Infrastructure for water supply and treatment has grown significantly in recent years, and this pattern is anticipated to continue during the forecast period. Backflow prevention systems are increasingly being used worldwide due to the rapidly expanding urban population and the ensuing rise in water supply demand.
In its latest study, Future Market Insights (FMI), market research and consulting firm with ESOMAR certification, provides information about the main factors influencing the demand for backflow preventers. The report examines the effects of COVID-19 on the end-use industries in general and backflow preventers in particular, in addition to tracking the global sales of backflow preventers in more than 20 high-growth markets.
There is a lot of opportunity in the United States.
According to FMI, North America is expected to continue to be one of the most lucrative markets for the duration of the forecast period. The region’s significant increase in commercial and residential construction projects is one of the main factors promoting expansion. Nearly 138 million household units were sold in the United States in 2018, according to the U.S. Census Bureau.
Housing demand is anticipated to soar as a result of the millennial generation’s employment and wage growth trends, offering promising opportunities for backflow preventer sales in the United States. Additionally, the presence of numerous manufacturers and distributors in the local market is facilitating growth.
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Market Projections in Germany
The largest building stock in Europe and one of the top construction markets is in Germany. In recent years, Germany’s construction sector has expanded significantly, with residential buildings making the largest contribution. Every year, there is a demand for about 400,000 new homes in Germany.
The German construction industry is influenced by a number of factors, such as demographic shifts, alluring government incentives, and economic confidence. More than half of all investments made in the construction sector in Germany go toward residential construction.
As a result, it is predicted that during the forecast period, this will increase demand for backflow preventers and subsequently contribute to the German backflow preventer market.
market scenario in the U.K.
The United Kingdom has the highest rate of waste water reprocessing and recycling in Europe, according to the Federal Ministry for the Environment, Nature Conservation, and Nuclear Safety. Each year, European water services spend about €45 billion on water infrastructure. Europe’s drinking water network is thought to be about 4.2 million kilometres long overall.
The total length of the sewer network, which is used for wastewater treatment, is close to 3 million kilometres. Sales of backflow preventers are anticipated to increase during the forecast period due to rising investments in water and wastewater treatment facilities across the nation.
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Growth Factors in Australia and New Zealand
Rapid urbanisation is causing the construction industry in Australia and New Zealand to grow. This has opened up new possibilities for the development and expansion of new residential facilities and infrastructure all over the world. Automation is becoming more prevalent in construction to address challenges with safety on various levels. To reduce the chance of water contamination, backflow preventers must also be installed.
The development of backflow preventer valves is primarily driven by regulatory standards for pressure, temperature, design, testing, and certifications established by numerous industrial regulatory organisations, including Australian Standards, the National Plumbing and Drainage Code (AS 3500.1), the International Organization for Standardization (ISO), and other national and international standards.
Competitive Landscape
With nearly three-fourths of the market revenue share, major players worldwide largely control the backflow preventer market. Some of the players are concentrating on establishing a niche for a particular demographic. In the global market for backflow preventers, there are some major and minor manufacturers who concentrate on new product development and project collaborations. Major industry players are investing in strategic partnerships and alliances to gain an edge in the changing global market. Through these partnerships, businesses can increase their technical expertise while also increasing production capacity.
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.
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