Pressure Relief Valves Market Size & Growth Analysis to 2030

The global pressure relief valves market size is accounted to register a significant CAGR of over 3% during the forecast period 2021 to 2027. The growing chemical and oil & gas industry around the world is a primary factor to drive the market growth. Furthermore, the rapid growth in digitalization and industrial automation is further anticipated to boost the market growth. The rise in industry 4.o and smart factory and widespread use in various end-use industries such as chemical, water & wastewater, and power industry is anticipated to fuel the market growth over the forecast period.

Market Drivers:

Safety Regulations and Standards: The implementation of stringent safety regulations and standards in various industries is a major driving factor for the pressure relief valves market. Pressure relief valves are essential components for protecting equipment, pipelines, and systems from excessive pressure and preventing catastrophic failures. Industries such as oil and gas, chemical, pharmaceutical, and power generation are required to comply with safety standards, which drives the demand for pressure relief valves.

Growing Focus on Process Efficiency: Industries across the globe are increasingly focusing on process optimization and efficiency. Pressure relief valves help maintain optimal pressure levels within systems, preventing overpressure situations and ensuring efficient operations. By automatically relieving excess pressure, these valves enable uninterrupted production, reduce energy consumption, and minimize downtime, thus driving their adoption.

Increasing Industrialization and Infrastructure Development: The ongoing industrialization and infrastructure development projects worldwide are driving the demand for pressure relief valves. Industries such as oil and gas, petrochemical, chemical, power generation, and water treatment require pressure relief valves to protect their equipment and infrastructure from overpressure situations. The expansion of these industries contributes to the growth of the pressure relief valves market.

Growing Demand for Energy: The rising global energy demand, including traditional and renewable energy sources, fuels the need for pressure relief valves. Power plants, refineries, and pipelines require reliable pressure relief systems to safeguard equipment and personnel. Additionally, the growing deployment of renewable energy systems, such as solar and wind farms, requires pressure relief valves to maintain safe and efficient operations.

Focus on Environmental Sustainability: Environmental concerns have become crucial drivers for the pressure relief valves market. The prevention of environmental damage caused by leaks, spills, or releases of hazardous materials is of paramount importance. Pressure relief valves play a vital role in preventing overpressure situations that could result in environmental disasters. Compliance with environmental regulations and the protection of the environment drive the demand for pressure relief valves.

Technological Advancements: Ongoing advancements in pressure relief valve technology contribute to market growth. Manufacturers are developing innovative valve designs, materials, and technologies to enhance the efficiency, accuracy, and reliability of pressure relief valves. Features such as improved sealing, remote monitoring capabilities, and smart functionality are becoming more prevalent, driving the adoption of advanced pressure relief valves.

Increasing Focus on Plant Safety and Risk Management: Ensuring plant safety and risk management is a priority for industries dealing with hazardous materials and processes. Pressure relief valves are critical components for preventing overpressure-related accidents, minimizing the risk of explosions, fires, and equipment damage. The growing emphasis on plant safety and risk mitigation measures drives the demand for pressure relief valves.

Maintenance and Replacement Demand: Pressure relief valves require periodic maintenance, inspection, and replacement to ensure their proper functioning. Aging infrastructure, along with maintenance and replacement cycles, contributes to the demand for pressure relief valves. Industries invest in new valves or replacement valves to maintain the safety and reliability of their operations.

Market Snapshot:

Market Insights:

The global pressure relief valves market is bifurcated into product type, set pressure, end-user, and geography. On the basis of product type, the market is further segmented into spring-loaded, pilot operated, dead weight, and P&T actuated. The spring-loaded segment dominated the global market in 2020 and is estimated to hold the largest market share of around half of the market by the end of the analysis period. These valves are widely used because of their wide range of applications and technical advantages over other valves.

On the basis of set pressure, the market is segmented into low pressure, medium pressure, and high pressure. The medium pressure segment dominated the global pressure relief valves market in 2020 and accounted to hold the largest revenue share of around half of the market. The wide use of medium pressure valves in various end-use industries is a prominent factor to drive the segment growth. Furthermore, the increasing demand for the product in various end-use industries such as chemicals and oil & gas is further anticipated to boost the segment growth over the forecast period.

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By end-user, the global pressure relief valves market is bifurcated into oil & gas, chemical processing, power generation, and others. The oil and gas industry held the largest revenue share of over one-fourth percent of the market and estimated to maintain its dominance over the forecast period. The increasing consumption of oil and gas pipes around the world is a major factor to drive the segment growth. Furthermore, the continuous expansion of the oil and gas industry to fulfill the growing demand and supply is anticipated to boost the segment growth.

The pressure relief valves comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The pressure relief valves market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Product Type:

• Spring Loaded
• Pilot Operated
• Dead Weight
• P&T Actuated

By Set Pressure:

• Low Pressure
• Medium Pressure
• High Pressure

By End-User:

• Oil & Gas
• Chemical Processing
• Power Generation
• Paper & Pulp
• Food & Beverages
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, the pressure relief valves market report comprises dedicated sections centering on the regional market revenue and trends. The pressure relief valves market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The pressure relief valves market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Pressure relief valves market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Competitive Assessment

Some of the major market players operating in the global pressure relief valves market are Emerson Electric Co., Watts, Parker Hannifin Corp., Rexnord Corporation, and Baker Hughes Company. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Emerson Electric Co.
• Watts
• Parker Hannifin Corp.
• Rexnord Corporation
• Baker Hughes Company
• The Weir Group plc
• Curtiss-Wright Corporation
• CIRCOR International, Inc.
• ALFA Laval AB
• IMI plc

Key Questions Answered by Pressure Relief Valves Market Report

• Global pressure relief valves market forecasts from 2021-2027
• Regional pressure relief valves market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Pressure relief valves submarket forecasts from 2021-2027 covering the market by product type, by set pressure, by end-user, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to pressure relief valves market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level pressure relief valves markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the pressure relief valves market