Pressure Relief Valve Market

Global Market Study on Pressure Relief Valves: Spring Loaded Valves to Remain Highly Preferred

Global Pressure Relief Valve Market Analysis and Review by Product Type (Spring Loaded Pressure Relief Valves, Pilot operated Pressure Relief Valves, Dead Weight Pressure Relief Valves, P&T Actuated Pressure Relief Valves)

Report ID: PMRREP15517

Number of Pages: 235

Format: PPT*, PDF, EXCEL

Industry: Industrial Automation

Published Date: December-2022

Report Price

$4900*

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Global Pressure Relief Valve Outlook (2023-2033)

In 2023, the sales of Pressure Relief Valve in Global Market is expected to reach US$ 4,509.8 Mn. and is projected to expand steadily at a CAGR of 4.6% to reach a market valuation of close to US$ 7,070.9 Mn by 2033.

Attribute

Details

Europe Pressure Relief Valve Market Size (2022A)

US$ 4,331.6 Mn

Estimated Market Size (2023E)

US$ 4,509.8 Mn

Projected Market Value (2033F)

US$ 7,070.9 Mn

Value CAGR (2023-2033)

4.6%

Collective Share: Top 3 Countries (2023E)

37.5%

In recent past valve costs have increased globally, which can be attributed to growing tariffs from the North American region, particularly the US. Leading players from the European and American regions have facilities in both high- and low-income nations. In contrast, labor-intensive production processes like the creation of rough castings for valves and valve components take occur in low-cost manufacturing nations like China. These processes include design, research and development, and testing. Due to low prices and quality maintenance, OEMs are able to do so. However, growing US government tariffs on steel and aluminum imports from China have had a substantial negative influence on pressure relief valve profit margins and costs.

However, the rapid growing industrialization and increasing safety precaution are the factors that are expected to fuel the market growth of Pressure relief valves across the globe during the assessment period, the Pressure relief valve market is expected to experience demand growth with CAGR of 4.6% during the forecasted period.

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Demand Analysis of Europe Pressure Relief Valve (2017-2022) Vs. Market Forecasts (2023-2033)

From 2017 to 2022, the Global Pressure Relief Valve Market expanded at a CAGR of around 2.4%. The advancement in product technology to connect the valves digitally enables end users to monitor pressure in various applications digitally which has generated significant demand from the various industry sector during the forecasted period.

Numerous applications where pressure levels are crucial for continuous and efficient machinery performance demand for the utilization of pressure relief valves. These include the various sectors operating with steam, air, gas, or liquid such as oil and gas, power generation and the petrochemicals industry. Multiphase applications and chemical processing systems both have high installation rate of pressure relief valves. With rapid development industrial sector & expansion of oil & Gas pipelines across the developing as well as developed economies the demand for PRV is also expected to expand, Persistence Market Research expects the market to expand at a 4.6% CAGR through 2033.

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What are the Key Opportunities in Europe for Pressure Relief Valve Companies?

“Expanding Oil & Gas Sector Boosting the Market Growth”

Both emerging and advanced regions have seen a surge in oil and gas consumption. In order to meet the rising demand and supply for oil and gas, industries are concentrating on expanding their production facilities through onshore and offshore exploration. Since the oil and gas sector is one of the key end uses for the global pressure relief valves market thus expanding oil & gas Sector is generating lucrative opportunity for the demand growth of PRVs in upcoming period.

Furthermore, growing regulation for use of pressure relief valves in power generation sector is further set to create opportunities for the market. For instance, there are currently about 50 nuclear reactors under development. By safeguarding turbines, super heaters, and boilers to enable the stations to operate at prescribed pressures, pressure relief valves play a crucial part in the successful and safe operations of nuclear facilities.

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What are the Factors Hindering the Market Growth of Pressure Relief Valve Market Globally?

“Advancement in the Remanufacturing Process Impacting the Market Growth”

Manufacturing businesses will be significantly and directly impacted by the Asia Pacific region's volatile and uncertain markets. The operational costs of the manufacturing processes, which are the main concern of manufacturers, will be directly impacted by rising tariffs and raw material costs used to manufacture valves. Rising raw material costs immediately impact the integrity of the supply chain and the selling price of a product. Manufacturers in the Asia Pacific region are becoming increasingly concerned about the steady growth in cost of the raw materials used to make pressure relief valves. This is expected to, restrain the market's expansion for pressure relief valves.

Which Region Offers the Largest Opportunity for Sales of Pressure relief valves?

With an absolute dollar opportunity of around US$ 600.0 Mn, North America is expected to be the most lucrative market for pressure relief valves suppliers. U.S is leading the North American market, and is expected to witness a 1.5X growth during 2023-2033. The market for pressure relief valves has recently experienced considerable growth in sales as a result of growing industrialisation and advancements in urban waste water management systems. Apart from that U.S. is also second largest importer & Exporter of Pressure relief valves, which makes it a targeting region for the manufacturers & Suppliers.

Country-wise Insights

Which is the most prominent market for Pressure Relief Valve in Europe?

“Germany is Anticipated to hold more than 1/5th Market Share in European market”

In 2023, the German Pressure Relief Valve market is likely to hold around 25% of the market by value share in Europe. Germany's extensive remanufacturing capabilities are likely to play a crucial part in development of industrial growth. Sales growth for pressure relief valves is anticipated to be boosted in the upcoming years as manufacturers are planning to invest more in safety & developments of industrial Sites.

Why the Demand of Pressure Relief Valve is Surging in India Market?

With a CAGR of 5.9%, India is expected to lead the South Asian market throughout the assessment period and experience significant expansion. Pressure relief valve demand is anticipated to increase as a result of India's low production and labour costs, as well as less regulations & certifications required for PRVs, which are encouraging various industry players, including oil & gas, pharmaceutical, chemical, and textile manufacturers, to expand their manufacturing facilities in India.

Category-wise Insights

By Product Type, Which Type of Pressure Relief Valves is Highly popular Amongst the End Users?

By the end of the assessment period, spring-loaded pressure relief valves will hold a value share of over 40% of the market for pressure relief valves worldwide. Due to its broad range of applications and other technological advantages over other valves, this valve is widely utilized. The design and use of pressure relief valves is covered by a number of international codes and standards, the most popular of which being the ASME (American organization for mechanical engineers) Boiler and Pressure Vessel Code, also known as ASME code. Despite the fact that this code varies by region.

By Set Pressure Segment, Which Pressure Range of Pressure relief valves is Highly in Demand?

In 2023, the demand for pressure relief valves is primarily driven by the Medium Pressure segment in Set Pressure segment of the market. By the end of the forecast period, it is projected that pressure relief valves with a medium pressure range will still be widely utilized in a variety of end use sectors. The market for medium pressure relief valves is expected to continue expanding due to rising end-use sectors including oil and gas, chemical, and others.

Competitive Landscape

The majority of the companies profiled in the report have emphasized mergers and acquisitions over product launches. Innovation, partnerships, strategic alliances, collaboration, and bolstering local and international distribution networks are all examples of strategies.

Some of the prominent players operating in the market are -

  • Emerson Electric Co.
  • Parker Hannifin Corp.
  • Watts
  • Baker Hughes
  • Rexnord Corporation
  • Curtiss-Wright Corporation
  • The Weir Group plc
  • ALFA Laval AB
  • CIRCOR International, Inc.
  • IMI plc
  • Mercer Valve Co., Inc.

Europe Pressure Relief Valve Market Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2017-2022

Market Analysis

  • USD Million for Value
  • Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAM
  • Australia
  • New Zealand
  • GCC
  • Turkey
  • South Africa

Key Segments Covered

  • By Product Type
  • By Set Pressure
  • By End User
  • By Country

Key Companies Profiled

  • Emerson Electric Co.
  • Parker Hannifin Corp.
  • Watts
  • Baker Hughes
  • Rexnord Corporation
  • Curtiss-Wright Corporation
  • The Weir Group plc
  • ALFA Laval AB
  • CIRCOR International, Inc.
  • IMI plc
  • Mercer Valve Co., Inc..

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Global Pressure Relief Valve Market by Category

By Product Type, the Global Pressure Relief Valve Market is segmented as:

  • Spring Loaded Pressure Relief Valves
  • Pilot operated Pressure Relief Valves
  • Dead Weight Pressure Relief Valves
  • P&T Actuated Pressure Relief Valves

By Set Pressure, the Global Pressure Relief Valve Market is segmented as:

  • Low Pressure Relief Valves
  • Medium Pressure Relief Valves
  • High Pressure Relief Valves

By End User, the Global Pressure Relief Valve Market is segmented as:

  • Pressure Relief Valves for Oil & Gas
    • Upstream
    • Midstream
    • Downstream
  • Pressure Relief Valves Chemical Processing
  • Pressure Relief Valves Power Generation
  • Pressure Relief Valves Paper & Pulp
  • Pressure Relief Valves Food & Beverages
  • Pressure Relief Valves Pharmaceuticals
  • Others

By Region, the Global Pressure Relief Valve Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

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Companies Covered in This Report

  • Emerson Electric Co.
  • Parker Hannifin Corp
  • Watts
  • Baker Hughes Company
  • Rexnord Corporation ( Zurn Trchnologies)
  • Curtiss-Wright Corporation
  • The Weir Group plc
  • ALFA Laval AB
  • CIRCOR International, Inc.
  • IMI plc
  • Mercer Valve Co., Inc.
  • Flow Safe, Inc.
  • AGF Manufacturing, Inc
  • Mercury Manufacturing Company
  • Groth Corporation
  • HYDAC
  • LESER GmbH & Co. KG
  • Goetze KG Armaturen
  • Yuanda Valve Group Co., Ltd

Frequently Asked Questions

The Global Pressure Relief Valve Market is expected to reach US$ 4,509.8 Mn in 2023.

The demand for Pressure Relief Valve will increase by 4.6% during the forecasted period from 2023 to 2033.

Emerson Electric, IMI plc, LESER GmbH & Co. KG, GE –Baker Hughes and Curtiss-Wright Corp and others are the leading market players which hold around 22 to 25% of the market share.

The demand in Germany is expected to increase by 4.1% CAGR from 2022 to 2032 on a value basis.

U.S., China, and Germany are the leading countries in the Global Pressure Relief Valve Market.

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