New York, USA, August 9, 2021 (GLOBE NEWSWIRE) – Market overview: According to a comprehensive research report by Market Research Future (MRFR), “Global Safety Valve Market Information by Material, Size, End Use, and Region-Expected In 2027″, by 2025, the market is expected to reach 5.12 billion U.S. dollars, with a compound annual growth rate of 5.02%.
Safety valve market scope: Safety valve, simply put, is a preventive and preventive valve that automatically starts when the temperature and the preset pressure of the safety valve are exceeded. These valves protect critical equipment from damage by releasing excess pressure without any electrical support. In addition to protecting equipment, safety valves are also essential for protecting employees around the factory and the surrounding environment. The safety valve is made of different materials such as low temperature, cast iron, alloy, steel, etc., and is widely used in water and wastewater treatment, food and beverage, chemical industry, energy and power, oil and natural gas, etc.
Market drivers: attractive features that stimulate market growth According to the MRFR report, there are many factors that are driving the growth of the global safety valve market share. Some of them require the growing demand for safety valves in the oil and gas industry, the growth of nuclear power generation, the integration of safety valves and the Internet of Things, the growing demand for oil and gas, the relevant development of the market, the growth of downstream construction, midstream and Upstream infrastructure, and the growing construction industry. Other factors that increase market growth include growing nuclear power generation, the constant need to replace safety valves, the use of 3D printers on production lines, the booming oil and gas industry, technological advancements, and the increasing demand for clean fuels.
On the contrary, high manufacturing costs combined with low profit margins may hinder the growth of the global safety valve market during the forecast period.
Browse the in-depth market research report (111 pages) on the safety valve market: https://www.marketresearchfuture.com/reports/safety-valve-market-7790
Market segmentation covered in the study: The MRFR report focuses on an inclusive analysis of the global pressure safety valve market based on end use, size and material.
According to materials, the global safety valve market is divided into low temperature, cast iron, alloy, steel, etc. Among them, the steel sector will lead the market during the forecast period because these valves are durable and will not leak in cold or hot temperatures.
Divided by size, the global safety valve market is divided into 20” and above, 11 to 20”, 1 to 10” and below 1”. Among them, the 1 to 10 inch market segment will dominate the market during the forecast period, because safety valves in this size range are used to control the pressure and flow of mud, gas, and liquid in different end-use industries. In terms of end use, the global safety valve market is segmented into water and wastewater treatment, food and beverage, chemicals, energy and power, oil and gas, etc. Among them, the oil and gas sector will lead the market during the forecast period because the oil and gas industry is one of the most important income-generating industries and almost requires various forms of valves, such as butterfly valves, ball valves, check valves, globe valves and gate valves.
Regional analysis The Asia-Pacific region will maintain a dominant position in the safety valve market. Geographically, the global safety valve market is divided into Europe, North America, South America, Asia Pacific, and the Middle East and Africa (MEA). Among them, the Asia-Pacific region will maintain its dominant market position during the forecast period. Continuous development of industrialization, rapid urbanization, structural and regulatory changes need to make infrastructure more competitive with private investors, establish public-private partnerships to control the flow of liquids in pipeline systems, fire protection systems, and water supply systems, and increase buildings Industry, the opportunities of many safety valve industry market participants, population growth, and the existence of developing economies such as India and China are driving the growth of the global safety valve market in this region. In addition, the rapid development of the region, the increasing demand in various industries such as oil and gas, pharmaceuticals, chemicals, construction, water and sewage treatment, energy and power, the development of infrastructure, the increase in investment in various industries, and the application of safety valves Increase, also increase market growth.
The North American safety valve market is expected to grow in North America, and the global safety valve market is expected to have considerable growth during the forecast period. Investment in the construction industry continues to increase, the construction industry in the United States is booming, safety valves in the construction industry are widely installed, industrialization is developing rapidly, high-end technologies are rapidly applied, the oil and gas industry is booming, and the rapid establishment of multiple market players is increasing to the global safety valve market in this region growth of.
The European safety valve market will have admirable growth in Europe, and the global safety valve market is expected to have admirable growth during the forecast period. Germany has the largest market share in the growth of renewable power generation. In MEA and South America, the global safety valve market will have good growth during the forecast period.
The impact of COVID-19 on the global safety valve market Unfortunately, the global safety valve market bears the brunt of the ongoing COVID-19 crisis. This is due to supply chain disruptions, fluctuations in demand share, the economic consequences of the outbreak, and the current and future impact of the global crisis due to social distancing trends and government blockades on a global scale. The negative growth of the market. However, with the relaxation of blockades in certain areas, the market may soon return to normal.
About Market Research Future: Market Research Future (MRFR) is a global market research company, proud of its services, providing complete and accurate analysis of different markets and consumers around the world. The outstanding goal of Market Research Future is to provide customers with the best quality research and meticulous research. We conduct market research on global, regional and national market segments by products, services, technologies, applications, end users and market participants, so that our customers can see more, learn more, and do more. Help answer your most important questions.
Post time: Dec-01-2021
