Pressure Reducing Valve Market Report by Type (Direct Acting, Pilot Operated), Operating Pressure (Below 300 Psig, 301-600 Psig, Above 600 Psig), End User (Oil and Gas, Power Generation, Chemical, Water and Wastewater, Metals and Mining, and Others), and Region 2024-2032

Pressure Reducing Valve Market Report by Type (Direct Acting, Pilot Operated), Operating Pressure (Below 300 Psig, 301-600 Psig, Above 600 Psig), End User (Oil and Gas, Power Generation, Chemical, Water and Wastewater, Metals and Mining, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A4180
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Market Overview:

The global pressure reducing valve market size reached US$ 3.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 3.2 Billion
Market Forecast in 2032
US$ 4.3 Billion
Market Growth Rate 2024-2032 3.2%


A pressure reducing valve (PRV) is equipment utilized for reducing incoming water or steam pressure. It is also used to safeguard the installation from noises in the pipes, water hammers, splashes, and premature wear of household electrical appliances and taps. Besides this, it assists in plumbing, conserving water, saving money on utility bills, and extending the lifespan of fixtures and appliances. As it is easy to install and reliable, a PRV is widely employed in residential, commercial, institutional, and industrial applications across the globe.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Pressure Reducing Valve Market Trends:

A considerable expansion in the oil and gas industry, in confluence with the extensive investments in research and development (R&D) activities, represents one of the key factors driving the market. PRVs aid in maintaining pressure in the pipeline and preventing pipes from bursting. They also find application in protecting against leakage and preventing overheating of pipes. As a result, there is a rise in the need for these valves in the petroleum and oil industry around the world. Apart from this, the rising adoption of these valves in fire safety trucks is also supporting the market growth. This can be accredited to their pressure controlling mechanism, which is required during the emission of water. Furthermore, leading players are introducing flow modulated PRVs that produce constant pressure at critical points within the distribution system. This, along with the significant investments in new refineries, development of existing facilities and increasing mergers and acquisitions (M&G), are some of the other factors fueling the market growth. The market is projected to propel in the coming years on account of rapid urbanization and industrialization worldwide. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global pressure reducing valve market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, operating pressure and end user.

Breakup by Type:

 

 
 

 

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  • Direct Acting
  • Pilot Operated
     

Breakup by Operating Pressure:

  • Below 300 Psig
  • 301-600 Psig
  • Above 600 Psig
     

Breakup by End User:

  • Oil and Gas
  • Power Generation
  • Chemical
  • Water and Wastewater
  • Metals and Mining
  • Others
     

Breakup by Region:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Aalberts N.V., Armstrong International Inc., CIRCOR International Inc., Eaton Corporation plc, Forbes Marshall, Honeywell International Inc., KSB SE & Co. KGaA, Parker-Hannifin Corp., Reliance Worldwide Corporation Limited, Spirax-Sarco Engineering plc, TALIS Management Holding GmbH and Watts Water Technologies Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Operating Pressure, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Aalberts N.V., Armstrong International Inc., CIRCOR International Inc., Eaton Corporation plc, Forbes Marshall, Honeywell International Inc., KSB SE & Co. KGaA, Parker-Hannifin Corp., Reliance Worldwide Corporation Limited, Spirax-Sarco Engineering plc, TALIS Management Holding GmbH, Watts Water Technologies Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global pressure reducing valve market was valued at US$ 3.2 Billion in 2023.

We expect the global pressure reducing valve market to exhibit a CAGR of 3.2% during 2024-2032.

The rising utilization of pressure reducing valves across the residential, commercial, institutional, and industrial sectors, as they assists in plumbing, conserving water, saving money on utility bills, etc., is primarily driving the global pressure reducing valve market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for pressure reducing valves.

Based on the type, the global pressure reducing valve market has been segmented into direct acting and pilot operated. Currently, pilot operated holds the majority of the total market share.

Based on the operating pressure, the global pressure reducing valve market has been divided into below 300 Psig, 301-600 Psig, and above 600 Psig. Among these, below 300 Psig currently exhibits a clear dominance in the market.

Based on the end user, the global pressure reducing valve market can be categorized into oil and gas, power generation, chemical, water and wastewater, metals and mining, and others. Currently, oil and gas accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global pressure reducing valve market include Aalberts N.V., Armstrong International Inc., CIRCOR International Inc., Eaton Corporation plc, Forbes Marshall, Honeywell International Inc., KSB SE & Co. KGaA, Parker-Hannifin Corp., Reliance Worldwide Corporation Limited, Spirax-Sarco Engineering plc, TALIS Management Holding GmbH, and Watts Water Technologies Inc.

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Pressure Reducing Valve Market Report by Type (Direct Acting, Pilot Operated), Operating Pressure (Below 300 Psig, 301-600 Psig, Above 600 Psig), End User (Oil and Gas, Power Generation, Chemical, Water and Wastewater, Metals and Mining, and Others), and Region 2024-2032
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