Pressure Reducing Valve Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Pressure Reducing Valve Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global pressure reducing valve market size reached US$ 3.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.45% during 2022-2028.

A pressure reducing valve (PRV) is equipment utilized for reducing incoming water or steam pressure. It is also used to safeguard the installation from noises in the pipes, water hammers, splashes, and premature wear of household electrical appliances and taps. Besides this, it assists in plumbing, conserving water, saving money on utility bills, and extending the lifespan of fixtures and appliances. As it is easy to install and reliable, a PRV is widely employed in residential, commercial, institutional, and industrial applications across the globe.


Pressure Reducing Valve Market Trends:
A considerable expansion in the oil and gas industry, in confluence with the extensive investments in research and development (R&D) activities, represents one of the key factors driving the market. PRVs aid in maintaining pressure in the pipeline and preventing pipes from bursting. They also find application in protecting against leakage and preventing overheating of pipes. As a result, there is a rise in the need for these valves in the petroleum and oil industry around the world. Apart from this, the rising adoption of these valves in fire safety trucks is also supporting the market growth. This can be accredited to their pressure controlling mechanism, which is required during the emission of water. Furthermore, leading players are introducing flow modulated PRVs that produce constant pressure at critical points within the distribution system. This, along with the significant investments in new refineries, development of existing facilities and increasing mergers and acquisitions (M&G), are some of the other factors fueling the market growth. The market is projected to propel in the coming years on account of rapid urbanization and industrialization worldwide.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global pressure reducing valve market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, operating pressure and end user.

Breakup by Type:

Direct Acting
Pilot Operated

Breakup by Operating Pressure:

Below 300 Psig
301-600 Psig
Above 600 Psig

Breakup by End User:

Oil and Gas
Power Generation
Chemical
Water and Wastewater
Metals and Mining
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aalberts N.V., Armstrong International Inc., CIRCOR International Inc., Eaton Corporation plc, Forbes Marshall, Honeywell International Inc., KSB SE & Co. KGaA, Parker-Hannifin Corp., Reliance Worldwide Corporation Limited, Spirax-Sarco Engineering plc, TALIS Management Holding GmbH and Watts Water Technologies Inc.

Key Questions Answered in This Report

1. How big is the global pressure reducing valve market?
2. What is the expected growth rate of the global pressure reducing valve market during 2023-2028?
3. What are the key factors driving the global pressure reducing valve market?
4. What has been the impact of COVID-19 on the global pressure reducing valve market?
5. What is the breakup of the global pressure reducing valve market based on the type?
6. What is the breakup of the global pressure reducing valve market based on the operating pressure?
7. What is the breakup of the global pressure reducing valve market based on the end user?
8. What are the key regions in the global pressure reducing valve market?
9. Who are the key players/companies in the global pressure reducing valve market?