According to the study, the demand for pressure-reducing valves is expected to rise in the coming years. Rising investments in the oil and gas and chemical industries are expected to be key drivers of the global pressure-reducing valve market.
Future Market Insights provides a comparison and in-depth analysis of the Pressure Reducing Valve market, as well as current market trends and dynamics influencing the growth outlook. The pressure-reducing valve market is driven by the pressure-reducing valve’s ability to reduce the pressure of fluids and gases used in industries for various applications, as well as its good leakage protection.
Furthermore, commercial and residential applications of pressure reduction valves are driving the market growth. These valves reduce the flow of water through them, resulting in a consistent and controlled value at the valve’s output.
According to the India Brand Equity Foundation, the government has approved 100 percent FDI in a variety of sectors, including natural gas, petroleum products, and refineries.
Furthermore, by 2022, the government plans to invest $2.86 billion in upstream oil and gas production to double natural gas output to 60 cm and develop more than 120 exploratory wells. All of these initiatives and investments are expected to result in a higher market growth outlook for the current forecast.
Pressure reducing valve market has been gaining popularity in recent times and this is expected to create significant demand for them over the next few years. The scope of application of pressure-reducing valves has increased exponentially, and this has also contributed to an increase in demand. The market registered a 3.9% CAGR between 2013 and 2021.
The pressure-reducing valve market is driven by the excellent leakage protection provided by the pressure-reducing valve, as well as its ability to reduce the pressure of fluids and gases used in industries for various purposes. Furthermore, the commercial and household applications of pressure-reducing valves are contributing to market growth. These valves reduce the water pressure that passes through them, resulting in a constant and regulated value at the valve’s outlet.
Furthermore, the expansion of the petroleum and oil industries is one of the major factors driving the pressure-reducing valve market. Overall, demand for pressure-reducing valves is expected to rise at a 4.5 percent CAGR through 2028.
Key players:
- Watts Water Technologies Inc.
- Spirax Sarco Engineering Plc
- TLV
- Itap S.p.a
- Caleffi S.p.a.
- HAWE Hydraulik SE
- Yoshitake Inc.
- Genebre S.A
- HYDAC
- Forbes Marshall
- CIRCOR International Inc.
- Armstrong International Inc.
- Fushiman Co. Ltd.
