The expansion valves market is poised for significant growth, with sales projected to reach US$ 17.4 Billion by 2033, up from US$ 11.5 Billion in 2023, reflecting a robust Compound Annual Growth Rate (CAGR) of 4.2% between 2023 and 2033. The escalating demand for advanced air conditioning systems across various sectors will serve as a primary driver for this expansion.
Expansion valves are crucial components in refrigeration and air conditioning systems, responsible for regulating the flow of refrigerant into the evaporator coil. These valves play a pivotal role in controlling the pressure and temperature of the refrigerant as it transitions from a high-pressure liquid to a low-pressure liquid-vapor mixture within the evaporator.
These valves play a critical role in refrigeration and air conditioning systems by regulating the release of refrigerants, facilitating precise control of superheating, and enhancing compressor efficiency. Furthermore, they contribute to greater compressor safety and longevity by preventing refrigerant leakage into the compressor. As the adoption of air conditioning systems increases in response to global warming and rapid urbanization trends, the expansion valves market is expected to experience steady and sustained growth.
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The automotive sector remains a pivotal consumer for expansion valves, with continual growth anticipated.
Moreover, the burgeoning electric vehicle segment is forecasted to amplify the need for advanced expansion valves tailored to specific requirements.
FMI’s analysis indicates that the residential sector will predominantly drive expansion valve sales, closely followed by significant demand from the automotive industry. The increasing demand across diverse sectors is poised to propel the expansion valves market to exceed a valuation of US$ 11.5 Billion by the year 2033.
Start-up Ecosystem
In recent years, advancements in technology have revolutionized the manufacturing landscape, leading to notable enhancements in the production and efficacy of expansion valves. Particularly in sectors requiring critical applications such as healthcare and pharmaceuticals, emerging players have introduced seamless manufacturing processes. These advancements have not only resulted in cost reductions but also ensured the maintenance of stringent quality standards.
| Start-up Company | FabLab |
|---|---|
| Country | Italy |
| Description |
One notable example is FabLap, a pioneering start-up specializing in digital fabrication. In 2020, FabLab achieved a significant milestone by successfully manufacturing 3D-printed valves tailored for critical care patients. Under the guidance of physicist Massimo Temporelli, the founder of FabLab, these valves were meticulously developed to comply with all safety regulations. Their deployment proved invaluable during times of urgency, highlighting the crucial role of innovation in addressing critical needs. |
Key Players
- Emerson Electric Co
- Sanhua
- Fujikoki Corporation
- OTTO EGELHOF GmbH & Co. KG
- Castel S.r.l.
- TGK CO., LTD.
- Keihin
- CAREL INDUSTRIES S.p.A.
- Parker-Hannifin Corporation
- Denso
- Hanon Systems
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