"The Europe HVAC Valves market accounted for US$ 1240.62 Mn in 2017 and is expected to grow at a CAGR of 4.6% over the forecast period 2018-2027, to account for US$ 1845.2 Mn in 2027
NEW YORK, Jan. 23, 2020 /PRNewswire/ -- "The Europe HVAC Valves market accounted for US$ 1240.62 Mn in 2017 and is expected to grow at a CAGR of 4.6% over the forecast period 2018-2027, to account for US$ 1845.2 Mn in 2027. Factors including stringent regulations enforced by governments on energy-efficient buildings driving the Europe HVAC Valves market. The residential sub-sector remains the largest consumer of energy at a global level. Building energy codes, or energy standards for buildings, are the vital policy instrument used by governments to limit buildings' pressure on the energy sector and environment while providing occupants with comfort and modern living conditions. Active building energy codes consist of a set of mandatory requirements designed to reduce the energy consumption of buildings. Building energy codes have been instrumental in reducing the overall energy consumption of the residential buildings stock over the last twenty years. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the Europe HVAC Valves market.
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The Europe 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 Europe HVAC Valves market further.
For instance, Europe is the region with the most significant number of smart city projects.As many as 250 Smart City projects globally in more than 178 cities around the world with the majority focusing on government and energy initiatives, followed by transport, buildings, and water goals.
As sensor technology improves and costs decrease, smart city technologies are becoming more efficient, higher performing, and cheaper than ever before.In Europe, a significant driver for smart cities is the European Commission, which launched the European Innovation Partnership on Smart Cities and Communities (EIPSCC) in 2012.
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 Europe HVAC Valves market. These initiative provide various benefits to the HVAC Valves based companies located in the region thus, increasing the growth of Europe HVAC Valves markets. This is further expected to give the Europe 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 Europe HVAC Valves market.
Based on the product, the Pressure Independent Valve segment is leading the Europe HVAC Valves market.However, the ball valve segment is anticipated to grow at the highest CAGR.
Pressure independent control valves integrate dynamic balancing as well as control functions in a single product.These valves are highly responsive to pressure changes for maintaining the required flow in the pipe.
Pressure independent control valves reduce the first cost with lower cost, smaller, equipment capacity, and smaller piping size.They also eliminate the need for expensive and complicated reverse return piping.
They significantly reduce the labor of testing, adjusting and balancing. Currently, the market players are looking ahead to support Europe HVAC Valves industry by innovating advanced technological components.
The overall Europe HVAC Valves market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe HVAC Valves market.
It also provides an overview and forecast for the HVAC Valves market based on all the segmentation provided for Europe region.Also, primary interviews were conducted with industry participants and commentators 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 consultants 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."
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