Global Hybrid Valves Market to Reach $2.1 Billion by 2030
The global market for Hybrid Valves estimated at US$1.4 Billion in the year 2023, is expected to reach US$2.1 Billion by 2030, growing at a CAGR of 6% over the analysis period 2023-2030. Steel Hybrid Valves, one of the segments analyzed in the report, is expected to record a 7.2% CAGR and reach US$786.9 Million by the end of the analysis period. Growth in the Tungsten Carbide Hybrid Valves segment is estimated at 6.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $420.4 Million, While China is Forecast to Grow at 5.5% CAGR
The Hybrid Valves market in the U.S. is estimated at US$420.4 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$360.4 Million by the year 2030 trailing a CAGR of 5.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 4.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.
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