DUBLIN, Feb. 8, 2024 /PRNewswire/ — The “Pinch Valves Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global pinch valves market is estimated to grow at a CAGR of 4.62% during the forecast period.
High demand from automotive bolsters the pinch valves market growth.
Pinch valves are utilized for controlling and regulating fluid flow in coolant systems, fuel systems, pneumatic systems, and brake systems in the automotive. The automotive industry is experiencing significant growth driven by the rising demand for vehicles having improved safety and performance coupled with favourable investment inflows and policies. According to the International Organization of Motor Vehicle Manufacturers, In 2022, commercial vehicle production in Canada reached 939,364 units, reflecting a 10% growth compared to the previous year. Such growth expands the need for reliable control solutions like pinch valves leading to the growth of the pinch valve market.
Emerging food & beverage drives the pinch valves market expansion.
Pinch valves are extensively used in the food & beverage industry due to their hygienic design, easy cleanability, and compatibility with food-grade materials. These valves play a vital role in controlling the flow of liquids and semi-solid substances, ensuring precise portioning, filling, and dispensing in food processing and packaging applications. Owing to the growing global population the demand for processed and packaged food & beverage products is increasing. Thus fuelling the growth of the pinch valve industry. According to the Ministry of Industry and Information Technology, major beverage producers in China experienced a significant year-on-year increase of 12% in their output, surpassing 183 million tons in 2021.
The booming chemical sector drives pinch valves market growth.
Pinch valves are widely used in the chemical industry due to their suitability for handling corrosive chemicals and abrasive fluids. The chemical industry is experiencing growth due to increasing demand for speciality chemicals, expanding manufacturing capabilities, and stringent safety and regulatory standards. Owing to such growth the need for reliable, efficient, and safe flow control solutions intensifies, leading to an increased demand for pinch valves. According to the Department of Chemicals and Petrochemicals, the production of major chemicals in India witnessed notable growth in 2021, reaching a total of 1,05,12,189 metric tons (MT). This represents a significant increase of 14.83% compared to the previous year.
Asia-Pacific region is anticipated to dominate the pinch valves market.
Asia-Pacific is expected to account for a significant share of the pinch valves market due to proactive government initiatives and investments aimed at expanding the food and beverage as well as chemical production capabilities. Moreover, the increasing focus on enhancing infrastructure is further encouraging industrial development. For instance, in the Union Budget 2022-23, the Department of Chemicals and Petrochemicals received an allocation of Rs. 209 crores from the Indian government. Also, in October 2022, through targeted grants, the government of Australia allocated $111.3 million to stimulate regional manufacturing, with a specific focus on expanding food manufacturing capability and capacity across Australia.
Alternative technologies availability restrains the pinch valve market growth.
Pinch valves encounter competition from a diverse range of alternative valve technologies existing in the market, including ball valves, gate valves, and butterfly valves. These alternative options present a variety of features, performance characteristics, and price points, thereby posing a challenge for the pinch valves industry. The availability of alternative valve types with varying functionalities and price considerations adds complexity to the decision-making process for end-users. For instance, in July 2022, Valworx recently launched stainless air-actuated sanitary butterfly valves which are designed with Tri-Clamp ends and are manufactured using materials that adhere to FDA, USDA, and 3-A standards.
- Open Pinch Valves
- Enclosed Pinch Valves
By Sleeve Type
- Standard Sleeves
- Double Wall Sleeves
- Cone Sleeves
- Food & Beverage
- Armaturen & Seperationstechnik GmbH
- WAMGROUP S.p.A
- Red Valve Company Inc.
- Emerson Electric Co.
- Onyx Valve Company
- Takasago Electric, Inc.
- Schubert & Salzer GmBH
- Festo Inc.
- RF Valves, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/3zwend
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SOURCE Research and Markets
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