According to Future Market Insights analysis, the North America Pressure Regulating Valves Market is expected to reach US$ 782.9 Mn in 2022, growing at a CAGR of 5.1% from 2022 to 2032.
Pressure-regulating valves are widely used in domestic water distribution systems, in which direct-acting pressure-reducing valves are often recommended as maintaining system pressure can be very difficult under high-demand conditions. Pressure-reducing valves are used in these lines to effectively regulate the downstream pressure to acceptable limits. In the U.S. and Canada, Pressure Regulating Valves market growth is driven by the strength of the residential repair and remodelling markets. Following the outbreak of COVID-19, the trend for increased spending on home improvement is on the high rise and is to be continued throughout the forecast period, which will boost the pressure regulating valve market in North America.
The growing population in the North American region and the rising need for expanding residential construction are some of the primary factors that have witnessed growth during the historical years of the study. The consumer’s perspective on the devices is evolving due to increasing awareness of the maintenance of piping systems and water conservation activities. The PRV should not only be able to regulate the flow but also incur lower maintenance costs on behalf of the consumers. Looking at such trends the vendors are emphasizing laying investments in research and development initiatives and, hence, coming up with technologies and advanced products that can scale up to the consumer’s expectations.
The U.S. is expected to account for the dominant share owing to the rise in construction industry valuation and a growing number of multi-story buildings where consumption of Pressure Regulating Valves is high. Hence, the U.S. is estimated to hold more than 75% of the market value and volume share collectively in the North American market. North America Pressure Regulating Valves account for 20-25% of the global Pressure Regulating Valves market on a value basis.
Simultaneously, innovating products is the need of the time and, likewise, to maintain & increase market share, vendors have to keep searching for ways of updating the existing technology, which will make the market more stable in terms of growth.
Key Takeaways of Pressure Regulating Valves Market Study
The value of the direct operating Pressure Regulating Valves is projected to increase at a value CAGR of 5.0% to reach around US$ 772.5 Mn by the end of 2032.
In terms of End Use, Apartments and condominiums are anticipated to create an absolute dollar opportunity worth US$ 295.4 Mn.
In the North America Pressure Regulating Valves market, Up to 2’’ inlet pressure type is projected to account for more than 50% share by the end of the forecast period owing to its high range of valuations.
By Country, U.S. is anticipated to account for more than 80% of the market share by the end of 2032 and is expected to remain dominant throughout the forecast period.
“The growing residential construction sector and strict energy-efficiency regulations in the North American region owing to the increasing population is expected to accelerate the market growth of Pressure Regulating Valves,” says Future Market insights analyst
Competitive Landscape
The market is concentrated, with top players accounting for market share ranging from 55% to 65% of market revenue in 2021. Prominent players in the market aim to be recognized as a leader in operational excellence to offer innovative products to end users with applied product standards in order to gain a prominent share in the market.
The Danfoss A/S, Watts Water Technologies, Inc., and Resideo Technologies Inc. are a few of the market’s major participants.
More Insights into the Pressure Regulating Valves Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the North America Pressure Regulating Valves market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on by valve type, by inlet pressure, by diameter, by end use and by country.
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