Safety Valve Market with Focus on Current and Future Plans 2023

Safety Valve Market synopsis

The global safety valve market is expected to grow from USD 4.63 billion in 2018 to USD 5.62 billion by 2024, at a CAGR of 3.53%, during the forecast period.

The global safety valve market has been witnessing significant growth across the globe; the factors contributing to this growth include the ongoing industrialization in developing countries such as India. Furthermore, the continued advancements to increase output in the process manufacturing units drive the demand for latest technology safety valves in developed countries.

A safety valve is a mechanical device that regulates and controls the flow of fluid within an industrial unit. It is majorly used to regulate the pressure of vessels such as electric power boilers and gas storage tanks. The demand for safety valves has been growing at a steady pace, and it is expected to witness significant growth during the forecast period.  The key drivers for the market are the growing demand for safety valves from oil and gas refineries in GCC countries, the rise in nuclear energy generation, and stringent government regulations regarding the flow of fluid in the energy sector.

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Key players

The prominent players in the safety valve market are Emerson (US), General Electric (US), LESER (Germany), Schlumberger Limited (US), Alfa Laval (Sweden), IMI PLC (UK), Weir Group (UK), Forbes Marshall (India), Curtiss-Wright Corporation (US), Neway Valve (Suzhou) Co., Ltd. (China), Conbraco Industries Inc. (US), Robert Bosch GmbH (Germany), Danfoss A/S (Nordborg), Parker-Hannifin Corporation (US), and Frese Ltd (UK).

Segmentation

Safety valve market has been segmented based on material, size, end-use verticals, and region.

By material, the market has been segmented stainless steel, cast iron, brass, alloy based, cryogenic, and others.

By size, the market is segmented into less than 6”, 7" to 25", 26" to 50", and 50" and above.

By end user, the market has been segmented oil & gas, agriculture, energy & power, chemicals, food & beverages, water & wastewater treatment, and others.

By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

Regional analysis

The global market for safety valve market is estimated to grow at a significant rate during the forecast period from 2018 to 2024. The geographic analysis of the safety valve market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world. 

Asia-Pacific accounted for the highest share in the safety valve market in 2017, and it is expected to register the highest CAGR during the forecast period. The growth in the market in this region is attributable to factors including ongoing infrastructure development, the rapid pace of industrialization, and growing investments in end-use industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction. Furthermore, the demand from the oil-producing region—the Middle East and Africa (MEA)—is expected to remain high owing to the rise in production.

TABLE OF CONTENTS

1 Executive Summary

1.1 Market Attractiveness Analysis

1.2 Global Safety Valve Market, By Material

1.3 Global Safety Valve Market, By Type

1.4 Global Safety Valve Market, By End-Use Vertical

1.5 Global Safety Valve Market, By Region

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.3 Markets Structure

2.4 Key Buying Criteria

2.5 Macro Factor Indicator Analysis

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

3.5 List Of Assumptions

4 Market Insights

5 Market Dynamics

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Challenges

5.6 Technological Trends

5.7 Regulatory Landscape/Standards

Continued…

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LIST OF TABLES

Table 1 Global Safety Valve Market, By Region, 2018–2024

Table 2 North America: Safety Valve Market, By Country, 2018–2024

Table 3 Europe: Safety Valve Market, By Country, 2018–2024

Table 4 Asia-Pacific: Safety Valve Market, By Country, 2018–2024

Table 5 Middle East & Africa: Safety Valve Market, By Country, 2018–2024

Continued…

LIST OF FIGURES

FIGURE 1 Global Safety Valve Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis Of The Global Safety Valve Market

FIGURE 4 Value Chain Of The Global Safety Valve Market

FIGURE 5 Share Of The Global Safety Valve Market In 2018, By Country (In %)

Continued…

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