Global Stainless Steel Safety Valve Market – Introduction
Safety valve is a safety device designed to protect pressure vessels from exploding and damaging. Stainless steel safety valves are majorly installed in pressure vessels, such as electric power boilers, gas storage tanks, and chemical plants, among others. Safety valve is also termed as ‘safety relief valve’ or ‘pressure relief valve’. There is a wide range of stainless steel safety valves available to match the requirement of various application areas and different industries. The primary purpose of a safety valve is protection of life and property by venting fluid from an over pressurized vessel.
Global Stainless Steel Safety Valve Market – Competition Landscape
Emerson Electric Co.
Emerson Electric Co. was incorporated in the year 1890. The company is headquartered in Ferguson, Missouri, the U.S. This company has its corporate offices and facilities in 215 locations across the globe. The company manufactures its products and provides engineering services for a wide range of industrial, commercial, and consumer markets.
LESER GmbH & Co. KG
LESER GmbH & Co. KG was incorporated in 1818 and is headquartered in Hamburg, Germany. The company has around 950 employees across the globe. This company has eight subsidiaries in Europe, the U.S., the Middle East, and Asia, and sales partners in over 80 countries. LESER GmbH & Co. KG produces around 125,000 safety valves per year in its production plants based at Hohenwestedt, Germany for global markets, and in Pathain, India and Tianjin, China for local markets.
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Bosch Rexroth AG
Bosch Rexroth AG was incorporated in 2001 and is based in Lohr am Main, Germany. The company has around 32,300 employees globally. Bosch Rexroth AG is a wholly owned subsidiary of Robert Bosch GmbH. The company offers mechanical and plant engineering solutions to global customers with its cutting-edge technology and unique industry knowledge. It provides such systems in fields of electric drives and controls, industrial hydraulics, linear technology, and pneumatics, among others.
Other key players operating in the global stainless steel safety valve market includes Cameron–Schlumberger Ltd., IMI Plc., Baker Hughes, Forbes Marshall, Weir Group Plc, Alfa Laval, Curtiss-Wright Corporation, etc.
Global Stainless Steel Safety Valve Market – Dynamics
Increase in Trend of Using 3D Printers in Production Lines
Use of 3D printers in production lines of different industries is increasing. With the assistance of 3D printing systems or platforms, manufacturers can easily mass produce custom parts at a significantly lower cost than manual alternatives. Additive Manufacturing (AM) or 3D printing has the potential to change the approach or the way of functioning of various sectors. This technological development is anticipated to drive the market for stainless steel safety valve in the near future.
Growth of Oil & Gas and Power Industries
Growth of power and oil & gas industries is anticipated to drive the global stainless steel safety valve market. The Middle East and Asia Pacific are projected to be major markets for stainless steel safety valves during the forecast period. Economy of countries such as the United Arab Emirates, Iran, Saudi Arabia, Kuwait, and other Asian countries majorly depend on the oil & gas industry. Exploration of other alternatives or sources of power generation is projected to boost the demand for stainless steel safety valves during the forecast period.
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Global Stainless Steel Safety Valve Market – Segmentation
The global stainless steel safety valve market can be segmented based on:
Global Stainless Steel Safety Valve Market, by Type
Based on type, the global stainless steel safety valve market can be divided into:
- Spring Loaded Safety Valve
- Balanced Safety Valve
- Piston Type Balanced Safety Valve
- Bellows Type Balanced Safety Valve
- Pilot-operated Safety Valve
- Others (Full lift, high lift, and low lift, etc.)
Global Stainless Steel Safety Valve Market, by Application
In terms of application, the global stainless steel safety valve market can be segregated into:
- Oil & Gas
- Water & wastewater
- Others (Foods & beverages, construction, etc.)
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