Press release
One-Way Valves Market Forecast 2028 | Going to Impact on Global Industry to Grow in Near Future
One-Way Valves Market
In 2020, the Asia-Pacific region emerged as the dominant player in the one-way valves market, closely followed by North America. The market's growth is primarily fueled by the increasing utilization of one-way valves in water and wastewater treatment facilities for both municipal and industrial purposes. Globally, there's a rising awareness regarding wastewater treatment and recycling, prompting the widespread adoption of these valves in treatment plants. Furthermore, the expansion of industrial sectors, particularly in emerging economies, has spurred the demand for one-way valves.
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The burgeoning industrial activity not only boosts the demand for these valves but also drives growth in the construction sector. Additionally, the global expansion of industries like food & beverage and chemicals further contributes to the market's expansion.
Despite the market's growth prospects, one of the challenges faced is the physical wear and tear experienced by one-way valves during their operation in restricting fluid backflow.
Excess wear and tear can lead failure of one-way valves while operating. Therefore, the valves need regular monitoring and maintenance. This increases the operating cost for the valves. In addition, outbreak of COVID-19 has led to halt in construction and manufacturing activates across the globe.
Halt in logistics services has led to halt in the packaging industry, which, in turn, hinders the growth of the one-way valves market. However, industries are gradually back on track and vaccine discovery has lead to recovery of the one-way valves market by mid-2021.
On the contrary, adoption of automation in the industrial sector has led to equipping the components with IoT for easy monitoring purpose and enhancing the efficiency of the operations. These one-way valves are connected through IoT; thus, making easy monitoring of their wear and tear. Thus, IoT in manufacturing industries is anticipated to provide lucrative growth
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Key Findings Of The Study
By type, the stainless steel segment was the highest revenue contributor in 2020.
By application, the oil & gas segment generated the highest revenue in 2020.
By sales type, the aftermarket segment generated the highest revenue in 2020.
By region, the Asia-Pacific generated the highest revenue in 2020.
Top Players:
The major players profiled in the one-way valve market include AVK Holding A/S, DHV Industries, Emerson Electric Co., Flowserve Corporation, PetrolValves, Schlumberger Limited, SPX FLOW, Inc., The Weir Group PLC, Valvitalia SpA, and Velan Inc.
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