According to Market Research Future (MRFR), the global safety
valve market size is estimated to reach USD 5.12 billion, with 5.02% CAGR from
2019 to 2025. The report offers a rigorous and in-depth analysis of the effect
of the COVID-19 pandemic on the global safety valve market.
Safety valves are precautionary and preventive valves that
operate automatically when the safety valve pressure and temperature are
exceeded. Safety valves protect crucial equipment from damage by releasing
excess pressure without any electrical assistance. In addition to the safety of
the equipment, valves are essential for the protection of employees around the
plant and the surrounding environment.
Market Dynamics
The propelling factors for the global safety valve market's
growth include rising demand for safety valves from the oil & gas industry
and nuclear energy generation. In addition, the introduction of safety valves
into the Internet of Things (IoT) environment is anticipated to create
opportunities for global safety valve market players.
Many significant players are manufacturing safety valves that
are highly competitive and provide greater performance. Such players are
actively focused on the development of new products as the main strategy to
provide the most suitable safety valves. For example, in October 2018, Emerson
Electric Co. developed a low-pressure pilot pressure relief valve (POPRV) to
support marine LNG transportation consumers by reducing their size. This
reduces investment by 25% and protects end-users from overpressure, as a
reduction in size offers an additional profit margin of 10.5% over existing
valves.
Top Companies profiled in
Safety Valve Market Research Report:
The key participants operating in the global safety valve
market are Emerson Electric Co (US), ALFA LAVAL (Sweden), Schlumberger Limited
(US), General Electric (US), Curtiss-Wright Corporation (US), IMI plc (UK),
LESER GmbH & Co. KG (Germany), Bosch Rexroth AG (Germany), The Weir Group
PLC (Scotland), Forbes Marshall (India), Danfoss (Denmark), and Spirax Sarco
Limited (UK).
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Market Segmentation
The global market for safety valve has been segmented into material,
size, and end-use.
Based on material, the global safety valve market has been
segmented into steel, alloy, cast iron, cryogenic, and others. The steel
segment is predicted to lead the global market as these valves are long-lasting
and do not leak in hot or cold temperatures.
Based on the size, the global safety valve market has been
divided into less than 1”, 1” to 10”, 11” to 20”, and 20” & above. The 1
"to 10" segment is projected to increase with the highest CAGR during
the forecast period as safety valves of this size are used to regulate the flow
and pressure of liquids, gases, and slurries in different end-use industries.
Based on end-use, the global safety valve market has been
segmented into oil & gas, energy & power, chemicals, water & wastewater
treatment, food & beverage, and others. The oil & gas segment is
predicted to witness the largest share in the global safety valve market, as
the oil & gas industry is one of the largest revenue-generating industries
requiring almost all types of valves like gate, globe, check, ball and
butterfly.
Regional Analysis
By region, the global safety valve market has been segmented
into Asia Pacific, North America, Europe, the Middle East &Africa, and
South America.
The Asia Pacific holds the largest safety valve market share
due to the rapid urbanization and growing industrialization.
TABLE OF CONTENTS:
1.
MARKET INTRODUCTION
2.
RESEARCH METHODOLOGY
3.
MARKET DYNAMICS
4.
EXECUTIVE SUMMARY
5.
MARKET FACTOR ANALYSIS
6.
LINEAR MOTORS MARKET, BY
SEGMENTS
7. COMPETITIVE ANALYSIS
More…
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report according to your need.
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