"Increasing Adoption Across Oil & Gas Industry Is Driving The Pressure Reducing Valve Market"

Globally, the pressure reducing valve market is expected to grow with a CAGR of 4.2% through the forecast period, up from US$1.75 Bn in 2020. The growth of the market is attributed to the increasing adoption of the pressure reducing valves across the wide range of application across several industry verticals. The valves are widely used to maintain and relieve the pressure of the gas and fluids. The valve reduces the frequency of the unstable pressure and maintains a constant pressure via spring mechanism. 

Furthermore, the demand for the pressure reducing valves is driven by ability to operate in the harsh industrial environment. The growing demand across the industrial facilities to monitor the performance of the valve is driving the market growth. Additionally, the growing automation across the industrial facilities and the integration of the IoT devices is further accelerating the demand for the pressure reducing valve market.

"Steam Application Dominated the Pressure Reducing Valve Market"

Steam application sector was the leading sector in the pressure reducing valve market with the majority share of 38% of the revenue in 2020. The increasing application of the pressure reducing valve in the steam application due to their capability to control pressure via fully automatic and no external power source is driving the market growth. Whereas, the liquid segment is projected to grow at a substantial rate due to wide-scale adoption of valve among the wastewater management application.

"North America Led the Pressure Reducing Valve Market"

North America led the pressure reducing valve market with over 35% share in the revenue in 2020. The large scale adoption of the pressure reducing valve across the oil & gas industry in the region is supporting the market growth. The increasing automation in the oil & gas industry in the region is developing numerous opportunities for the growth of the market. Furthermore, the presence of large power generation plants also supports the growth of the market in the region.   are Armstrong International Inc., Caleffi S.P.A., CIRCOR International Inc., Forbes Marshall, Fushiman Co. Ltd., Genebre SA, HAWE Hydraulik SE, HYDAC, Spirax Sarco Engineering PLC, TLV, Itap Spa, Watts Water Technologies, Inc., and Yoshitake Inc.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Pressure Reducing Valve market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Pressure Reducing Valve market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Pressure Reducing Valve market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Pressure Reducing Valve market?
• Which is the largest regional market for Pressure Reducing Valve market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Pressure Reducing Valve market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Pressure Reducing Valve market worldwide?