The Emergence of Connected Valves Has Boosted the Hvac Valves Market

• Published Month : Wednesday, 28 Aug 2019 07:00 pm

The global HVAC valves market is accounted to US$ 4442.8 Mn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019 – 2027, to account to US$ 6992.5 Mn by 2027. 

The global HVAC valves market is accounted to US$ 4442.8 Mn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019 – 2027, to account to US$ 6992.5 Mn by 2027. The global HVAC valves market is experiencing steady growth in the forecast period on account of the adoptions of Building Energy Management Systems (BeMS) by the building owners for achieving optimal energy consumptions. By adopting BeMS, the building owners also ensure that they reduce the energy consumed in the building. As buildings are the largest consumers of energy worldwide, the need for optimizing energy levels in these buildings has become essential. Rising energy costs, coupled with the stringent government mandates on maintaining a certain specific level for optimized energy usage have called for solutions that would enable energy efficiencies. An HVAC system is an integral part of building these days and also account for the maximum energy consumed in the building.

A key trend which will predominantly affect the HVAC Valves market in a coming year is the emergence of connected valves for industrial, commercial and residential sectors. The IoT trend is steadily penetrating each and every aspect of the industry. With the emergence of IPv6 and IoT, any product in the world can be assigned with an IP address and thereby brought over the internet. Valves integrated with embedded processor and networking capability to achieve sophisticated monitoring technology which can be coordinated with central control station is thus anticipated to gain traction in the coming times having a significant impact of the HVAC Valves market.

HVAC Valves market by application is segmented into residential, commercial, and industrial sectors. The HVAC valves regulate, block and allow the flow of any media such as liquid, gases, and water through the pipeline. HVAC systems are integrated into the building systems for occupant comfort and safety. These HVAC systems consist of many components and valves are one of the essential components of these systems.

The overall HVAC Valves market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the HVAC Valves market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the HVAC Valves industry.

Besides this, the report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the market in these regions.