Global Safety Valves Market to Grow from US$ 8.0 Bn in 2023 to US$ 14.0 Bn by 2034 at 5.5% CAGR - Transparency Market Research

Global Safety Valves Market Size Outlook 2034

The global safety valves market was valued at US$ 8.0 billion in 2023 and is projected to expand at a steady CAGR of 5.5% from 2024 to 2034. By the end of 2034, the market is expected to reach approximately US$ 14.0 billion. Rising industrial safety regulations, expansion of manufacturing activities, and increasing adoption of automated flow-control systems are driving the demand for safety valves worldwide.

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Market Overview

Safety valves play a critical role in protecting equipment, industrial processes, and personnel by preventing overpressure conditions in pipelines, boilers, pressure vessels, and storage systems. Their significance has grown considerably as industries adopt more complex and high-pressure systems across sectors such as oil & gas, power generation, chemicals, and pharmaceuticals.

Global industrialization, stringent safety standards, modernization of aging infrastructure, and digital upgrades in fluid control systems are creating strong growth momentum for the market. Safety valves are also becoming essential components in renewable energy projects, LNG terminals, advanced water treatment facilities, and next-generation manufacturing plants.

As industries focus on reducing accident risks, downtime, and environmental hazards, the demand for high-performance, corrosion-resistant, and smart safety valves continues to rise.

Key Market Growth Drivers

1. Increasing Emphasis on Industrial Safety Compliance
Governments worldwide are enforcing stricter safety norms to prevent industrial accidents. Mandatory use of safety valves in high-pressure systems across oil refineries, chemical plants, and power plants is fueling market growth.

2. Expansion of Oil & Gas and Petrochemicals Sectors
Growing exploration activities, LNG infrastructure development, and refinery expansions are boosting the installation of safety valves in pipelines, storage vessels, and upstream equipment.

3. Rise in Power Generation Projects
Rapid capacity additions in thermal, nuclear, and renewable power plants require robust pressure control components. Safety valves ensure operational reliability in boilers, turbines, and heat exchangers.

4. Growth in Chemical, Pharmaceutical, and Food Industries
These industries rely heavily on safety valves for controlling pressure fluctuations in reactors, mixing vessels, and processing systems. Sterile and corrosion-resistant valves are gaining traction.

5. Adoption of Automation and Smart Monitoring Solutions
Industry 4.0 is reshaping the global valves industry. Sensors, IoT integration, and automated safety systems are improving the performance, monitoring, and maintenance of safety valves.

Analysis of Key Players in the Global Safety Valves Market

The global safety valves market is characterized by strong competition, with leading manufacturers focusing on expanding geographical reach and strengthening product portfolios to address rapidly evolving industrial safety requirements. A majority of companies highlighted in global safety valve industry reports continue to invest heavily in expanding their presence across high-growth regions, particularly Asia Pacific, Europe, and North America.

Product launches remain the dominant strategic initiative, as companies aim to introduce valves that offer enhanced safety integrity, compliance with stringent standards, and adaptability to modern industrial applications. This growing emphasis on R&D and innovation is expected to significantly contribute to the expansion of the global safety valves market during the forecast period.

Prominent manufacturers in the industry include

• Baker Hughes
• CIRCOR International, Inc.
• Emerson Electric
• Flowserve Corporation
• Franklin Electric
• KSB SE & Co. KGaA
• PARKER HANNIFIN CORP
• Pentair Plc
• Watts Water Technologies, Inc.
• Wilo SE
• Others Key Players.
These companies have been extensively profiled based on business overview, financial performance, product portfolio, technological capabilities, strategic initiatives, and recent developments.

Many of these players continue to expand their distribution networks and invest in high-efficiency valve technologies to cater to rapidly growing industrial sectors such as oil & gas, chemical processing, power generation, water & wastewater, and manufacturing.

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Key Developments in the Global Safety Valves Industry

✔ Emerson Electric (February 2023)
Emerson introduced its ASCOTM Series 262 and 263 combustion safety shutoff valves, marking a significant milestone as the first certified valves compatible with biodiesel blends in industrial and commercial boilers across the Americas and Asia.
These valves support the transition toward cleaner, sustainable energy sources by enabling district heating and boiler burner operators to adopt biofuel-based heating systems. This innovation aligns with evolving global regulations aimed at reducing greenhouse gas emissions and promoting low-carbon industrial operations.

✔ CIRCOR International (August 30, 2024)
CIRCOR announced the divestiture of its DeltaValve and TapcoEnpro brands to SCF Partners, allowing the company to strategically refocus on its core product segments.
DeltaValve and TapcoEnpro, known for their severe-service industrial valves used widely in global energy infrastructure, will benefit from SCF Partners' investment and operational expertise. Meanwhile, CIRCOR's realigned business strategy aims to enhance performance and agility within its primary markets.

Market Challenges & Opportunities

Challenges
• High maintenance and operational costs for advanced safety valves
• Complex installation procedures in aging infrastructure
• Fluctuations in raw material prices, especially steel and alloys
• Lack of skilled technicians for modern automated valve systems
• Stringent certification requirements that increase time-to-market for new products

Opportunities
• Growing demand for smart and self-diagnostic valves
• Industrial expansions in Asia-Pacific, the Middle East, and Africa
• Increasing adoption of LNG and hydrogen-based energy systems
• Replacement demand for old and non-compliant valves in developed regions
• Rising investments in wastewater treatment and chemical processing facilities

Investment Landscape and ROI Outlook

The safety valve market presents a strong and stable investment environment driven by mandatory safety compliance and continuous industrial expansion.

Investment Highlights
• Growing installations across oil & gas, power, and chemical plants
• High replacement demand due to strict safety audits
• Expansion of automation and remote monitoring systems
• Strong opportunities in emerging regions with infrastructure gaps

ROI Outlook

Given the projected CAGR of 5.5%, investors can expect stable, long-term returns. Companies that focus on:
• Smart valve technology
• Customized solutions
• Strong service networks
• High-quality manufacturing
are likely to achieve the highest profitability over the next decade.

Market Segmentations

By Type
• Pressure relief valves
• Pressure safety valves
• Pilot-operated safety valves
• Low-pressure safety valves
• High-temperature safety valves

By Material
• Stainless steel
• Cast iron
• Carbon steel
• Alloy-based materials
• Special high-temperature alloys

By End-Use Industry
• Oil & gas
• Power generation
• Chemicals & petrochemicals
• Pharmaceuticals
• Food & beverages
• Water & wastewater treatment
• Manufacturing & industrial

By Application
• Boilers
• Pipelines
• Storage tanks
• Pressure vessels
• Compressors & pumps

By Region
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America

Why Buy This Report?

• Offers comprehensive forecasts up to 2034
• Provides in-depth insight into market dynamics, drivers, and restraints
• Includes competitive landscape and company strategies
• Helps identify high-growth regions and investment hotspots
• Covers technology trends and future innovation areas
• Supports strategic planning for manufacturers, EPC firms, and investors

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FAQs

1. What was the value of the safety valves market in 2023?
The market was valued at US$ 8.0 billion.

2. What is the projected market size for 2034?
It is expected to reach US$ 14.0 billion.

3. What is the CAGR for the forecast period (2024-2034)?
The market is projected to grow at 5.5% CAGR.

4. What industries primarily use safety valves?
Oil & gas, power generation, chemicals, pharmaceuticals, and food processing.

5. What trends are shaping the future of the market?
Smart valve technologies, automation, energy transition projects, and stricter safety regulations.

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