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Australian Pressure Safety Valve Market by Offering (Safety Valve and Safety Valve Component), Safety Valve Type (Spring Loaded Valve, Pilot Operated Valve, and Dead Weight Valve), and End-user Industry (Oil & Gas, Power & Energy, Healthcare & Pharmaceuti

08-02-2018 10:26 AM CET | Industry, Real Estate & Construction

Press release from: Research Beam

Australian Pressure Safety Valve Market by Offering (Safety

Australian pressure safety valve market size is expected to reach $65.38 million by 2025 from $52.12 million in 2017, growing at a CAGR of 2.88% during the forecast period (2018–2025). Pressure safety valves (pressure relief valves) are specially designed valves that regulate the surge in pressure within the pressure systems, which otherwise could hinder industrial processes. The valves have outlets that guide the additional flow of fluids or gases, which build up during the operation of the machineries or equipment. The valves prevent the failure of pressure systems and subsequently maintain the safety pressure within the pressure vessels.

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On the basis of the valve design and construction, the valve immediately releases excess pressure through a pop action or gradually opens the outlet as the pressure increases and subsequently closes the outlet after reaching the threshold pressure settings of the valve. As a result, these valves have huge scope of applications in surveillance, control, and safety operation of industrial boilers, pressure vessels, transport tanks, and original equipment manufacturer (OEM) applications. Moreover, safety valves are utilized across many industry verticals, such as oil industry (midstream, upstream, and downstream), power generation, chemicals processing, marine, water treatment, mining, and others.

The presence of abundant natural resources and proliferation of mining activities continue to provide profitable business opportunities for the Australian end-user industries. As a result, export of various commodities, such as Iron, petroleum-based products, chemicals, and others, to Asian countries propels the end-user industry growth, despite limited population. Moreover, the aftersales market for maintenance, services, and upgrades of existing safety valves installed at various industry verticals generates revenue for the market players and drives the growth of Australian pressure safety valve market.

However, the fast-growing economies in Asian countries and their growth in technological capabilities limit the growth of the end-user industries. This hinders the demand for safety valves in the oil & gas, power & energy, manufacturing, chemicals, and other end-user industries. The availability of the government’s support through tax benefits, schemes, and favorable policies is expected to encourage the growth of Australian pressure safety valve end-user industries and fuel the demand for safety vales during the forecast period.

The Australian pressure safety valve market is segmented based on offering, safety valve type, end-user industry, and region. By offerings, the market is bifurcated into safety valves and safety valve components. The safety valve types are spring loaded valve, pilot operated valve, and dead weight valve. Safety valves have applicability in steam boilers, pressure-based systems, pressure vessels, discharge systems, and fluid distribution systems. As a result, by the end-user industry, the market is segmented into oil & gas, power & energy, healthcare & pharmaceutical, water supply system, and others. In addition, to gain further diverse insights, the market is analyzed across major regions namely, North America, Europe, Asia-Pacific, and Latin America Middle East and Africa (LAMEA).

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Currently, the Australian pressure safety valve market consists of many key players namely, Emerson Electric Co., Spirax Sarco Pty. Limited., Cebeco, Score Pacific PLC, Callidus Group, LESER, Powerflo Solutions, Mercer Valve Co., Inc., Western Process Controls, and Bourke Valves.

KEY MARKET SEGMENTS
By Offering
Safety Valve
Safety Valve Component

By Safety Valve Type
Spring Operated Valve
Pilot Operated Valve
Dead Weight Valve

By End-user Industry
Oil & Gas
Power & Energy
Healthcare & Pharmaceutical
Water Supply System

KEY MARKET PLAYERS

Bourke Valves
Callidus Group
Cebeco Pty. Ltd.
Emerson Electric Co.
LESER GmbH & Co. KG
Mercer Valve Company, Inc.
Powerflo Solutions
Score Group PLC
Spirax Sarco Pty. Limited
Western Process Controls

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