Expansion Valve Market: Introduction
- Expansion valve is a product which is used to control the flow of refrigerant in a system. The two basic functions of expansion valves are controlling the flow of refrigerant in an evaporator and maintaining the difference between high pressure side (condenser) and low pressure side (evaporator).
- Selection criteria of the various types of expansion valves available in the global market depends on the system it is being used. The increasing demand for refrigeration systems due to growing residential, commercial, hospitality, automobile, and tourism sector will drive the demand for expansion valves during the forecast period.
Key Drivers and Opportunities of the Global Expansion Valve Market
- Expansion valves finds application in various products such as refrigerators, air-conditioners, water chilling plants, deep freezers, and water coolers. Growing industrialization and urbanization have led to the development of various economies. Consumers in developing nations are opting for convenience products which is expected to drive the market of expansion valves during the forecast period.
- The development of commercial spaces such as hotels, hospitals, shopping malls, education institutes, and offices will generate demand for expansion valves during the forecast period. Similarly, the increased consumer spending and development of affordable products has made various end products easily accessible to consumers. Increasing demand for automobiles and introduction of electric vehicles is also likely to fuel the demand for expansion valves during the forecast period.
- Food demand is also increasing with the growing population. Countries and companies around the world are implementing advance methods of storing food and avoiding food wastage. Development of cold storage systems and increasing popularity of frozen foods coupled with increasing number of cold storage stores is expected to further fuel the expansion valve market.
- Manufacturers operating in this market are investing in R&D to introduce new advanced products. Covid -19 impacted the expansion valve market and the market is also impacted due to geo political situations and the fluctuations in raw material prices.
- Growth in e-commerce industry has created huge opportunities for manufacturers and distributors in the global market. Improvement in product offerings & services by manufacturers coupled with penetration in developing nations will fuel the market growth during the forecast period.
Asia Pacific to Hold Major Share of the Global Expansion Valve Market
- In terms of region, the expansion valve market can be divided into North America, Europe, Asia Pacific, Middle East & Africa and South America.
- Asia Pacific holds majority share in the global expansion valve market followed by North America and Europe. Asia Pacific is a growing consumer market and is home to various developing economies. The increasing presence of manufacturers in the region is making end products easily available to consumers. The growing economies in the region will help the expansion valve market flourish during the forecast period.
Key Players Operating in the Global Expansion Valve Market
- Armstrong International, Inc.
- Castel S.r.l.
- Emerson Climate Technologies
- Fujikoki Corporation
- GESTRA AG
- Otto Egelhof GmbH & Co. KG
- Sanhua Holding Group Co., Ltd.
- Siemens AG
- TGK Co. Ltd.
Global Expansion Valve Market: Research Scope
Global Expansion Valve Market, by Type
- Capillary tubes
- Electronic expansion valves
- High-pressure float valves
- Low-pressure float valves
- Thermal expansion valves (TEVs)
- Others (Manual valves, etc.)
Global Expansion Valve Market, by Price
Global Expansion Valve Market, by End-use
Global Expansion Valve Market, by Distribution Channel
- Direct Sales
- Indirect Sales
Global Expansion Valve Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.