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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Pressure Relief Valves market. Market segmentation includes Product Type (Spring Loaded, Pilot Operated, Pressure & Temperature Actuated, and Dead Weight); Set Pressure (Low Pressure, Medium Pressure, and High Pressure); End-Use (Oil & Gas, Chemical Processing, Power Generation, Paper & Pulp, and Other End-Uses).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

24 November 7:18 a.m., Silicon Valley, California - According to the new market research report, the global market for Pressure Relief Valves is projected to grow at a CAGR of 3.4% to reach US$4.6 billion by 2027, driven by anticipated long term growth of end-use industries, low labor cost and production cost and less-stringent regulations in developing countries, rapid advancement of nuclear energy generation, continuous need for replacement of safety valves in industrial processes and increased use of additive manufacturing in production lines. The global Pressure Relief Valves market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Spring Loaded, one of the product types analyzed and sized in this study, is forecast to grow at over 3.3% and reach a market size of US$2 billion by the end of the analysis period. The United States is forecast to readjust to a 3% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$202 million growing at a CAGR of 2.6% over the next couple of years. In addition, over US$251 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Medium Pressure valve segment will reach a market size of US$149 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Oil & Gas end-use segment in this country against this backdrop will grow at a CAGR of 5.5% over the next couple of years to create an addressable market opportunity worth US$296 million by the year 2027.

Pressure Relief Valves (PRVs) control pressure in a vessel or system in case of process upset or equipment failure. PRVs are used for ensuring proper vessel or system functioning by helping in letting out of pressure from them and sustaining smooth performance. Extra pressure is relieved via auxiliary passages. The valves are used by many industries including power, oil and gas, paper and pulp, pharmaceuticals and food & beverage among others. Anticipated long term growth of these industries, especially in countries like India and China, aids PRV market growth. Low labor cost and production cost and less-stringent regulations in the Asia-Pacific region encourage expansion of such industries, driving demand for PRVs. Rapid advancement of nuclear energy generation also constitutes a major factor driving growth for the global market for PRVs. Around fifty reactors are currently under construction worldwide. PRVs are critical for safe and successful operation of nuclear power generation plants. They aid in protecting super heaters, boilers and turbines and help stations smoothly operate at preset pressures. Factors such as continuous need for replacement of safety valves in industrial processes and increased use of additive manufacturing in production lines constitute a few other factors promoting market growth. However, PRV fabrication is expensive, a factor with the potential to hinder anticipated market growth over the coming years. The valves are also used in industrial environments that are harsh driving the need for continuous monitoring of their performance. Replacement demand for PRVs is therefore high. Increased need for replacement of the valves is anticipated to positively impact market growth over the coming years. Furthermore, companies manufacturing PRVs are ensuring smooth integration of their products with IoT. Positioning sensors and such other modern sensors are being integrated into the valves for providing them with greater accuracy. Demand had also lately increased for high performance PRVs amidst increasing regulations in countries across the world for improving operational safety of several industries. Demand is also anticipated to increase for smart PRVs with the increase in remote applications and rise in digitalization.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 2759. Among this pool, 497 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 83 unique participations, a total of 37 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Emerson Electric Company
GE Healthcare Life Sciences
Alfa Laval AB
Curtiss-Wright Corporation
Flowserve Corporation
Pentair PLC
Watts Water Technologies, Inc.
Bopp & Reuther Messtechnik GmbH
IMI Precision Engineering
LESER GmbH & CO. KG
NEWAY VALVE (SUZHOU) CO., LTD.

Segments Covered in the Report -
Product Type (Spring Loaded, Pilot Operated, Pressure & Temperature Actuated, Dead Weight)
Set Pressure (Low Pressure, Medium Pressure, High Pressure)
End-Use (Oil & Gas, Chemical Processing, Power Generation, Paper & Pulp, Other End-Uses)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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