Global Study on Thermostatic Mixing Valves Market: Rapid Rise in Demand to Be Seen from Residential Sector
According to recently published statistics on the thermostatic mixing valves market, global sales are anticipated to reach 6.6 million units in 2022, representing a 4.1% year-over-year growth. The global market for thermostatic mixing valves (TMV) is anticipated to grow at a 4.8% CAGR to reach US$1.82 billion in value by 2032.
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Standard thermostatic mixing valves are expected to achieve a CAGR of roughly 3.4% from 2022 to 2032, accounting for between 30% and 35% of the global market value share as of 2022.
The consumption of thermostatic mixing valves (units), according to research by Persistence Market Research, is predicted to expand at a rate of 4.5% through 2032. With a CAGR of 4.3% predicted for the same period, North America is expected to continue to be a significant global thermostatic mixing valves market.
Key Companies-
- Reliance Worldwide Corporation
- MISUMI Group Inc.
- Honeywell International Inc.
- Watts Water Technologies Company
- Danfoss A/S
- Bradley Corporation
- Armstrong International Inc.
- Caleffi S.p.A
- Afriso-Euro-Index GmbH and more
The Thermostatic Mixing Valves Market is projected to grow significantly over the forecast period. This growth can be attributed to its various advantages such as energy saving and safety, cost-effectiveness, and convenience as compared to manual mixing valves. Thermostatic mixing valves are increasingly being used in residential plumbing systems due to their ability to maintain a consistent temperature level thus ensuring more comfortable showers. In addition, these valves have been designed with the latest technology in order to reduce the risk of scalding water. This technological advancement has further driven the adoption of thermostatic mixing valve market during the forecast period.
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Moreover, government initiatives and regulations on increasing awareness related to water borne illnesses are expected to enhance the market growth of this product. The growing awareness of the use of thermostatic mixing valves to deliver safe hot water and prevent scalding has been a driving factor in the Thermostatic Mixing Valves market growth.
The rising demand for smart homes and green buildings is expected to boost the market as well, since thermostatic mixing valves are hailed for their efficiency in helping reduce energy costs. In addition, these systems can be easily integrated with other equipment such as pumps, boilers and solar heating systems, further providing impetus to its adoption in residential and commercial applications.
Overall, increasing awareness about the potential benefits offered by Thermostatic Mixing Valves along with technological advancements are expected to drive Thermostatic Mixing Valves Market growth during the forecast period. Furthermore, rapid urbanization and industrialization are likely to create lucrative opportunities for Thermostatic Mixing Valves Market in the future.
Thermostatic Mixing Valves Market players need to focus on innovative product developments with advanced safety features as well as designs which cater to a variety of residential and commercial applications. Strategic partnerships and collaborations between market players are also expected to be beneficial to increase their market presence in the Thermostatic Mixing Valves market. Leading companies such as Honeywell, Danfoss, Thermo-tec, Thermasol and Stiebel Eltron are expected to remain at the forefront of the Thermostatic Mixing Valves market during the forecast period.
In conclusion, Thermostatic Mixing Valves Market is projected to witness significant growth over the forecast period owing to its various advantages such as safety, cost-effectiveness and convenience. The increasing awareness related to water borne illnesses further boosts this growth. Moreover, it is expected that strategic partnerships and collaborations between market players will be beneficial in order to gain a stronghold in this Thermostatic Mixing Valves Market.
Thermostatic Mixing Valves are expected to remain a key part of the building and residential industries in the future, with increasing demand and potential growth opportunities in store for market participants. This will lead to more cost-effective products as well as advanced safety features being available to customers, thus providing further impetus to Thermostatic Mixing Valves Market in the near future.
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Key Takeaways from Market Study
- Global demand for thermostatic mixing valves is forecasted to reach a value of US$ 1.8 Bn by the end of 2032.
- North America is anticipated to remain one of the key markets accounting for around 42.5% of the global market share.
- By application, the residential segment is anticipated to witness a CAGR of 4.3% over the decade.
- By nominal diameter, the DN 15 segment is expected to grow at a substantial growth rate over the coming years.
- South Asia & Pacific to remain the fastest-growing regional markets through 2032.
“Rising awareness regarding safety from scalding is a key factor behind the growth of the thermostatic mixing valves market,” says a Persistence Market Research analyst.
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