Global Pressure Relief Valves Market Analysis Report 2023: Rise of Industry 4.0 & Smart Factory Mandates Technology Adjustments to Pressure Relief Valve Technology

Sep 04, 2023

DUBLIN, June 20, 2023 /PRNewswire/ -- The "Pressure Relief Valves: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Pressure Relief Valves Market to Reach $6 Billion by 2030The global market for Pressure Relief Valves estimated at US$4.1 Billion in the year 2022, is projected to reach a revised size of US$6 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.

Spring Loaded, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$2.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Pilot Operated segment is readjusted to a revised 5.3% CAGR for the next 8-year period. The U.S. Market is Estimated at $706.9 Million, While China is Forecast to Grow at 5.9% CAGRThe Pressure Relief Valves market in the U.S. is estimated at US$706.9 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 5.9% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2030.Looking Ahead to 2023The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.

Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New for 2023?

Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.

Global competitiveness and key competitor percentage market shares

Market presence across multiple geographies - Strong/Active/Niche/Trivial

Online interactive peer-to-peer collaborative bespoke updates

Access to digital archives and Research Platform

Complimentary updates for one year

Key Topics Covered: MARKET OVERVIEW

Pandemic Impact on Pressure Relief Valves Market

Established Use Case Across Diverse Sectors to Renew Market Demand in Post COVID-19 Period

An Introduction to Pressure Relief Valve

Evolution of PRVs

Key Components of Pressure Relief Valve

Parameters to Consider for Selecting PRVs

Identifying Failure of Pressure Relief Valves

Select Technical Terms Associated with PRV Operation

Standards and Codes for Pressure Relief Valves

Pressure Relief Valves (PRV) vs. Pressure Safety Valves (PSV)

Product Types of Pressure Relief Valves

PRV Types by Set Pressure

Key End-Uses of PRVs

Global Market Overview & Outlook

Spring Loaded PRVs: Largest Product Segment

Percentage Breakdown of Sales for Spring Loaded, Pilot Operated, Pressure & Temperature Actuated, and Dead Weight

Developing Regions to Spearhead Future Growth

Pressure Relief Valves - Global Key Competitors Percentage Market Share in 2022 (E)

Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

World Brands

Recent Market Activity

MARKET TRENDS & DRIVERS

Thrust Towards Digitalization and Automation across Industries Augurs Well for Long-Term Growth

Rise of Industry 4.0 & Smart Factory Mandates Technology Adjustments to Pressure Relief Valve Technology

Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020

IIoT to Stir Adoption of Pressure Relief Valve Digitalization

Oil & Gas Sector to Remain Dominant End-Use Sector for Pressure Relief Valves

Growing Relevance of Pressure Relief Valves in Power Industry

China and India Lead the Global Rise in Demand for Electricity

Sustained Opportunities in Nuclear Power Sector

Operational and Under Construction Nuclear Power Reactors Worldwide by Country

Enhanced Need for Safety in Plants Fuels Widespread Use of Pressure Relief Valves in Chemicals Industry

Water & Wastewater Industry: Focus on Infrastructure Development Drives Demand

Pulp & Paper Industry: Unique Needs of Mills Set Demand Trends

Urban Sprawl Extends Broad-based Opportunities

Smart City, the New Urban Infrastructure Concept, to Fuel Fresh Wave of Growth

Global Market for Smart City Technologies in US$ Million for the Years 2020 and 2027

Technology Innovations & Advancements Bolster Market Prospects

Technology Improvements Augment Product Design & Efficiency

Cartridge Valves: A Key Development in Pressure Relief Valve Segment

Innovative Pressure-Reducing Valves Facilitate in Preventing Leaks

New High-Flow Pressure Relief Valves for Deep Water

Regulations, Codes and Standards

Issues & Challenges

Poor Performance of PRVs: Analyzing the Reasons

FOCUS ON SELECT PLAYERS (Total 173 Featured)

Alfa Laval AB

Apollo Valves

Baker Hughes Company

Curtiss-Wright Corporation

Emerson Electric Co.

Flow Safe, Inc.

Forbes Marshall

Goetze KG Armaturen

IMI plc

LESER GmbH and Co. KG.

Pentair plc

The Weir Group PLC

Trillium Flow Technologies

Velan, Inc.

Watts Water Technologies, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/isgzgs

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