Global Expansion Valves Market By Type (C Type Thermostatic Expansion Valve (Txm Valve), G Type Thermostatic Expansion Valve (Txv Valve), and V Type Thermostatic Expansion Valve (Tmx Valve)), By Application (Oem, Passenger Cars, Sedan, and others), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019-2028

Expansion Valves Market Introduction

Expansion valves are throttling devices used in refrigeration and air conditioning systems to limit the quantity of refrigerant delivered into the evaporator, reducing superheat and allowing the compressor to operate more efficiently. It also prevents refrigerants from rushing into the compressor, ensuring that a plant functions smoothly and safely without any hazard to the compressor. Conditioners are widely used in household and business settings to regulate elements such as air temperature, humidity, and other variables. It is widely used in the automotive sector and is also used in the cold storage industry as well. Electronic expansion valves are gradually losing popularity when compared to thermal expansion valves.

Detailed Segmentation

The global expansion valves market is segmented based on – Product Type, End-Use, and Region. Represented below is a detailed segmental description:

Based on Product Type:

• Automatic Expansion Valves
• Thermostatic Expansion Valves
• Electronic Expansion Valves
• Manual Valves
• Other Product Types

Based on End-Use:

• Industrial
• Residential
• Commercial

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics

Drivers for the Global Expansion Valves Market

Industrial equipment, automotive, and consumer products industries are the biggest end-users of the expansion valve market. The automotive industry is crucial to the expansion valve market’s economic growth. As consumers become more interested in leisure, air conditioner systems are increasingly likely to become a primary vehicle accessory, thereby increasing the demand for air conditioners, aiding the revenue growth of the expansion valves industry.

Presently, with the expanding number of business spaces such as offices, airports, hotels, instructive organizations, and emergency clinics, the need for these products is probably going to increase rapidly as cooling frameworks are now being utilized in more business areas. Urbanization growth and an increase in the number of middle-class consumers more inclined towards luxury services and products are other reasons boosting the industry for expansion valves.

Compared to developed countries, the market for expansion valves is increasing faster in emerging countries. These are also factors expected to aid in augmenting this target market’s expansion in the coming years.

Restraints for the Global Expansion Valves Market

The market for electronic extension valves is at a developing stage, and with continuous advancements in innovation, it is expected to supersede the market for warm extension valves. Public authority guidelines for security and climate build intricacy could potentially harm the market development for extension valves.

Opportunities for the Global Expansion Valves Market

Provincial governments have likewise been assuming a significant role in the automotive industry’s progress, from conventionally fuelled vehicles to battery-operated vehicles, thus creating additional opportunities for revenue growth in the process.

Competitive Landscape

Key players in this market are

• SANHUA Automotive
• Valeo SA
• Hanon Systems
• Denso Corporation
• Mahle GmbH
• Keihin Corporation
• Mitsubishi Heavy Industries
• Subros Limited Calsonic Kansei Corporation
• Sanhua Holding Group Co. Ltd.
• Fujikoki Corporation
• Parker-Hannifin Corporation
• Emerson Electric Co., etc.

Increasing spending on research & development concerned with launching technologically enhanced expansion valves is a primary strategy of tier-1 players in the global expansion valves market.

Key developments

2021:
Weiss Technik, manufacturers of environmental test chambers, demonstrated the drawn-out similarity of Danfoss AKV extension valves with its recently evolved cryogenic refrigerant R469A.
Dunn Microstaq increased its Electronic Expansion Valve item family from sub 1 ton to 50 tons cooling limits with independent detecting and refrigerant control innovation.

2019:
Sanhua has fostered LPF electronic refrigeration development valve in two renditions for HFO/HFC refrigerants and CO2.