PICVs’ share of valve market set to grow

PICVs, BSRIA

Pressure-independent control valves (PICVs) are expected to nearly double their share of a growing market for valves in Europe — according to a market survey by BSRIA of the hydronic controls market in France, Germany, Italy, Poland and the UK. This market is collectively worth some €2 billion, and its volume is forecast to grow at a compound annual rate of 2.7% up to 2017. The share by volume of PICVs is expected to reach 12% in 2018 compared to 7% in 2013,

The expected growth is partly due to the strong impetus to improve energy efficiency. The actuator market will grow at about 3% a year (compound), experiencing stronger pull from the retrofit market, and demand will be strongest for thermostatic heads and thermal/thermo-electric actuators rotary ball valve actuators.

The BSRIA survey covered residential and commercial vales, valve actuators, controllers and room thermostats. The rest of Europe is estimated to account for as much again, indicating a market worth about €4 billion across the whole of Europe.

Germany accounts for 33% of the market in the five countries survey, with the UK close behind at 30%.

Some 73 million valves were sold in these five markets in 2013, of which about 76% were radiator valves. Whilst growth in the radiator market remains static in volume terms, manufacturers have managed to keep prices up so that the market grew about 2.8% in volume, driven by demand for more energy-saving control requirements in buildings.

More than 2.9 million valves were sold to the commercial sector in 2013, 86% of which were for small valves of DN25 or smaller. The next most popular category was for valves between DN25 and DN50. Due to the replacement market, the number of actuators sold can always be expected to exceed the number of valves sold.

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