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Market Study on Thermostatic Mixing Valves: Rapid Rise in Demand to Be Seen from Residential Sector
thermostatic mixing valves market
The global thermostatic mixing valves market is estimated to be valued at over US$ 1.1 Bn in 2022. TMV sales are projected to increase at 4.8% CAGR and be valued at around US$ 1.82 Bn by 2032-end. Acquisitions and mergers, expansions, collaborations, and investments in R&D by key players are being witnessed in this industry.
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Thermostatic mixing valves are used in various industries and applications, such as residential buildings, commercial facilities, and industrial complexes. Thermostatic mixing valves are primarily employed to reconcile incoming cold and hot water supplies and deliver a safe, pre-mixed water supply at desired temperatures. Thermostatic mixing valves help maintain these predefined temperatures for an extended period of time.
A thermostatic mixing valve is a device that mixes hot and cold water to deliver water at a pre-set, safe temperature. This type of valve is commonly used in commercial and residential plumbing systems to prevent scalding and minimize the risk of bacterial growth.
The global thermostatic mixing valves market is expected to grow at a significant pace in the coming years. This growth is driven by increasing demand for these valves in residential and commercial buildings, as well as the growing awareness about the importance of water safety.
Key Companies-
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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This research report provides an in-depth analysis of Thermostatic Mixing Valves Market size, share & trends analysis report by product type (mechanical thermostat mixing valve, electric thermostat mixing valve), by application (residential building, commercial facility, industrial complex), by region (North America, Europe, Asia Pacific) and other key segments.
The report also provides company profiles of leading players operating in the Thermostatic Mixing Valves Market. The factors driving the market include increasing investments in energy efficiency improvement projects across major developed economies; rising preference for energy efficient products; stringent safety regulations & standards imposed by governments across various countries; growing construction & renovation activities in residential building sector; government policies & incentives supporting efficient energy utilization in industrial complexes; and rising demand for comfortable environment due to changing lifestyles across major cities worldwide.
On the basis of product type , the global Thermostatic Mixing Valves market is segmented into mechanical thermostat mixing valve and electric thermostat mixing valve. Mechanical thermostat mixing valves accounted for the largest market share in 2019 due to their ease of installation and low cost compared to electric ones. Electric thermostat valves are expected to gain significant traction over the forecast period as they offer superior performance with accurate temperature control through sophisticated automated systems that require minimal manual input from users. Furthermore, technological advancements such as Wi-Fi connectivity allowing for centralized control further boost its market potential over the coming years.
By application type , Thermostatic Mixing Valves market is segmented into residential building segment which accounts for largest revenue share due to increasing number of home renovations & constructions globally; followed by commercial facility segment representing steady growth potential on account of rising focus on HVAC optimization efforts; and lastly industrial complex segment driven mainly by government initiatives & support towards adopting energy efficient technologies & practices in industrial production processes.
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North America represented highest regional Thermostatics Mixing Valves Market share followed by Europe in 2019 on account of supportive regulatory landscape combined with increased investments towards technology upgradation & modernization projects undertaken by governments across both regions. Asia Pacific is estimated to witness healthy CAGR over forecast period mainly owing to presence of large consumer base coupled with rapid urbanization leading to high demand for efficient energy utilization technologies within this region. Furthermore Latin America is estimated garner higher traction owing to easing economic conditions along with increasing awareness among consumer base about advantages offered by Thermo-mixers towards enhancing overall comfort levels especially during extreme weather conditions experienced throughout region throughout year . Additionally Middle East & Africa are projected register steady CAGR over forecast timeframe supported largely by ongoing public-private investment programs aimed at modernizing existing infrastructure setup equipped with latest technologies .
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