PUBLISHER: The Insight Partners | PRODUCT CODE: 1666239
PUBLISHER: The Insight Partners | PRODUCT CODE: 1666239
The Asia Pacific hydronic balancing valves market was valued at US$ 391.37 million in 2023 and is expected to reach US$ 669.34 million by 2031; it is estimated to register a CAGR of 6.9% from 2023 to 2031.
Rising Urbanization Worldwide Boosts Asia Pacific Hydronic Balancing Valves Market
Fast-growing emerging nations in Asia and Africa continue to witness high investments in the construction of residential and commercial infrastructure, which fuels the demand for proper building infrastructure and HVAC systems. According to IBEF (Indian Brand and Equity Foundation) data, the real estate industry in India was valued at US$ 1.72 billion in 2019 and expected to reach US$ 9.30 billion by 2040. The development of the real estate industry is fueled by factors such as an increase in the construction of residential, commercial, retail, and hotel units. As a result, the Government of India is likely to invest and focus on various business prospects for infrastructure development in India. According to the IBEF, the government also sanctioned 100% FDIs (Foreign Direct Investment) to develop township and residential settlement infrastructure projects to meet the country's expanding infrastructure requirements. Further, the urban standard of living requires proper, well-maintained residential and commercial building infrastructure, which drives the demand for HVAC systems. Thus, the rising urbanization across the region propels the application of hydronic balancing valves, which fuels the market growth.
Asia Pacific Hydronic Balancing Valves Market Overview
The Asia Pacific hydronic balancing valves market is segmented into China, India, Australia, Japan, and South Korea. The market growth in Asia Pacific is largely attributed to increasing urbanization, along with rising population growth, which is driving the need for smart infrastructure. Additionally, government regulations focused on encouraging the application of energy-efficient heating and cooling solutions are boosting the demand for hydronic balancing valves in Asia Pacific. The region is witnessing growth in numerous real estate projects and public-private investments in several industrial, residential, and commercial development areas due to the rise in urbanization. The need for HVAC services in the residential sector is mostly driven by new installations across the region. Due to increased building and development projects, the installation of air conditioners is rising across Southeast Asia nations, including Vietnam, Thailand, Indonesia, Malaysia, the Philippines, and China, which is anticipated to propel the Asia Pacific hydronic balancing valves market in Asia Pacific over the forecast period.
Asia Pacific Hydronic Balancing Valves Market Revenue and Forecast to 2031 (US$ Million)
Asia Pacific Hydronic Balancing Valves Market Segmentation
The Asia Pacific hydronic balancing valves market is categorized into type, connection type, size, application, and country.
Based on type , the Asia Pacific hydronic balancing valves market is segmented into static balancing valves, fixed-orifice balancing valves, automatic balancing valves, and pressure-independent flow control valves. The static balancing valves segment held the largest market share in 2023.
In terms of connection type, the Asia Pacific hydronic balancing valves market is segmented into flanged, threaded, and others. The flanged segment held the largest market share in 2023.
By size, the Asia Pacific hydronic balancing valves market is segmented into less then 5 inches, 6-10 inches, 11- 20 inches, and above 20 inches. The less then 5 inches segment held the largest market share in 2023.
By application, the Asia Pacific hydronic balancing valves market is segmented into residential, commercial, and industrial. The residential segment held the largest market share in 2023.
By country, the Asia Pacific hydronic balancing valves market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific hydronic balancing valves market share in 2023.
Danfoss AS, Johnson Controls International Plc, Xylem Inc., Victaulic Company, Oventrop GmbH & Co. KG, and Caleffi S.p.a. are some of the leading companies operating in the Asia Pacific hydronic balancing valves market.