Safety Valve Market Highlights
Safety valves are precautionary and preventive valves that actuate automatically when the preset safety valve pressure and temperature is exceeded. Safety valves protect critical equipment from damage by releasing excess pressure without any electrical support.
The global safety valve market is projected to be valued at USD 5.12 Billion by 2025, with ~5.02% CAGR during the forecast period, 2019–2025. Safety valves protect the equipment from exploding or damaging and are mainly installed in pressure vessels. Safety valves not only provide safety to equipment but also to the workforce.
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The key players operating in the global safety valve market are Emerson Electric Co (US), , IMI plc (UK), ALFA LAVAL (Sweden), The Weir Group PLC (Scotland), Schlumberger Limited (US), Curtiss-Wright Corporation (US), Forbes Marshall (India), , Danfoss (Denmark), LESER GmbH & Co. KG (Germany), Bosch Rexroth AG (Germany), General Electric (US), and Spirax Sarco Limited (UK).
The global safety valve market has been segmented into six regions, which are Asia-Pacific, North America, Europe, the Middle East, Africa, and South America. According to the Asian Development Bank (ADB), in 2017, Asia-Pacific needs to invest USD 1.7 trillion per year in infrastructure until 2030 to maintain its growth momentum. Furthermore, the regulatory and institutional reforms are needed to make infrastructure more lucrative for private investors and to create a pipeline of projects for public-private partnerships. Safety valves in construction industry are mostly used to regulate the flow of liquid in firefighting systems, piping systems, and water supply systems. Hence, Asia-Pacific accounts for the largest share in the safety valve market due to a growing construction industry and the various opportunities for the safety valve market players.
The market in North America is expected to be the second largest market for safety valves, owing to increasing investments in the construction industry. The construction industry in the US is expected to grow faster than the market in China over the next 15 years, which is expected to result in the extensive installation of safety valves in the construction industry. As per the US Department of Commerce, in January 2019, the total expenditure on residential and non-residential construction was approximately USD 1,307.34 billion. These investments are expected to boost the safety valves market in the region as safety valves provide the desired pressure and flow of liquid within any system.
The safety valve market in Europe is expected to be dominated by Germany owing to increase in power generated from renewable energy resources driving the safety valve market in this country.
The safety valve market within the Middle East & Africa is dominated by Saudi Arabia due to petrochemical industry in the country.
The safety valve market in South America is dominated by Brazil due to it being the largest oil producing country in the region. Moreover, Brazil is also expected to have the highest CAGR during the forecast period.
The global safety valve market has been segmented based on material, size, and end-use. On the basis of material, the global market includes through steel, alloy, cast iron, cryogenic, and others. The steel segment is expected to dominate the global market and is likely to grow with the highest CAGR. On the basis of size, the global market is segmented into less than 1”, 1″ to 10″, 11″ to 20″, and 20″ and above.
Scope of the Report
This report provides an in-depth analysis of the global safety valve market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for North America, Asia-Pacific, Europe, the Middle East & Africa and South America. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global safety valve market by material, size, end-use, and region.
- Cast Iron
- Less than 1”
- 1” to 10”
- 11” to 20”
- 20” and Above
- Oil & Gas
- Energy & Power
- Food & Beverage
- Water & Wastewater Treatment
- By Regions
- North America
- Middle East & Africa
- South America
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