The global check valve market will grow at a compound annual growth rate of 5.7%

Pune, India, May 20, 2021 (GLOBE NEWSWIRE) – The global check valve market in 2020 is valued at US$3.0935 billion and is expected to grow at a compound annual growth rate of US$4.8243 billion during COVID-19 by 2028.
A check valve is a mechanical device that allows liquid and gas to flow in only one direction, thereby preventing reverse flow. These one-way reversing valves have two openings in the valve body, one for fluid to enter and one for fluid to leave. When the fluid flows in the desired direction, the valve opens, but the backflow of liquid or gas closes. The mechanical structure of the check valve is very simple, it will work automatically to prevent the fluid from flowing in the wrong direction.
The check valve market is driven by increased demand from end-use industries, including water and wastewater treatment, oil and gas, and energy and electricity. In addition, the increasing use of industrial automation is stimulating the use of smart check valves, which is expected to drive market growth during the forecast period.
The increase in the number of power plants worldwide and the growing energy and power demand in emerging economies have driven the demand for check valves. In nuclear power plants, these valves are used in chemical treatment, feed water, cooling water and steam turbine control systems. The high pressure, high temperature, and adverse corrosive conditions encountered in production and refineries have increased the demand for check valves. Onshore and offshore oil and gas projects are the most typical applications of these platforms. These valves are used in almost all key institutions in the oil and gas industry. They control the flow, volume, direction, velocity, and pressure of the fluid.
The demand for check valves is extremely fragmented. There is a lot of competition among existing competitors. The product innovation strategy of large companies is driving market growth. In order to strengthen its market leadership in the global check valve market, large companies are cooperating or acquiring other companies. For example, in April 2017, Emerson Electric Company completed the acquisition of Pentair plc’s valve and control business for US$3.15 billion. Through this acquisition, the company will be able to expand its global automation footprint and increase its leadership in major service markets such as chemical, power, oil refining, mining, and oil and gas. By adding these well-known brands and after-sales services to their product portfolio, Emerson can better meet the needs of customers around the world.
The QMI team is closely monitoring the impact of COVID-19 on the global check valve industry and has observed that the demand for check valves is slowing during the pandemic. However, starting from mid-2021, it is expected to grow at a sustainable rate. Many countries/regions around the world have implemented strict lockdown measures to prevent the spread of the pandemic, which hinders business operations.
Due to the closure of the market, the demand and supply of raw materials and the manufacturing and distribution of products have been completely interrupted. In all walks of life, transportation, aviation, oil and gas, electronics and other industries have suffered huge economic losses. This has led to a reduction in the demand for a variety of products and components, one of which is the check valve. In this report, all these aspects have been carefully studied.
According to the type of material, the market is divided into stainless steel, alloy base, cast iron, low temperature, etc. Among them, the stainless steel plate is expected to occupy the largest market share during the forecast period.
Due to the increased demand for high-quality industrial valves in the food and beverage, chemical, pharmaceutical, metal and mining industries to reduce the risk of pollution, steel check valves are currently in great demand. Due to its corrosion resistance characteristics, long-acting stainless steel check valves can withstand harsh temperatures, chemicals and pressures, and hard water conditions, thereby increasing the demand for stainless steel check valves in water and wastewater treatment plants.
According to the valve type, the market is divided into rotary valves and linear valves. During the forecast period, the linear valve segment is expected to account for the largest share of the global check valve market. Linear check valves are divided into swing check valves, silent shut-off valves, piston (lift type) check valves, etc. (swash plate check valve, wafer check valve). The rotary valve part is divided into butterfly check valve (double plate check valve) and ball check valve.
Swing check valves are widely used in water and wastewater treatment applications due to their simple structure, low pressure drop through the valve, and field applicability. The silent cut-off check valve adjusts the flow in the pipeline by combining the movable disc assembly and the fixed ring seat in the sphere. Silent shut-off valves are used in applications that require regular throttling. Due to the increasing demand from end industries such as oil and natural gas, chemical industry, energy and power in emerging economies, linear valves occupy a leading position in the market.
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According to the application, the market is divided into switching/isolation and control. Among them, the switch/isolation part is estimated to occupy the largest market share during the forecast period. The switch/isolation valve is one of the most basic and necessary components in today’s technological society. With a century-old history, these are among the oldest products. The valve industry is indeed diversified, covering everything from water distribution to nuclear power, as well as upstream and downstream of the oil and gas industry. Check valves are commonly used in switch/isolation applications to protect various equipment such as flow meters, filters and other equipment from backflow.
According to the end-use industry, the market is divided into oil and gas, liquefied natural gas, water and wastewater treatment, energy and power, food and beverage, chemical industry, construction and construction, pulp and paper, pharmaceutical and healthcare, agriculture, metals and mining, and Something else. Among them, the oil and natural gas and liquefied natural gas sectors are expected to occupy the largest market share in the global check valve market during the forecast period. This growth is attributed to the increase in energy demand and drilling activities in the Gulf Cooperation Council (GCC) countries.
Check valves are used to equip millions of wellheads and sections and regulate the flow through millions of miles of aggregation pipelines and transnational trunk pipelines that transport crude oil and natural gas to refineries and refine gasoline, diesel, and natural gas. The products are delivered to the end-user market in the upstream oil and gas industry. In the downstream oil and gas industry, these valves are also used in refineries, natural gas plants, and refined oil storage/distribution terminals.
However, due to the negative impact of the COVID-19 pandemic, the world is experiencing an economic crisis. The epidemic has had a major impact on the oil and gas industry, and oil prices have fallen below zero dollars per barrel. In addition, due to the COVID-19 pandemic, the entire industry has seen cancellations and delays in projects for new pipelines, refineries, and petrochemical plants.
According to the region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. It is estimated that during the forecast period, the Asia-Pacific region will occupy the largest share of the global check valve market. In 2020, the Asia-Pacific market will account for approximately 37.2% of the market share. Many of the world’s top check valve manufacturers have operations in the Asia-Pacific region.
The increase in demand for safety applications and the increase in R&D activities related to the use of automatic valves are the two main factors driving the growth of the regional market. China is the main market for check valves because of the surge in demand for these valves in the oil and gas, energy and power, water and wastewater treatment industries to control the flow of media through the system and start, stop or throttle and ensure safe and efficient processes automation.
Browse key industry insights distributed on 151 pages, including 143 market data tables and 90 data and charts from the report “Check Valve Market, by material type (stainless steel, alloy base, cast iron, cryogenic, other), valve type (Rotary valve)”, linear valve), applications (switch/isolation, control), terminal industries (oil and gas, liquefied natural gas, water and wastewater treatment, energy and power, food and beverage, chemical industry, building and construction, pulp and Papermaking, pharmaceuticals and healthcare, metals and mining, agriculture, others) and regions (North America, Europe, Asia Pacific, Middle East and Africa, and South America)-market size and forecast (2017-2028)” and in-depth analysis catalog (ToC).


Post time: Jun-17-2021

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