Rising Adoption of Backflow Preventers in Emerging Economies Such as India and China. Growing Awareness of Health and Liability Risks Associated with Water Contamination
The global backflow preventers market is poised to reach a valuation of USD 8.7 billion by the end of 2022. This growth trajectory is attributed to the ongoing efforts of companies in introducing technologically advanced backflow preventers, featuring innovative materials such as stainless steel, ductile iron, and high-performance plastics. Over the forecast period from 2023 to 2033, the market is projected to witness a steady expansion, with an estimated value of USD 13.8 billion by 2033, reflecting a compounded annual growth rate (CAGR) of 4.5%. In the immediate future, the market is anticipated to achieve a milestone of USD 8.9 billion in 2023, signaling a promising start to the forecast period.
Backflow preventers are crucial components of plumbing systems designed to ensure the safety of potable water supplies. These devices work by preventing the reverse flow of contaminated water back into the main water supply lines, thus safeguarding against the risk of water contamination and ensuring water quality standards are maintained. Backflow preventers are commonly installed in various settings, including residential, commercial, and industrial buildings, as well as in municipal water supply systems.
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Start Up Ecosystem
Emerging entrants in the backflow preventers market, including companies like Tianjin Tanggu Water-Seal Valve Co Ltd, LIKE Valves, and Nugreen Building Technologies (P) Ltd, are strategically leveraging a variety of marketing tactics to enhance their market presence and expand their customer base. These tactics encompass a range of approaches such as:
- New Product Launches: Companies are introducing innovative backflow preventer products to meet the evolving needs of customers and gain a competitive edge in the market.
- Geographical Expansion: Expanding their reach into new geographical regions allows these companies to tap into previously untapped markets and capitalize on emerging opportunities.
- Mergers and Acquisitions: Pursuing mergers and acquisitions enables companies to consolidate their position in the market, acquire complementary technologies or product lines, and achieve economies of scale.
- Partnerships and Collaborations: Forming strategic partnerships and collaborations with other industry players, suppliers, or distributors helps in leveraging synergies, accessing new distribution channels, and enhancing market reach.
For instance, Tianjin Tanggu Water-Seal Valve Co., Ltd., a prominent player in China, has strategically positioned itself as a leading supplier of water management valve products by establishing manufacturing plants in key locations. Similarly, American LIKE Valves, established in 2017, has swiftly gained global recognition by offering a diverse range of flow control products and solutions, leveraging advanced mechanical technology and automation systems to ensure product quality and reliability. Meanwhile, Nugreen Building Technologies (P) Ltd., founded in 2010, has focused on developing and manufacturing plumbing and drainage products, aligning its offerings with industry standards to meet the needs of its customers effectively.
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Key Players
- Watts Water Technology Company
- Emerson Electric Co.
- Honeywell International Inc.
- Conbraco Industries
- Zurn Industries LLC
- Caleffi S.p.a.
- Hans Sasserath GmBH & Co, KG
- W. W. Grainger Inc
- Talis Management Holding GmBH
- A. R. I. Flow Control