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Key Factor Supporting Pressure Relief Valve Market Development in 2025: Growing Demand For Energy Is Fueling The Market Growth Due To Increasing Industrialization And Production Needs
Pressure Relief Valve Market
How Large Will the Pressure Relief Valve Market Size By 2025?
The market size for pressure relief valves has seen a robust expansion in recent years. It is projected to rise from $4.71 billion in 2024 to reach $4.97 billion in 2025, signaling a compound annual growth rate (CAGR) of 5.5%. This growth during the historical period is credited to elements such as heightened industrial safety norms, amplified demand for oil and gas, escalated investments in the chemical industry, burgeoning needs for power generation, and the expansion of pharmaceutical manufacturing operations.
How Big Is the Pressure Relief Valve Market Size Expected to Grow by 2029?
The market size for pressure relief valves is predicted to witness substantial growth in the upcoming years, escalating to $6.13 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 5.4%. The expected growth during the forecast period is due to increased emphasis on device safety, a surge in energy infrastructure projects, expansion of water treatment facilities, growth in marine and shipbuilding activities, and their growing use in HVAC systems. Some significant trends in this forecasting period consist of incorporating Industry 4.0 systems, technology-induced personalization, advancements in environmentally friendly materials, incorporation into renewable energy systems, and improvements in valve actuation techniques.
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Which Key Market Drivers Powering Pressure Relief Valve Market Expansion and Growth?
The escalating demand for energy is predicted to boost the growth of the pressure relief valve market. This surge in energy requirement primarily stems from swift industrialization, as burgeoned industries necessitate copious quantities of power for machinery operation, supporting manufacturing procedures, and upholding elevated production volumes. A pressure relief valve plays a crucial role in energy systems by providing protection against excessive pressure, thwarting equipment harm, and enhancing efficiency and dependability. For example, Statistics Canada, a central statistical agency based in Canada, reported in November 2023 that in 2022, Canada's primary energy production amplified by 3.9%, amounting to 22,616 petajoules, following a 4.5% enhancement in 2021. Thus, this escalating energy demand is fuelling the growth of the pressure relief valve market.
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What Long-Term Trends Will Define the Future of the Pressure Relief Valve Market?
Major firms in the pressure relief valve market are concentrating on creating innovative products like pilot-operated relief valves to boost efficiency, improve safety, and provide superior control in industrial settings. A pilot-operated relief valve is a type of pressure relief valve that employs a smaller pilot valve to regulate the operation of a larger valve. This ensures the release of surplus pressure when it surpasses a set limit, thus safeguarding the system and averting overpressure damage. For example, Emerson Electric Co, an engineering service organization based in the US, introduced the Fisher 63EGLP-16 pilot-operated relief valve in January 2024. This valve provides augmented safety and reliability for pressurized systems, and provides an ideal barrier against overpressure. Due to its dual-pilot design, maintenance can be easily performed without the need to depressurize the system, minimizing downtime. Furthermore, it adheres to industry norms like ASME and NFPA 58, guaranteeing its endurance and efficiency over the long term.
What Are the Emerging Segments in the Pressure Relief Valve Market?
The pressure relief valve market covered in this report is segmented -
1) By Type Of Valve: Spring-Loaded Pressure Relief Valves, Pilot-Operated Pressure Relief Valves, Safety Relief Valves, Pressure Vacuum Relief Valves, Temperature And Pressure Relief Valves, Hydraulic Relief Valves, Pilot-Operated Safety Relief Valves
2) By Material: Forged Steel, Cast Steel, Stainless Steel, Bronze, Cast Iron
3) By Pressure Range: Low Pressure (Up To 100 PSI), Medium Pressure (101 To 500 PSI), High Pressure (Over 500 PSI), Ultra High Pressure (Over 1000 PSI)
4) By Distribution Channel: Direct Sales, Indirect Sales
5) By End Use Industry: Textile, Oil And Gas, Energy And Power, Chemical Plants, Leather, Food And Beverage, Other End Use Industries
Subsegments:
1) By Spring-Loaded Pressure Relief Valves: Conventional Spring-Loaded Valves, Balanced Spring-Loaded Valves, Bellows-Type Spring Valves
2) By Pilot-Operated Pressure Relief Valves: Non-flowing Pilot Valves, Flowing Pilot Valves, Modulating Pilot Valves
3) By Safety Relief Valves: Gas Service Safety Relief Valves, Liquid Service Safety Relief Valves, Steam Service Safety Relief Valves
4) By Pressure Vacuum Relief Valves: End-of-Line Pressure Vacuum Relief Valves, In-Line Pressure Vacuum Relief Valves, Bi-Directional Pressure Vacuum Relief Valves
5) By Temperature And Pressure Relief Valves: Residential Temperature And Pressure Relief Valves, Commercial Temperature And Pressure Relief Valves, Industrial Temperature And Pressure Relief Valves
6) By Hydraulic Relief Valves: Direct-Acting Hydraulic Relief Valves, Pilot-Operated Hydraulic Relief Valves, Proportional Hydraulic Relief Valves
7) By Pilot-Operated Safety Relief Valves: High-Pressure Pilot-Operated Valves, Low-Pressure Pilot-Operated Valves, Multi-Port Pilot-Operated Valves
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Who Are the Global Leaders in the Pressure Relief Valve Market?
Major companies operating in the pressure relief valve market are Honeywell International Inc., General Electric Company, Parker-Hannifin Corporation, Emerson Electric Co., Danfoss A/S, Alfa Laval AB, GE Measurement & Control Solutions, Pentair plc, Bosch Rexroth AG, The Weir Group PLC, Crane Company, IMI plc, Watts Water Technologies Inc., Rotork plc, Spirax-Sarco Limited, LESER GmbH & Co. KG, Taylor Valve Technology Inc., Goetze KG Armaturen, Mercury Manufacturing Company Inc., AGF Manufacturing Inc.
Which are the Top Profitable Regional Markets for the Pressure Relief Valve Industry?
North America was the largest region in the pressure relief valve market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pressure relief valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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