Report : Asia Pacific Water Treatment Industry Valves Market Forecast to 2030 - Regional Analysis - by Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, Check Valves, Gate Valves, and Others) and Material Type (Steel Alloys, Stainless Steel, Cast Iron, and Others)
At 6.0% CAGR, Asia Pacific Water Treatment Industry Valves Market is Projected to be Worth US$ 6,757.39 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Asia Pacific water treatment industry valves market was valued at US$ 4,252.58 million in 2022 and is expected to reach US$ 6,757.39 million by 2030, registering a CAGR of 6.0% from 2022 to 2030. Growing number of smart city initiatives and rise in investments in water treatment plants are among the critical factors attributed to drive the Asia Pacific water treatment industry valves market growth.
Smart cities are rapidly evolving as urbanization is increasing. Water and energy are two of the most often used resources in cities. The overuse of these resources is steadily depleting them, which can potentially result in a catastrophic occurrence in the future. Thus, governments and energy corporations across the globe are implementing smart water management, which promotes efficient wastewater management and treatment using technology. A smart city uses technology to enhance operational efficiency and information transfer and improve both the quality of government services and citizen welfare. This technology has proven to lead to prominent improvements in water management, dramatically altering the way cities manage their water supplies. Smart cities use innovative techniques to improve water management, resulting in more efficiency, cost savings, and proactive decision-making. The rise in technology adoption is due to its features that include collecting data, managing operations, and planning upgrades to support the transition to a more efficient and effective utility infrastructure in smart cities. Smart cities optimize water management operations with accurate and real-time data, allowing for increased infrastructure efficiency and resulting in decreased energy usage and expenditures. The integration of computer models, field data, and Supervisory Control and Data Acquisition (SCADA) systems can help streamline operations and identify areas for rehabilitation or improvement in a water system. Owing to the benefits of smart cities, governments of various countries are taking initiatives to develop smart cities. Such initiatives are projected to support the development of smart cities. These smart cities are expected to have a proper smart water management system and treatment activities, which require next-generation valves. Thus, the growing number of smart city initiatives is projected to increase the demand for the next-generation industry valves, which is likely to fuel the market growth in the coming years.
On the contrary, less efficiency in humid environment and high maintenance cost hampers the growth of Asia Pacific water treatment industry valves market.
Based on valve type, the Asia Pacific water treatment industry valves market is segmented into ball valves, butterfly valves, diaphragm valves, safety valves, check valves, gate valves, and others. The ball valves segment held 25.3% market share in 2022, amassing US$ 1,075.29 million. It is projected to garner US$ 1,648.94 million by 2030 to register 5.5% CAGR during 2022-2030.
In terms of material type, the Asia Pacific water treatment industry valves market is segmented into steel alloys, stainless steel, cast iron, and others. The stainless-steel segment held 39.9% share of Asia Pacific water treatment industry valves market in 2022, amassing US$ 1,698.56 million. It is anticipated to garner US$ 2,886.87 million by 2030 to expand at 6.9% CAGR during 2022-2030.
By country, the Asia Pacific water treatment industry valves market is segmented into China, Japan, and the Rest of Asia Pacific. Our regional analysis states that China captured 44.2% share of Asia Pacific water treatment industry valves market in 2022. It was assessed at US$ 1,881.51 million in 2022 and is likely to hit US$ 2,980.01 million by 2030, registering a CAGR of 5.9% during 2022-2030.
Key players operating in the Asia Pacific water treatment industry valves market are Alfa Laval AB, Flowserve Corp, Valco Group, Spirax Sarco Engineering Plc, Velan Inc, KITZ Corp, and Emerson Electric Co, among others.
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