Backflow Preventers Market Size, Share 2031: Present Scenario and Growth Prospects
Backflow preventer sales are set to reach US$ 367.4 Million in 2021 with a stable long-term projection, as per the latest insights from Future Market Insights (FMI), ESOMAR-certified research and consulting firm. Demand for backflow preventers waned in 2020 due to the recessionary effects of COVID-19 on construction activities, resulting in the deceleration of backflow preventers sales.
However, with the exception of a few countries, water
infrastructure development operations have resumed at a solid pace following
the financial year’s second quarter. The immediate and long-term growth
prospects of the backflow preventers market remain strong, notwithstanding the
sector’s recovery.
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Reduced pressure zone-type backflow preventers are expected
to lead the market in terms of market value during the forecast period. The
segment is expected to hold a dominant market share by value throughout the
forecast period. This can be attributable to advance operations offered by the
category. Their high cost also contributes to overall revenue generation in the
market. Although, in terms of volume, atmospheric vacuum breakers and pressure
vacuum breakers are anticipated to lead the market.
A considerable increase in government norms and regulations for
the plumbing industry is expected to create growth opportunities. The
increasing inclination towards reduced pressure zone backflow preventers in
developed and developing countries across the globe is expected to drive the
market.
Key Takeaways from Backflow Preventers Market Study
- The
global backflow preventer market is expected to exhibit 7% CAGR
between 2021 and 2031
- The
U.S. is projected to account for over 75% of sales in North
America,thanks to increasing residential construction
- Increasing
focus on wastewater treatment will enable the K. to register 1.9%
y-o-y growth in 2021
- Increasing
construction activities will drive growth in Germany and France
- Increasing
government spending towards wastewater treatment will drive growth in Japan
and South Korea
“Stringent laws implemented to ensure safe drinking water
are expected to give impetus to the backflow preventer market. In addition to
this, innovation of new connected backflow preventers will enable the market
gain momentum at a steady pace through the forecast period. Competitive price
offering, increase in end user satisfaction in terms of performance, and use of
advanced technologies are some of the key strategies implemented by
manufacturers operating in the market,” says FMI analyst.
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Backflow preventers Market by Category
Product Type
- Atmospheric
Vacuum Breaker
- Pressure
Vacuum Breaker
- Double
Check Valve Assembly
- Reduced
Pressure Zone
Material Type
- Stainless
Steel
- Plastic
- Ductile
Iron
- Bronze
- Other
Materials
End-Use
- Residential
- Commercial
- Industrial
- Sprinkler
& Irrigation
- Water
& Wastewater
- Chemical
Processing
Region
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia & Pacific
- The
Middle East and Africa (MEA)
Competitive Landscape
The backflow preventers market is understood to be fairly
consolidated, with key players accounting for nearly 60% of the overall market
value share. These players are likely to invest in new technology developments
and the expansion of their networks to maintain their market shares. Some of
the key players in the market are Honeywell International Inc, Rexnord
Corporation, Conbraco Industries Inc., Watts Water Technologies Company,
Emerson Electric Co., Caleffi S.p.a., W.W. Grainger, Inc., A.R.I. Flow Control
Accessories Ltd, BEULCO GmbH und Co. KG and others.
The backflow preventer market is estimated to witness sound
growth during 2021-2031. However, as it is a matured market, companies are
expected to concentrate further on research and development activities to
develop more in the field of water management that meet the personalized
requirements of consumers. Collaboration, mergers, and acquisitions with
regional companies are some of the key strategies market players are likely to
focus on to gain a competitive edge.
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