Market Outlook:

The global electric expansion valves (EEVs) market was valued at USD XX.XX million in 2023 and is expected to reach USD XX.XX million by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of X.X% during the forecast period of 2024-2032. Market sizes were estimated considering the COVID-19 scenario and the Russia Ukraine war.

Electronic expansion valves (EEVs) are important components in refrigeration systems and air conditioning, which precisely control refrigerant flow and improve the performance and efficiency of HVAC systems. Due to EEVs' superior efficiency, control, and adaptability to various applications, EEVs are preferred more than traditional mechanical valves. Also, the continuous rise in urbanization, increasing awareness about environmental regulations, and increasing adoption of smart technologies in industrial as well as residential applications are influencing the market. In countries like India, where rapid urbanization and industrialization expansions are going on, the rate of adoption of energy-efficient solutions is increasing, which is accelerating the growth of EEVs. 

Market Dynamics:

Driver:

A stipulation for refrigeration system and energy-efficient HVAC due to rigorous environmental regulation imposed by governments and international organizations, are playing the important role in the booming the electric expansion valves (EEVs) market. This trend is closely related to the global push towards reduction of the carbon emission, sustainability, and energy conservation. HVAC system with refrigeration, account for significant portion of the global energy consumption, which lead to carbon emission. As a consequence, regulatory bodies started imposing sticker standards. This led to end-users and manufactures to adopt more energy-efficient technologies. For instance, regulations such as the Kigali Amendment to the Montreal Protocol target the phasedown of hydrofluorocarbons (HFCs), a type of refrigerant commonly used in HVAC systems that has a high global warming potential (GWP). In response to such regulations, manufacturers are transitioning to alternative refrigerants and technologies, including EEVs, which allow for more precise control over refrigerant flow, resulting in better energy efficiency and reduced environmental impact. In addition to regulatory pressures, there is a growing awareness among industries and consumers of the importance of adopting sustainable practices. This shift is largely driven by corporate social responsibility (CSR) initiatives, consumer demand for greener products, and the broader global agenda for reducing carbon footprints. Industries such as automotive, food and beverage, pharmaceuticals, and data centers, which rely heavily on refrigeration and HVAC systems, are actively seeking ways to align their operations with sustainability goals. The use of EEVs in HVAC and refrigeration systems helps businesses achieve these goals by reducing energy consumption, minimizing refrigerant leakage, and lowering emissions. As a result, the global push for sustainability is expected to drive continued demand for EEVs in the coming years.

Restraint:

High initial cost of EEVs system as compared to the traditional thermal expansion valves (TEVs) is the main factor that can hinder the growth of the global EEVs market. TEVs has been used for decades in refrigeration and HVAC systems due to its simple design and low cost. TVEs can work without the need of electronic control or sophisticated sensors. As a result, the manufacturing cost of TEVs are less and they are easy to install, making them popular choice particular in the cost-conscious market.

Opportunity:

The growing acceptance of smart technologies and IoT in HVAC systems presents a specific opportunity for the advancement of Electric Expansion Valve (EEV) solutions. IoT allow HVAC systems to be more efficient, intelligent, and adaptable by connecting various components through data analytics, sensors, and real-time communication, allowing for precise monitoring and control. EEVs, which regulate refrigerant flow, can integrate seamlessly with these smart systems to enhance overall system performance. IoT-enabled EEVs can dynamically adjust refrigerant levels based on real-time conditions, optimizing energy efficiency and reducing wastage, particularly under fluctuating loads common in commercial buildings, hospitals, and data centers. This real-time data exchange allows for predictive maintenance, reducing the risk of system failures, minimizing downtime, and lowering operational costs. Additionally, remote monitoring capabilities facilitated by IoT provide further convenience and control, allowing facility managers to make adjustments from anywhere. As industries increasingly prioritize energy efficiency, sustainability, and operational optimization, especially in regions with high energy costs or strict environmental regulations, the demand for IoT-enhanced EEVs is expected to rise. The integration of AI and machine learning with IoT further expands the potential of EEV systems, enabling predictive analytics to proactively adjust system settings based on historical data and forecasts. As the HVAC industry continues to move towards smart, connected solutions, the role of EEVs will become increasingly critical, offering a clear market opportunity for manufacturers and driving technological innovation in the sector.

Challenge:

The challenge of limited awareness and technical expertise in emerging markets significantly hampers the widespread adoption of Electric Expansion Valves (EEVs), presenting a barrier to market growth and innovation. In many developing regions, HVAC systems have traditionally relied on conventional technologies, such as thermal expansion valves (TEVs), which are more familiar and less complex. This reliance on established methods creates a substantial knowledge gap regarding the advanced capabilities and benefits of EEVs, which include superior energy efficiency, precise refrigerant flow control, and enhanced system performance. Consequently, end-users, including businesses, facility managers, and even HVAC contractors, may lack the understanding required to evaluate the long-term advantages of transitioning to EEV technology.

Key Players:

• Danfoss
• Emerson Electric Co.
• Parker Hannifin Corp.
• CAREL Industries S.p.A.
• SANHUA
• Fujikoki Corporation
• DunAn Microstaq
• VOLGA
• Zhejiang DUNAN Artificial Environment co., LTD
• Other

Segment Insight:

By Type

The global electric expansion valves (EEVs) market is segmented into Electromagnetic expansion valves, Electric expansion valves. Electric expansion valves segment is expected to dominate the EEVs market due to its advanced functionality aligns with the increasing demand for energy-efficient and environmentally friendly HVAC solutions. This segment will experience a significant growth driven by increasing demand for smart HVAC systems, stricter environmental regulations, and the push for energy-efficient solutions across industries. Also, Electromagnetic expansion valves segment is expected to grow moderately due to the increased demand for residential HVAC systems, particularly in emerging markets, where affordability is a key concern. However, their limited precision and adaptability may restrict growth compared to more advanced alternatives.

By Application

By application segment is segmented into air conditioning, refrigeration, and others. Air conditioning segment is expected to dominate the EEVs market during the forecast period due to global acceptance of the energy-efficient HVAC systems in commercial, residential and industrial applications. Increasing urbanization, global temperature, and increasing demand for smart air conditioning technologies are driving this segments growth globally. Moreover, strict environmental regulations of government and international organization increase the use of technologies that reduce emission and consumption of the greenhouse gas, are driving the adoption of EEVs in the air conditioning system. Also, refrigeration segment will experience rapid growth during forecast period, due to rapidly expanding industries, such as pharmaceutical, grocery stores, and cold storage facilities. 

Regional Insight:

The Asia Pacific region is anticipated to dominate the global EEV market due to rapid urbanization, industrialization, and the development of smart cities. Countries such as India, China, and Japan are experiencing specific demand for HVAC systems driven by infrastructure development, growing populations, and rising energy costs. The push for energy-efficient systems in response to environmental concerns, coupled with government policies promoting sustainable urban development, further strengthens the region's dominance. Asia Pacific's large-scale adoption of smart HVAC systems and IoT-enabled technologies also fuels the demand for EEVs, as these valves play a important role in optimizing energy usage and improving system efficiency. Moreover, the market in North America is expected to see steady growth due to continued investments in energy-efficient infrastructure, high demand for smart homes, and increasing retrofitting projects aimed at modernizing old HVAC systems.

Segmentation:

Electric expansion valves (EEVs) Market by Type

• Electromagnetic expansion valves
• Electric expansion valves

Electric expansion valves (EEVs) Market by Application

• Air Conditioning
• Refrigeration
• Others

By Region

North America

• USA
• Canada
• Mexico

Europe

• France
• UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Rest of Asia Pacific

Middle East & Africa

• GCC
• South Africa
• Rest of the Middle East & Africa

South America

• Brazil
• Argentina
• Rest of South America

What to Expect from Industry Profile

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the electric expansion valves (EEVs) market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the global electric expansion valves (EEVs) market.

3. Leading company profiles reveal details of key electric expansion valves (EEVs) market players’ global operations, strategies, financial performance & their recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Electric expansion valves (EEVs) market with forecast for decade by both market share (%) & revenue (USD Million).

FAQ’s

1) What are the major factors driving the growth of the global electric expansion valves (EEVs) market?

• Rising demand for energy-efficient HVAC systems and stricter environmental regulations are the major factors driving the growth of the global electric expansion valves (EEVs) market.

2) What would be the CAGR of global electric expansion valves (EEVs) market over the forecast period?

• The global electric expansion valves (EEVs) market is poised to grow at a CAGR of XX% from 2024 to 2032.

3) Which region will provide more business opportunities for growth of global electric expansion valves (EEVs) market in future?

• Asia Pacific region is expected to create more opportunities in market.

4) Who are the major players dominating the global electric expansion valves (EEVs) market?

• Danfoss, Emerson Electric Co., Parker Hannifin Corp., CAREL Industries S.p.A., SANHUA, Fujikoki Corporation, DunAn Microstaq, VOLGA, Zhejiang DUNAN Artificial Environment co., LTD, Other.

5) What are the segments in the global electric expansion valves (EEVs) market?

• By Type, and By Application are the industry key segments considered for research study.

6) What is the estimated market revenue for global electric expansion valves (EEVs) market in 2032?

The estimated revenue for global electric expansion valves (EEVs) market in 2032 is USD XX million.