As per the latest analysis from Future Market Insights (FMI), the North America Pressure Regulating Valves Market is projected to experience robust growth between 2022 and 2032, with a compound annual growth rate (CAGR) of 5.1%. By the year 2032, the market is expected to reach a substantial valuation of US$ 1,293.5 Million, reflecting the increasing demand and adoption of pressure regulating valves across various industries in the region.
The growing population in the North American region and the rising needs of expanding residential construction are some of the primary factors that have witnessed growth during the historical years of the study.
The consumer’s perspective on the devices is evolving due to an increasing awareness of the maintenance of piping systems and water conservation activities. The PRV should not only be able to regulate the flow but also incur lower maintenance costs on behalf of the consumers. Looking at such trends the vendors are emphasizing laying investments in research and development initiatives and, hence, coming up with technologies and advanced products that can scale up to the consumer’s expectations. Simultaneously, innovating products is the need of the time and, likewise, to maintain & increase market share, vendors have to keep searching for ways of updating the existing technology, which will make the market more stable in terms of growth.
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Key Takeaways of Pressure Regulating Valves Market Study
- The value of the direct operating Pressure Regulating Valves is projected to increase at a value CAGR of 5.0% to reach around US$ 772.5 Mn by the end of 2032.
- In terms of End Use, Apartments and condominiums are anticipated to create an absolute dollar opportunity worth US$ 295.4 Mn.
- In the North America Pressure Regulating Valves market, Up to 2’’ inlet pressure type is projected account for more than 50% share by the end of forecast period owing to its high range of valuations.
- By Country, U.S. is anticipated to account for more than 80% of market share by the end of 2032 and is expected to remain dominant throughout the forecast period.
Competitive Landscape
The market is concentrated, with top players accounting for market share ranging from 55% to 65% of market revenue in 2021. Prominent players in the market aim to be recognized as a leader in operational excellence to offer innovative products to end users with applied product standards in order to gain a prominent share in the market.
The Danfoss A/S, Watts Water Technologies, Inc., Resideo Technologies Inc. are a few of the market’s major participants.
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