Backflow Preventers Market Research by Key players, Type and Application, Future Growth Forecast to 2031
According to Future Market Insights (FMI), an ESOMAR-certified research and consulting firm, backflow preventers sales are expected to reach US$ 367.4 million in 2021, with a stable long-term projection. The recessionary effects of COVID-19 on construction activities slowed backflow preventer demand in 2020, resulting in slower backflow preventer sales.
However, with the exception of a few countries, water infrastructure development activities have resumed at a healthy pace following the second quarter of the fiscal year. With the sector in recovery mode, the market for backflow preventers is expected to grow in the short and long term.
The lifetime cost of a plastic backflow is much lower than in previous designs. In today's world, the entire assembly of a backflow prevention device made with new composite materials can cost the same as one part of the assembly in older models.
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Considerable increase in government norms and regulation for 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
Global backflow preventer market is expected to exhibit 3.7% CAGR between 2021 and 2031
The U.S. is projected to account for over 75% sales in North America, thanks to increasing residential construction
Increasing focus on waste water treatment will enable the U.K. register 1.9% y-o-y growth in 2021
Increasing construction activities will drive growth in Germany and France
Increasing government spending towards waste water 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.
Competitive Landscape:
The backflow preventers market is understood to be fairly consolidated, with key players accounting for nearly 60% of overall market value share. These players are likely to invest in new technology developments and expansion of their networks in order 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.
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 personalized requirements of consumers. Collaboration, mergers and acquisition with regional companies are some of the key strategies market players are likely to focus on to gain competitive edge.
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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
Middle East and Africa (MEA)