Safety Valve Market Trends, Growth And Regional Outlook 2027
SAFETY VALUE MARKET
Market Overview
The possession of the property is incomplete with a proper safety valve. It does the function of protecting property, life, and the environment in any adverse conditions. These valves are designed to release excess pressure from the vessels, boilers, or other equipment to prevent damage. These valves should be maintained properly to work at the right time. A safety valve is not just a normal valve that operates as a pressure valve; it is the last leg of safety to operate when overpressure occurs. Safety valves are available in sizes ranging from 1 inch to 50 inches and above.
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Regional Classification
In the material segment, stainless steel material dominates the Safety Valve Market by having the highest share during the forecast period. Reducing the threat of contamination in critical processes like water and steam handling in chemical industries and food and beverages can be handled better by stainless steel safety value. This is the main reason behind the growth of the safety valve market. The agriculture industry contributes to growing at the highest CAGR during the forecast period in the Industry segment. The usage of the overall pipeline is more and is meant for long distances in agriculture. Further safety valves are used for precision farming applications, and irrigation and valves made of brass, steel, and a wide array of plastics materials are widely used. In region segment, Asia-Pacific dominates the safety valve market by contributing 35%, followed by North America 28%, Europe 22% and 15% Rest of world respectively.
Market Segmentation
The safety valve market can be segmented on material, size, industry, and region. According to the material segment, the safety valve market can be divided into stainless steel, alloy, cast iron, cryogenic, etc. According to the size segment, it can be further divided into Up to 1”, 1” to 6”, 6” to 25”, 25” to 50” and above 50”. According to the industry segment, the safety valve market can be divided into Agriculture, Chemicals, Pharmaceuticals, Oil & Gas, Energy & Power, Water & Wastewater, Building & Construction, Metal & Mining, Paper & Pulp, Food & Beverages, Semiconductor, Textile, and Glass, etc. According to the region segment, the safety valve market is divided into North America, Asia-Pacific, Europe, and the rest of the world.
Industry News
The launch of the new steam test facility, low-pressure pilot operated pressure relief valve has bought a revolution in the manufacture of safety valves. These help in reducing the overpressure and thereby increase the profit margin. According to the global safety valves market analysis, the safety valve market is expected to reach USD 5.5 billion by the end of the year 2024, at 4.30% CAGR.
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