Global Safety Valve Market, By Material (Steel, Alloy, Cast Iron, Cryogenic, Others), Size (Less Than 1”, 1” to 10”, 11” to 20” and 20’ & Above), End-Use (Oil & Gas, Energy & Power, Chemicals, Food & Beverage, Water & Wastewater Treatment, Others) – Industry Trends and Forecast to 2029.
Safety Valve Market Analysis and Size
The importance of safety valves in industrial processes, increased demand from oil and gas, and the growth of nuclear energy generation are some of the key factors driving the safety valves market. Other factors driving market growth include the constant need for safety valve replacement and the use of 3D printers in manufacturing lines.
Data Bridge Market Research analyses that the safety valve market was valued at USD 5.74 billion in 2021 and is expected to reach the value of USD 11.00 billion by 2029, at a CAGR of 8.47% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Safety Valve Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Material (Steel, Alloy, Cast Iron, Cryogenic, Others), Size (Less Than 1”, 1” to 10”, 11” to 20” and 20’ & Above), End-Use (Oil & Gas, Energy & Power, Chemicals, Food & Beverage, Water & Wastewater Treatment, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Emerson Electric Co (U.S.), Schlumberger Limited (U.S.), General Electric (U.S.), Curtiss-wright Corporation (U.S.), ALFA LAVAL (Sweden), IMI plc (U.K.), LESER GmbH & Co. K.G. (Germany), The Weir Group PLC (Scotland), Forbes Marshall (India), Danfoss (Denmark), Bosch Rexroth AG (Germany), Spirax Sarco Limited (U.K.)
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Market Opportunities
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Market Definition
Safety valves, also known as precautionary and preventive valves, operate automatically when the current safety valve pressure and temperature are exceeded. These valves are critical in protecting employees and the environment around the plants.
Global Safety Valve Market Dynamics
Drivers
- Growing need of safety valves in industrial applications
Some of the major and impactful factors driving the growth of the safety valve industry are increased awareness of the importance of safety valves in various industrial processes such as power generation, gas and petroleum, including water and sewage processing, mining, oil processing, food manufacturing, increased demand for the product in the oil & gas industry, growth in nuclear energy generation, and increased use of 3D printers in manufacturing lines.
- Growing industrial accidents is propelling market growth
Rising demand for water and power, pollution control regulations, and rapid growth of process industries are some of the major factors driving the safety valve market. These factors are expected to accelerate the growth of the safety valve industry during the assessment period. The market is expanding due to the increased construction of nuclear power plants. The rise in accidental incidents and soaring demand for safety valves in various industrial sectors are propelling the global market forward.
Opportunity
Integration of safety valves into the Internet of Things (IoT) environment is creating an opportunity to increasing the safety valve market industry. The innovations in safety valve systems are expected to fuel the market's rapid growth.
Restraints
Rising fabrication costs and low profit margins for companies are the major factors acting as restraints, and will further challenge the safety valve market during the forecast period.
This safety valve market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the safety valve market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Safety Valve Market
The global safety valve market suffers as a result of the lockdown. This pandemic had a significant impact on the safety valve market and the entire world. To reduce the spread of the coronavirus, the government has imposed stringent regulations such as lockdowns, social distance, face masks, manufacturing industry shutdowns, and transportation bans. Despite the pandemic being in its early stages, the safety valve market has declined. New technological innovations and growing awareness regarding the benefits of the safety valve market by the key players are increasing the growth of this market.
Global Safety Valve Market Scope
The safety valve market is segmented on the basis of material, size & end use. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material
- Steel
- Alloy
- Cast Iron
- Cryogenic
- Others
Size
- Less Than 1”
- 1” to 10”
- 11” to 20”
- 20’ & Above
End use
- Oil & Gas
- Energy & Power
- Chemicals
- Food & Beverage
- Water & Wastewater Treatment
- Others
Safety Valve Market Regional Analysis/Insights
The safety valve market is analysed and market size insights and trends are provided by country, material, size & end use as referenced above.
The countries covered in the safety valve market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific will dominate the safety valve market due to increased infrastructure development, increased investments in various industries such as the construction industry, oil and gas sector, and drastic urbanisation, to name a few factors.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Safety Valve Market Share Analysis
The safety valve market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to safety valve market.
Some of the major players operating in the safety valve market are:
- Emerson Electric Co (U.S.)
- Schlumberger Limited (U.S.)
- General Electric (U.S.)
- Curtiss-wright Corporation (U.S.)
- ALFA LAVAL (Sweden)
- IMI plc (U.K.)
- LESER GmbH & Co.KG (Germany)
- The Weir Group PLC (Scotland)
- Forbes Marshall (India)
- Danfoss (Denmark)
- Bosch Rexroth AG (Germany)
- Spirax Sarco Limited (U.K.)
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