Impact of COVID-19 on the valve driver market

MarketsandMarkets Presents Valve Driver Market with COVID-19 Impact, by Function (Solenoid, Proportional), Valve Type (Conventional Control Valve, Expansion Valve), End-User (Commercial & Residential, Industrial, and Motion Equipment), Region - Global Forecast to 2025

The Valve Driver Market size is expected to grow from USD 421 million in 2020 to USD 519 million by 2025, at a CAGR of 4.3%

MarketsandMarkets Presents Commercial & residential end user to hold the largest share of the valve driver market during the forecast period Residential and commercial include apartments, homes, offices, industrial facilities, and others. The increased adoption of HVAC/R systems in the residential segment has led to the growth of the valve drivers market. In situations where the government has set new performance norms to save energy as there focus is to make the machineries or operations more efficient, manufacturers of HVAC/R systems are encouraged to manufacture new versions of those systems, which will increase the demand for the HVAC/R systems.

MarketsandMarkets Presents Valve driver market for proportional valve driver to grow at highest CAGR from 2020 to 2025 The proportional valve drivers are technologically more advanced, which act as an interface for the valve.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=47607837 This allows the benefits of setting up different parameters for the functioning of the valve. In this, the operator can set up the values of the temperature, pressure, or flow of the liquid or gas being passed by the valve. All these setups can be done on the valve drivers themselves; with the help of the valve drivers, the different parameters are applied in the process.

MarketsandMarkets Presents Rising adoption of valve drivers across different end-user such as commercial & residential, industrial and motion equipment to boost demand for valve drivers in APAC APAC is expected to dominate the valve driver during the forecast period. The rapid urbanization and industrialization are increasing the demand for valve driver in the region. However, COVID-19, a global health emergency and an economic crisis, which has impacted the growth of the valve driver market in 2020 adversely. The valve driver market is projected to witness a significant decline as a few of the major end-users are adopting valve drivers.

MarketsandMarkets Presents Few major players in the valve driver market: Danfoss (Europe), Parker Hannifin (US), Emerson Electric Co. (US), Eliwell Controls (Europe), Carel Industries (Europe), MKS Instruments (US), Hydraforce Inc. (US), Hussmann Corporation (US), Sanhua (Spain), and Fujikoki Corporation (Japan)

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