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Market development trend of 5 types of supporting products in HVAC industry (Part 2)
3. Compressor valve
Compressor valves are usually round and include a series of discs between the valve seat and the valve cover. Whenever the pressure changes, the disc is pushed to the high pressure area, and when the pressure drops to the normal range, the disc returns to its position under the action of the spring. The compressor valve is used to push the movement of the gas in the cylinder. The operation of these valves is primarily dependent on changes in pressure.
The compressor valve is an important part of the compressor. With the growing demand in the Asia-Pacific region, manufacturers are moving their production bases to the region, which is of course one of the main reasons for the growth of compressor valves in the Asia-Pacific region. In the future, the Asia Pacific market is expected to grow at a compound annual growth rate (CAGR) of 5.8%.
Based on the recovery of stalled infrastructure projects, demand for environmentally friendly products, and technological innovations, the compressor valve market is expected to show growth in the future. Industry suppliers are spending the majority of their revenue on research and development to keep up with the competition. The use of new anti-corrosion materials in production, the use of ultra-high-speed motors and a focus on extending service life are key innovations. The natural gas, petrochemical industries, hydrogen stations, refrigeration industries and petroleum refining industries rely heavily on piston compressor valves.
Economic growth and continued development of alternative energy sources are expected to drive global electricity and energy demand. These factors have led to the growth of compressor valve applications in different industrial fields. By application, the market can be segmented into oil and gas, power plants/power stations, metallurgy and mining, and others, such as food and beverages, shipping, chemicals, petrochemicals, pharmaceuticals, and others. The oil and gas sector is expected to grow at a CAGR of 5.7%.
The compressor valve market can be segmented on the basis of product type, application, and region. From the perspective of product type, the plate valve has the fastest growth rate. Cone Valve is also closely behind, with an increase of 5.5% expected. The poppet valve is economical and easy to install. These valves are designed to perform well under extreme conditions and are dust-tight for long life. The major factors contributing to the growth of the compressor valve market are the growth in the oil and gas industry, metallurgy and mining, and power industries. China, India and Japan are the fastest growing countries in Asia Pacific.
4. Air purifier
Air purification systems are used to remove pollutants from indoor air. These systems are specially designed for use by allergy sufferers and asthma sufferers, and of course, also reduce or eliminate dust, secondhand smoke and smog. The fundamental difference between an air purifier and an air cleaner is that the latter is equipped with a fan, which is noisy and expensive, while the former is silent and has lower maintenance costs.
HEPA technology leads the global air purification system market with 70% market share, followed by activated carbon, electrostatic precipitator and UV light air purifiers. HEPA filters can filter fine pollutants as small as 0.3 microns and provide 99.97% pollution-free air, which is the most popular technology in air purification systems. The market for ionic air purifiers has been slow to develop due to the disadvantage of releasing ozone.
Dust collectors (exhaust filtration) remove dust impurities and other allergen particles from the air or gas. The demand for such air purification systems is on the rise and it will continue to dominate the market based on the development of the industrial and commercial sectors in different regions. The main reason for the growth of this category of products is the need to remove indoor air impurities. With automotive and industrial development, smoke collectors are expected to become the second largest product category. Other products are expected to develop steadily in the future market.
Air purification systems are widely used in industrial, residential and commercial fields. In 2016, the industrial field was the largest application terminal and is expected to continue to be the largest market, accounting for nearly 40%. The rapid development of the medical, hospitality and tourism industries has driven the air purification systems market. In the future, the compound annual growth rate (CAGR) of commercial air purification systems will exceed 8%.
5. Air quality monitoring equipment
The global air quality monitoring equipment market will witness a compound annual growth rate (CAGR) of 8.41% from 2018 to 2026, reaching USD 7.668 billion by 2026. The air quality monitoring equipment market will continue to be affected by the sharp rise in air pollution levels globally, especially in emerging economies such as China and India. Market demand in Europe remains at the top of the global market, with a CAGR of over 6.8% for the market in this region by 2026.
Product categories in the air quality monitoring equipment market include air pollution samplers, anemometers, gas analyzers and detectors, particle counters, and others. Gas analyzers and detectors accounted for the largest share of total sales in 2017, mainly due to the widespread use of the equipment for indoor and outdoor air quality monitoring by different end users. The growth of the gas analyzer and detector equipment market is expected to be as high as 8.84% CAGR.
From the perspective of end users, the air quality monitoring equipment market can be divided into power, oil and gas, pharmaceutical, construction, chemical, and others. The chemical segment is the fastest growing market, mainly based on the growing demand for ambient air quality monitoring in the chemical industry. The market in the chemical sector will grow at a healthy rate of 9.57% CAGR.
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