Pressure Relief Valves Market was valued at US$ 5.10 Bn. in 2022. Global market size is estimated to grow at a CAGR of 4.3% over the forecast period.Pressure Relief Valves Market Overview:
The primary purpose of Pressure Relief Valves is the release of fluid from an overpressure vessel, thereby avoiding lethal accidents and mishaps that may lead to loss of life and property. The increase in market size of the Oil and Gas Market, and Nuclear Energy Market has contributed to the growth of the Pressure Relief Valves Market. This is because they are used extensively to safeguard the processes used in these markets, thereby driving sales and increasing the market size. Increasing industrial accidents have led to several reforms in the operational safety regulations and therefore lay down the precedent for overall increased demand for the equipment in the forecast period.To know about the Research Methodology :- Request Free Sample Report
Pressure Relief Valves Market Dynamics:
The Pressure Relief Valves Market is driven by the increase in industrialized markets and the increased regulations of industrial procedures drafted by regulating bodies. The Oil and Gas Market is the key driver of the growth in the Pressure Relief Valves Market. The overall rise in Oil and Gas consumption has led various players in the market to expand regionally through both onshore and offshore explorations, leading to the growth in the market. The increased adoption of Nuclear Energy and the deployment of multiple projects is further predicted to boost the growth in the market because of the extensive usage of this used to control the pressure in reactor vessels and boilers, driving growth in the market. They are also used in the agriculture market and also associated markets such as the pesticide and fertilizer market, where different chemicals are stored in pressurized cylinders. Rising Prices of Raw Materials likely to hinder growth: The unpredictable and fluctuating prices of raw materials that are used in the construction of they are predicted to hinder the growth of the Pressure Relief Valves Market.Segment Analysis:
Based on the Material Type, the Pressure Relief Valves Market is segmented into cast iron, stainless steel, alloy and others. The Stainless Steel Pressure Relief Valves Market is expected to grow the most during the forecast period. The resilience to water and steam handling is the key factor for the growth of the Stainless Steel market. The alloy segment is also expected to grow significantly during the forecast period. Based on the End-User, the Pressure Relief Valves Market is segmented into Agriculture, Oil and Gas, Nuclear Energy and Others. The market for Agriculture Market is expected to witness significant growth during the forecast period. This can be attributed to the growth of the agricultural market and the extensive usage of this for irrigation and precise farming applications. The Oil and Gas segment held the largest market share of the market in 2022.Regional Insights:
The Asia Pacific region held the largest market share in 2022. The region is also expected to grow the most during the forecast period, which can be attributed to the rapid population growth and urbanisation in the region needing more resources in the form of Energy and Power, Construction and Agriculture markets. The Research and Development and advancements in structural design are conducted in Europe making it a key region for the Pressure Relief Valves Market. The objective of the report is to present a comprehensive analysis of the global Pressure Relief Valves Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the market dynamic, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Material type, End-User, price, financial position, product portfolio, growth strategies, and regional presence in the market make the report investor’s guide.Pressure Relief Valves Market Scope: Inquiry Before Buying
Pressure Relief Valves Market Base Year 2022 Forecast Period 2023-2029 Historical Data CAGR Market Size in 2022 Market Size in 2029 2018 to 2022 4.3% US$ 5.10 Bn US$ 6.86 Bn Segments Covered by Material Type Cast Iron Stainless Steel Alloys Others by End-User Agriculture Oil and Gas Nuclear Energy Others by Valve Type Spring Loaded Pilot Operated Dead Weight P and T Actuated by Pressure Low High Medium Regions Covered North America United States Canada Mexico Europe UK France Germany Italy Spain Sweden Austria Rest of Europe Asia Pacific China S Korea Japan India Australia Indonesia Malaysia Vietnam Taiwan Bangladesh Pakistan Rest of APAC Middle East and Africa South Africa GCC Egypt Nigeria Rest of ME&A South America Brazil Argentina Rest of South America Pressure Relief Valves Market Key Players
1. Emerson Electric Co. (US) 2. Parker Hannifin Corp (US) 3. Baker Hughes Company (UK) 4. Curtiss-Wright Corporation (US) 5. The Weir Group plc (UK) 6. ALFA Laval AB (Sweden) 7. CIRCOR International, Inc. (US) 8. IMI plc (Finland) 9. Mercer Valve Co., Inc. (USA) 10.LESER (Germany) 11.Cameron–Schlumberger Ltd.(US) 12.Bosch Rexroth (Germany) 13.Forbes Marshall (India) 14.Flow Safe, Inc. (US) 15.AGF Manufacturing, Inc (US) Frequently Asked Questions: 1. Which region has the largest share in Global Pressure Relief Valves Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Pressure Relief Valves Market? Ans: The Global market is growing at a CAGR of 4.3% during forecasting period 2023-2029. 3. What is scope of the Global Pressure Relief Valves market report? Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Pressure Relief Valves market? Ans: The important key players in the Global market are – Emerson Electric Co. (US), Parker Hannifin Corp (US), Baker Hughes Company (UK), Curtiss-Wright Corporation (US), The Weir Group plc (UK), ALFA Laval AB (Sweden), CIRCOR International, Inc. (US), IMI plc (Finland), Mercer Valve Co., Inc. (USA), LESER (Germany), Cameron–Schlumberger Ltd.(US), Bosch Rexroth (Germany), Forbes Marshall (India), Flow Safe, Inc. (US), AGF Manufacturing, Inc (US), and 5. What is the study period of this market? Ans: The Global market is studied from 2022 to 2029.
1. Global Pressure Relief Valves Market: Research Methodology 2. Global Pressure Relief Valves Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Pressure Relief Valves Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Pressure Relief Valves Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Pressure Relief Valves Market Segmentation 4.1 Global Pressure Relief Valves Market, by Material Type (2022-2029) • Cast Iron • Stainless Steel • Alloys • Others 4.2 Global Pressure Relief Valves Market, by End-User (2022-2029) • Agriculture • Oil and Gas • Nuclear Energy • Others 4.3 Global Pressure Relief Valves Market, by Valve Type (2022-2029) • Spring Loaded • Pilot Operated • Dead Weight • P and T Actuated 4.4 Global Pressure Relief Valves Market, by Pressure (2022-2029) • Low • High • Medium 5. North America Pressure Relief Valves Market(2022-2029) 5.1 North America Pressure Relief Valves Market, by Material Type (2022-2029) • Cast Iron • Stainless Steel • Alloys • Others 5.2 North America Pressure Relief Valves Market, by End-User (2022-2029) • Agriculture • Oil and Gas • Nuclear Energy • Others 5.3 North America Pressure Relief Valves Market, by Valve Type (2022-2029) • Spring Loaded • Pilot Operated • Dead Weight • P and T Actuated 5.4 North America Pressure Relief Valves Market, by Pressure (2022-2029) • Low • High • Medium 5.5 North America Pressure Relief Valves Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Pressure Relief Valves Market (2022-2029) 6.1. European Pressure Relief Valves Market, by Material Type (2022-2029) 6.2. European Pressure Relief Valves Market, by End-User (2022-2029) 6.3. European Pressure Relief Valves Market, by Valve Type (2022-2029) 6.4. European Pressure Relief Valves Market, by Pressure (2022-2029) 6.5. European Pressure Relief Valves Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Pressure Relief Valves Market (2022-2029) 7.1. Asia Pacific Pressure Relief Valves Market, by Material Type (2022-2029) 7.2. Asia Pacific Pressure Relief Valves Market, by End-User (2022-2029) 7.3. Asia Pacific Pressure Relief Valves Market, by Valve Type (2022-2029) 7.4. Asia Pacific Pressure Relief Valves Market, by Pressure (2022-2029) 7.5. Asia Pacific Pressure Relief Valves Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Pressure Relief Valves Market (2022-2029) 8.1 Middle East and Africa Pressure Relief Valves Market, by Material Type (2022-2029) 8.2. Middle East and Africa Pressure Relief Valves Market, by End-User (2022-2029) 8.3. Middle East and Africa Pressure Relief Valves Market, by Valve Type (2022-2029) 8.4. Middle East and Africa Pressure Relief Valves Market, by Pressure (2022-2029) 8.5. Middle East and Africa Pressure Relief Valves Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Pressure Relief Valves Market (2022-2029) 9.1. South America Pressure Relief Valves Market, by Material Type (2022-2029) 9.2. South America Pressure Relief Valves Market, by End-User (2022-2029) 9.3. South America Pressure Relief Valves Market, by Valve Type (2022-2029) 9.4. South America Pressure Relief Valves Market, by Pressure (2022-2029) 9.5. South America Pressure Relief Valves Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Emerson Electric Co. (US) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Parker Hannifin Corp (US) 10.3 Baker Hughes Company (UK) 10.4 Curtiss-Wright Corporation (US) 10.5 The Weir Group plc (UK) 10.6 ALFA Laval AB (Sweden) 10.7 CIRCOR International, Inc. (US) 10.8 IMI plc (Finland) 10.9 Mercer Valve Co., Inc. (USA) 10.10 LESER (Germany) 10.11 Cameron–Schlumberger Ltd.(US) 10.12 Bosch Rexroth (Germany) 10.13 Forbes Marshall (India) 10.14 Flow Safe, Inc. (US) 10.15 AGF Manufacturing, Inc (US)