Integration of IoT in HVAC Systems to Fuel IoT Valve Market Growth During Forecast Period
According to our latest study, "IoT Valve Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Connectivity, Type, End User, and Geography," the market was valued at US$ 1.29 billion in 2023 and is expected to reach US$ 2.85 billion by 2031; it is estimated to record a CAGR of 10.4% from 2023 to 2031. The report includes growth prospects owing to the current IoT valve market trends and their foreseeable impact during the forecast period.
IoT is highly efficient in automating HVAC operations. In an IoT-powered HVAC system, sensors collect data from various data points, which is then processed and delivered back to devices such as valve cards retrofitted at various points of an existing HVAC system as instructions. These devices then apply these instructions to modulate several HVAC system components, including the chilled water valve. In a large commercial building, IoT valves can regulate the flow of chilled water in a central cooling system. By adjusting the flow based on real-time temperature data and occupancy levels, these smart valves ensure that only necessary areas are cooled. Also, IoT valves equipped with sensors can monitor the performance of HVAC systems and detect issues such as pressure drops, leaks, or blockages. This data is sent to a central system that can predict when maintenance is needed, preventing costly breakdowns and ensuring the HVAC system operates efficiently.
IoT Valve Market Analysis — by Region
IoT Valve Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Connectivity (Wired and Wireless), Type (Pressure Independent Control Valve (PICV), Regular Valve, and Energy Valve), Regular Valve (Ball Valve, Butterfly Valve, Safety Valve, and Others) , End User (Industrial, Commercial, and Residential), and Geography
IoT Valve Market Size, Share, Scope, and Report by 2031
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Source: The Insight Partners Analysis
In smart homes, IoT valves can be part of a larger ecosystem that includes thermostats, lighting, and security systems. For instance, when the homeowner leaves the house, the smart home system can reduce the flow of heating or cooling to save energy. On the other hand, it can pre-condition the home to the desired temperature before the homeowner returns. IoT valves offer various benefits in HVAC systems, such as reduced energy consumption, lower maintenance costs, and better air quality. Hence, the integration of IoT in HVAC systems is expected to create various opportunities in the IoT valves market growth.
Klinger Schoneberg GmbH; KTW Technology GMBH; Carrier Global Corp; Belimo Aircontrols (Can.) Inc, IMI Plc; Ultra Clean Holdings Inc; Siemens AG; Flowserve Corp; Honeywell International Inc; Larsen & Toubro Ltd; Belimo Holding AG; Smart Wires Inc; Flow Dynamics LLC; IoT Technologies; ChengDu ZhiCheng Technology Co., Ltd.; Teksun Inc.; Autorun Control Valve Co.;Ltd., Ham-Let Group; and Rusco are among the key players profiled in the IoT valve market report. Several other major players were also studied and analyzed during the market study to get a holistic view of the market and its ecosystem.
The report includes the IoT valve market forecast based on connectivity, type, end user, and geography. In terms of connectivity, the market is bifurcated into wired and wireless. The wired segment held a larger IoT valve market share in 2023. The geographic scope of the IoT valve market report entails North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Taiwan, and Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). Asia Pacific dominated the market in 2023, followed by North America and Europe.
The wired IoT valves can connect with one standard Ethernet cable that provides power and allows data transmission. Various players worldwide provide wired IoT valves. For example, Brennaninc provides IoTH-800 series IoT valves, which are offered in both wired and wireless configurations. The IoTH-800 smart valve provides the ability to predict events and indicate when equipment maintenance is required. Similarly, BELIMO AIRCONTROLS provides various wired IoT energy valves of several series, including EV100+AKRX-E N4HH, EV100+AKRX-E N4HT, EV100+ARX-E N4, and EV100+ARX-E N4HT. Thus, the growing demand for IoT valves across several countries propels the growth of the wired segment in the IoT valve market.
Asia Pacific held significant IoT valves market share in 2023. Asia Pacific has a robust oil and gas industry. The rise in population and industrial growth have been propelling energy demands in the region. According to the International Energy Agency (IEA), the energy demand in Southeast Asia rose by an average of 3% every year from 2000 till 2020. It is further expected to grow at an average of 5% every year till 2030. As a result, governments in Southeast Asian countries emphasize expanding their oil production units by introducing new refineries and expanding the production capacity of the existing oil refineries. According to the Energy Information Administration (EIA), at least nine refinery projects are scheduled for completion by the end of 2030 in Asia and the Middle East. Thus, the need for IoT valves in plants and refineries increases with the expansion of oil production capacities in Asia Pacific.
Europe has a presence of leading drug manufacturers. The region consists of 36 national pharma associations and 39 leading pharmaceutical companies. Switzerland is the main producer of pharmaceutical products in Europe. These factors bolster the demand for IoT valves in the region. Further, governments of several countries are investing in automating manufacturing businesses and their business operations in the region. In July 2021, the UK government announced an investment of US$ 59.3 million (GBP 53 million) to develop digital manufacturing technologies. In addition, US$ 28.10 million (GBP 25 million) will be invested in setting up five new research centers to accelerate the development of digital solutions that can transform manufacturing businesses. In smart manufacturing, IoT valves can regulate the flow of steam, gases, and liquids used in various processes. With the growing government investments in automating manufacturing businesses, the demand for IoT valves is increasing.
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