According to AMR, the stainless steel segment dominated the global one-way valve market, in terms of revenue and is expected to maintain this trend.
WILMINGTON, DELAWARE, March 5, 2024 /EINPresswire.com/ — One-way valves are the valves that restrict the flow of fluid in only one direction. It further restricts the reversible flow of the fluid by closing the inlet or outlet physically. These types of valves are generally installed in oil & gas, chemical, and water & wastewater industries to restrict the reverse flow of fluids. These valves are also known as check valves or non-returning valves. In 2020, the Asia-Pacific region dominated the one-way valves market, followed by the North America region.
The one-way valves market size accounted for $3.6 billion in 2020, and is expected to reach $5.2 billion by 2028, registering a CAGR of 5.1% from 2021 to 2028.
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Driving factors:
The one-way valve market is majorly driven by the use of one-way valves in water and wastewater treatment plants for treatment of municipal as well as industrial waste water. There has been growing awareness all around the globe on treatment of wastewater and recycling it. This further leads to installation of one-way valves in the treatment plants.
In addition, expansion of industrial sector in emerging countries has led to increase in demand for one-way valves. Further, expansion of industries leads to the growth of the construction sector. Moreover, there has been expansion of food & beverage as well as chemical industry globally. Therefore, expansion of industrial sector is driving the one-way valve market growth. However, there is a lot of physical wear and tear of the one-way valves during restricting the reverse flow of the fluid.
Excess wear and tear can lead failure of one-way valves while operating. Therefore, the valves need regular monitoring and maintenance. 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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Top Players Are:
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.
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.
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Allied Market Research
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