Rockville , Feb. 06, 2024 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global pressure relief valve market is estimated at US$ 4.7 billion in 2024 and is forecasted to reach US$ 7.39 billion by the end of 2034.
Pressure relief valves play a vital role in ensuring the safety and efficiency of various industries by preventing overpressure incidents in equipment and systems. These valves are indispensable components in sectors such as oil and gas, manufacturing, petrochemicals, and power generation.
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The global market is witnessing a transformative shift with the integration of digital technologies. Smart pressure relief valves, equipped with sensors and connectivity features, enable real-time monitoring, predictive maintenance, and enhanced control. This trend aligns with the broader Industry 4.0 principles, offering improved efficiency and safety.
Increasing emphasis on sustainability is also influencing the development of pressure relief valves with eco-friendly materials and energy-efficient designs. Manufacturers are aligning their product offerings with environmental standards, reflecting a growing awareness of the ecological impact of industrial processes.
| Report Attribute | Details |
| Value Projection (2034) | US$ 7.39 Billion |
| Growth Rate (2024-2034) | 4.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- Global demand for pressure relief valves is predicted to rise at a CAGR of 4.6% from 2024 to 2034.
- The United States market is projected to reach US$ 1.28 billion by 2034-end.
- Demand for pressure relief valves in Japan is forecasted to rise at a CAGR of 5.1% through 2034.
- Spring-loaded pressure relief valve sales are forecasted to reach US$ 2.85 billion by 2034.
“Expansion of industrial activities in sectors such as manufacturing, energy, and construction is fueling the demand for pressure relief valves to maintain safety in high-pressure systems,” says a Fact.MR analyst.
Winning Strategy
Some of the leading manufacturers of pressure relief valves are:-
- Emerson Electric Co.
- Baker Hughes
- Rexnord Corporation
- Parker Hannifin Corp.
- Watts
- ALFA Laval AB
- CIRCOR International, Inc.
- IMI Plc.
- Mercer Valve Co., Inc.
- Curtiss-Wright Corporation
- The Weir Group Plc.
These industry giants are characterized by a strong global presence, diverse product portfolios, and a focus on innovation to maintain a competitive edge.
The market is witnessing consolidation through mergers and acquisitions, with key market players acquiring niche companies and start-ups to broaden their product offerings and strengthen their market presence.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global pressure relief valve market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights on the market based on product type (spring-loaded pressure relief valves, pilot-operated pressure relief valves, dead weight pressure relief valves, P&T actuated pressure relief valves), set pressure (low, medium, high), and end-use industry (oil & gas, chemical processing, power generation, paper & pulp, food & beverages, pharmaceuticals, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact.MR Research:
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Industrial Valves Market: The global industrial valves market is projected to witness sluggish growth at 3.3% and slated to create an absolute $ opportunity of more than US$ 22.3 billion. It is projected to be valued at more than US$ 79.4 billion by the end of the forecast period (2020 – 2030)
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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