Pressure relief valve: Key market research findings
- Increasing demand for pilot-operated pressure relief valves
- Growing demand across new sectors
Technavio’s market research analysts estimate the global pressure relief valve market, to grow at a CAGR of 2% between 2016 and 2020. The oil and gas, power, chemical, food and beverages, pulp and paper, and pharmaceuticals industries are the major end-users of pressure relief valves, as these control the excess pressure generated by the flow of fluids, gas, or steam in the production process. EMEA is the largest revenue-generating region in the global pressure relief valve market, accounting for 38% of the total market share. The presence of a large number of oil and gas-producing companies in Russia, Saudi Arabia, Iran, Kuwait, and the United Arab Emirates has led to increasing demand for pressure relief valves from these countries.
Global pressure relief valves market by end-users (2020)
Source: Technavio, 2016
“The global pressure relief valve market is witnessing increasing demand for pilot-operated pressure relief valves. Unlike a spring-loaded pressure relief valve, the pilot-operated valve uses the process pressure to keep the valve closed. This can withstand high pressure and does not open unless the set pressure is reached. The pilot-operated pressure relief valves solves back pressure problems and can resist more than 40% of the valve set pressure,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
Pressure relief valves increase the operational efficiencies of the industrial production process. As these advanced pressure relief valves are more energy efficient and reliable, they enhance the overall plant efficiency. They enhance safety measures when used in process industries. Of late, there has been high demand for these pressure relief valves from process industries, including water and wastewater management, oil and gas, paper and pulp, chemicals, petrochemicals, and power.
The leading vendors in the global pressure relief valve market include Pentair, GE, Curtiss Wright, Weir Group and Leser. The market is highly fragmented and is characterized by the presence of well-diversified international, regional, and local suppliers. The market has several local and regional vendors providing various pressure relief valves with a high level of customization at a comparatively lower price than those of international suppliers. Competition in this market is expected to intensify during the forecast period due to growing product extensions, technological innovations, and mergers and acquisitions.
A more detailed analysis is available in the Technavio report, Global Pressure Relief Valves Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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