According to a new report published by Allied Market Research, titled, "Global Pressure Reducing Valve Market by Type, Operating Pressure, and End-User: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global pressure reducing valve market size was valued at $2,501.7 million in 2018, and is projected to reach $3,617.7 million by 2026, registering a CAGR of 4.5% from 2019 to 2026. The pressure reducing valve as the name indicates reduces the input pressure of gas or fluid to the desired value in various industrial applications. It is also known as pressure regulator. The simple structure of pressure reducing valve includes adjusting screw, pressure plate, diaphragm, spring cage, and others. In addition, these valves are economical, consume less space, and lightweight as compared to other valves.
Asia-Pacific is expected to be the leading contributor to the global market, followed by Europe and North America. Based on type, the pilot operated segment accounted for the highest global pressure reducing valve market share in 2018 and direct acting is expected to witness significant growth during the forecast period, owing to the its installation in the oil and gas industry.
In terms of end-user, the oil and gas segment has secured the highest share in the pressure reducing valve market in 2018, and chemical is expected to witness growth at a CAGR of 5.6% during the forecast period owing to technical innovations, and increase in emphasis on the chemical and water & waste water system sectors, which is expected to provide lucrative growth opportunities to market players in developing economies.
The major players in the market such as Honeywell International Inc., Eaton, and Spirax-Sarco Engineering plc, have focused on developing new products to strengthen their presence in the pressure reducing valve market. Moreover, these companies expand their business by launching innovative products to sustain the intense competition.
The key players profiled in the report include Apollo Valves, Eaton, Honeywell International Inc., KSB, Parker, Reliance Worldwide Corp. Ltd., Singer Valve, Spirax-Sarco Engineering plc, TALIS Management Holding GmbH, and WATTS Industries.
Key Findings of the Pressure Reducing Valve Market :
- The report provides an extensive analysis of the current and emerging pressure reducing valve market trends and dynamics.
- Depending on type, the pilot operated segment dominated the pressure reducing valve market, in terms of revenue in 2018 and direct acting segment is projected to grow at a CAGR 5.0% during the forecast period.
- By end-user, the oil and gas segment led the pressure reducing valve market in 2018.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
- Key market players within the pressure reducing valve market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the pressure reducing valve industry.
- The report provides an extensive analysis of the market trends and its emerging opportunities.
- In-depth pressure reducing valve market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
- The global pressure reducing valve market forecast analysis from 2018 to 2026 is included in the report.