Safety Valves Market

Analysis from GMI Research finds that the Safety Valves Market earned revenues of USD 4.8 billion in 2021 and forecast to touch USD 6.6 billion in 2029 will grow at a CAGR of 4.1% from 2022-2029.

To have the edge over the competition by knowing the market dynamics and current trends of “Safety Valves Market,” request for Sample Report here

Key Drivers

The major factors which are driving the growth of the Safety Valves market include the increasing demand in the oil & gas sector, the growing importance of safety valve across various industrial process such as chemical, water &wastewater treatment, and energy & power, followed by therapid growth in nuclear energy generation. The expansion in the oil & gas sector, especially in the developing economies, along with increasing growth in chemical processing, paper & pulp, energy & power generation, and pharmaceuticals sector is further propelling the growth of the market. The rising number of accident incidences across several industries is leading to an increase in the demand for safety valves for various industrial operations. Numerous regulatory bodies’ initiatives focusing on increasing operational safety and the huge requirement for high-performance pressure relief valves will further complement the growing demand of the market. Moreover, the growing usage of 3D printer in manufacturing and constant requirement for safety valve replacement will create new growth opportunities in the market. On the other hand, the high cost of fabrication is likely to hamper the growth of the safety valve market.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Material – Segment Analysis

Based on the material, the cryogenic segment is expected to grow at a higher CAGR during the forecast period. The increasing trend in the oil & gas sector and growing focus on cleaner fuel is leading to an increase in the demand for cryogenic material to handle cryogenic temperature safely, which is boosting the growth of the market during the forecast period. The stainless-steel segment is expected to lead the market during the forecast period owing to the strong demand for high-quality safety valves to reduce the risk of contamination in crucial processes in various industries such as food & beverages, water & water treatment, chemical industries, and other industries.

Industry – Segment Analysis

Based on the industry, the agriculture segment is projected to grow at a higher CAGR in the market during the forecast period owing to accelerated adoption of safety valve for irrigation and precision farming application. Brass, stainless steel, and plastics material-based safety valve are widely used in the agriculture sector. The Oil & gas industry is projected to lead the market during the forecast period due to the rapid growth in the oil & gas sector, followed by the recent discovery of shale gas in North America, and growing requirement for cleaner fuel. In addition to this, the increasing demand for oil & gas across largely populated countries such as China and India, is further fuelling the demand for safety valve.

In case, any of your paint points areas are not covered in the current scope of this report, Request for Customization here

Regional – Segment Analysis

Based on the region, Asia-pacific is anticipated to lead the global Safety Valvesmarket during the forecast period. Growing urbanization andrapid growth in population, especially in China and India, are likely to increase the infrastructural development in this region, which in turn, will fuel the demand for safety valve across industries such as oil & gas, food & beverages, agriculture, energy & power, chemical and other industries.

Top Market Players

The major key players in the market include Emerson Electric Co., Weir Group plc, Forbes Marshall, Curtiss-Wright Corporation, Schlumberger, Bosch Rexroth AG, Baker Hughes (A GE Company), IMI plc, Alfa Laval AB, LESER GmbH & Co. KG, among others.

Key Developments:

• • In Sep 2019, Emerson acquired the Spence and Nicholson product lines from Circor International. This acquisition expands the Emerson product portfolio of steam system solutions for process industries and commercial buildings. The Spence and Nicholson line products include steam regulators, control valves, safety relief valves, temperature regulators, steam traps and other steam accessories and solutions.
  • In Nov 2018, Baker Hughes opened a new facility in Naples, Italy, to serve the European aftermarket with safety valves for steam applications. The new plantis expanding the product scope and capacity of the plant, including a full range of Masoneilan control valves, and Consolidated safety valves, up to 2000 psi (140 Bar) test pressure.

Segments covered in the Report:

The Global Safety Valves market has been segmented based on the material, size, industry, andregion. Based on material, the market is segmented Steel, Cast Iron, Alloy, Cryogenic, and Others. Based on Others, the market is further segmented into Brass, Bronze, and Plastic. Based on size, the market is segmented into Up to 1″, 1″ to 6″, 6″ to 25″, 25″ to 50″, and 50″ and Larger. Based on Industry, the market is segmented into Oil & Gas, Energy & Power¸ Chemicals, Water & Wastewater, Building & Construction, Pharmaceuticals, Agriculture, Metal & Mining, Paper & Pulp, Food & Beverages, and Others.

For detailed scope of the “Safety Valves Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is the global Safety Valves market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Safety Valves market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Safety Valves market?
  • Which Material generated maximum revenues in 2021 and identify the most promising Material during the forecast period?
  • What are the various industries of the global Safety Valves market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Safety Valves Market by Material       

• • Steel
  • Cast Iron
  • Alloy
  • Cryogenic
  • Others
    • Brass
    • Bronze
    • Plastic

Global Safety Valves Market by Size               

• • Up to 1″
  • 1″ to 6″
  • 6″ to 25″
  • 25″ to 50″
  • 50″ and Larger

Global Safety Valves Market by Industry       

• • Oil & Gas
  • Energy & Power
  • Chemicals
  • Water & Wastewater
  • Building & Construction
  • Pharmaceuticals
  • Agriculture
  • Metal & Mining
  • Paper & Pulp
  • Food & Beverages
  • Others

Global Safety Valves Market by Region

• • North America Safety Valves Market (Option 1: As a part of the free 25% customization)

• • • By Material
    • By Size
    • By Industry
    • US Market All-Up
    • Canada Market All-Up

• • Europe Safety Valves Market (Option 2: As a part of the free 25% customization)

• • • By Material
    • By Size
    • By Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

• • Asia-Pacific Safety Valves Market (Option 3: As a part of the free 25% customization)

• • • By Material
    • By Size
    • By Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

• • RoW Safety Valves Market (Option 4: As a part of the free 25% customization)

• • • By Material
    • By Size
    • By Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Safety Valves (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Emerson Electric Co.
  • Weir Group plc
  • Forbes Marshall
  • Curtiss-Wright Corporation
  • Schlumberger
  • Bosch Rexroth AG
  • Baker Hughes (A GE Company)
  • IMI plc
  • Alfa Laval AB
  • LESER GmbH & Co. KG