Future Market Insights
Expansion Valves are used for to do away with pressure arising from refrigerant and allow the expansion to happen from liquid state to evaporating state. These are primarily used in air conditioners and refrigerators. Large number of vehicles production from automobile industry is expected to bolster the global expansion market.
New Product Launches Expands Global Expansion Valves Market
The global leader in refrigerators and air conditioners “Carriers” launched their factory installed thermal expansion valve in Aero® 39M. This model uses latest technology for anti-microbial to coat inside panel. The same has been registered with the Environment Protection Agency to use ventilation, refrigeration, and heating. Additionally, this model is easy to install, owing to expansion of the global expansion valves market.
New Electric Expansion Valves to Fuel Growth
The new electric expansion valve is a unique cooling device; it offers the best design and instant response time to makes it a utopian choice for the end users. It can quickly react to fluctuating temperature conditions. This further enhances energy efficiency and provides a stable cooling effect to the refrigeration, owing to the growth in the global expansion valves market in the succeeding years.
In terms of region, the market is currently held by developed economies such as U.S, Canada in North America, Argentina and Brazil. The Asia Pacific is emerging as an impressive region due to growth from developing economies from China, India, and South Korea. Therefore the future will witness a large share of market growth from developing countries, pushing the global expansion valves market at a higher level.
Expansion valves are one of the most important parts for automobile air conditioner and control cooling performance and are installed with an evaporator in air conditioning system. The expansion valve maintains proper flow of the refrigerant in the evaporator as per the load inside the evaporator. These are widely used in refrigeration and air conditioning systems.
The air conditioning loop is made of five main components:
Air conditioning equipment’s which were yesterday considered as luxury equipment is more democratic today and equips almost 90% of the new vehicles in Europe. The increasing number of passenger vehicles in the market is one of the major drivers for the surge in demand for automotive expansion valve. For instance, regarding the number of cars sold worldwide increased from 72.61 million in 2015 to 76.86 million in 2016 and increased by almost 1.5% during the same period.
In developing countries, the population will likely move up, the income curve as lower-middle class decreases from 460 Mn to 290 Mn in India, and also the emerging middle, middle-class, and upper-middle classes are increasing in size as the economy moves from developing to developed country. Therefore the increasing vehicle production in the developing countries is one of the major factors for growth in the automotive expansion valve /AC expansion valve market.
Automotive Expansion Valve/AC Expansion Valve Market- Market Dynamics and Restrains
he rise in automotive production and higher requirements of consumers for comfort is expected to drive the market for automotive air conditioning market which will surge the demand for automotive expansion valve/AC expansion valve. Advance in the technology and the increasing demand for vehicles along with rising per capita income are the major factors driving the market during the forecast period.
Further, the market for automatic air conditioning is at a growth stage and with the gradual progress in technology will replace the manual/semi-automatic operated air conditioning system with fully automatic systems. However, with the increase in regulations concerning environment and safety standards will raise the complexity. Growing number of derivatives serving different vehicle segments and markets based on a single platform is also expected to raise the complexity.
Temperature persuaded viscosity changes are known to significantly affect the flow rate in conventional chemical injection control valves, which results in unstable and inaccurate flow. For instance, the FluidCom chemical injection valve and metering controller are fully automated, simple and reliable devices equipped with integrated autonomous valve control.
Manufacturers have come with AC expansion valves with stainless steel power element for corrosion protection along with enhanced diaphragm design for extended life.
Automotive Expansion Valve/AC Expansion Valve Market – Product Segmentation
On the basis of product types the automotive expansion valve/AC expansion market can be further segmented into:
C Type Thermostatic Expansion valve (TXM Valve)
G Type Thermostatic Expansion valve (TXV Valve)
V Type Thermostatic Expansion valve (TMX Valve)
Automotive expansion valve/AC expansion valve market can be segmented on the basis of types of applications, which include:
Light Commercial vehicles
Buses and Coaches
Automotive Expansion Valve/AC Expansion valve market can also be segmented on basis of types of Automotive which include OEM [Passenger Cars (Sedan, SUV, TUV, XUV, Convertibles, Coupes and Others), Light Commercial vehicles (Mini Vans, Wagons and Others), Buses and Coaches and Heavy trucks] and Aftermarket.
Automotive Expansion Valve/AC Expansion Valve Market- Key Players
The Automotive Expansion Valve/AC Expansion Valve Market is fragmented and competitive, with large number of players operating at the regional and local level. Some of the major key players in the market includes,
Mitsubishi Heavy Industries
Sanden Holdings Corporation
Calsonic Kansei Corporation
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