Global Safety Valves Market Forecast to 2024 - Opportunities in Constant Need for Safety Valve Replacement & Use of 3D Printers in Manufacturing Lines
DUBLIN, May 1, 2019 /PRNewswire/ -- The "Safety Valves Market by Size (Up to 1 inch, 1-6 inch, 6-25 inch, 25-50-inch, 50 inch, and Above), Material (Stainless Steel, Cast Iron, Alloy, Cryogenic), Industry (Oil & Gas, Energy & Power, Water & Wastewater), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The safety valve market was valued at USD 4.29 billion in 2018 and is projected to reach USD 5.54 billion by 2024; it is expected to grow at a CAGR of 4.30% from 2019 to 2024.
A valve is a mechanical device that regulates the flow of liquid or gas in a process stream. A safety valve is a fail-safe valve. For example, pressure relief valve (PRV) is a safety valve that automatically releases a substance from a pressure vessel, boiler, or other systems when the pressure or temperature exceeds the preset limits.
The safety valve market is segmented by material, size, industry, and region. Based on material, the safety valve market is segmented into stainless steel, cast iron, cryogenic, alloy, and others. Safety valves are used in various industries such as oil and gas, energy & power, water & wastewater, chemicals, pharmaceuticals, metal & mining, food & beverage, and others.
The value chain of the safety valve market comprises raw material and component suppliers; original equipment manufacturers (OEM); system integrators; distribution channel; and end users. Among all, raw material and component suppliers and original equipment manufacturers (OEM) are the major contributors to the market value chain.
Importance of safety valves in industrial processes, increased need from oil & gas, growth in nuclear energy generation are among the key driving factors for the safety valve market. The constant need for safety valve replacement, use of 3D printers in manufacturing lines are among the other factors fueling the growth of the safety valve market. However, the high cost of fabrication can hinder the growth of the safety valve market.
Emerson (US), Weir Group (UK), Cameron Schlumberger (US), Curtiss-Wright Corporation (US), and IMI PlC (UK) are among the players operating in the safety valve market. Expansion was the most adopted strategy of the overall growth strategies adopted by the key players operating in the market from 2016 to 2018.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in Safety Valve Market
4.2 Safety Valve Market, By Material
4.3 Safety Valve Market in APAC, By Country and Industry
4.4 Safety Valve Market, By Country (2019)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Importance of Safety Valves in Industrial Processes
5.2.1.2 Increased Need From Oil & Gas
5.2.1.3 Growth in Nuclear Energy Generation
5.2.2 Restraints
5.2.2.1 Decline in Oil and Gas Extraction
5.2.3 Opportunities
5.2.3.1 Constant Need for Safety Valve Replacement
5.2.3.2 Use of 3D Printers in Manufacturing Lines
5.2.4 Challenges
5.2.4.1 High Cost of Fabrication
5.3 Value Chain Analysis
6 Safety Valve Market, By Material
6.1 Introduction
6.2 Steel
6.2.1 Steel to Dominate Safety Valve Market During Forecast Period
6.3 Cast Iron
6.3.1 Cast Iron for Safety Valves Gained Traction in Water & Wastewater Industry and Hydroelectric Power Plants
6.4 Alloy
6.4.1 Alloy-Based Safety Valves Play Significant Role in Overall Safety Valve Market
6.5 Cryogenic
6.5.1 Cryogenic Valves to Grow at Fastest Rate
6.6 Others
6.6.1 Brass
6.6.2 Bronze
6.6.3 Plastic
7 Safety Valves Market, By Size
7.1 Introduction
7.2 Up to 1"
7.2.1 Up to 1" Safety Valves to Witness Significant Growth
7.3 1" to 6"
7.3.1 1" to 6" Safety Valves to Dominate the Market During Forecast Period
7.4 6" to 25"
7.4.1 6" to 25" Safety Valves to Drive the Market for High-Pressure Applications
7.5 25" to 50"
7.5.1 Chemicals, Energy & Power, and Pharmaceutical Plants are Key Industries for 25" to 50" Safety Valves for High Temperature and Pressure Handling Applications
7.6 50" and Larger
7.6.1 50" and Larger Safety Valves to Drive Market for Oil & Gas, Power, and Petrochemicals
8 Safety Valve Market, By Industry
8.1 Introduction
8.2 Oil & Gas
8.2.1 Oil & Gas Industry to Dominate the Safety Valves Market During the Forecast Period
8.3 Energy & Power
8.3.1 Energy & Power Industry to Witness Significant Growth in Safety Valves Market
8.4 Chemicals
8.4.1 APAC Dominates the Safety Valves Market for Chemical Industry
8.5 Water & Wastewater
8.5.1 Water & Wastewater is Expected to Be the Fastest Growing Industry for Safety Valves Market Owing to Modernizing the Aging Water Infrastructure and Increased Investments in Smart Cities
8.6 Building & Construction
8.6.1 Building & Construction Industry is Expected to Witness Significant Growth Owing to Urbanization and Smart Infrastructure
8.7 Pharmaceuticals
8.7.1 APAC to Drive Safety Valves Market for Pharmaceuticals
8.8 Agriculture
8.8.1 Irrigation and Precision Farming are Key Application Areas of Safety Valves for Agriculture Industry
8.9 Metal & Mining
8.9.1 APAC to Drive Safety Valves Market for Metal & Mining
8.10 Paper & Pulp
8.10.1 APAC to Dominate the Safety Valves Market for Paper & Pulp Industry During the Forecast Period
8.11 Food & Beverages
8.11.1 Food & Beverage Industry to Witness Significant Growth in Safety Valves Market
8.12 Others
9 Geographic Analysis
10 Competitive Landscape
10.1 Overview
10.2 Market Rank Analysis
10.3 Competitive Situations and Trends
10.4 Competitive Leadership Mapping
10.5 Product Offering (For All 27 Players)
10.6 Business Strategy Excellence (For All 27 Players)
11 Company Profile
11.1 Key Players
11.1.1 Emerson
11.1.2 Weir Group
11.1.3 Forbes Marshall
11.1.4 Curtiss-Wright Corporation
11.1.5 Schlumberger
11.1.6 Bosch Rexroth
11.1.7 Baker Hughes (A GE Company)
11.1.8 IMI PLC
11.1.9 Alfa Laval
11.1.10 Leser
11.2 Other Ecosystem Players
11.2.1 Frese
11.2.2 ARI-Armaturen
11.2.3 Danfoss
11.2.4 Swagelok
11.2.5 Taylor Valve Technology
11.2.6 SMC Corporation
11.2.7 GEA Group
11.2.8 Aquatrol Valve Company
11.2.9 Parker-Hannifin
11.2.10 VYC Industrial
For more information about this report visit https://www.researchandmarkets.com/r/iq8iis
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