DUBLIN--(BUSINESS WIRE)--The "Check Valve Market - Market Size & Forecasting (2017-2028)" report has been added to ResearchAndMarkets.com's offering.
The global check valve market size has been estimated to be USD 3,356.41 million in 2020 and is projected to register a CAGR of 6.5% to reach USD 5,570.10 million by 2028.
But due to the covid-19 impact, the market size estimation has come down to USD 3,093.49 million in 2020 and is projected to register a CAGR of 5.7% to hit USD 4,824.29 million by 2028. The check valve market is being driven by the increasing demand from end-use industries such as water & wastewater treatment, oil & gas, and energy & power. In addition to this, the increasing adoption of industrial automation is boosting the use of smart check valves, which is expected to further boost market growth over the forecast period.
Increasing number of power generation plants across the world and growing energy and power needs of developing economies are driving the demand for check valves. These valves are also used in nuclear power plants, particularly in processes such as chemical treatment, feed water, cooling water, and steam turbine control systems. The high-pressure, high-temperature, and adverse corrosion conditions experienced by the production and refinery platforms have led to an increase in demand for check valves. These platforms are mainly used in onshore and offshore oil & gas activities. These valves are used in most of the essential mechanisms of the oil & gas industry. They control not only the flow, but also the volume, direction, rate, and pressure of the fluids.
In process industries such as oil & gas, water & wastewater, food & beverages, energy & electricity, petrochemicals, and pharmaceuticals, check valves are commonly used to meet increasing automation needs. They play a significant role in improving the safety, profitability, and efficiency of the end-use industry for various production processes. Further, due to the advantages they offer in terms of pressure as well as temperature control all across upstream, midstream, and downstream activities, the adoption of check valves in industrial sectors has been constantly increasing.
This research report categorizes the market for check valve based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the check valve market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the check valve market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as type, route of administration and disease type of the check valve market.
Key Questions Answered
- How the check valve market is evolving?
- What is driving and restraining factors for global check valve market?
- How will each check valve submarket segment grow over the forecast period and how much sales will these submarkets account for in 2028?
- How will market shares of each check valve submarket develop from 2020-2028?
- Which check valve submarket will be the main driver of the overall market from 2020-2028?
- How will political and regulatory factors influence regional check valve markets and submarkets?
- Will leading national check valve broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
- How will market shares of the national markets change by 2028 and which nation will lead the market in 2028?
- Who are the leading players and what are their prospects over the forecast period?
- How will the sector evolve as alliances form during the period between 2017 and 2028?
Key Topics Covered:
1 Market Abstract
2 Market Introduction
3 Research Practice
4 Key Related Data
5 Impact Factor Analysis
5.1 Drivers/Restraints/Opportunities/Challenges
5.1.1 Drivers
5.1.1.1 Growing Focus on the Development of Smart Cities, Globally
5.1.1.2 Surging Requirement for Establishing New Nuclear Power Plants and Revamping the Existing Ones
5.1.2 Restraints
5.1.2.1 Lack of Standardized Norms and Governing Policies
5.1.3 Opportunities
5.1.3.1 Applications of 3D Printing Technology for the Manufacturing of Valves
5.1.4 Challenges
5.1.4.1 Unplanned Downtime Due to Malfunctioning or Failure of Valves
5.2 Porter's Five Forces Model
5.3 Check Valve Market Barriers Outlook
6 Market Development Analysis
6.1 Overview
6.2 New Product Development / Product Launch (2015-2020)
6.3 Mergers and Acquistions (2015-2020)
6.4 Agreements, Partnership & Collaborations (2015-2020)
7 Check Valve Market, by Material Type
8 Check Valve Market, by Valve Type
9 Check Valve Market, by Application
10 Check Valve Market, by End Use Industry
11 Check Valve Market, Regional Analysis
12 Company Profile
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/4nubo7
Gloss