Data Bridge Market Research analyses that the Safety Valve Market was valued at USD 5.74 billion in 2021 and is expected to reach the value of USD 11.00 billion by 2029, at a CAGR of 8.47% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

The importance of safety valves in industrial processes, increased demand from oil and gas, and the growth of nuclear energy generation are some of the key factors driving the safety valves market. Other factors driving market growth include the constant need for safety valve replacement and the use of 3D printers in manufacturing lines.

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Global Safety Valve Market Drivers

  • Growing need of safety valves in industrial applications

Some of the major and impactful factors driving the growth of the safety valve industry are increased awareness of the importance of safety valves in various industrial processes such as power generation, gas and petroleum, including water and sewage processing, mining, oil processing, food manufacturing, increased demand for the product in the oil & gas industry, growth in nuclear energy generation, and increased use of 3D printers in manufacturing lines.

  • Growing industrial accidents is propelling market growth

Rising demand for water and power, pollution control regulations, and rapid growth of process industries are some of the major factors driving the safety valve market. These factors are expected to accelerate the growth of the safety valve industry during the assessment period. The market is expanding due to the increased construction of nuclear power plants. The rise in accidental incidents and soaring demand for safety valves in various industrial sectors are propelling the global market forward.

Some of the major players operating in the safety valve market are:

  • Emerson Electric Co (U.S.)
  • Schlumberger Limited (U.S.)
  • General Electric (U.S.)
  • Curtiss-wright Corporation (U.S.)
  • ALFA LAVAL (Sweden)
  • IMI plc (U.K.)
  • LESER GmbH & Co.KG (Germany)
  • The Weir Group PLC (Scotland)
  • Forbes Marshall (India)
  • Danfoss (Denmark)
  • Bosch Rexroth AG (Germany)
  • Spirax Sarco Limited (U.K.)

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Global Safety Valve Market Scope

Material

  • Steel
  • Alloy
  • Cast Iron
  • Cryogenic
  • Others

Size

  • Less Than 1”
  • 1” to 10”
  • 11” to 20”
  • 20’ & Above

End use

  • Oil & Gas
  • Energy & Power
  • Chemicals
  • Food & Beverage
  • Water & Wastewater Treatment
  • Others

Safety Valve Market Regional Analysis/Insights

The countries covered in the safety valve market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

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