According to a market report by Lucintel, the future of the global electronic expansion valve market looks promising with opportunities in the home inverter air conditioner and commercial air conditioning & heat pump markets. The global electronic expansion valve market is expected to reach an estimated $1.1 billion by 2030 with a CAGR of 7.7% from 2024 to 2030. The major drivers for this market are increasing demand for electronic expansion valves in the refrigeration and air conditioning industries, growth in the automotive industry, and rising awareness of carbon emission in different regions.
A more than 150 – page report is developed to understand Trends, opportunity and forecast in electronic expansion valve market to 2030 by product type (electromagnetic EEV and electric eev), application (home inverter air conditioner, commercial air conditioning & heat pump, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
In this market, electromagnetic EEV and electric EEV are the major segments of electronic expansion valve market by product type. Lucintel forecasts that electric EEV is expected to witness the higher growth over the forecast period because it offers better efficiency of electrically driven EEVs and growing demand for the electronic expansion valve.
Within this market, commercial air conditioning & heat pump will remain the larger segment due to widespread use of the device in data centers, manufacturing sites, hypermarkets, and other environments for space cooling applications.
North America will remain the largest region over the forecast period due to increase in regional government efforts to encourage the installation of more energy-efficient air conditioning systems and lower energy consumption.
Sanhua, Carel Industries, Parker Hannifin, Curtiss-Wright, Alfa Laval, Valvitalia, Avk Flow Control, Apollo Valves, Ham-Let Group, and Samson Controls are the major suppliers in the electronic expansion valve market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]