At 6.3% CAGR, South & Central America IoT Valves Market is Projected to be Worth US$ 45.84 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the South & Central America IoT valves market was valued at US$ 28.04 in 2023 and is expected to reach US$ 45.84 million by 2031, registering a CAGR of 6.3% from 2023 to 2031. Integration of IoT in HVAC systems and increasing integration of IoT with blockchain are among the critical factors attributed to the South & Central America IoT valves market expansion.

IoT is highly efficient in automating HVAC operations. In an IoT-powered HVAC system, sensors collect data from various data points, which are then processed and delivered back to devices such as Valve cards retrofitted at various points of an existing HVAC system as instructions. These devices then apply these instructions to modulate several HVAC system components, including the chilled water valve. In a large commercial building, IoT valves can regulate the flow of chilled water in a central cooling system. By adjusting the flow based on real-time temperature data and occupancy levels, these smart valves ensure that only necessary areas are cooled. Also, IoT valves equipped with sensors can monitor the performance of HVAC systems and detect issues such as pressure drops, leaks, or blockages. This data is sent to a central system that can predict when maintenance is needed, preventing costly breakdowns and ensuring the HVAC system operates efficiently.

In smart homes, IoT valves can be part of a larger ecosystem that includes thermostats, lighting, and security systems. For instance, when the homeowner leaves the house, the smart home system can reduce the flow of heating or cooling to save energy. On the other hand, it can pre-condition the home to the desired temperature before the homeowner returns. IoT valves offer various benefits in HVAC systems, such as reduced energy consumption, lower maintenance costs, and better air quality. Hence, the integration of IoT in HVAC systems is expected to create various opportunities in the IoT valves market.

On the contrary, the high cost of IoT valves hampers the growth of South & Central America IoT valves market.

Based on connectivity, the South & Central America IoT valves market is bifurcated into wired and wireless. The wired segment held 64.1% share of the South & Central America IoT valves market in 2023, amassing US$ 17.97 million. It is projected to garner US$ 28.14 million by 2031 to expand at 5.8% CAGR during 2023-2031.

Based on type, the South & Central America IoT valves market is segmented into pressure independent control valve (PICV), regular valves, and energy valves. The pressure independent control valve (PICV)segment held 45.9% share of the South & Central America IoT valves market in 2023, amassing US$ 12.86 million. It is projected to garner US$ 20.00 million by 2031 to expand at 5.7% CAGR during 2023-2031. The regular valves segment is further sub segmented into ball valve, butterfly valve, safety valve, and others.

Based on end use industry, the South & Central America IoT valves market is segmented into industrial, commercial, and residential. The industrial segment held 63.7% share of the South & Central America IoT valves market in 2023, amassing US$ 17.85 million. It is projected to garner US$ 30.46 million by 2031 to expand at 6.9% CAGR during 2023-2031.

Based on country, the South & Central America IoT valves market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil held 59.1% share of South & Central America IoT valves market in 2023, amassing US$ 16.56 million. It is projected to garner US$ 28.53 million by 2031 to expand at 7.0% CAGR during 2023-2031.

Key players operating in the IoT valves market are Klinger Holding GmbH; KTW Technology GMBH; Carrier Global Corp; Belimo Holding AG; IMI Plc; Ultra Clean Holdings Inc; Siemens AG; Flowserve Corp; Honeywell International Inc; Larsen & Toubro Ltd; Smart Wires Inc; Flow Dynamics LLC; IoT Technologies; ChengDu ZhiCheng Technology Co., Ltd.; Teksun Inc.; Autorun Control Valve Co., Ltd.; Ham-Let Group; and Rusco, among others.

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