$ 2.5 Billion Growth in Global Industry Check Valves Market During 2021-2025 | Featuring Key Vendors Including ABB Ltd., Curtiss-Wright Corp., and Danfoss AS | Technavio
NEW YORK, March 25, 2021 /PRNewswire/ -- Technavio announces the release of its latest report on the industry check valves market. The market is segmented by end-user (oil and gas, power, chemicals, water and wastewater, and others) and geography (APAC, Europe, North America, MEA, and South America). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
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Industry Check Valves Market: Key Findings
- Industry check valves market value to grow by USD 2.5 billion at over 4% CAGR during 2021-2025
- 34% of market growth to originate from APAC during the forecast period
- Based on the end-user, the oil and gas segment will offer maximum opportunities for vendors during the forecast period
- The industry check valves market is expected to have a neutral impact due to the spread of COVID-19
Industry check valves Market: Growth Drivers
Developments in the water and wastewater industry is one of the prime factors driving the growth of the market. Rapid urbanization, industrialization, and economic growth have significantly reduced the availability of freshwater resources. This coupled with rising environmental concerns is compelling industrial operators to invest in the latest technological solutions to treat wastewater and effluents to obtain potable water. In addition, the upgradation of aging water infrastructure, especially in the developed regions such as the US and Europe is expected to create significant opportunities for market players during the forecast period.
"Growth opportunities in oil and gas pipeline market and growth in nuclear power generation in APAC will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Industry Check Valves Market: Major Vendors
ABB Ltd.
ABB Ltd. operates its business through segments such as Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. The company offers wide series of check valves under its Control System Accessory category.
Curtiss-Wright Corp.
Curtiss-Wright Corp. operates its business through segments such as Commercial/Industrial, Defense, and Power. The company offers a large range of high-quality check valves from their product brands Phönix, Valve Group-Korea, and Strack. Some of these check valves include Angle control valves, Swing check valves, Micro control valves, Cryogenic service valves, etc.
Danfoss AS
Danfoss AS operates its business through segments such as Danfoss Power Solutions, Danfoss Cooling, Danfoss Drives, and Danfoss Heating. The company offers a wide range of check valves including NRV refrigeration check valves, SCA-X 12-125 check and stop valve, SCA-X SS check and stop valve in stainless steel, CHV-X 15-125 check valves, CHV-X SS check valves in stainless steel, VCM, and VCH check valves for high-pressure applications, etc.
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Report: www.technavio.com/report/industry-check-valves-market-industry-analysis
SOURCE Technavio
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