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).
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.
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
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 -
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
Rest of Middle East
For enquiries e-mail us at sales@strategyR.com .
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.
Director, Corporate Communications
Global Industry Analysts, Inc.