Backflow preventer sales are set to be reach US$ 367.4 Mn in 2021 with a stable long-term projection, as per latest insights from Future Market Insights (FMI), an ESOMAR-certified research and consulting firm. Demand for backflow preventer waned in 2020 due to the recessionary effects of COVID-19 on construction activities, resulting in deceleration of backflow preventers sales. However, barring a few countries, the water infrastructure development activities have resumed at a healthy rate post Q2 of the financial year. With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of backflow preventers market remains positive.
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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 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 towards overall revenue generation in the market. Although, in terms of volume, atmospheric vacuum breakers and pressure vacuum breakers are anticipated to lead the market.
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.
Several advances in composites materials, complex polymers and nylon fibers have resulted in establishing plastic backflows as a suitable alternative solutions to brass materials. Also increasing incidents of theft are compelling consumers to install low cost backflow preventers. Plastic backflow is considered to be of little use to thieves owing to its negligible value in the materials from recycling standpoint
Governments in developed economies are increasingly investing in the water infrastructure development. Furthermore, the mandatory use of backflow prevention devices with annual checks for maintenance especially in residential applications will continue offering lucrative opportunities for growth.
According to the study, backflow preventers sales is poised to recover following a period of negative sales amid COVID-19 outbreak in 2020.
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Competitive Landscape
Global backflow preventers market is largely dominated by major players globally, occupying nearly three-fourth of the market revenue share. Some of the players are focusing to carve a niche for specific demography. The global market for backflow preventers comprises some large scale and middles scale manufacturers focusing on product innovation and collaborations on projects. Key industry participants are investing in strategic alliances and partnerships to gain a competitive advantage in the evolving global market. These partnerships allow companies to strengthen their technical expertise with improved production capacity.
Some of the leading companies operating in the market are:
- Watts Water Technologies Company
- Emerson Electric Co.
- Honeywell International Inc
- Conbraco Industries Inc.
- Zurn Industries, LLC.
- Caleffi S.p.a.
- Hans Sasserath GmbH & Co. KG
- W.W. Grainger, Inc.
- TALIS Management Holding GmbH
The demand for backflow preventers is increasing at a higher rate in developing countries such as India, China, and other. Owing to the ongoing crisis caused by COVID-19 pandemic, the production and supply chain activities has seen a minor slump yet the consumption will improve with the economic recovery post the containment of the pandemic.
The COVID-19 pandemic has caused severe impact on the global economy at various levels. The backflow preventers market growth is also projected to be affected by the COVID-19 pandemic crisis owing to project delays and cancellations. With a number of end users affected in regions such as North America, Europe and East Asia, the supply and shortage in demand are expected to result in a minor drop in Y-O-Y growth. Despite this, FMI forecasts the global backflow preventers market to grow at 3.4% CAGR through 2031.
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By Segmentation:
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)