Safety Valves Market

Safety Valves Market Size, Share, Growth (2023-2028)

Safety Valves Market is forecast to succeed in USD 6.30 Billion by 2028, registering a steady growth rate.

Safety Valves Market overview:

Safety valves became an integral part of industrial operation. It is primarily incorporated within the functioning of varied industries to stop the explosion of boilers. Safety valves are often considered to act as a fail-safe. However, such valves release substance automatically from a pressure vessel and boiler when the temperature or pressure exceeds the preset limits. Such USPs are majorly driving the worldwide safety valves market.The global safety valves market is witnessing moderate growth and market expansion over the previous couple of years. One of the mentionable factors promoting the expansion of the market is the rise in demand for oil and gas and therefore, the associated development of the market. Within the oil and gas industry, recent discoveries like shale gas found in North America, have a positive impact on the expansion of the security valves industry. A prominent example of a safety valve is a pressure relief valve which is primarily used to control the pressure within a system at the time of process upset or breakdown. Drastic expansion of the transportation sector is leading to increased energy consumption, which successively drives the development of the global security valves market.

Recent Developments:

• Bosch Rexroth provides the most critical range of on/off, logic, safety, and pressure other hydraulic valves – more comprehensive than any competitor's – for all kinds of applications. From isolator and pressure valves to flow control and directional cartridge valves, you'll find precisely what you would like to realize an optimal solution. 

• ZEDOX®, a high-performance valve, known for its eccentric, metallic sealing has been introduced by ARI-Armaturen in the market lately. Double eccentric valve has reliable tightness even under challenging service conditions

• Baker Hughes celebrated the opening of a replacement steam test facility in Naples, Italy created to raised serve the ECU aftermarket with rapid response ASME Section I safety valves for steam applications. This new plant is an extension on the present aftermarket center that expands the merchandise scope and capacity to include the complete range of Masoneilan control valves and Consolidated safety valves, up to 2000 psi test pressure

• Baker Hughes announced the release of its DeepShield deepwater safety valve, which is the first V1-validated subsurface safety valve of the company that is tested to ensure fail-safe operations as defined in the new API Spec 14A. The DeepShield valve is designed in such a way to close in case the good control is lost when in the presence of debris buildup, establishing a reliable safety barrier to reduce the likelihood of escaping reservoir fluids in the wellbore and resulting health, safety, and environmental impacts.

Safety Valves Market Drivers and Restraints:

The primary factor influencing the expansion of the global safety valve market is rapidly rising the oil and gas sector within the developing economies. Aside from this, the rapid climb within the pharmaceuticals, paper and pulp, chemical processing, and power generation industry also are contributing to the expansion of the worldwide market. The rising number of accidental incidences in various sectors and soaring demand for relief valves in several industrial operations also are providing impetus to the expansion of the global safety valve market.Moreover, various regulatory bodies' initiatives in forming several regulations for improving operational safety and massive demand for top performance pressure relief valves also are propelling expansion within the global safety valve business.The inert growth in oil & gas exploration is projected to stall the overall market growth in the coming years

Safety Valves Market Segmentation

By Type:

• Steel

• Cast Iron

• Alloy

• Cryogenic

• Others

Among these, the steel safety valve accounts for the top share within the global safety valves market and is predicted to spice up the worldwide demand during the forecast period. This is often due to the soaring demand for an efficient and high-quality valve to mitigate the contamination threat in several critical processes like steam and water handling, chemical industries, and food and beverages. Such advantages are fueling growth within the global safety valves market

By Size:

• Up to 1"

• 1" to 6"

• 6" to 25"

• 25" to 50"

• 50" & More

By Industry Vertical:

• Oil & Gas

• Energy & Power

• Chemicals

• Construction

• Pharmaceuticals

• Food & Beverages

• Others

In the oil and gas sector, changing demand patterns among consumers like rising demand for cleaner fuels is a factor promoting the expansion of the world safety valves market. Factors like the expansion of the oil and gas industry, developments in this sector just like the discovery of shale gas and increased demand for cleaner fuels have resulted in increased use of safety valves in this segment, contributing to its market share. Rigid government policies that regulate occupational health and safety like Health and Safety at Work, Act 1974 [amended in 2011, UK], which are needed to be followed by different industries, have a positive impact on the expansion of the global safety valves industry. It is because these regulations make it essential for the enterprises to abide by safety norms, making it necessary to include safety valves in their operations.

Safety Valves Market Regional analysis:

1. North America

   1. U.S

   2. Canada

2. Europe

   1. Norway

   2. Germany

   3. Sweden

3. Asia Pacific

   1. China

   2. India

   3. Japan

4. Latin America

   1. Brazil

   2. Mexico

   3. Argentina

5. Middle East and Africa

a. Middle East

b. Africa

North America's safety valves market is anticipated to carry the main share within the global business due to the rapid industrialization and rapid usage of high-end technology within the region. Alongside this, the rapid establishment of several market players and the flourishing oil and gas industry also are fueling growth within the regional market. Asia Pacific safety valves market is observed to possess the highest growth rate in the worldwide market. Factors like drastic urbanization, infrastructural developments, and rise in investments in various industries like oil and gas sector, the housing industry, water & wastewater treatment lead to increased application of safety valves in this region, contributing to its market dominance.

Safety Valves Market Key Players:

1. Alfa Laval

2. Bosch Rexroth

3. Aquatrol Valve Company

4. ARI-Armaturen

5. Forbes Marshall

6. Baker Hughes (A GE Company)

7. Emerson

8. Danfoss

9. IMI PLC