Europe IoT Valves Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 219 | Report Code: BMIRE00032086 | Category: Electronics and Semiconductor
No. of Pages: 219 | Report Code: BMIRE00032086 | Category: Electronics and Semiconductor
The Europe IoT valves market size is expected to reach US$ 702.82 million by 2031 from US$ 347.37 million in 2023. The market is estimated to record a CAGR of 9.2% from 2023 to 2031.
The Europe IoT valves market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Governments of several countries are investing in automating manufacturing businesses and their business operations in the region. In July 2021, the UK government announced an investment of US$ 59.3 million (GBP 53 million) to develop digital manufacturing technologies. In addition, US$ 28.10 million (GBP 25 million) will be invested in setting up five new research centers to accelerate the development of digital solutions that can transform manufacturing businesses. In smart manufacturing, IoT valves can regulate the flow of steam, gases, and liquids used in various processes. Therefore, with the increasing government investments in automating manufacturing businesses, the demand for IoT valves is increasing.
The adoption of IoT valves is increasing in wastewater management. According to the Water Information System for Europe (WISE), households and certain enterprises in 3,913 metropolitan areas in Germany produce 111.3 million potential equivalents (p.e.) of wastewater every day, which is equivalent to ~223 million bathtubs or 22.25 million cubic meters of wastewater. Urban wastewater must be treated before release to prevent damage to ecosystems. In Germany, there are 3,796 wastewater treatment plants through which municipal wastewater is processed before discharge. IoT valves are used in wastewater treatment plants to control the flow of wastewater. Various companies in the region are launching new smart valves. January 2021, GF Piping Systems introduced its process automation innovations and spotlighted its new Butterfly Valve 565. Similarly, in February 2024, with the addition of the new valve, the Swiss flow solutions provider completed its portfolio of the corrosion-free and lightweight Butterfly Valve 565. Its lug-style design allows for additional applications in industries such as marine, water treatment, and cooling applications.
Key segments that contributed to the derivation of the Europe IoT valves market analysis are connectivity, type, and end user industry.
IoT is highly efficient in automating HVAC operations. In an IoT-powered HVAC system, sensors collect data from various data points, which is then processed and delivered back to devices such as Valve cards retrofitted at various points of an existing HVAC system as instructions. These devices then apply these instructions to modulate several HVAC system components, including the chilled water valve. In a large commercial building, IoT valves can regulate the flow of chilled water in a central cooling system. By adjusting the flow based on real-time temperature data and occupancy levels, these smart valves ensure that only necessary areas are cooled. Also, IoT valves equipped with sensors can monitor the performance of HVAC systems and detect issues such as pressure drops, leaks, or blockages. This data is sent to a central system that can predict when maintenance is needed, preventing costly breakdowns and ensuring the HVAC system operates efficiently.
In smart homes, IoT valves can be part of a larger ecosystem that includes thermostats, lighting, and security systems. For instance, when the homeowner leaves the house, the smart home system can reduce the flow of heating or cooling to save energy. On the other hand, it can pre-condition the home to the desired temperature before the homeowner returns. IoT valves offer various benefits in HVAC systems, such as reduced energy consumption, lower maintenance costs, and better air quality. Hence, the integration of IoT in HVAC systems is expected to create various opportunities in the IoT valves market.
Based on country, the Europe IoT valves market comprises Germany, the UK, France, Italy, Russia, and the Rest of Europe. Germany held the largest share in 2023.
Germany is a prominent hub for the manufacturing industry, along with industrial process automation. Many market players and government organizations are involved in incorporating automation and smart solutions in various industries across Germany. For example, in April 2021, Siemens teamed with Google Cloud to enhance production processes and boost efficiency. Siemens plans to combine Google Cloud's AI/ML technology with its factory automation systems to support future innovation. These factors are projected to increase the adoption of automated solutions required in industrial processes in several industries across Germany.
Key players such as Smart Wires, Carriers, and KTW Technology Gmbh provide IoT valves. Many other players are focused on digitalizing industrial valves with the integration of sensors. For example, Exelonix GmbH attached a 5G SENS VALVE Sensor to the hand wheel or lever of a manual valve. The sensor rests in a battery-saving deep-sleep mode until it notices a status change; after noticing a status change, it starts operations, monitors the changes, and transmits the result to the cloud. After this, the sensor goes into sleep mode again. The valve has applications in industries such as oil and gas refining, chemicals, food and beverages, and pharma. Thus, the growing adoption of Industry 4.0, the rising number of players adopting automation, and the increasing integration of valves with sensors propels the Germany IoT valves market growth.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 347.37 Million |
| Market Size by 2031 | US$ 702.82 Million |
| CAGR (2023 - 2031) | 9.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Connectivity
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
|
Some of the key players operating in the market include Klinger Holding GmbH; KTW Technology GMBH; Carrier Global Corp; Belimo Holding AG; IMI Plc; Ultra Clean Holdings Inc; Siemens AG; Flowserve Corp; Honeywell International Inc; Larsen & Toubro Ltd; Smart Wires Inc; Flow Dynamics LLC; IoT Technologies; ChengDu ZhiCheng Technology Co., Ltd.; Teksun Inc.; Autorun Control Valve Co., Ltd.; Ham-Let Group; and Rusco, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Europe IoT Valves Market is valued at US$ 347.37 Million in 2023, it is projected to reach US$ 702.82 Million by 2031.
As per our report Europe IoT Valves Market, the market size is valued at US$ 347.37 Million in 2023, projecting it to reach US$ 702.82 Million by 2031. This translates to a CAGR of approximately 9.2% during the forecast period.
The Europe IoT 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 Europe IoT Valves Market report:
The Europe IoT Valves Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe IoT Valves Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe IoT Valves Market value chain can benefit from the information contained in a comprehensive market report.
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