Summary

The thermostatic mixing valves market in North America is set for steady growth over the next decade. Leading this market is the United States, which holds a substantial portion of the regional market share. The market's expansion is driven by increasing demand from various end-use industries, including residential, commercial, and industrial sectors. In 2024, the market is projected to reach a value of $488.992 million, and by 2031, it is expected to grow to $658 million, reflecting a CAGR of 4.3%.

Market Trends and Growth Analysis

The North American TMV market has experienced sluggish growth recently, largely due to the COVID-19 pandemic's impact. However, the market is now poised to grow at a faster pace, driven by increased demand from diverse industries. Factors such as population growth and urbanization in the United States and Canada are expected to expand various end-use sectors, thereby boosting the installation of TMVs.

Leading manufacturers are focusing on innovation to provide higher quality solutions. There is a notable shift towards developing and launching lead-free TMVs in response to growing consumer awareness of environmental health and safety issues. For instance, RWC recently launched a new range of valves that combine RWC and John Guest (JG) Speedfit technologies, featuring push-fit connections. This highlights the industry’s move towards safer and more efficient plumbing solutions.

Regulatory Impact and Market Dynamics

The U.S. government has implemented stringent regulations to maintain acceptable lead levels in plumbing fixtures, valves, and pipe fittings due to health hazards associated with lead exposure. This regulatory environment has prompted manufacturers to develop lead-free products, a key strategy for gaining a competitive edge in the market. The residential sector, holding a significant market share, is projected to expand steadily, driven by continuous developments and government initiatives.

Market Opportunities and Applications

TMV systems are widely used across healthcare, institutional, and residential sectors. The critical need for safe warehousing and distribution of residential warm water, coupled with rising incidents of scalding, has created substantial market opportunities for TMV manufacturers. Scalding incidents, comparable to fire burns, have led to the integration of temperature sensors in residences and offices to prevent such incidents, driving demand for advanced plumbing solutions.

In the North American real estate industry, incorporating smart plumbing solutions is becoming increasingly common. Developers are integrating these solutions to optimize properties and meet stringent safety regulations. The trend towards smart homes is a significant factor propelling the growth of TMVs, with the U.S. seeing a high penetration of smart homes. The hospitality industry, particularly the renovation and construction of new hotels, also presents robust growth opportunities for TMV suppliers.

Country-Specific Insights

In the U.S., the TMV market is driven by demand in the residential sector. The desire for energy-efficient, environmentally friendly, and low-maintenance products is fueling demand. The U.S. market is expected to see steady growth, driven by increasing infrastructure projects in both residential and construction sectors.

In Canada, the TMV market is anticipated to grow significantly, driven by the expanding HVAC sector and space heating equipment demand. The residential demand and improved living conditions are expected to make Canada the fastest-growing market for thermostatic and digital mixing valves. The real estate industry's rapid development and the surge in residential building projects are key factors supporting market growth in Canada.

Product and Application Segmentation

The market for point-of-use TMVs in the U.S. is projected to grow steadily. These valves are frequently used in plumbing systems where water flow is constant. Standard TMVs are also expected to be a significant segment, expanding steadily.

Government initiatives have bolstered the residential construction industry, driving the demand for TMVs. Continuous developments in the commercial industry have also resulted in increased demand for TMV-licensed valves, particularly in Canada. The residential sector's growth is a primary factor responsible for the rising demand for thermostats and other valves.

Impact of COVID-19 and Future Outlook

The COVID-19 pandemic had a profound impact on the industrial sector, leading to project cancellations and disruptions in supply chains and logistics, which affected the demand for TMVs. However, the market is expected to recover as economic activities resume. The ongoing economic conflict between Russia and Ukraine may pose challenges such as increased raw material prices and rising energy rates, potentially impacting market growth.

Competitive Analysis

The TMV market has seen significant acquisition and expansion activities aimed at improving the supply chain. Key manufacturers are developing new technology-driven systems, and several new manufacturers have emerged in the market space. For example, Bradley Corporation introduced a new TMV for commercial applications, saving installation time and conserving space. The ESBE Group expanded its production unit to increase the capacity of valves and actuators. RWC's acquisition of John Guest Holdings Ltd. added complementary products to its portfolio, providing a broader range of solutions to customers.

Key Players

Prominent companies in the TMV market include:

• Misumi Group Inc.

• Reliance Worldwide Corporation

• Watts Water Technologies Company

• Danfoss A/S

• Bradley Corporation

• Armstrong International Inc.

• Caleffi S.P.A

• Pegler Yorkshire

• ESBE Group

• Leonard Valve Company

• Zurn Water Solutions

• Allied Motion Technologies (AMOT)

• IMI PLC

• Apollo Valves

Market Segmentation

The North American TMV market can be segmented by capacity, nominal diameter, valve type, application, and country:

• By Capacity: Up to 5 GPM, 5-10 GPM, 10-15 GPM

• By Nominal Diameter: 3/8, 1/2, 3/4, 1, 1 ¼, Up to 2

• By Valve Type: Emergency, High/Low, Point-of-use, Standard

• By Application: Residential, Commercial, Industrial

• By Country: U.S., Canada

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Table of Contents

1. Executive Summary
1.1. North America Thermostatic Mixing Valves Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Price Analysis, 2018 – 2023
3.1. North America Average Price Analysis, by Capacity, US$ Per Unit, 2018 – 2023
3.2. Prominent Factor Affecting Thermostatic Mixing Valves Prices
3.3. North America Average Price Analysis, by Region, US$ Per Unit
4. North America Thermostatic Mixing Valves Market Outlook, 2018 – 2031
4.1. North America Thermostatic Mixing Valves Market Outlook, by Capacity, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
4.1.1. Key Highlights
4.1.1.1. Up to 5 GPM Thermostatic Mixing Valves
4.1.1.2. 5-10 GPM Thermostatic Mixing Valves
4.1.1.3. 10-15 GPM Thermostatic Mixing Valves
4.2. North America Thermostatic Mixing Valves Market Outlook, by Nominal Diameter, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
4.2.1. Key Highlights
4.2.1.1. 3/8" Thermostatic Mixing Valves
4.2.1.2. 1/2" Thermostatic Mixing Valves
4.2.1.3. 3/4" Thermostatic Mixing Valves
4.2.1.4. 1" Thermostatic Mixing Valves
4.2.1.5. 1 ¼" Thermostatic Mixing Valves
4.2.1.6. Up to 2" Thermostatic Mixing Valves
4.3. North America Thermostatic Mixing Valves Market Outlook, by Valves Type, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
4.3.1. Key Highlights
4.3.1.1. Emergency Thermostatic Mixing Valves
4.3.1.2. High/Low Thermostatic Mixing Valves
4.3.1.3. Point-of-use Thermostatic Mixing Valves
4.3.1.4. Standard Thermostatic Mixing Valves
4.4. North America Thermostatic Mixing Valves Market Outlook, by Application, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
4.4.1. Key Highlights
4.4.1.1. Residential
4.4.1.2. Commercial
4.4.1.3. Industrial
4.5. North America Thermostatic Mixing Valves Market Outlook, by Country, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
4.5.1. Key Highlights
4.5.1.1. U.S.
4.5.1.2. Canada
5. U.S. Thermostatic Mixing Valves Market Outlook, 2018 – 2031
5.1. U.S. Thermostatic Mixing Valves Market Outlook, by Capacity, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
5.1.1. Key Highlights
5.1.1.1. Up to 5 GPM Thermostatic Mixing Valves
5.1.1.2. 5-10 GPM Thermostatic Mixing Valves
5.1.1.3. 10-15 GPM Thermostatic Mixing Valves
5.2. U.S. Thermostatic Mixing Valves Market Outlook, by Nominal Diameter, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
5.2.1. Key Highlights
5.2.1.1. 3/8" Thermostatic Mixing Valves
5.2.1.2. 1/2" Thermostatic Mixing Valves
5.2.1.3. 3/4" Thermostatic Mixing Valves
5.2.1.4. 1" Thermostatic Mixing Valves
5.2.1.5. 1 ¼" Thermostatic Mixing Valves
5.2.1.6. Up to 2" Thermostatic Mixing Valves
5.3. U.S. Thermostatic Mixing Valves Market Outlook, by Valves Type, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
5.3.1. Key Highlights
5.3.1.1. Emergency Thermostatic Mixing Valves
5.3.1.2. High/Low Thermostatic Mixing Valves
5.3.1.3. Point-of-use Thermostatic Mixing Valves
5.3.1.4. Standard Thermostatic Mixing Valves
5.4. U.S. Thermostatic Mixing Valves Market Outlook, by Application, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
5.4.1. Key Highlights
5.4.1.1. Residential
5.4.1.2. Commercial
5.4.1.3. Industrial
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. Canada Thermostatic Mixing Valves Market Outlook, 2018 – 2031
6.1. Canada Thermostatic Mixing Valves Market Outlook, by Capacity, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
6.1.1. Key Highlights
6.1.1.1. Up to 5 GPM Thermostatic Mixing Valves
6.1.1.2. 5-10 GPM Thermostatic Mixing Valves
6.1.1.3. 10-15 GPM Thermostatic Mixing Valves
6.2. Canada Thermostatic Mixing Valves Market Outlook, by Nominal Diameter, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
6.2.1. Key Highlights
6.2.1.1. 3/8" Thermostatic Mixing Valves
6.2.1.2. 1/2" Thermostatic Mixing Valves
6.2.1.3. 3/4" Thermostatic Mixing Valves
6.2.1.4. 1" Thermostatic Mixing Valves
6.2.1.5. 1 ¼" Thermostatic Mixing Valves
6.2.1.6. Up to 2" Thermostatic Mixing Valves
6.3. Canada Thermostatic Mixing Valves Market Outlook, by Valves Type, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
6.3.1. Key Highlights
6.3.1.1. Emergency Thermostatic Mixing Valves
6.3.1.2. High/Low Thermostatic Mixing Valves
6.3.1.3. Point-of-use Thermostatic Mixing Valves
6.3.1.4. Standard Thermostatic Mixing Valves
6.4. Canada Thermostatic Mixing Valves Market Outlook, by Application, Value (US$ Bn) and Volume (Million Units), 2018 – 2031
6.4.1. Key Highlights
6.4.1.1. Residential
6.4.1.2. Commercial
6.4.1.3. Industrial
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Competitive Landscape
7.1. Company Market Share Analysis, 2023
7.2. Competitive Dashboard
7.3. Company Profiles
7.3.1. Misumi Group Inc.
7.3.1.1. Company Overview
7.3.1.2. Product Portfolio
7.3.1.3. Financial Overview
7.3.1.4. Business Strategies and Development
7.3.2. Reliance Worldwide Corporation
7.3.2.1. Company Overview
7.3.2.2. Product Portfolio
7.3.2.3. Financial Overview
7.3.2.4. Business Strategies and Development
7.3.3. Watts Water Technologies Company
7.3.3.1. Company Overview
7.3.3.2. Product Portfolio
7.3.3.3. Financial Overview
7.3.3.4. Business Strategies and Development
7.3.4. Danfoss A/S
7.3.4.1. Company Overview
7.3.4.2. Product Portfolio
7.3.4.3. Financial Overview
7.3.4.4. Business Strategies and Development
7.3.5. Bradley Corporation
7.3.5.1. Company Overview
7.3.5.2. Product Portfolio
7.3.5.3. Financial Overview
7.3.5.4. Business Strategies and Development
7.3.6. Armstrong International Inc.
7.3.6.1. Company Overview
7.3.6.2. Product Portfolio
7.3.6.3. Financial Overview
7.3.6.4. Business Strategies and Development
7.3.7. Caleffi S.P.A
7.3.7.1. Company Overview
7.3.7.2. Product Portfolio
7.3.7.3. Financial Overview
7.3.7.4. Business Strategies and Development
7.3.8. Pegler Yorkshire
7.3.8.1. Company Overview
7.3.8.2. Product Portfolio
7.3.8.3. Financial Overview
7.3.8.4. Business Strategies and Development
7.3.9. ESBE Group
7.3.9.1. Company Overview
7.3.9.2. Product Portfolio
7.3.9.3. Financial Overview
7.3.9.4. Business Strategies and Development
7.3.10. Leonard Valve Company
7.3.10.1. Company Overview
7.3.10.2. Product Portfolio
7.3.10.3. Financial Overview
7.3.10.4. Business Strategies and Development
7.3.11. Zurn Water Solutions
7.3.11.1. Company Overview
7.3.11.2. Product Portfolio
7.3.11.3. Financial Overview
7.3.11.4. Business Strategies and Development
7.3.12. Allied Motion Technologies (AMOT)
7.3.12.1. Company Overview
7.3.12.2. Product Portfolio
7.3.12.3. Financial Overview
7.3.12.4. Business Strategies and Development
7.3.13. IMI PLC
7.3.13.1. Company Overview
7.3.13.2. Product Portfolio
7.3.13.3. Financial Overview
7.3.13.4. Business Strategies and Development
7.3.14. Apollo Valves
7.3.14.1. Company Overview
7.3.14.2. Product Portfolio
7.3.14.3. Financial Overview
7.3.14.4. Business Strategies and Development
8. Appendix
8.1. Research Methodology
8.2. Report Assumptions
8.3. Acronyms and Abbreviations