Expansion valves are throttling devices that are used in refrigeration and air conditioning systems to control the amount of refrigerant released into the evaporator, thereby controlling superheat and leading to a highly efficient working of the compressor. Expansion valves also prevent the flooding of the refrigerant into the compressor and thus ensuring that the plant runs safely without any risk to the compressor. Air conditioners are highly preferred in residential as well as commercial areas to control factors like air temperature, humidity and others. Expansion valves have a major application in automotive industry. Expansion valves also find application in the cold storage industry. Construction and tourism industries are also important end users as the rise in housing and hospitality standards around the world is sure to supplement the growth of expansion valves market. Electronic expansion valves are gradually gaining popularity over thermal expansion valves.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
With the increase in number of commercial spaces such as hotels, office spaces, airports, educational institutions and hospitals, expansion valves sales are most likely to increase at a rapid rate. Air conditioning systems are employed heavily in the commercial sector, creating new growth avenues for expansion of valves in the market. Another factor for the demand for expansion valves is the rising standards of housing and hospitality. The emergence of technologically advanced air conditioners, such as air conditioners with inverter and air purification technologies, is also anticipated to help the expansion valves market. There is also significant expansion of retail stores and cold storage capacities worldwide.
The global expansion valve market trends are as follows:
Surge in usage of air conditioning in automobile sector:
The automotive sector is significant for the growth of the market for expansion valves. The air conditioner system is fast becoming an accessory that is considered essential for all types of vehicles. Passenger vehicles consumers are increasingly attracted more towards leisure, thereby increasing the demand for air conditioners aiding to the market growth of expansion valves. The growing demand for Electronic Vehicles is also boosting the air conditioning and in turn the expansion valve market.
Surge in usage of air conditioning in hospitality sector/ Growth of air conditioning industry
According to data of United Nations (U.N) more than 54% of global population is living in urban areas, which is generating employment opportunities and improving income level of individuals. Due to the aforementioned factors of growing population, urbanization and increased standard of living of consumers around the world, creating growth opportunities for the global air conditioners market and as a result the global scroll compressors market as well. Moreover, the growing importance of sterile and contaminant free air in healthcare facilities and other industries like the food & beverage and medical & pharmaceutical industries is expected to help the global scroll compressor market grow in the future.
With the increasing number of commercial spaces such as hotels, office spaces, airports, educational institutions and hospitals, the expansion valves sales is most likely to increase at a rapid pace as air conditioning systems are employed more commercial sector, creating new growth avenues for expansion of valves in the market. The rising number of hospitals, individual clinics, auditoriums, and multiplexes across the globe is anticipated to accelerate the market growth for air conditioning in the near future and thus in turn the expansion valves market.
Key benefits of the report:
- This study presents the analytical depiction of the global expansion valves industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global expansion valves market share.
- The current market is quantitatively analyzed to highlight the global expansion valves market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global expansion valves market analysis based on competitive intensity and how the competition will take shape in coming years.
Expansion Valves Market Report Highlights
By Industry Vertical
Key Market Players
Danfoss, Onyx Valve Co, Sure Flow Equipment, NRF, Sanhua, ABCO HVACR Supply and Solutions, Dahl Brothers Canada ltd, W. H. Cooke & Co, Delphi, Danhard, Gestra, Carel, Siemens, Castel, Velan