Future Market Insights
Pressure Relief Valves are used to control the pressure in a system in case of a process upset, or equipment failure. The extra pressure in the systems is relieved through an auxiliary passage. A typical pressure relief valve is designed to operate at a predetermined set pressure to assist in protecting other vessels and equipment from being subjected to unsafe pressure. If the pressure in the system exceeded the relief valve automatically becomes the passage of least resistance and helps retain the pressure. Pressure relief valves finds application in a variegated range of industries ranging from F&B, Pharmaceuticals, Oil & Gas, Power and Paper & Pulp.
Due to sluggish growth rate among most of these industries, the global pressure relief valves market is expected to expand with a moderate CAGR over the forecast period.
Pressure Relief Valves Market: Drivers & Restraints
The prime factor boosting the growth in the global pressure relief valves market is the reviving oil & gas and chemical industry, coupled with the rapidly growing industrialization efforts in the developing world. As companies relocate their manufacturing plants and set up new units across different geographies as per supply-demand scenario, demand for pressure relief valves is bound to increase. Increasing preference towards nuclear power generation particularly from countries such as India and China will also drive the demand for pressure relief valves. Furthermore, as most of the refineries showing plans for capacity expansion in near future, demand for pressure relief valves is anticipated to significantly increase. Rapidly increasing health and safety concerns across all industry verticals is another factor that is pushing existing industries to replace their legacy systems and upgrade to the new ones, thus fuelling more demand in the global pressure relief valves market.
Pressure Relief Valves Market: Market Segmentation
The Pressure Relief Valves market is segmented into three parts based on product type, set pressure and end use industry:
Based on product type, the Pressure Relief Valves market is segmented into:
Spring loaded Pressure Relief Valves
Pilot operated Pressure Relief Valves
Dead weight Pressure Relief Valves
Based on set pressure, the Pressure Relief Valves market is segmented into:
Based on end use industry, the Pressure Relief Valves market is segmented into:
Oil and Gas
Chemical Processing Industry
Paper and Pulp Industry
Food and Beverage Industry
Fertilizers and Pesticides
Pressure Relief Valves Market: Regional Outlook
Geographically, pressure relief valves market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. North America is anticipated to dominate the global pressure relief valves market, amid, large number of chemical processing industries, and the rapidly expanding oil and gas production in the region. As oil and gas companies in the region explore more and more unconventional energy resources such as shale gas extraction, demand for pressure relief valves in the region is expected to remain high. Further, Western Europe being a global leader in chemical production is also anticipated to continue providing vast opportunity for pressure relief valves manufacturers. As, Asia Pacific Exc. Japan (APEJ) countries focus more on their domestic chemical production in turn relying less on western imports, demand for pressure relief valves in the region is expected to rise significantly. Moreover, on the backdrop of upcoming power generation projects inclusive of nuclear power plants in APEJ, the pressure relief valve market of the region is expected to grow throughout the forecast period. The Middle East and Africa’s pressure relief valves market is also anticipated to contribute significantly to the overall demand. Further, as oil prices revive demand for pressure relief valves in the region is expected to grow gradually. Japan is also a prominent region in terms of demand for pressure relief valves, however the growth rate is expected to remain moderate throughout the forecast period.
Pressure Relief Valves Market Players
Some of the key players identified in Global Pressure Relief Valves market are:-
Weir Group PLC
Curtiss Wright Corp.
LESER GmbH & Co. KG
Alfa Laval AB
Flow Safe, Inc.
Watts Water Technologies, Inc.
Goetze KG Armaturen
The global woodworking machines market is highly fragmented due to the presence of large number of regional and global players. Regional players choose quality service and competitive pricing as their winning strategy over global players. In response to this, global players are largely involved in merger & acquisition and partnership activities in order to enhance their profitability margin and market share.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
The main aim of the report is to:
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.