According to the Market Research Future (MRFR), the global safety valve market is estimated to reach 5.12 billion U.S. dollars, with a compound annual growth rate of 5.02% from 2019 to 2025. The report conducted a rigorous and in-depth analysis of the impact of COVID-19. The global safety valve market is pandemic.
The safety valve is a preventive valve and a preventive valve, which will automatically operate when the pressure and temperature of the safety valve are exceeded. The safety valve releases excessive pressure without any electrical assistance, thereby protecting critical equipment from damage. In addition to the safety of equipment, valves are essential to protect employees and the surrounding environment around the factory.
The driving factors for the growth of the global safety valve market include the increasing demand for safety valves in the oil and gas industry and nuclear power generation. In addition, the introduction of safety valves into the Internet of Things (IoT) environment is expected to create opportunities for global safety valve market participants.
Many important players are making safety valves that are highly competitive and provide higher performance. These participants are actively committed to the development of new products as the main strategy to provide the most suitable safety valve. For example, in October 2018, Emerson Electric developed a low-pressure pilot pressure relief valve (POPRV) to support it by reducing the size of marine LNG transportation users. This can reduce the investment by 25% and protect the end user from excessive pressure, because the reduction in size increases the profit margin of the existing valve by 10.5%.
The major players in the global safety valve market are Emerson Electric Company (USA), Alfa Laval (Sweden), Schlumberger Co., Ltd. (USA), General Electric (USA), Curtis-Wright Company (USA), IMI plc (UK), LESER GmbH & Co. KG (Germany), Bosch Rexroth AG (Germany), Weir Group PLC (Scotland), Forbes Marshall (India), Danfoss (Denmark) and Spirax Sarco Limited (UK).
By region, the global safety valve market has been subdivided into Asia Pacific, North America, Europe, Middle East and Africa, and South America.
Due to rapid urbanization and continuous industrialization, the Asia-Pacific region has the largest safety valve market share.
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Post time: Jan-05-2021
