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Global Electronic Expansion Valve Market growing at a CAGR of 8.6% from 2023 to 2030

Category : Semiconductor And Electronics | Published Date : Jun 2023

Key Market Overview

The Global Electronic Expansion Valve Market was valued at USD 673.72 Million in 2022 and is expected to register a compound annual growth rate of 8.6% to reach USD 1,279.12 Million in 2030.

The report highlights the increasing adoption of electronic expansion valves in automotive, commercial, and industrial sectors. Consegic Business Intelligence provides an inclusive research report on the electronic expansion valve market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.

Global Electronic Expansion Valve Market By Overview

Global Electronic Expansion Valve Market

The report analyses significant segments such as material, end-user, and region, to identify emerging trends and potential opportunities. The material segment is expected to grow due to the increasing adoption of stainless steel electronic expansion valves in automotive and industrial sectors among others. Moreover, the deployment of copper electronic expansion valves for air conditioning applications in commercial and industrial sectors is expected to drive the market growth during the forecast period.

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Market Dynamics

Driver:

 

  • Rising utilization of electronic expansion valves in commercial sector is driving the growth of the market.
  • Growing automotive industry is spurring the demand of electronic expansion valves.

 

Restraints:

  • Instability in raw material prices is restraining the growth of the market.
  • Availability of substitutes is limiting the growth of the market.

Market Segmentation:

Report Attributes Report Details
By Material Stainless Steel, Copper, Brass, and Others
By End-User Automotive, Residential, Commercial, and Industrial
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The global electronic expansion valve market is highly competitive due to the presence of major players such as Sanhua, Danfoss, Carel Industries S.P.A., Emerson Electric Co., and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in electronic expansion valve market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.

  • Sanhua
  • Danfoss
  • CAREL INDUSTRIES S.p.A.
  • PARKER HANNIFIN CORP
  • SAGINOMIYA SEISAKUSHO, INC.
  • Zhejiang DUNAN Artificial Environment co., LTD
  • Emerson Electric Co.
  • Siemens
  • FUJIKOKI CORPORATION
  • Castel S.r.l.