 – Future Market Insights

Use of Pressure Reducing Valves in oil and gas industry is becoming prominent due to cost-efficiency and automatic, self-operating facilities.

The pressure reducing valve market   is expected to be valued more than US$ 2588.0 million by the end of 2029. Manufacturers in the market are focussing on expanding product portfolio and developing inorganic growth strategies. India and Latin America is set to remain prominent throughout, in terms of, growth and revenue. Though market can experience considerable loss owing to late delivery and poor quality yet investment in these areas might result in a steady growth.

“Due to availability of wide range of segment types and materials, manufacturers are focussing on product innovation and unique strategies to get an insight into the kind of production this market demands. Water, oil and gas industry is expected to grow exponentially and use of industrial assemblies in these industries will witness improvement globally,” states the FMI Analyst.

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Pressure Reducing Valves Market – Key Highlights

• This market is likely to reach US$ 2588.0 million in the upcoming years.
• On the basis of application, oil and gas industry contributed for maximum revenue and is set to witness prominent growth.
• According to research analysts at FMI, mining industry accounts for 14% of the revenue share in terms of value.
• Application wise, liquid segment is expected to witness a growth of 1.5X through the forecast period.

Pressure Reducing Valves Market – Driving Factors

• Agriculture, mining, oil and gas industries and rising demand from end-users require a great deal of pressure reducing valves.
• Demand for pressure reducing valves is rising in mining, chemical, metalworking and water-treatment sector. This has escalated production and consumption.
• There has been a rise multiple power generation and water exploration activities, therefore, generating demand and supply.
• Better features and unique modifications, cost efficiency and rapid urbanization propels market growth.

Pressure Reducing Valves Market – Key Restraints

• Limited product portfolio and poor quality product is likely to reduce production and consumption.
• Late delivery is one of the major concerns for end-users and manufacturers, thereby, reducing market growth.

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Expected Impact on Market by Coronavirus Outbreak

Pressure Reducing Valves market might experience considerable pressure due to reduced production but as major industries demand for it due to the benefits, market position will enhance soon. In times like these social distancing and proper hygiene is demanded, it is important for water plants and other industries to work on it. This has been in trend lately and market can soon revive to the pre-pandemic position because it is demanded in all important industries like chemicals, mining, water treatment etc.  Value added features like cost-efficiency and product expansion will soon attract the manufacturers.

Competition Landscape

Key manufacturers are incorporating innovative techniques like product innovation and are investing into strengthening market position throughout. There has been a rising attention towards inorganic growth strategies, joint ventures, targeting a firmer and collaborations with key players.

Key players 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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FMI’s report on pressure reducing valves market provides proper segmentation and analysis of market trends and macro-economic factors.  It provides taxonomy on the basis of valve type (direct acting, pilot operating), material (cast steel, carbon steel, bronze, stainless steel), end-user (mining, oil and gas, chemicals etc.), operating pressure and region.

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