The global valve driver market size is expected to grow from USD 421 million in 2020 to USD 519 million by 2025, at a CAGR of 4.3%. Increase in government regulations and policies for saving energy and increase in focus on enhancing efficiency and power consumption are the key factors driving the growth of the valve driver market.
A valve driver is a device that either manually or automatically controls, regulates, or restricts the flow of a liquid or gas running through the piping system. Valve drivers function either through external actuation or by virtue of its design. The external actuation can be manual or automatic, depending on the level of automation required by the end user.
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The market for the expansion valve segment is expected to grow at the highest CAGR during the forecast period. The expansion valve segment is estimated to account for the largest share in the valve driver market in 2020. The expansion valve drivers are used for the management of ON/OFF functions. Thus, the conventional valve need not be replaced as these are smart valve drivers, which receive their output data from the communication module and updates the drive ICs every 2 milliseconds. As the major functioning of the valve driver is largely dependent on the end-use industries, it is being implemented. The expansion valve driver plays a major role in improving the efficiency of HVAC/R systems to ensure the sub-cooling of the refrigerant fluid and the superheat adaptive control.
Based on end-use industry, the market for commercial & residential is expected to grow at the highest CAGR during the forecast period. Valve drivers in the HVAC/R sytems play a vital role in the commercial & residential industry for the controling and regulating the flow of a liquid or gas running through the piping system. Due to the rise in global temperature and pollution because of heavy construction activities, HVAC systems have become an integral part of commercial & residential structures. Concerns over the impact on the environment and rise in energy prices have made the use of energy-efficient HVAC systems a necessity in commercial & residential spaces.
The valve driver market has been segmented into North America, Europe, APAC, and RoW. The market in APAC is expected to grow at the highest CAGR from 2020 to 2025 owing to the rapid urbanization and industrialization in developing countries, growing construction, and rising population. Moreover, regulations such as Commercial Building Disclosure (CBD) program (Australia), Energy Conservation Building Coddes (India), LEED-India, and Indian Society of Heating, Refrigerating, and Air-Conditioning Engineers (ISHRAE) are supporting the adoption of HVAC/R systems which in turn is increasing the demand of valve driver market in this region.
Valve Driver Market with COVID-19 Impact, by Function (Solenoid, Proportional), Valve Type (Conventional Control Valve, Expansion Valve), End-User (Commercial & Residential, Industrial, and Motion Equipment), Region - Global Forecast to 2025
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