HVAC Valves market in APAC is expected to grow from US$ 2190.6 Mn in 2018 to US$ 3573.2 Mn by the year 2027. This represents a CAGR of 5.6% from the year 2018 to 2027.
Growing Acceptance of Building Energy Management System (BEMS) is fueling the APAC HVAC Valves market. The HVAC systems integrated in the buildings are a bit expensive to operate. Owners of the buildings invest huge amounts in the environmental and building control systems. However, the building management systems are essential for productivity, safety and occupant comfort. The valves and actuators form a very crucial part of the HVAC system as they account for more than 30% of the energy consumption of the total HVAC system. Efficient, smart buildings manage those costs with reliable HVAC control devices that help regulate and decrease a facility's energy use. These devices provide early warning of potential problems and dangerous system conditions at a global level, thereby driving the HVAC Valves market in APAC.
The mounting focus on new material development of HVAC valves is anticipated to fuel the APAC HVAC Valves market growth. In modern supercritical plants, steam pressures range from 3,200 to 3,500 psi with temperatures maintaining about 566°C to 582°C, and in many special application areas the temperature is pushed even higher to nearly 649°C. Now that the temperatures in these plants have generally exceeded the practical limits, engineers are specifying new material in steam systems. Valves with new materials are continuously into emergence, some of the innovative material coming into market are new ferrite steel, meta-stable austenitic, HR6W. These advance material offers stability of long term creep rupture strength, superior creep rupture ductility, and better corrosion resistance property. These initiative by the market player are enhancing the growth of APAC HVAC Valves market.
China is anticipated to leads the HVAC Valves market across the APAC region through the forecast period. China is the largest manufacturer in the world, with presence of several diverse industries. Also, China is the global leader in production of passenger cars and commercial vehicles, as well as electronic product assembly. The presence of robust manufacturing base is a key factor for the growth of the market. Further, with the rapidly growing population of China, the country is planning to move around 250 Mn of its population into its rapidly developing megacities. Thus, to accommodate that huge migration, China is investing heavily in its infrastructure projects. The Chinese government is highly focused on the development of its infrastructure and has taken several measures to support the development. This bolster the APAC HVAC Valves market on the forecast period. The figure given below highlights the revenue share of Rest of APAC in the APAC HVAC Valves market in the forecast period:
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 2190.6 Million |
| Market Size by 2027 | US$ 3573.2 Million |
| CAGR (2018 - 2027) | 5.6% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The APAC HVAC Valves Market is valued at US$ 2190.6 Million in 2018, it is projected to reach US$ 3573.2 Million by 2027.
As per our report APAC HVAC Valves Market, the market size is valued at US$ 2190.6 Million in 2018, projecting it to reach US$ 3573.2 Million by 2027. This translates to a CAGR of approximately 5.6% during the forecast period.
The APAC HVAC Valves Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the APAC HVAC Valves Market report:
The APAC HVAC Valves Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The APAC HVAC Valves Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the APAC HVAC Valves Market value chain can benefit from the information contained in a comprehensive market report.
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