PUBLISHER: The Business Research Company | PRODUCT CODE: 1522263
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522263
A multi-tandem valve is a unit comprising multiple hydraulic valves integrated together to manage the flow and direction of hydraulic fluid in intricate hydraulic systems. This configuration simplifies hydraulic setups by consolidating various valve types such as directional control valves, flow control valves, and pressure control valves into a single, compact, and efficient package.
The primary types of multi-tandem valves include integral multi-tandem valves and shared multi-tandem valves. An integral multi-tandem valve combines multiple valve sections or slides into one integrated unit. These valves find application across industries such as manufacturing, construction, agriculture, oil and gas, mining, and others, where they can be operated manually or automatically.
The multi tandem valve market research report is one of a series of new reports from The Business Research Company that provides multi tandem valve market statistics, including the multi tandem valve industry global market size, regional shares, competitors with multi tandem valve market share, detailed multi tandem valve market segments, market trends, and opportunities, and any further data you may need to thrive in the multi tandem valve industry. These multi tandem valve market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The multi tandem valve market size has grown strongly in recent years. It will grow from $1.32 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth observed in the historic period can be credited to several factors, including the increased adoption of automation, the rise in global energy demand, stricter environmental and safety regulations, the expansion of international trade and global supply chains, and the demand for valve replacement and retrofitting.
The multi tandem valve market size is expected to see strong growth in the next few years. It will grow to $1.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The forecasted growth can be linked to several factors, such as the expansion of the construction industry, growth in manufacturing and production facilities, increased research and development activities, rising agricultural mechanization, growth in the automotive sector, a surge in demand for energy-efficient solutions, and increased infrastructure development. Major trends expected in the forecast period encompass advancements in valve technology, heightened adoption within the energy sector, the emergence of smart valve solutions, expansion in process industries, progress in material science, integration of artificial intelligence, and the development of eco-friendly fluids.
The growing demand for hybrid electric vehicles (HEVs) is expected to drive the expansion of the multi-tandem valve market in the future. HEVs are vehicles that combine a gasoline engine with an electric motor to improve fuel efficiency and reduce emissions. This rise in popularity is driven by environmental concerns, government incentives, and advancements in technology, leading to more efficient fuel usage. HEVs play a crucial role in the adoption of multi-tandem valves as they enhance fuel efficiency, reduce strain on the engine system, and improve valve performance, resulting in overall engine efficiency and lower emissions. For example, in April 2024, Argonne National Laboratory reported that HEV sales in the United States reached 118,435 units (23,179 cars and 95,256 LTs), marking a 17.8% increase from April 2023 sales. Consequently, the growing demand for HEVs is a significant driver for the multi-tandem valve market.
Key players in the multi-tandem valve market are innovating with products such as pressure relief valves to reduce emissions across various industries such as chemical, petrochemical, power, and oil and gas. Pressure relief valves are designed to control or alleviate overpressure levels for optimal system functionality. For instance, in December 2022, Emerson Electric Co. launched two technologies for its Crosby J-Series pressure relief valve (PRV) product line. These valves offer reliable overpressure protection for applications involving air, gas, steam, vapor, liquid, and two-phase substances. The J-Series valves feature innovations such as Balanced Diaphragm technology, eliminating the need for bellows in pressure relief valves and leading to cost savings and improved performance.
In September 2022, Parker Hannifin Corporation, a US-based precision engineering solutions provider, acquired Meggitt PLC for $7.98 billion. This acquisition enhances Parker's aerospace and defense portfolio by incorporating Meggitt's global defense and aerospace technologies, bolstering its product range and capabilities in critical sectors. Meggitt, a UK-based aerospace company, is known for manufacturing multi-tandem valves, including flow control valves.
Major companies operating in the multi tandem valve market are Daikin Industries Ltd., Komatsu Ltd., Eaton Corporation plc, Parker Hannifin Corporation, Emerson Electric Co., Kawasaki Heavy Industries Ltd., Bosch Rexroth AG, Shimadzu Corporation, KYB Corporation, HYDAC International GmbH, Hengli Hydraulic Co. Ltd., Bucher Hydraulics AG, Haldex AB, HAWE Hydraulik SE, Argo Hytos, Linde Hydraulics GmbH & Co. KG, Tokyo Keiki Inc., Metal Work S.p.A., Yuken Kogyo Co. Ltd., Cross Manufacturing Company Inc., Walvoil S.p.A., Hydrosila, Bondioli & Pavesi S.p.A., Doering Company, AMCA Hydraulic
North America was the largest region in the multi tandem valve market in 2023. The regions covered in the multi tandem valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the multi tandem valve market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The multi tandem valve market consists of sales of load holding valves, specialty valves, check valves, pressure control valves, and directional control valves. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Multi Tandem Valve Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on multi tandem valve market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for multi tandem valve ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The multi tandem valve market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.