Electronic Expansion Valves Market: Industry Size, Segments Overview, Business outlook, Trends, Global Forecast 2029
VALLEY COTTAGE, N.Y. – Electronic expansion valves are an evolution on the conventional thermal expansion valves. An electronic expansion valve is a controlling device that is used in air conditioning system and refrigerator. It controls the flow of refrigerant entering a direct expansion evaporator, it is much more systematic and allow the refrigeration system to operate much more efficiently and accurately. The electronic expansion valve is also prevent the flooding in refrigerant to the compressor and ensure that the plant runs without any obstacles or risks such as breakage of the compressor.
Electronic expansion valves helps to in enabling significant energy savings and cost reductions. In electronic expansion valves, a small motor is used to open and close the valve port, this motor is controlled by an electronic controller and does not rotate continuously, it rotate a fraction of a revolution for each signal sent to them by the electronic controller.
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Electronic expansion valves has several benefits as compare to convention thermal expansion valves (TXV), such as precise control, wider part load variation, fast and accurate response to load change, and EEVs maintain maximum capacity control even at part loads. The major advantage of electronic expansion valves that it helps in approximately 15% energy saving, and it also injects right amount of refrigerant.
Electronic Expansion Valves Market: Dynamics
Demand of electronics expansion valves is increasing drastically, owing to its significant benefits over the conventional thermal expansion valves such as energy consumption from the refrigeration system and as well as gaining better performance. Moreover, it allow refrigeration system to operate much more accurately and efficiently, this is a major factor which propelling the growth of electronic expansion valves market. Increasing awareness regarding carbon emission in several regions across the world, resulted in increasing adoption of electronic expansion valves in number end-use industries.
Growth in automotive industry is a significant factor in the growth of electronic expansion valves market, as the air conditioning system are more likely becomes the prime accessory for the vehicles, thereby increasing demand of air conditioning system, creating new growth avenues for expansion of electronic expansion valves in the market.
Electronic Expansion Valves Market: Regional Overview
Electronic expansion valves market is expected to lead by East Asia, owing to increasing consumption as well as production of electronic expansion valves. China is the most prominent country in East Asia which is driving the demand of electronic expansion valves in this region, commonly EEVs applied in household refrigerators and air conditioners. The electronic expansion valves market of Europe is expected to witness a robust growth in electronic expansion valves market, due to the growing industrialization, and increasing number of end-use industries has significant impact on the electronic expansion valves market of Europe.
North America is expected to witness a double-digit growth in electronic expansion valves market, as adoption of electronics expansion valves over the conventional thermal expansion valve is increasing significantly. Moreover, owing to several benefits of EEVs over TXV and increasing awareness regarding environmental impact is driving the electronic expansion valves market in this region.
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South Asia is expected to grow significantly and become a prominent region for the electronic expansion valves market, owing to presence of several emerging countries such as India, Indonesia, and other, which is creating more demand for electronic expansion valves. Latin America and Middle East and Africa is expected to witness a moderate growth in global electronic expansion valves market.
Electronic Expansion Valves Market: Market Participants
Some of the key market players involved in the manufacturing of electronic expansion valves market Sanhua Europe, CAREL INDUSTRIES S.p.A., VOLGA, Danfoss Group, Fujikoki Corporation, Zhejiang DUNAN Artificial Environment co., LTD, Parker-Hannifin Corporation, Emerson Electric Co., and others
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