“HVAC Valves market in Europe is expected to grow from US$ 1240.62 Mn in 2017 to US$ 1845.32 Mn by the year 2027. This represents a CAGR of 4.6% from the year 2020 to 2027.” Stringent Regulations Enforced by Governments on energy-efficient buildings is fueling the Europe HVAC Valves market. Buildings are the largest consumers of energy worldwide and the building sector accounts for 40% of primary energy consumption. Additionally, the number of buildings are consistently going to increase owing to the increase in populations and urbanization in major cities of the world adding further pressure on the energy supplies around the world. In a scenario as this, where there is a dire need to achieve energy efficiency, the implementation of energy codes and minimum performance standards are required to be levied as mandates. The residential sub-sector remains the largest consumer of energy at a global level, thereby driving the HVAC Valves market in Europe.
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- 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
- Siemens AG
The rising integration of connected valves for industrial, commercial and residential sectors is anticipated to fuel the Europe HVAC Valves market growth. The IoT trend is steadily penetrating each and every aspect of the industry. With the emergence of IPv6 and IoT, any product in the world can be assigned with an IP address and thereby brought over the internet. Valves integrated with embedded processor and networking capability to achieve sophisticated monitoring technology which can be coordinated with central control station is thus anticipated to gain traction in the coming times. In order to attain this in industries, industrial valves are connected to data network, coordinating control valve operation with the data available. These initiative by the market player are enhancing the growth of Europe HVAC Valves market.
Germany is anticipated to leads the HVAC Valves market across the Europe region through the forecast period. Germany is one of the leading producer of automobiles in the world and many major car manufacturing companies are located in the country including Volkswagen, BMW AG, Audi and others. This creates a demand for HVAC system installed in the vehicles. Also, the residential construction sector of the country is rising thus, bolstering the growth of HVAC valves market. This will further propel the growth of manufacturing industry in the country thereby, accelerating the growth of HVAC valves market in the Germany. This bolster the Europe HVAC Valves market on the forecast period.
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