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Thermostatic Mixing Valves Market
thermostatic mixing valves market
The global thermostatic mixing valves market is estimated to be valued at over US$ 1.1 Billion in 2022. TMV sales are projected to increase at 4.8% CAGR and be valued at around US$ 1.82 Billion by 2032-end.
Growing awareness for protection against scalding injuries and innovation of lead-free TMVs are key growth factors for the market. Acquisitions and mergers, expansions, collaborations, and investments in R&D by key players are being witnessed in this industry. The Germany TMV market in is set to expand at 4.7% CAGR through 2032. The U.K., U.S., Italy, and China are major producers and exporters of TMVs.
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Market growth is anticipated to be driven by rise in urbanization, growing construction sector, and increasing demand for smart plumbing solutions. High use of thermostatic mixing valves in the residential sector has been prominently driving market growth over the past few years. However, demand is expected to increase further due to new laws by various regulatory bodies to use thermostatic mixing valves for plumbing applications.
The Thermostatic Mixing Valves Market is a rapidly growing and competitive industry. Thermostatic mixing valves are used in water systems to maintain a consistent temperature and prevent dangerous fluctuations. Used in both domestic and commercial applications, they are able to efficiently regulate the temperature of flowing water, which can be critical in certain settings such as healthcare or industrial applications.
Factors driving growth of the Thermostatic Mixing Valves market include increasing demand for temperature control systems across various industries, growing popularity of energy-efficient systems, increased adoption of automated systems due to their ability to reduce operational costs and provide better accuracy, rising awareness about safety regulations for buildings, and implementation of stringent emission control standards by governments across the world. Furthermore, technological advancements have enabled manufacturers to produce highly efficient thermostatically controlled valves that can handle varying temperatures with ease, resulting in significant growth potential for this sector over the forecast period.
Reliance Worldwide Corporation MISUMI Group Inc. Honeywell International Inc. Watts Water Technologies Company Danfoss A/S Bradley Corporation Armstrong International Inc. Caleffi S.p.A Afriso-Euro-Index GmbH Pegler Yorkshire ESBE Group Hans Sasserath GmbH & Co. KG Bianchi F.lli S.P.A Leonard Valve Company Geann Industrial Co. Ltd. and more
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The COVID-19 pandemic negatively impacted global demand for thermostatic mixing valves. A significant drop in residential & commercial construction hampered market growth in FY2020. However, with increasing vaccination pace and decreasing COVID-19 cases, coupled with government schemes, tax reliefs, and other initiatives to uplift the economy, the thermostatic mixing valves market is set to regain its normal growth path within the next few quarters.
Key Takeaways from Market Study
Global demand for thermostatic mixing valves is forecasted to reach a value of US$ 1.8 Bn by the end of 2032. North America is anticipated to remain one of the key markets accounting for around 42.5% of the global market share. By application, the residential segment is anticipated to witness a CAGR of 4.3% over the decade. By nominal diameter, the DN 15 segment is expected to grow at a substantial growth rate over the coming years. South Asia & Pacific to remain the fastest-growing regional markets through 2032.
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Major Highlights of Thermostatic Mixing Valves Market Report:
Thermostatic Mixing Valves Market analysis report offers an in-depth study of the potential market growth opportunities and challenges. The report dives deeper into the market and explains the dynamic factors bolstering market growth. The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period. The report analyzes Thermostatic Mixing Valves Market presence across major regions of the world. It determines the production & consumption capacities and demand & supply dynamics of each regional market. The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies. It provides company overview and SWOT analysis of each of the market players.
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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – 'The Way Forward'.
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