According to the most recent findings from Future Market Insights (FMI), an ESOMAR-certified research and consultancy business, backflow preventer sales are expected to reach US$ 367.4 Million in 2021 with a stable long-term prognosis. Due to COVID-19’s recessionary effects on the building industry, backflow preventer demand decreased in 2020, slowing the growth of backflow preventer sales.
But after the second quarter of the fiscal year, operations for developing water infrastructure—with the exception of a few nations—have picked up speed. Despite the industry’s recovery, the market for backflow preventers still has excellent short- and long-term growth possibilities.
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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 a 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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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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