Press release
Australian Pressure Safety valve Market Fastest-Growing Regions Analysis Till 2025 | To Reach $65.38 Mn
Australian Pressure Safety valve Market
The Australian pressure safety valve market, valued at $52.12 million in 2017, is projected to reach $65.38 million by 2025, with a compound annual growth rate (CAGR) of 2.88% from 2018 to 2025. Oil & gas sector dominates the market, contributing to approximately one-third of the total revenue.
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Driving Forces:
Industrial spending in respective end-user industries and enhanced industrial production capabilities are major drivers of the Australian pressure safety valve market. Abundant natural resources and limited local demand further boost growth in Australian end-user industries.
These factors are expected to propel market growth in the forecast period. However, increasing technological capabilities in rapidly growing Southeast Asian economies may impede industrial spending and constrain market growth in certain Australian end-user industries such as chemicals, textiles, construction, among others.
Safety valves find significant applications in steam boilers, heating boilers, industrial equipment, machinery, and OEM applications across various industry verticals. Thus, based on end-user industry, the market is broadly categorized into oil & gas, power & energy, healthcare & pharmaceutical, water supply system, and others.
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Key Players:
Major players in the Australian pressure safety valve market are focusing on new product development to solidify their presence. Key players highlighted in the report include Emerson Electric Co., Spirax Sarco Pty. Limited, Cebeco, Score Pacific PLC, Callidus Group, LESER, Powerflo Solutions, Mercer Valve Co., Inc., Western Process Controls, Bourke Valves, among others.
Key Segments Based On:
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
Others
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