Pressure Relief Valves Market Increasing at A Phenomenal Pace to Reach USD 4.92 Billion by 2028

Some of key players in Pressure Relief Valves market are Weir Group Plc., Curtiss Wright Corp., IMI Plc., Flow Safe, Inc., Velan Inc., Goetze KG Armaturen, Pentair Ltd., GE Co., LESER GmbH. & Co. KG, Alfa Laval AB, Conbarco Industries, and Watts Water Technologies, Inc. among others.  These players are set to bolster the development of Pressure Relief Valves market.

According to analysts at Zion Market Research, the Pressure Relief Valves market accounted for USD 4.06 Billion in 2020 and is expected to reach USD 4.92 Billion by 2028, growing at a CAGR of more than 2.67% from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Pressure Relief Valves Market By Product Type (Pilot Operated, Spring Loaded, Dead Weight relief valves and Others), By Set Pressure (High, Low and Medium Pressure), By End Use Industry (Food and Beverage, Leather, Pharmaceutical, Oil and Gas, Energy & Power, Textile, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

Reviving oil and gas and chemical industries To Spur Growth

The developing chemical and oil and gas industry and the rapid industrialization in the developing countries are the major factors that are contributing to the pressure relief valves market. The demand for pressure relief valves is expected to increase in the coming years as the companies keep on relocating their manufacturing plants to different geographical regions depending on the supply and the demand. Different developing countries are inclining towards the nuclear power generation; this factor is also driving the pressure relief valves market. The increase in the concerns regarding the health and safety across all the end-use industries is compelling them to replace their conventional systems with the new ones is triggering the pressure relief valves market.

Presence of Big Players in The Region Support North America Dominance

Based on the regions, the market for pressure relief valves is diversified into North America, Western Europe, Eastern Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The factors that attribute the market dominance in the North American region is the significant growth in the number of chemical industries and the expansion in the production of oil and gas. The oil and gas companies in this region are exploring more resources of unconventional energy which include shale gas extraction, thus the demand for pressure relief valves will remain high in the coming years. Western Europe is the global leader in the production of chemical productions, thus anticipating providing vast opportunities for the manufacturers of pressure relief valves. The Asia Pacific region is focusing on improving their domestic chemical production so that they rely less on western imports; hence, improving the demand for the pressure relief valves. Another factor that is driving the market in Asia Pacific region is the developing power generation projects which include the nuclear power plants are driving the pressure relief valve market.

Browse the full “Pressure Relief Valves Market By Product Type(Pilot Operated, Spring Loaded, Dead Weight relief valves and Others), By Set Pressure (High, Low and Medium Pressure), By End Use Industry (Food and Beverage, Leather, Pharmaceutical, Oil and Gas, Energy & Power, Textile, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/pressure-relief-valves-market

The Pressure Relief Valves market is segmented as follows:

By Product Type

• Pilot Operated
• Spring Loaded
• Dead Weight
• Others

By Set Pressure

• Low
• Medium
• High

By End Use Industry

• Textile
• Oil & Gas
• Energy & Power
• Chemical Plants
• Leather
• Food and Beverage
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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