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.
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.
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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Key Regional Trends in the Forecast Period
- The Chinese market is projected to exhibit remarkable growth, with an anticipated Compound Annual Growth Rate (CAGR) of 5.6%. This expansion is forecasted to result in an impressive increase of US$ 1.9 Billion during the forecast period.
- Japan’s market, on the other hand, has shown notable progress, transitioning from a CAGR of 2.8% recorded between 2017 to 2022 to a projected growth rate of 4.0% during the forecast period.
- By 2033, China is expected to dominate the market landscape, holding the largest market share valued at US$ 4.5 Billion. This surpasses the projected market value of the United States of America, estimated at US$ 2.7 Billion by the same year
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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Market by Category
By Product Types:
- Thermal Expansion Valves
- Electronic Expansion Valves
By Application:
- Air Conditioning
- Refrigeration
By Installation:
- New Sales
- Retrofit
By Type:
- Automotive
- OEM
- Aftermarket
- Industrial Facilities
- Commercial Buildings
- Retail Outlets and Warehousing
- Residential
By Material Type:
- Stainless Steel
- Copper
- Brass
- Others
By Refrigerants:
- R410A
- R407C
- R404A
- R134A
- R290
- R744
- R22
- CO2
- Glycol Water
- R1234YF
By Working Pressure:
- up to 30 bar
- 30 to 50 bar
- 50 to 200 bar
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Oceania
- Middle East and Africa (MEA)
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