Portland, OR, June 24, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global one-way valves market was pegged at $3.63 billion in 2020 and is estimated to hit $5.29 billion by 2028, registering a CAGR of 5.1% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Urbanization and industrialization in developing countries and awareness for water and wastewater treatment drive the growth of the global one-way valves market. On the other hand, the issues associated with wear & tear and frequent maintenance impede the growth to some extent. However, introduction of IoT and energy efficient valves are expected to create multiple opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic led to disruptions in the retail and logistics activities, thereby impacting the global one-way valves market negatively.
- The second wave of the pandemic has also been unfavorable to the market growth in several ways. Nevertheless, the mass rollout of vaccination in most countries is projected to ameliorate the global situation and the one-way valves market is anticipated to recoup soon.
The global one-way valves market is analyzed across type, application, sales type, and region. Based on type, the stainless steel segment contributed to nearly two-fifths of the total market share in 2020, and is expected to lead the trail by the end of 2028. The same segment would cite the fastest CAGR of 5.1% by 2028.
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Based on application, the oil & gas segment accounted for around one-third of the total market revenue in 2020, and is projected to dominate by 2028. The pharmaceutical segment, on the other hand, would exhibit the fastest CAGR of 5.8% from 2021 to 2028.
Based on region, Asia-Pacific held the major share in 2020, garnering more than one-third of the global market. Simultaneously, the market across LAMEA would showcase the fastest CAGR of 6.1% during the forecast period. The other regions studied in the report include North America and Europe.
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Leading Players:
The key market players analyzed in the global one-way valves market report include DHV Industries, Emerson Electric Co., Flowserve Corporation, PetrolValves, Schlumberger Limited, The Weir Group PLC, SPX FLOW, Inc., Velan Inc., AVK Holding A/S, and Valvitalia SpA. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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