Rockville, Nov. 09, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global hydraulic valves market will enjoy the valuation of US$ 5,459.1 million in 2022 and is projected to grow with the healthy CAGR of 3.8% during the forecast year. Also, the market is poised to grow increasing installation of hydraulic system with integrated cooling system.
Hydraulic valves regulate the flow and pressure of fluids (water or oil) by controlling the amount of fluid flowing through the system. Increasing demand for hydraulic valves in construction and agricultural machinery is a key factor driving the hydraulic valves market.
Advances in agricultural mechanization are accelerating the use of agricultural machinery, while infrastructure projects and the development of transportation facilities are boosting the demand for construction machinery.
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Moreover, the rise in the consumption of oil and gas has been observed in developed and developing countries. Thus, industries are shifting their focus on expanding their product offerings and production facilities through offshore and onshore exploration of oil & gas to fulfil the increasing demand and thereby the supply of the same. This all has created immense opportunities for the valves manufacturers.
More effective integration of modern technologies such as 3D printing and the Internet of Things (IoT) is expected to open up future growth prospects in the global market. Renowned manufacturers have benefited greatly from research and development efforts to find the cost-effectiveness balance for hydraulic valves.
Key Takeaways from Market Study
- The global hydraulic valves market is projected to grow 1.4X and reach US$ 7,895.8 million by 2032.
- The market witnessed 3.2% CAGR between 2017 and 2021.
- Under product type, directional control hydraulic valves dominate the market with US$ 2,243.6 million valuation in 2022.
- Construction Machinery segment is expected to reach market valuation of US$ 1,388.5 million by 2022 end.
- North America dominated the market with 40.0% market share in 2021.
“Advancement of hydraulic valves with integrated embedded processor and network capability has increased the reliability and responsiveness of the flow control” says a Fact.MR analyst.
US hydraulic valves are expected to garner massive revenue
Hydraulic valves are extensively used in the fields of building, mining, agriculture, and even the U.S., but the increased usage of hydraulic systems and the sales and delivery of hydraulic valves will continue to rise.
In 2021, the construction market in the United States reached $1.9 trillion. Some major construction projects, such as the Amazon headquarters project whose budget is around US$ 2.5 billion, the Central Valley project, estimated to cost around US$ 13.1 billion, etc., are currently under progress in US. Since hydraulic valves are widely used for construction, they’re expected to get a lot of sales in the US.
The US agriculture industry has an annual crop production of about $157 billion. Major farming hardware, such as the tractor and farming machinery, use hydraulic systems to function.
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Market Development
Market participants can create integrated sales channel to streamline their supply chain. As number of hydraulic systems are increasing in numbers owing to increase in industrial manufacturing and construction, the manufacturers have lucrative opportunity to create additional revenue.
Integrating with different advancements in the technology, the players in the market should try coming up with new product range that has improved features than that of the existing valves. Introduction of sensors or compact control units to monitor the flow of the fluids through the valves can be an upgradation in the product attracting more customers.
Key Companies Profiled
- Bermad Water Technologies
- Bosch Rexroth
- Burkert
- CBF Hydraulic
- Continental Hydraulics
- Curtiss-Wright
- Daikin Industries
- Eaton
- Emerson Electric
- ENERPAC
- Haskel
- HAWE
- Kawasaki Heavy Industries
- Oilgear
- Parker Hannifin
- Pedro Roquet
- Sun Hydraulics
- Versa Products
- Woodward Textron
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Segmentation of Hydraulic Valves Industry Research
- By Type :
- Directional Control Valve
- Flow Control Valve
- Formula1
- Pressure Control Valve
- By Flow Rate :
- Below 50 L/min
- 50-200 L/min
- 201-500 L/min
- 501-1000 L/min
- Above 1000 L/min
- By Operation :
- Automated
- Manual
- By End Use Industry :
- Agriculture Machinery
- Automotive
- Construction Machinery
- Material Handling
- Metal & Mining
- Oil & Gas
- Power Generation
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia &Oceania
- Middle East & Africa
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Expansion Valves Market: An expansion valve is a throttling device that is used in refrigeration and air conditioning systems. Expansion valve controls the amount of refrigerant released into the evaporator, thereby controlling superheat and leading to a highly efficient working of the compressor and the air conditioning plant.
Chemical Injection Metering Pumps & Valves Market: Chemical injection metering pumps & valves are used for the injection of precise and accurate volume of liquid in a specific time-frame for high flow rate accuracy of the liquid. The use of chemical injection metering pumps & valves in the chemical industry, for accurate dosing of chemicals into a system is the major highlight of the market.
Marine Valves and Actuators Market: The marine valves and actuators market is predicted to grow at a moderate CAGR of 4.5%. The global market is estimated to reach a value of about US$ 5.8 Bn by 2032, growing from US$ 3.5 Bn valued in 2021.
Motorized Valves Market: A large power plant has hundreds of valves installed in it to manage water and stream flows seamlessly. Valves are mainly deployed to control flow, its direction, regulate a flow or process pressure or relieve a pipe system of a specific pressure. A motorized valve is a type of valve that uses an electric motor to open or close its mechanism. Motorized valves make a viable option for diverse remote fluid control applications, including agricultural irrigation, aircraft deicing, and automated fire suppression.
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