north america hvac valves Market

The North America HVAC Valves market accounted for US$ 729.6 Mn in 2017 and is expected to grow at a CAGR of 5.7% over the forecast period 2018-2027, to account for US$ 519.0 Mn in 2027. Factors including boosting exposure of IIOT driving the North America HVAC Valves market. The emergence of smart technologies and Industrial IoT is supporting in the industries developing further by using immense amounts of data generated by the group of equipment and systems for the different operational conditions. IIoT as one of the major trends in the industry is being implemented in almost all types of businesses across both developed as well as developing countries. Industry 4.0, current update in IIoT is not only about automation, but is about the interconnectivity of different systems in a collaborative network environment paired with artificial intelligence and analytics. As a result of this combination of automation technology with business is reducing maintenance and operations cost by changing the way plant maintenance is executed on certain critical assets. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the North America HVAC Valves market.

The North America HVAC Valves market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the North America HVAC Valves market further. For instance, The U.S. government has taken various initiatives for supporting manufacturing sector in the country. This includes programs such as Manufacturing USA, Advanced Manufacturing Technology Consortia, MForesight, Hollings Manufacturing Extension Partnership, Investing in Manufacturing Communities Partnership, Materials Genome Initiative, National Export Initiative, Sustainable Manufacturing Clearinghouse etc. These initiative provide various benefits to the HVAC valves manufacturing companies located in the region. These initiatives are implemented to enhance the technologies that positively impact on the North America HVAC Valves market. These initiative provide various benefits to the HVAC Valves based companies located in the region thus, increasing the growth of North America HVAC Valves markets. This is further expected to provide the North America HVAC Valves market players to cope up with the rapidly transforming industrial requirement. This initiative provides multiple benefits to the companies present in this region and thus increasing the growth of North America HVAC Valves market.

On the basis of product, the Pressure Independent Valve segment is leading the North America HVAC Valves market. However, the ball valve segment are anticipated to grow at a highest CAGR. The growth of ball valve is highly dependent upon the growth of industries such as oil & gas, chemical, power, mining, refining. Apart from these industries, the ball valves are used in ships, fire safety protection services, nuclear power generation, etc. The manufacturing industry is anticipated to pertain its growth, as newer and innovative technologies plunge into these industries. The oil & gas industry is one of the major customers of ball valves. Currently, the market players are looking ahead to support North America HVAC Valves industry by innovating advanced technological components.

The overall North America HVAC Valves market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America HVAC Valves market. It also provides the overview and forecast for the HVAC Valves market based on all the segmentation provided with respect to North America region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the HVAC Valves industry. Some of the players present in HVAC Valves market are AVK Group A/S , Belimo Holding AG, Danfoss A/S, Flowserve Corporation, Honeywell International Inc., Johnson Controls International Plc., Mueller Industries, Inc., Samson Controls, Inc., Schneider Electric SE, and Siemens AG among others.