DUBLIN, July 27, 2021 /PRNewswire/ -- The "Pressure Relief Valves - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
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
- Apollo Valves
- Baker Hughes Company
- Curtiss-Wright Corporation
- Emerson Electric Co.
- Flow Safe, Inc.
- Forbes Marshall
- Goetze KG Armaturen
- IMI plc
- LESER GmbH and Co. KG.
- Pentair plc
- The Weir Group PLC
- Velan, Inc.
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
- Technology Innovations & Advancements
- Technology Improvements Augment Product Design & Efficiency
- Cartridge Valves: A Key Development in Pressure Relief Valve Segment
- Regulations, Codes and Standards
- Issues & Challenges
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- United States: Major Market for Pressure Relief Valve
- Investments in Pipeline Infrastructure Development to Rev Up Long Term Demand
- Market Overview
- Pipeline Programs Favor Growth
- China: Major Consumer of Pressure Relief Valves
- Oil & Gas Sector to Emerge as New Growth Vertical
- Competitive Scenario in the Chinese Industrial valves Market
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
- Opportunities in the Oil & Gas Sector
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
- South Africa: A Prominent Consumer of Pressure Relief Valves
- Total Companies Profiled: 82
For more information about this report visit https://www.researchandmarkets.com/r/pwbl8m
Research and Markets
Laura Wood, Senior Manager
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