Report : North America 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 4.5% CAGR, North America Water Treatment Industry Valves Market is Projected to be Worth US$ 3,435.69 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the North America water treatment industry valves market was valued at US$ 2,411.75 million in 2022 and is expected to reach US$ 3,435.69 million by 2030, registering a CAGR of 4.5% from 2022 to 2030. Rapid urbanization and rise in investments in water treatment plants are among the critical factors attributed to drive the North America water treatment industry valves market growth.
Urbanization is the concentration of human populations in distinct locations. This concentration results in the conversion of land for residential, commercial, industrial, and transportation use. According to the updated list of urban areas provided by the United States Census Bureau in December 2022, the US urban population increased by 6.4% between 2010 and 2020. Urban areas have become denser because of urbanization, with an average population density rising from 2,343 in 2010 to 2,553 in 2020. Per the 2020 Census statistics, 36 new urban areas were classed as rural in 2010. The West region of the US remained the most urban of the country's four census areas, with 88.9% of its inhabitants living in cities, followed by the Northeast region with 84.0%. As more people relocate to cities, the demand for water and its consumption increases. According to the United Nations, buildings are responsible for ~12% of global water usage. Industries also require water to run their operations. The gear and equipment used in manufacturing, mining, and agriculture applications require enormous volumes of water. As more industries are built in cities as a part of urbanization, the demand for water increases. According to data given by the United States Environmental Protection Agency, a family in the US consumes more than 300 gallons of water each day at home. As a result, increased water consumption directly leads to high demand for water purification and filtration plants. Increased demand for the water treatment plants led to new treatment projects ultimately driving the industrial valve demand. Therefore, rapid urbanization is a key factor driving the water treatment industry valves.
On the contrary, less efficiency in humid environment and high maintenance cost hampers the growth of North America water treatment industry valves market.
Based on valve type, the North America 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 25.7% market share in 2022, amassing US$ 620.44 million. It is projected to garner US$ 820.07 million by 2030 to register 3.5% CAGR during 2022-2030.
In terms of material type, the North America water treatment industry valves market is segmented into steel alloys, stainless steel, cast iron, and others. The stainless-steel segment held 40.5% share of North America water treatment industry valves market in 2022, amassing US$ 975.91 million. It is anticipated to garner US$ 1,492.15 million by 2030 to expand at 5.5% CAGR during 2022-2030.
By country, the North America water treatment industry valves market is bifurcated into the US and the Rest of the North America. Our regional analysis states that the US captured 70.7% share of North America water treatment industry valves market in 2022. It was assessed at US$ 1,704.62 million in 2022 and is likely to hit US$ 2,487.44 million by 2030, registering a CAGR of 4.8% during 2022-2030.
Key players operating in the North America water treatment industry valves market are Alfa Laval AB, Flowserve Corp, Spirax Sarco Engineering Plc, Velan Inc, KITZ Corp, Emerson Electric Co, American AVK Co, and DeZURIK Inc., among others.
- In April 2021, rapidly expanding refrigeration and air conditioning wholesaler, TF Solutions, is stocking Mitsubishi Electric products in all its branches. These products include e-series chillers, heat pumps, air handling units etc.
- In September 2021, Innovative air conditioning solution from Carrier Global Corporation is helping to ensure comfort and optimal ventilation in the historic Raphael Rooms. Company has installed energy-efficient Carrier AquaSnap 30RQV chillers in a location which is unnoticeable to the visitors.
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