North America Thermostatic Mixing Valves Market is estimated to witness a growth rate of 4.2% over the decade - Persistence Market Research
NEW YORK, May 12, 2022 /PRNewswire/ -- The market for thermostatic mixing valves in North America is estimated to witness a growth rate of 4.2% over the decade. With rising awareness due to increasing number of incidental fires (burning) across the region, there has been growing demand for increased safety measures in homes. As a result of the various restrictions put in place by regulatory agencies to ensure safety, there has been an increase in demand for high-performance thermostatic mixing valves.
Companies manufacturing thermostatic mixing valves are looking to expand their production capacities, which will help them enter growing market places and reduce lead times. Expansion of manufacturing capacity and increasing capacity utilization rates are anticipated to have a favorable impact on market growt
Growing investments for infrastructure development and rising awareness regarding scalding injuries have created a huge opportunity for manufacturers of thermostatic mixing valves. Government initiatives and investments toward residential construction, besides commercial construction, have also boosted demand for thermostatic mixing valves.
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Key Takeaways from Market Study
- The North America thermostatic mixing valves market is moderately consolidated, with leading players accounting for over 45% market share.
- Based on application, the residential segment is projected to hold more than ½ share of the in 2022.
- The U.S. is anticipated to remain a prominent market for thermostatic mixing valves, accounting for more than 3/4 demand in 2022.
- Based on valve type, emergency, point-of-use, and standard valves are projected to hold considerable shares in the market.
- Revenue generation from the thermostatic mixing valves in North America is projected to reach US$ 682.1 Mn by the end of 2032.
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"Long-term strategies with plumbing & heating solution providers will result in lucrative market growth," says a Persistence Market Research analyst.
Competitive Landscape
The North American thermostatic mixing valves market is moderately consolidated among leading manufacturers. Prominent players in the market are actively investing a significant share of their turnover in continuous product development, which is an important tool to differentiate themselves from competitors and position themselves in a high-quality niche
Some of the key manufacturers of thermostatic mixing valves are Reliance Worldwide Corporation, Watts Water Technologies, Danfoss A/S, Zurn, Misumi Corporation, and Bradley Corporation.
Conclusion
Valves with automatic temperature adjustment have gained popularity amongst end users in recent times. The advantage associated with these valves are enhanced safety and lesser overall operating & maintenance costs. This has enhanced demand for thermostatic mixing valves across the continent.
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More Valuable Insights Available
Persistence Market Research, a research and consulting firm, has published a new market research report on the North America thermostatic mixing valves market that contains industry analysis of 2017–2021 and opportunity assessment for 2022–2032.
The report provides in-depth analysis of the market through different segments, namely, valve type, nominal diameter, capacity, application, and country. The report also provides supply and demand trends along with an overview of the parent market.
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