Global Check Valve Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Check Valve Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Check Valves market is expected to grow at a CAGR of 5.3% from 2022–2027. Check valves are mechanical devices that allow liquids and gases to flow solely in one direction, preventing flow reversal. The body of these one-way directional valves has two apertures, one for fluid to enter and one for fluid to exit. The valve opens as fluid flows in the intended direction, but the backflow of liquid or gas closes. The mechanics of a check valve are basic, and they function automatically to prevent fluid from flowing in the wrong direction.

Increased demand from end-use sectors such as water and wastewater treatment, oil and gas, and energy and power is driving the check valve market. Furthermore, the growing use of industrial automation is encouraging smart check valves, which will likely fuel market expansion throughout the forecast period.

Key Highlights

• The increasing number of power-producing plants, the oil & gas industry around the world, and the growing energy and power needs of emerging nations are driving the demand for check valves. These valves are utilized in nuclear power reactors for chemical processing, feed water, cooling water, and steam turbine control systems.
• Additionally, manufacturers are concentrating their efforts on providing valves that are resistant to corrosion and extreme environments. During the COVID-19 pandemic, revenues fell temporarily when lockdowns halted industrial production in the first half of 2020. The suspension of the marketplace has entirely affected the demand and supply of raw materials, as well as product manufacturing and distribution. Check valves are one of the items and components that have seen a decrease in demand as a result of this.
• However, increased need for high-quality industrial valves in the food and beverage, chemical, pharmaceutical, metal, and mining industries to reduce contamination risk is currently increasing demand for steel check valves. The growing concern about sanitation is likely to drive the stainless steel check valves market in water and wastewater treatment plants, as corrosion-resistant stainless steel valves can endure high temperatures, chemicals, and pressures, as well as hard water conditions.
• Furthermore, Swing check valves are also in huge demand and frequently suggested for use in water and wastewater system applications due to its straightforward design, minimal pressure drop through the valve, and easy field serviceability. Additionally, because of the increasing demand from end-user industry including oil and gas, chemicals, and energy and electricity in developing nations, linear check valves are expected to control the market.

Key Market TrendsOil and Gas Segment Will Fuel the Check Valve Market Globally

• The oil and gas segment is anticipated to hold the largest market share in the global check valve market. Rising energy consumption and expanding drilling activities in the Gulf Cooperation Council (GCC) nations are mainly responsible for this expansion.
• The high-pressure, high-temperature, and unfavorable corrosion conditions on production and refinery platforms have increased the demand for check valves. These platforms are primarily employed in onshore and offshore oil and gas activities. These valves are also used in most critical systems in the oil and gas industry. They regulate not just the flow of fluids but also their direction, volume, pace, and pressure.
• Furthermore, the upstream oil and gas industry is the most prolific user of check valves, which are used to outfit millions of wellheads and segment and control flow through millions of miles of gathering pipelines. Check valves are also used in cross-country trunk pipelines that transport crude oil and gas to refineries and refined products like gasoline, diesel, and natural gas to end-user markets.
• Furthermore, many setup tools are being provided by technology businesses to detect leaks and other faults in check valves. For example, Trelleborg sealing solutions will introduce its interactive Variseal Oil & Gas Seal selection, an online configuration tool that will give customers technical proposal parameters for high-performance sealing, in July 2022. It is primarily intended for use in the oil, gas, and energy industries. It allows users to quickly and easily construct a standard or custom seal proposal document for use in seal design. The tool is particularly used for check valve configuration.
• However, the world is currently in the grip of an economic catastrophe as a result of the COVID-19 pandemic. This pandemic has had a significant impact on the oil and gas business, with oil prices plunging below zero dollars per barrel. Furthermore, due to the COVID-19 epidemic, the entire sector has seen project cancellations and delays for new pipelines, refineries, and petrochemical plants.

Asia Pacific to Hold Significant Share

• Check valves are anticipated to become more and more prevalent in the Asia-Pacific region due to the region's predicted substantial market share in the global check valve market, as well as the region's growing demand for them due to the rapid industrialization of China and India, as well as rising energy demands.
• Furthermore, increased government initiatives toward sustainable development are expected to drive market growth throughout the forecast period. The Asia-Pacific market is being driven by rising demand for energy-efficient products. Furthermore, the presence of major check valve manufacturers in this region is a crucial factor driving market expansion.
• Also, diminishing freshwater sources are prompting growing economies such as China, India, and Indonesia to employ contemporary water and wastewater treatment systems. Governments in established and emerging economies are investing extensively in modernizing existing water supply infrastructure for this purpose, which is increasing demand for industry check valves.
• As a result, the Asia-Pacific area is home to numerous major participants in the check valve industry. Two major drivers driving the regional market expansion are increased R&D efforts connected to the use of automated valves and rising demand for safety applications.
• Additionally, In Asia Pacific Region, the largest check valves market is in China. The expansion of the regional market is accelerated by increased R&D effort and increased use of check valves across a variety of end-user industries. These industries, which employ check valves to manage media flow and guarantee a secure and effective process automation, include oil and gas, energy and power, and water and wastewater treatment. Also, According to International Energy Agency's petrochemicals Report, it is anticipated that 512 petrochemical projects in China will go up between 2021 and 2025.

Competitive Landscape

The competitive landscape in the check valve market has been analyzed, and it covers recent market developments and competitive tactics such as expansion, product launch and development, collaboration, merger, and acquisition. The study identifies and profiles the main market players in each category of the worldwide check valve market, as well as examines their primary competencies. Among the leading companies are Emmerson Electric, Eaton Corporation, Schlumberger N.A., Bosch Rexroth, Flowserve Corporation, Flomatic Valves, and many more.

• May 2022 - Flomatic Valves has announced that the Model 408S6 ball check valve is available in an entirely 316 stainless steel 8-inch design. The Model 408S6 ball check valves from Flomatic are AWWA C508 standard lay length compatible and American Iron and Steel (AIS) compliant. Flomatic Valves continues to make investments in American-made valve products and offers one of the most comprehensive portfolios of ball check valves that are AIS compliant.
• March 2022 - Valmet announced the addition of Neles Q-Disc, a new high-performance feature that aids flow balancing in indutrial valve applications, to its flexible butterfly check valve product line. The new product complements the modular Neles Neldisc and Jamesbury Wafer-Sphere butterfly check valve platforms, which were launched to the market in June 2021.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.