Pinch Valves Market Forecast Report 2023-2028: Booming Chemical Sector Drives Pinch Valves Market Growth - CAGR of 4.6% [Yahoo! Finance]
Hillenbrand Inc (HI)
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Source: Yahoo! Finance
The global pinch valves market is estimated to grow at a CAGR of 4.62% during the forecast period. High demand from automotive bolsters the pinch valves market growth. Pinch valves are utilized for controlling and regulating fluid flow in coolant systems, fuel systems, pneumatic systems, and brake systems in the automotive. The automotive industry is experiencing significant growth driven by the rising demand for vehicles having improved safety and performance coupled with favourable investment inflows and policies. According to the International Organization of Motor Vehicle Manufacturers, In 2022, commercial vehicle production in Canada reached 939,364 units, reflecting a 10% growth compared to the previous year. Such growth expands the need for reliable control solutions like pinch valves leading to the growth of the pinch valve market. Emerging food & beverage drives the pinch valves market expansion. Pinch valves are extensively used in the food & beverage industry due t
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