Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) -- The "Pressure Relief Valves - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Pressure Relief Valves Market to Reach $4.4 Billion by 2026
The global market for Pressure Relief Valves estimated at US$3.8 Billion in the year 2022, is projected to reach a revised size of US$4.4 Billion by 2026, growing at a CAGR of 3.4% over the analysis period.
Spring Loaded, one of the segments analyzed in the report, is projected to record a 3.3% CAGR and reach US$2.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pilot Operated segment is readjusted to a revised 3.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $697.3 Million in 2022, While China is Forecast to Reach $727.5 Million by 2026
The Pressure Relief Valves market in the U.S. is estimated at US$697.3 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$727.5 Million by the year 2026 trailing a CAGR of 4.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 2.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.
Low labor cost and production cost and less-stringent regulations in the Asia-Pacific region are 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.
Pressure & Temperature Actuated Segment to Reach $603.3 Million by 2026
In the global Pressure & Temperature Actuated segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$317 Million will reach a projected size of US$406 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$97.1 Million by the year 2026, while Latin America will expand at a 4.4% CAGR through the analysis period.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- COVID-19 Outbreak Poised to Dent Market Prospects in the Immediate Term
- Established Use Case Across Diverse Sectors to Renew Market Demand in Post COVID-19 Period
- An Introduction to Pressure Relief Valve
- Evolution of PRVs
- Key Components of Pressure Relief Valve
- Parameters to Consider for Selecting PRVs
- Identifying Failure of Pressure Relief Valves
- Select Technical Terms Associated with PRV Operation
- Standards and Codes for Pressure Relief Valves
- Pressure Relief Valves (PRV) vs. Pressure Safety Valves (PSV)
- Product Types of Pressure Relief Valves
- PRV Types by Set Pressure
- Key End-Uses of PRVs
- Pressure Relief Valves: Global Market Overview and Outlook
- Spring Loaded PRVs: Largest Product Segment
- World Pressure Relief Valves Market by Product Type (2020 & 2027): Percentage Breakdown of Sales for Spring Loaded, Pilot Operated, Pressure & Temperature Actuated, and Dead Weight
- Regional Market Analysis
- World Pressure Relief Valves Market (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
- World Pressure Relief Valves Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
- Competition
- Recent Market Activity
- Select Global Brands
- Competitive Market Presence - Strong/Active/Niche/Trivial for 82 Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERSSelect Competitors (Total 82 Featured):
- Alfa Laval AB
- Apollo Valves
- Baker Hughes Company
- Curtiss-Wright Corporation
- Emerson Electric Co.
- Flow Safe, Inc.
- Forbes Marshall
- Goetze KG Armaturen
- IMI plc
- LESER GmbH and Co. KG.
- Pentair plc
- The Weir Group PLC
- Velan, Inc.
3. MARKET TRENDS & DRIVERS
- Thrust Towards Digitalization and Automation across Industries Augurs Well for Long-Term Growth
- Rise of Industry 4.0 & Smart Factory Mandates Technology Adjustments to Pressure Relief Valve Technology
- Global Investments on Industry 4.0 Technologies
- IIoT to Stir Adoption of Pressure Relief Valve Digitalization
- Despite the Current Depressive Scenario, Oil & Gas Sector to Remain Dominant End-Use Sector
- Relevance in Power Industry
- China and India Lead the Global Rise in Demand for Electricity
- Sustained Opportunities in Nuclear Power Sector
- Widespread Use in Chemicals Industry
- Water & Wastewater Industry: Infrastructure Development Drives Demand
- Pulp & Paper Industry: Unique Needs of Mills Set Demand Trends
- Urban Sprawl Extends Broad-based Opportunities
- Smart City, the New Urban Infrastructure Concept, to Fuel Fresh Wave of Growth
- Technology Innovations & Advancements
- Technology Improvements Augment Product Design & Efficiency
- Cartridge Valves: A Key Development in Pressure Relief Valve Segment
- Regulations, Codes and Standards
- Issues & Challenges
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/xdy5ck
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