What is Safety Valves Market?
Safety Valve is defined as the valve which opens automatically in order to relieve excessive pressure. It is used when pressure and temperature exceed preset limits. The main function of the safety valve is the protection of equipment from exploding and damaging. Increasing usage of Safety Valve in various industries such as oil & gas, energy & power, water & wastewater, chemicals, pharmaceuticals, among others is some of the major factors which affect the growth of the market in future.
The market study is being classified and major geographies with country level break-up.
Emerson Electric Co. (United States), LESER (Germany), Cameron–Schlumberger Ltd. (United States), IMI Plc. (Finland), Weir Group Plc (United Kingdom), Baker Hughes (United States), Bosch Rexroth (Germany), Forbes Marshall (India), Curtiss-Wright Corporation (United States) and Alfa Laval (United States are some of the key players profiled in the study.
Manufacturers of Safety Valve, Suppliers of Safety Valve, Wholesalers, Distributors, and Retailers of Safety Valve, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Safety Valves market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Safety Valves market by Type, Application and Region.
On the basis of geography, the market of Safety Valves has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Importance of Safety Valves in Industrial Processes and Rising Demand from Oil & Gas Industry
- Rapid Growth in Nuclear Energy Generation
Restraints
- Problem related to Decline in Oil and Gas Extraction
Opportunities
- Growing Demand for Safety Valve Replacement and Increasing Usage of 3D Printers in Manufacturing Lines
- Rising Demand from Emerging Economic such as China, India, Brazil, Indonesia, among others
Challenges
- Issue related to High Cost of Fabrication
Market Leaders and some development strategies
In November 2018, the Baker Hughes company has expanded a new steam test facility in Italy. In addition, it provides better serve the European aftermarket with rapid response ASME Section I safety valves for various steam applications. Hence, this expansion will affect the growth of the market
In October 2018, the Alfa Laval AB (Sweden ) Company has launched an aseptic double-seat valve to its range of Alfa Laval Mixproof valves. In addition, it also provides full protection against the intrusion of harmful. Hence, it will affect the growth of the market in the future.