October 29, 2024 12:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
NEWARK, Del, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The global electronic expansion valves market is projected to witness significant growth over the next decade, expanding from a market value of USD 695.99 million in 2022 to an estimated USD 1.6 billion by 2032, registering a robust CAGR of 8.4% from 2022 to 2032. This growth is predominantly driven by increasing demand for energy-efficient cooling and heating solutions across residential, commercial, and industrial applications. Valve Positioner
Electronic expansion valves (EEVs) offer precise control over refrigerant flow, optimizing the performance of HVAC systems. The increasing emphasis on environmental sustainability and reduction of carbon footprints has prompted the HVAC industry to adopt EEVs, replacing traditional mechanical valves. These electronic valves not only reduce energy consumption but also enable sophisticated temperature control and quick response to fluctuations in load demand.
The adoption of EEVs is gaining traction in developing economies where infrastructure upgrades are promoting advanced HVAC systems, coupled with rising consumer awareness around energy efficiency. Moreover, the ongoing development of smart homes and IoT integration in appliances has expanded the application of EEVs in automated HVAC systems, paving the way for advanced operational performance and seamless integration with digital controls.
In addition, stringent environmental regulations by governments worldwide to reduce greenhouse gas emissions in HVAC systems are further fueling the demand for electronic expansion valves, solidifying their role in the future of eco-friendly building infrastructure.
The Electronic Expansion Valves Market is strongly driven by the growing awareness and demand for energy-efficient systems and the increased adoption of smart technologies in building infrastructure. As global energy regulations tighten, HVAC systems with EEVs are becoming preferred for their ability to optimize energy use, directly contributing to reduced operational costs. Additionally, with the rapid development of smart cities, EEVs' capacity for advanced digital connectivity presents opportunities for market expansion through integration with smart thermostats, IoT, and remote diagnostics.
"As global efforts to reduce energy consumption intensify, electronic expansion valves are emerging as a critical component in modern HVAC systems. Their precision in regulating refrigerant flow aligns well with sustainability goals, offering efficient and controlled temperature solutions, which in turn makes them indispensable to smart buildings and green technology initiatives,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Market Study
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The electronic expansion valves market is segmented by type, primarily comprising thermal expansion and electronic expansion valves. Electronic expansion valves are in higher demand due to their superior control over refrigerant flow, which reduces energy consumption compared to traditional thermal valves. Additionally, the demand is significantly boosted by increased applications in residential and commercial buildings, where EEVs’ responsive adjustment capabilities enhance the efficiency and comfort of HVAC systems.
Who is the Biggest Vendor in the Electronic Expansion Valves Market?
Among global vendors, Danfoss A/S is currently recognized as the leading supplier in the electronic expansion valves market. Known for its advanced HVAC solutions, Danfoss is followed by other key players like Emerson Electric Co., SANHUA, and Parker Hannifin Corp, all of whom provide competitive and sustainable HVAC components for various applications.
Electronic Expansion Valves Market: Report Scope
Market's Prime Determinants of Growth, Trends, and Opportunities
Key Companies & Market Share Insights
The Electronic Expansion Valves Market is highly competitive, with a few prominent players commanding significant market shares. Danfoss A/S leads the market, followed by Emerson Electric Co., SANHUA, Parker Hannifin Corp, and CAREL Industries. These companies are increasingly focusing on innovations, product portfolio expansion, and strategic partnerships to strengthen their market positions.
Regional Analysis of Electronic Expansion Valves Market
Key Segments Profiled in the Electronic expansion valves Industry Survey
The global market for electronic expansion valves should experience significant growth in the next decade, going from a market value of USD 695.99 million in 2022 to an estimated value of 1.6 billion USD by 2032 , recording a robust TCAC of 8.4 % from 2022 to 2032. This growth is mainly driven by the growing demand for cooling and heating solutions Energy economics in residential, commercial and industrial applications.
Electronic delayers (EEV) allow precise control of the refrigerant flow, thus optimizing the performance of CVC systems. The growing importance given to environmental sustainability and the reduction of the carbon footprint has prompted the CVC industry to adopt EEV, replacing traditional mechanical valves. These electronic valves not only reduce energy consumption, but also allow sophisticated temperature control and a rapid response to fluctuations in load demand.
The adoption of EEV is gaining ground in developing economies where infrastructure upgrades promote advanced CVC systems, associated with increasing awareness of consumers with energy efficiency. In addition, the continuous development of intelligent houses and the integration of IoT into household appliances have widened the application of EEVs in automated CVC systems, paving the way for advanced operational performance and transparent integration with orders digital.
In addition, strict environmental regulations imposed by governments around the world to reduce greenhouse gas emissions in CVC systems even more feed the demand for electronic expansion valves, thus consolidating their role in the future of infrastructure of construction respectful of the environment.
Browse the full report here https://www.futuremarketinsights.com/reports/electronic-expande-valves-market
The electronic delay market is strongly stimulated by growing awareness and demand in terms of energy efficient systems and by the increased adoption of intelligent technologies in buildings infrastructure. As global energy regulations are tightened, CVC systems equipped with electronic delayers become privileged for their ability to optimize energy consumption, directly contributing to the reduction of operating costs. In addition, with the rapid development of intelligent cities, the capacity of electronic relaxors to ensure advanced digital connectivity offers market expansion opportunities thanks to integration with intelligent thermostats, IoT and remote diagnostics.
Main points to remember from market research
The electronic relaxation market is segmented by type, mainly including thermal and electronic delayers. Electronic delayers are increasingly requested due to their higher control of refrigerant flow, which reduces energy consumption compared to traditional thermal delayers. In addition, demand is considerably stimulated by increasing applications in residential and commercial buildings, where reactive EEV adjustment capacities improve the efficiency and comfort of CVC systems.
Who is the largest supplier on the electronic expansion valve market?
Among the world suppliers, Danfoss A/S is currently recognized as the main supplier on the electronic relaxation market. Known for its advanced CVC solutions, Danfoss is followed by other key players such as Emerson Electric Co., Sanhua and Parker Hannifin Corp, which all provide competitive and lasting CVC components for various applications.
Electronic relaxation market: scope of the report
"While global efforts to reduce energy consumption is intensifying, electronic expansion valves appear to be an essential component of modern CVC systems. Their precision in the regulation of the refrigerant flow aligns well with the durability objectives, offering effective and controlled temperature solutions, which makes them essential to intelligent buildings and green technology initiatives, "said Nikhil Kaitwade, vice- Associate president at Future Market Insights (IMF).
Main determinants of growth, trends and market opportunities
Information on the main companies and market shares
The electronic relaxation market is very competitive, with a few leading players with significant market share. Danfoss A/S is at the top of the market, followed by Emerson Electric Co., Sanhua, Parker Hannifin Corp and Carel Industries. These companies are increasingly focusing on innovations, expanding their product portfolio and strategic partnerships to strengthen their position on the market.
Regional analysis of the electronic delay market
Key segments presented in the survey of electronic expansion valves sector
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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