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.
pune, India - June 24, 2019 /MarketersMedia/ —
Safety Valve Market synopsis
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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The global safety valve market has been witnessing significant growth across the globel 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.
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 safety valve market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to be the largest market in the forecast period owing to the ongoing development of infrastructure, the rapid industrialization, and growing investments in end-use industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction. The major country-level markets identified to witness high growth in Asia-Pacific are China, Japan, Australia, and India.
Europe is expected to hold the second largest share in the safety valve market during the forecast period owing to the rise in the number of projects undertaken by the oil & gas industry to increase the production capacity of existing reserves.
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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
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
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
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