Pressure Relief Valve Market

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

Pressure Relief Valve Market Segmented By Spring Loaded, Pilot Operated, Dead Weight, P&T Actuated Product Type with Low Pressure, Medium Pressure, High Pressure Set in Chemical Processing, Power Generation, Paper and Pulp, Food and Beverages, Pharmaceuticals Industry

Market Snapshot

Newly released data on global pressure relief valves industry analysis by Persistence Market Research shows that demand recorded a year-on-year (YoY) growth of 3.2% in 2021 to reach sales of 16.7 Mn units. Demand from the chemical processing industry grew by 4% to register sales of 3.4 Mn units in 2021, while that from power generation was up by 4.5% to record sales of 2.5 Mn units.

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Companies

  • Emerson Electric Co.
  • Parker Hannifin Corp
  • Watts
  • Baker Hughes Company
  • Rexnord Corporation ( ZurnTrchnologies)
  • 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
  • Yuanda Valve Group Co., Ltd

Key Points Covered in Pressure Relief Valves Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Pressure Relief Valves and How to Navigate
  • Recommendation on Key Winning Strategies

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Demand Analysis of Pressure Relief Valves from 2016 to 2020 Vs Market Outlook for 2021 to 2031

As per Persistence Market Research pressure relief valves industry research, historically, from 2016 to 2020, use of pressure relief valves increased at around 3.2% CAGR, wherein, countries such as the U.S., Japan, Germany, China, and the U.K. held significant share in the global market.

On a global scale,cost of valveshas been increased in the past few years, which can be attributed to rising tariffsin the North American region,especially in theU.S.Leading player’s form Europe & American region have their facilities both, in developing as well as low cost countries.

Activities such as design, R&D, and testing take place in the United States/Europe, whereas, labor-intensive production procedures such as the manufacture of rough castings for valves and valve components take place in low-cost manufacturing regions such as China. This enables OEMs to maintain quality coupled with advantage of low pricing.

However rising tariffs by the U.S. government on steel and aluminum from China has significantly impacted the profit margins and costing of pressure relief valve suppliers.

Increasing industrialization and regulation for industrial applications will have a positive impact on demand for pressure relief valves in the assessment period and the market is anticipated to grow with around 4.5% CAGR.

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What are the Key Opportunities Awaiting Pressure Relief Valve Manufacturers?

Rise in the consumption of oil and gas pipe has been witnessed in developed and developing regions. Thus, industries are focusing on expanding their production facilities through onshore and offshore exploration of oil & gas to cater to the increasing demand and supply of the same and since oil & gas sector is one of the prominent end use for the global pressure relief valves market, therefore lucrative opportunity is anticipated to generate by the oil & gas sector.

Additionally, growing regulations for use of pressure relief valves in power generation are further set to create opportunities for market players. For instance, there are around 50 nuclear reactors under construction, and pressure relief valves play an important role in the successful and safe operations of nuclear plants by protecting turbines, super heaters, and boilers to help the stations run at predefined pressures

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What Restraints Do Pressure Relief Valve Suppliers Face?

The volatile and unstable markets in Asia Pacific will have direct and widespread implications on manufacturing companies. Rising cost of raw materials and tariff used for manufacturing valves will directly affect the operational cost of manufacturing processes, which is the primary concern of manufacturers.

Rising raw material prices directly destabilize the supply chain and a product’s selling price. Constant and unpredictable rise in the prices of raw materials of pressure relief valves is a growing concern amongst manufacturers in the Asia Pacific region. This, in turn, is anticipated to hinder the growth of pressure relief valves market

Why is Demand for High Performance Presser Relief Valves Surging?

Growing number of accidental incidences (overpressure) in industries has increased spending by industry professional on enhancing safety in day to day industry operation. This trend has also caused regulating bodies to form numerous regulations to improve operational safety.

Since the primary purpose of a pressure relief valve is protection of life and property by venting fluid from an over pressurized vessel, it has resulted in increased demand for high performance pressure relief safety valves. These valves offer features that exceed the performance of standard valves in the market.

Many leading players are offering these kinds of valves; Emerson Electric, Lesser, and others have these high performance valves in their portfolios.

Which Region Offers the Largest Opportunity for Sales of Pressure Relief Valves?

With an absolute dollar opportunity of around US$ 590 Mn, North America is expected to be the most lucrative market for pressure relief valve suppliers. The U.S is leading the North American market, and is expected to witness a 1.5 X growth during 2021-2031.

With increased industrialization and improvement in urban waste water management systems, pressure relief valves have gained significant sales in recent times.

Besides, according to data from trade map and OIC, the U.S. is the largest importer and 2nd largest exporter of safety and relief valves, with an export value of US$ 826 Mn and import value of US$ 629 Mn.

pressure-relief-valves-market

Country-wise Analysis

What is the Growth Scenario of India in the Global Market for Pressure Relief Valves?

The South Asian market is anticipated to observe significant growth over the assessment period, with India leading the market at a CAGR of around 6%.

India’s low production and labour cost and lenient regulations are encouraging various end-use vertical players, including oil & gas, pharmaceuticals, chemicals, and textiles to expand their manufacturing facilities in the country, which, in turn, is expected to drive demand for pressure relief valves.

Will Japan Be a Lucrative Market for Pressure Relief Valve Manufacturers?

In 2020, Japan accounted for over 33%& share of the East Asian market for pressure relief valves. High presence of tier-II players has contributed to the growth of the pressure relief valves industry in the country.

Japan has a prominent share in the export market, followed by Switzerland, with an export value of US$ 328 Mn, but had a low import value of US$ 130 Mn in 2019.

Category-wise Insights

Why are Spring Loaded Pressure Relief Valves the Most Used?

Spring loaded pressure relief valves will account for over 40% value share in the global market by the end of assessment period. These valves are extensively used due to their wide range of application and technical advantage over other valves.

Many Codes and Standards are published throughout the world that address the design and application of pressure relief valves. Most common among them is the ASME (American society for Mechanical Engineers) Boiler and Pressure Vessel Code or ASME code. However, this code differs from region to region.

Which Pressure Range of Pressure Relief Valves Generates Most Revenue?

By set pressure, medium pressure relief valves accounted for around 50% demand in 2020.

Pressure relief valves with medium pressure range are widely used in various end-use industries, and this trend is anticipated to continue by the end of forecast period. With growing end-use industries such as oil & gas, chemicals, and others, demand for medium pressure relief valves is set to grow steadily.

Which End User Holds Lucrative Avenues for Pressure Relief Valve Producers?

The oil & gas sector accounted for more than 26% value share in 2020. Rise and expansion of this sector across the globe has led to high demand for pressure relief valves.

Other than oil & gas, chemicals and waste water management are experiencing significant development and growing emphasis on environmental sustainability, particularly in the Asia Pacific region. New oil & gas and petrochemical developments will make South Asia, Russia, and South America emerging markets for pressure relief valves over the coming years.

Pressure Relief Valves Market Insights on Competitive Landscape

Majority of companies discussed in the report have focused on product launches merger and acquisitions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.

Some of the key developments are:

  • In 2020, Pressure relief valve manufacturer Curtiss-Wright Corp. acquired Dyna-Flo Control Valve Services Ltd.(Supplier of Control Valves, Actuators and Pressure Control Systems to the Process Control Industry) for CAD$81 million (US$62 million).
  • In 2020, Baker Hughes consolidated pressure relief valves announced launch of 2900 Series Generation II Pilot-Operated Pressure Relief Valve (PRV). This solution enables customers to replace existing oversized or misapplied API 526 Direct-Spring PRVs with the integrally sensed Consolidated 2900 Series Pilot Valve.
  • In May 2017, Baker Hughes, a GE company and Saudi Aramco signed a MOU to deliver a series of projects related to localizing of oil field goods and services and also to promote bilateral trade and investment between Saudi Arabia and the U.S.

Similarly, recent developments related to companies manufacturing pressure relief valves have been tracked by the team at Persistence Market Research, which are available in the full report.

Pressure Relief Valves Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • BENELUX
  • South Africa
  • GCC Countries
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Oceania

Key Market Segments Covered

  • Product Type
  • Set Pressure
  • End Use
  • Sales Channel
  • Region

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.

Pricing

Available upon Request

Key Market Segments Covered

By Product Type

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

By Set Pressure

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

By End User

  • 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

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  • Is the market research conducted by Persistence Market Research?

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  • What research methodology is followed by Persistence Market Research?

    Persistence Market Research follows a methodology that encompasses the demand-side assessment, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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  • What are the sources of secondary research?

    Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

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Media Release

- FAQs -

The global pressure relief valves market is currently valued at close to US$ 4.2 Bn.
Demand for pressure relief valves is slated to expand at 4.5% CAGR to reach a market valuation of US$ 6.5 Bn by 2031.
The market for pressure relief valves expanded at 2.9%CAGR from 2016 to 2020.
Rising adoption of smart-operated valves and omni-channel sales are key trends being observed in the market.
Rising need to replace ageing units and establish new industrial facilities will generate continued demand for pressure relief valves.
Top 5 players are Emerson Electric, IMI plc, Leser GmbH & Co. KG, Baker Hughes, and Weir Group, who together account for over 20% market share.
The U.S., Germany, Japan, India, and ASEAN countries are driving most demand for pressure relief valves.
The market for pressure relief valves in Germany is projected to expand at over 5% CAGR through 2031.
The U.S., Germany, Japan, China, and India are key pressure relief valve producing countries.
The global pressure relief valves market is currently valued at close to US$ 4.2 Bn.
Demand for pressure relief valves is slated to expand at 4.5% CAGR to reach a market valuation of US$ 6.5 Bn by 2031.
The market for pressure relief valves expanded at 2.9%CAGR from 2016 to 2020.
Rising adoption of smart-operated valves and omni-channel sales are key trends being observed in the market.
Rising need to replace ageing units and establish new industrial facilities will generate continued demand for pressure relief valves.
Top 5 players are Emerson Electric, IMI plc, Leser GmbH & Co. KG, Baker Hughes, and Weir Group, who together account for over 20% market share.
The U.S., Germany, Japan, India, and ASEAN countries are driving most demand for pressure relief valves.
The market for pressure relief valves in Germany is projected to expand at over 5% CAGR through 2031.
The U.S., Germany, Japan, China, and India are key pressure relief valve producing countries.

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