The global pressure reducing valve market size is calculated at USD 2,489 million in 2024 and is predicted to attain around USD 3,978 million by 2034, expanding at a CAGR of 4.8% from 2024 to 2034.
A pressure-reducing valve is an equipment used for decreasing steam or water pressure. It is also used to protect the installation from noises in the splashes, pipes, and premature wear of electrical taps and appliances is extensively used in institutional, residential, industrial, and commercial applications across the world. Significant growth in the oil and gas industry is the key factor driving market growth. Also, key market players are launching flow-modulated PRVs that create consistent pressure at critical points within the system fuelling market growth soon.
Technological developments like IoT integration and the ability of predictive maintenance boost the market by enhancing efficiency, valve performance, and dependability while fulfilling the ongoing demands of business and infrastructure projects. Furthermore, the increasing demand for accurate control across tailored industrial processes such as pharmaceutical production and semiconductor manufacturing is likely to contribute market growth over the forecast period.
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| Stats ID: | 7693 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Price | US$ 1550 |
| Stats ID: | 7693 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Price | US$ 1550 |
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