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Global Safety Valves Market: Overview

The global safety valves market has grown steadily over the years, owing to its wide range of applications in several industries. Safety valves mainly act as a fail-safe. A prominent example of safety valve is pressure relief valve which is basically used to control the pressure within a system at the time of process upset or equipment failure. Safety valves mainly operate at a predetermined pressure for protecting equipment from unsafe pressure.  Moreover, such valves releases substance automatically from a pressure vessel and boiler when the temperature or pressure exceeds the preset limits. Such USPs are majorly driving the global safety valves market.

From the perspective of material types, the global safety valves market is segmented into cast iron, stainless steel, and alloy cryogenic. Among these materials, stainless steel safety valve accounts for the maximum share in the global safety valves market and is expected to boost the global safety valves market during the forecast period. This is because of the soaring demand for efficient and high-quality safety valve to mitigate the contamination threat in several critical processes such as steam and water handling, chemical industries, and in food and beverages. Such advantages are fueling growth in the global safety valves market.

Global Safety Valves Market: Notable Developments

Some of the recent developments are contouring the shape of the global safety valves market in a big way which include:

  • Baker Hughes expanded a steam test facility in Italy and Naples in 2018, for better serving the European aftermarket with ASME Section 1 safety valves for several steam applications. This new plant expand the product scope and also the plant’s capacity for including the full range of consolidated safety valves, which is up to 2000 psi test pressure.
  • Alfa Laval launched an aseptic double-seat safety valve in October 2018, Such valve reduces the total ownership costs for food and beverages, dairy, and other manufacturers compared to the leading double-seat Mixproof Valves.
  • Yamgaz, a joint-venture awarded Weir Flow Control France a contract for supplying critical service safety valves for Yamal LNG, which is the major LNG protector in Northern Russia.

Key players operating in the global safety valves market include Forbes Marshall, LESER, Weir Group Plc, Bosch Rexroth, Curtiss-Wright Corporation, and Alfa Laval.

Global Safety Valves Market: Key Growth Drivers

The major factor influencing the growth of the global safety valve market is rapidly rising the oil and gas sector in the developing economies. Apart from this, rapid growth in the pharmaceuticals, paper and pulp, chemical processing, and power generation industry are also contributing to the growth of the global safety valve market. Rising number of accidental incidences in various industries, and soaring demand for safety valves in several industrial operations are also providing impetus to the growth of the global safety valve market.

Furthermore, various regulatory bodies’ initiatives in forming several regulations for improving operational safety and enormous demand for high performance pressure relief valves are also propelling expansion in the global safety valve market.

Global Safety Valves Market: Regional Outlook

On the regional front, North America is anticipated to hold the major market share in the global safety valve market. This is because of the rapid industrialization and rapid usage of high-end technology in the region. Along with this, rapid establishment of several market players and flourishing oil and gas industry are also fueling growth in the safety valve market in this region.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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