Market Research Future (MRFR) highlights In its research
report that the global safety valve market size is slated to reach USD 5.12 billion by 2025, at 5.02% CAGR over the review period of
2019 to 2025.
Drivers and
Restraints
The major factors driving the growth of the global safety valve market include
increased demand from the oil & gas industry for safety valves and
increased generation of nuclear power. In addition, the introduction of safety
valves into the Internet of Things (IoT) system is expected to create opportunities
for market players in the global security valve industry. Nevertheless, in some
parts of the world slow growth in oil & gas exploration is expected to curb
the development of the safety valve market.
Segmental
Analysis
The global safety valve market has been analyzed based on
material, size, and end-use. Based on thematerial, the global market includes
cryogenic, alloy, steel, cast iron, and others. The steel segment is expected
to lead the global market as these valves are durable and do not drop in hot or
cold temperatures. Based on the size, the global market is segmented into 1” to
10”, less than 1”, and 11” to 20”, and 20” & above. The 1” to 10” segment
is slated to grow with the fastest CAGR during the forecast period as the
safety valves of this size range are used to control the flow and pressure of
gases, liquids, and slurries within different end-use industries. Based on
theend-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 poised to hold
the largest share in the global protection sector, as the oil & gas
commerce is one of the most important revenue-generating industries that
require nearly all types of valves including gate, globe, test, ball, and
butterfly.
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Competitive
Analysis
The major market players operating in the global market as
identified by MRFR are Emerson Electric Co (US), Schlumberger Limited (US),
Bosch Rexroth AG (Germany), General Electric (US), ALFA LAVAL (Sweden), IMI plc
(UK), The Weir Group PLC (Scotland), LESER GmbH & Co. KG (Germany),Forbes
Marshall (India), Curtiss-Wright Corporation (US), Danfoss (Denmark), and
Spirax Sarco Limited (UK).
Regional Analysis
The geographical overview of the global market has been
conducted in four major regions, including the Asia Pacific, North America,
Europe, and the rest of the world.
The market in Asia pacific is set to witness a substantial
growth trajectory. Additionally, regulatory and structural changes are needed
to make infrastructure more competitive for private investors and to build a pipeline
of public-private partnership projects. Safety valves are often used in the
building industry to control liquid flow in firefighting systems, piping
systems, and water supply systems. Asia-Pacific therefore holds the largest
share in the safety valve market due to a increasing construction industry and
the numerous opportunities for market players in the safety valve sector.
North America's demand for safety valves is projected to be
the second-largest market due to growing investments in the construction
sector. The US construction industry is expected to develop faster than China's
market in the next 15 years, which is expected to lead to extensive
installation of safety valves in the construction industry. According to the US
Department of Commerce, gross spending on residential and non-residential
construction in January 2019 amounted to around USD 1.307.34 billion.
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TABLE OF CONTENTS:
1.
Market Introduction
2.
Research Methodology
3.
Market Dynamics
4.
Executive Summary
5.
Market Factor Analysis
6.
Safety valves Market,
By Segments
7.
Competitive Analysis
Continued…
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