HVAC Valves market in North America is expected to grow from US$ 761.9 Mn in 2017 to US$ 1209.7 Mn by the year 2027. This represents a CAGR of 4.9% from the year 2018 to 2027.
Growing Acceptance of Building Energy Management System (BEMS) is fueling the North America HVAC Valves market. With urbanization and industrialization at a very rapid pace, an exponential rise in the residential, commercial and industrial building construction activities has been witnessed. Post the recovery from the recession in the year 2014, the construction market gathered pace. Lowering interest rates on housing loans, lower interest rates for businesses, subsidies by Governments for industrial setups have further helped the proliferation of construction market. Also, in most of the commercial buildings, footfalls create a difference for generating revenues, and therefore, the lighting, heating and air conditioning systems in the commercial buildings is highly emphasized upon, thereby driving the HVAC Valves market in North America.
The rising integration of connected valves for industrial, commercial and residential sectors is anticipated to fuel the North America HVAC Valves market growth. 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. Connecting valves to a network allows distributed control, which can enable operators to reconfigure piping and networking systems so that a field can continue producing even if there is a blockage in, or damage to, the pipeline network. These initiative by the market player are enhancing the growth of North America HVAC Valves market.
US is anticipated to leads the HVAC Valves market across the North America region through the forecast period. The automotive industry is one the largest manufacturing sector in the U.S. According to OICA data, total car production in year 2016 was 4.2 Mn in the U.S. Further, the country has a strong aerospace & defense manufacturing sector. Recently, the federal government pledged to bring back the manufacturing companies to the U.S., which shifted overseas for attaining cost-competitiveness. The government announced its plans to offer tax-cuts to manufacturers based in the U.S. as well as to impose higher tariffs on overseas manufacturers. This will further propel the growth of manufacturing industry in the country thereby, accelerating the growth of HVAC valves market in the U.S. This bolster the North America HVAC Valves market on the forecast period. The figure given below highlights the revenue share of Mexico in the North America HVAC Valves market in the forecast period:
NORTH AMERICA HAVC VALVES – MARKET SEGMENTATION
By Product
By Application
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2017 | US$ 761.9 Million |
| Market Size by 2027 | US$ 1209.7 Million |
| CAGR (2018 - 2027) | 4.9% |
| Historical Data | 2015-2016 |
| Forecast period | 2018-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America HVAC Valves Market is valued at US$ 761.9 Million in 2017, it is projected to reach US$ 1209.7 Million by 2027.
As per our report North America HVAC Valves Market, the market size is valued at US$ 761.9 Million in 2017, projecting it to reach US$ 1209.7 Million by 2027. This translates to a CAGR of approximately 4.9% during the forecast period.
The North America 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 North America HVAC Valves Market report:
The North America HVAC Valves Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America HVAC Valves Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America HVAC Valves Market value chain can benefit from the information contained in a comprehensive market report.
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