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.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in 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.

.