Global Pressure Relief Valves Market to Reach $4.6 Billion by 2027
Amid the COVID-19 crisis, the global market for Pressure Relief Valves estimated at US$3.6 Billion in the year 2020, is projected to reach a revised size of US$4.6 Billion by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027.
Spring Loaded, one of the segments analyzed in the report, is projected to record a 3.3% CAGR and reach US$2.1 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pilot Operated segment is readjusted to a revised 3.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $673.3 Million, While China is Forecast to Grow at 4.6% CAGR
The Pressure Relief Valves market in the U.S. is estimated at US$673.3 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$766.1 Million by the year 2027 trailing a CAGR of 4.6% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 2.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.
Pressure & Temperature Actuated Segment to Record 3.9% CAGR
In the global Pressure & Temperature Actuated segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$317.9 Million in the year 2020 will reach a projected size of US$406 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$731.7 Million by the year 2027, while Latin America will expand at a 4.4% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
COVID-19 Outbreak Poised to Dent Market Prospects in the Immediate Term
Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Discourage the Pressure Relief Valves Market in Short Term
As One of the Most Closely Watched Economic Indicators, the PMI Growth Movement Keeps the Industry on the Edge With Anxious Anticipation
Established Use Case Across Diverse Sectors to Renew Market Demand in Post COVID-19 Period
An Introduction to Pressure Relief Valve
Evolution of PRVs
Key Components of Pressure Relief Valve
Parameters to Consider for Selecting PRVs
Identifying Failure of Pressure Relief Valves
Select Technical Terms Associated with PRV Operation
Standards and Codes for Pressure Relief Valves
Pressure Relief Valves (PRV) vs. Pressure Safety Valves (PSV)
Product Types of Pressure Relief Valves
PRV Types by Set Pressure
Key End-Uses of PRVs
Pressure Relief Valves: Global Market Overview and Outlook
Spring Loaded PRVs: Largest Product Segment
Recent Market Activity
Select Global Brands
2. FOCUS ON SELECT PLAYERS (Total 82 Featured)
Alfa Laval AB
Baker Hughes Company
Emerson Electric Co.
Flow Safe, Inc.
Goetze KG Armaturen
LESER GmbH and Co. KG.
The Weir Group PLC
3. MARKET TRENDS & DRIVERS
Thrust Towards Digitalization and Automation across Industries Augurs Well for Long-Term Growth
Rise of Industry 4.0 & Smart Factory Mandates Technology Adjustments to Pressure Relief Valve Technology
IIoT to Stir Adoption of Pressure Relief Valve Digitalization
Despite the Current Depressive Scenario, Oil & Gas Sector to Remain Dominant End-Use Sector
Relevance in Power Industry
Sustained Opportunities in Nuclear Power Sector
Widespread Use in Chemicals Industry
Water & Wastewater Industry: Infrastructure Development Drives Demand
Pulp & Paper Industry: Unique Needs of Mills Set Demand Trends
Urban Sprawl Extends Broad-based Opportunities
Smart City, the New Urban Infrastructure Concept, to Fuel Fresh Wave of Growth