NEW YORK, May 21, 2019 /PRNewswire/ -- Persistence Market Research's new market research report titled, 'Buckling Pin Relief Valves Market: Global Industry Analysis 2013–2017 and Market Forecast 2018–2028', investigates the buckling pin relief valves market, and provides critical insights for the forecast period 2018 to 2028. As per key insights of the research, the global buckling pin relief valves market is estimated to project sustained growth during the forecast period, owing to factors such as no yearly replacement requirement, low operation costs, and significant capital and maintenance savings.
The global buckling pin relief valves market recorded the revenues worth US$ 273 Mn in the year 2017, which is likely to observe a CAGR of 2.8% during 2018 to 2028.
A buckling pin relief valve is a special-purpose relief valve used for protection against overpressure for safety-critical applications, particularly in the oil and gas industry. Surging investments in the upstream and downstream sectors across the Middle East and Africa and Asia Pacific regions are expected to fuel the growth of the oil and gas industry across these regions. This explains the projected growth of the buckling pin relief valves market during the forecast period.
South Asia Expected to Project Significant Growth Opportunities for Global Buckling Pin Relief Valve Market Players
The global buckling pin relief valves market is highly fragmented, with the top 3 players accounting for less than 10% share of the overall market. There are very limited players in the market that have established themselves at global as well as domestic levels. These players are engaged in expanding into high-growth regions such as South Asia, and are also expanding their manufacturing capacities to cater to the increasing demand.
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The Middle East and Africa is expected to dominate the global buckling pin relief valves market throughout the forecast period, owing to the significant presence of oil and gas industries in the region.
Besides the Middle East and Africa, North America and East Asia, which include countries such as the US and China, are also projected to be attractive regions for the global buckling pin relief valves market. Positive outlook for oil & gas and power generation industries in these regions is a key factor driving the growth opportunities in the buckling pin relief valves market during the forecast period.
5-25 Inches Buckling Pin Relief Valves to Remain Dominant, Oil & Gas and Chemicals & Petrochemicals to Remain Prominent End-use Areas
The global buckling pin relief valves market has been segmented on the basis of size, set pressure, and end-use industry, besides the seven regions.
- On the basis of size, 5 inches to 25 inches valves are considered to be the most commonly sold products, accounting for a prominent share in the global buckling pin relief valves market throughout the forecast period. However, in terms of growth rate, the less than 5 inches segment is expected to project significant growth in the coming years in the global buckling pin relief valves market.
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- Based on set pressure, the low pressure buckling pin relief valves segment is estimated to account for nearly two-thirds of the market size by the end of the forecast period, owing to their vast application in oil & gas and energy & power generation industries.
- Buckling pin relief valves find significant application in various end-use industries such as oil and gas, chemicals and petrochemicals, energy & power generation, pulp and paper, and water and wastewater, among others. The oil & gas segment is estimated to be one of the prominent end-use industry segments in the buckling pin relief valves market, and is expected to account for nearly one-half of the total buckling pin relief valves market throughout the forecast period.
- Besides oil & gas, buckling pin relief valves also find important application in the chemical and petrochemicals industry as well as energy & power generation, which is also expected to create significant revenue for the global buckling pin relief valves market. This is driven by the expected positive outlook for the energy and power generation sector, particularly in developing countries, owing to increasing energy consumption.
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Buckling Pin Relief Valves Market: Vendor Insights
The report highlights some of the market players that are prominent and have established themselves as leaders in the global buckling pin relief valves market. Some of the examples of the key players in this market are BS&B Safety Systems, L.L.C., Elfab Limited, Taylor Valve Technology, King's Energy Services Ltd., and Jiangsu Reliable Mechanical Equipment Co., Ltd.
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