According to our latest market study on " Hydronic balancing valves Market Forecast to 2031 - Global Analysis - by Type, Connection Type, Size, Application and Geography," the hydronic balancing valves market size is expected to grow from US$ 1,268.54 million in 2023 to US$ 2,072.27 million by 2031. It is expected to register a CAGR of 6.33% from 2023 to 2031.
Rising industrialization across the globe is anticipated to boost the demand for heating, ventilation, and air conditioning (HVAC) systems, which is projected to boost the requirement for hydronic balancing valves. In addition, rapid investment toward the development of oil and gas infrastructure and upgradation of aged infrastructure in developed regions such as North America and Europe is anticipated to fuel the hydronic balancing valves market growth in the coming years.
Hydronic balancing valves with sizes ranging from 6" to 10" are mostly used in HVAC systems, hydronic heating & cooling systems, and other applications in large residential and light to medium commercial spaces. An increase in investment toward the construction of large residential and light commercial applications in countries such as India, China, Japan, the US, Canada, Saudi Arabia, the UAE, Germany, and France is anticipated to raise the demand for HVAC systems, which is expected to fuel the hydronic balancing valves market growth in the coming years.
Commercial applications of the hydronic balancing valves are projected to dominate the market during the forecast period. The size of residential and commercial HVAC units differs significantly. Commercial units are substantially larger than the HVAC systems of residential units. Three elements are needed to regulate the climate of a commercial building: warm or cool air, a distribution system, and controls. Commercial buildings use simple, programmable thermostats that send different heating or cooling queues throughout the process, which is like residential HVAC systems. A few widely used commercial HVAC systems are packaged systems, split systems, rooftop RTU HVAC, and VRF systems.
Commercial spaces and complexes are growing across the globe; for instance, in California (US), a high-speed rail project with an investment of US$ 13.1 billion began in 2020, and is estimated to be completed by 2028. Further, Japan is planning to expand its railway network with an investment of US$ 13.7 billion; the project Chou Shinkansen (Tokyo-Nagoya) is anticipated to be completed by 2027. With the growing number of railway projects, there is an increased need for more railway stations to be constructed, which require HVAC systems for smooth operations. All these factors are anticipated to fuel the hydronic balancing valves market growth across the globe in the coming years.
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Key Findings of Market Study:
In terms of revenue, Asia Pacific dominated the hydronic balancing valves market share in 2023. North America is the second-largest contributor to the global hydronic balancing valves market. In North America, the US, Canada, and Mexico are considered technologically advanced nations. There is a rise in the adoption of HVAC systems owing to various features provided in these systems, such as energy efficiency and sustainability. According to Air Conditioning Contractors of America ACCA, HVAC services in North America are set to increase in value from US$ 25.6 billion in 2019 to US$ 35.8 billion by 2030. The growing application of HVAC systems across North America is anticipated to propel the growth of the hydronic balancing valves market during the forecast period.
Contributions and market initiatives of the key players such as Danfoss AG; Hays Fluid Controls; Victaulic Company; Red-White Valve Corp.; Oventrop Corporation; Caleffi SpA Siemens; Frese Group; Johnson Controls, Inc.; American Wheatly; and Xylem are influencing the hydronic balancing valves market. In addition, several other important hydronic balancing valves market players have been studied and analyzed during the study to get a holistic view of the hydronic balancing valves market and its ecosystem.
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