Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global Pressure Relief Valves Market size is expected to reach $5.5 billion by 2028, rising at a market growth of 4.8% CAGR during the forecast period.
The High segment is showcasing a CAGR of 5.2% during (2022 - 2028). This is because a high-pressure relief valve is important for various vessels and piping systems. High-pressure relief valves are used in pneumatic, electronic, and hydraulic systems to ensure safety and protection. High pressure relief valves are amongst the most reliable types of overpressure protection and present numerous benefits. Also, the high-pressure relief valves act as alarms in an overpressure event. The benefits associated with the high-pressure relief valves are expected to boost the segment’s growth.
The Power Generation segment acquired maximum revenue share in the Global Pressure Relief Valves Market by End User in 2021 thereby, achieving a market value of $1.5 billion by 2028. This is because of their usage to ensure safety in critical operations. They are utilized for initiating and stopping the flow of the media, controlling & regulating flow, reducing or increasing flow, and relieving a pipe system from a particular pressure or pressure processing. Increasing investment in power plants is anticipated to increase the usage of pressure relief valves and thereby drive the segment’s growth.
The Pilot Operated segment has shown the growth rate of 5% during (2022 - 2028). The growth is due to the ability of these valves to connect with various accessories. It has a better pressure and size capability than other valves. Also, they can be directly related to the vessel by utilizing a remote or static sensing line. The pilot controls the primary valve and allows it to keep its open position, whatever the pressure drop at the inlet. The ability to connect with accessories and better size and pressure capability is expected to propel the segment’s expansion.
The Asia Pacific market dominated the Global Pressure Relief Valves Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2 billion by 2028. The Europe market is exhibiting a CAGR of 4.3% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 4.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/pressure-relief-valves-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of General Electric Company, Emerson Electric Co., The Weir Group PLC, Curtis-Wright Corporation, IMI PLC, Watts Water Technologies, Inc., Alfa Laval AB, AGF Manufacturing, Inc., Mercury Manufacturing Company Ltd., and Goetze KG Armaturen.
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Unique Offerings from KBV Research
North America Pressure Relief Valves Market Future Scope & Opportunities 2022-2028
Europe Pressure Relief Valves Market Size & Growth Forecast 2022-2028
Asia Pacific Pressure Relief Valves Market Size, Share & Industry Outlook to 2028
LAMEA Pressure Relief Valves Market Growth, Trends & Forecasts 2022-2028