According to FMI, the global pressure reducing valve market is valued at US$ 1,998.1 Million in 2022 and is expected to grow at a steady CAGR of 4.5% to a net worth of US$ 2,588 Million by the end of 2028. China is expected to command a sizable value share of the global pressure reducing valve market by the end of 2022 and to maintain its dominance throughout the forecast period.
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.
For many years, the pressure reducing valve market has been expanding rapidly, particularly in the Middle East and Africa, India, and China. The growing demand for oil and gas, chemicals, and power in the GCC countries and India is driving up demand for pressure reducing valves in these markets.
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However, the global pressure reducing valve market is expected to face certain challenges. Manufacturers have to follow certain regulations pertaining to pressure reducing valves, which include ASME and JIS.
Prominent manufacturers are involved in introducing pressure reducing valves while adhering to the international regulations and certification in order to enhance their presence in the market. This is expected to be one of the key trends identified in the global pressure reducing valve market.
Segmentation Analysis
- Based on product type, the direct acting segment is expected to dominate the pressure reducing valve market over the forecast period
- Based on material, the ductile iron segment is expected to register the highest growth, in terms of volume as well as value, in the global pressure reducing valve market over the forecast period
- Based on operating pressure, the 50-200 Psig segment is expected to account for more than 2/5th of the overall incremental opportunity created in the global pressure reducing valve market during the forecast period
- Based on application, gas and liquid segments, together, are expected to create an incremental opportunity1.7X that of the steam segment’s in the global pressure reducing valve market
- Based on end-use industry, the chemical segment is pegged to remain dominant in the global pressure reducing valve market throughout the forecast years
Regional Analysis
Western Europe and China together are estimated to have collectively accounted for more than 2/5th of the overall share in the global pressure reducing valve market by the end of 2017. The Middle East & Africa region is a key production base for the oil & gas industry and thus the region is expected to create significant growth opportunities in the global pressure reducing valve market.
Vendor Insights
The report highlights some of the top companies operating in the global pressure reducing valve market such as Watts Water Technologies, Inc., Spirax Sarco Engineering plc, TLV, Itap Spa, Caleffi S.p.a., HAWE Hydraulik SE, Yoshitake Inc., Genebre, HYDAC, Forbes Marshall, CIRCOR International, Inc., Armstrong International Inc. and Fushiman Co., Ltd.
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Key Segments Covered in Pressure Reducing Valve Industry Survey
Pressure Reducing Valve Market by Material Type
- Cast Steel Pressure Reducing Valve
- Stainless Steel Pressure Reducing Valve
- Carbon Steel Pressure Reducing Valve
- Cast Iron Pressure Reducing Valve
- Ductile Iron Pressure Reducing Valve
- Bronze Pressure Reducing Valve
Pressure Reducing Valve Market by Operating Pressure
- 50-200 Psig Pressure Reducing Valve
- 201-500 Psig Pressure Reducing Valve
- 501-800 Psig Pressure Reducing Valve
- Above 800 Psig Pressure Reducing Valve
Pressure Reducing Valve Market by Application
- Gas Pressure Reducing Valve
- Steam Pressure Reducing Valve
- Liquid Pressure Reducing Valve
Pressure Reducing Valve Market by End-Use Industry
- Pressure Reducing Valve for Power Generation Industry
- Pressure Reducing Valve for Pharmaceutical Industry
- Pressure Reducing Valve for Pulp & Paper Industry
- Pressure Reducing Valve for Chemical Industry
- Pressure Reducing Valve for Food & Beverages Industry
- Pressure Reducing Valve for Oil & Gas Industry
- Pressure Reducing Valve for Other Industries
Pressure Reducing Valve Market by Product Type
- Direct Acting Pressure Reducing Valve
- Pilot Operating Pressure Reducing Valve
Pressure Reducing Valve Market by Region
- North America Pressure Reducing Valve Market
- Latin America Pressure Reducing Valve Market
- Europe Pressure Reducing Valve Market
- East Asia Pressure Reducing Valve Market
- South Asia & Pacific Pressure Reducing Valve Market
- Middle East & Africa Pressure Reducing Valve Market