NEW YORK, The global industrial thermostatic control valves market size is expected to increase by USD 242.27 million between 2020 and 2025, expanding at a CAGR of over 4% during the forecast period. The market witnessed a YOY growth of 2.12% in 2021 and is expected to observe maximum growth in APAC.
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The increased implementation of automation in industrial facilities will be crucial in driving the growth of the market. Manufacturers are increasingly becoming aware of the need to integrate their systems and processes to prevent downtime and casualty, improve efficiency, and reduce product lead time. This is increasing investments in modernizing the industrial facilities and incorporating advanced technologies and processes. These factors are also increasing the adoption of industrial thermostatic valves to enhance fluid flow throughout the automation process, thereby driving the growth of the market.
In addition, the growing electric power generation in APAC and the increasing number of favorable government regulations will further propel the market growth. However, factors such as fluctuating raw material prices, declining profit margin due to unorganized vendors, and high dependency on the oil and gas industry will hamper the market growth.
Industrial Thermostatic Control Valves Market: End-user Landscape
By end-users, the market is segmented by oil and gas industry, water and wastewater treatment industry, power industry, and others.The oil and gas industry will exhibit maximum demand for industrial thermostatic control valves during the forecast period.The increasing repair and replacement activities in the oil and gas industry are driving the growth of the segment.
Industrial Thermostatic Control Valves Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period.About 43% of the market’s overall growth is expected to originate from APAC.The rapid industrial development across countries like China, India, South Korea, Indonesia, and Taiwan has been crucial in driving the growth of the industrial thermostatic control valves market in APAC.Also, the modernization of plant facilities in APAC will be contributing to the growth of the regional market.China, India, and Japan are the key markets for industrial thermostatic control valves in APAC.Market growth in APAC will be faster than the growth of the market in other regions.
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Companies Covered:
AMOT Controls Corp.Armstrong International Inc.Danfoss ASDwyer Instruments Inc.Fluid Power EnergyFushiman Co. Ltd.Honeywell International Inc.Huegli Tech AG (LTD)Metrex Valve Corp.Relevant Solutions LLC
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