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Market Size – USD 5.11 Billion in 2020, Market Growth - CAGR of 14.6%, Market Trends –Increased consumption of oil and gas
NEW YORK CITY, NEW YORK, USA, September 15, 2022 /EINPresswire.com/ -- The Global Safety valves market is forecast to reach USD 6.81 Billion by 2028, according to a new report by Reports and Data.
Safety values have become an integral part of the operation for different industries in contemporary times. The expansion of these industries is promoting the growth of the market. Another essential driving factor for the market is stringent government policies regulating workplace health and safety. It is because of these government regulations; it has become necessary for different industries to comply with these safety norms and incorporate safety valves in their operation. Such a rise in safety valves application in various sectors encourages the growth of this sector.
In addition to these factors, with a rise in global population, there has been a rise in demand for oil and gas. For catering to this present demand for oil and gas, the industry is focusing on various developments. One such recent event in the oil and gas industry is the discovery of shale gas. Such developments in the industry, along with its expansion, is positively impacting the growth of the safety valves market. Expansion of global population has also resulted in increased demand for energy. In order to cater to the rise in demand for energy, alternative sources of energy generation like nuclear energy generation are being tapped. In the operation of nuclear energy generation, safety valves are essential in preventing radioactive elements from getting disseminated. Hence, the growth of nuclear energy generation also results in the growth of safety valves market.
In context to region, Asia Pacific can be seen to dominate the market. Factors like infrastructural developments and rise in investments in various industries like the construction industry, oil and gas sector, and drastic urbanization have resulted in its market dominance.
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Top 10 Profiled in the Safety Valves Market Report: • Alfa Laval • Bosch Rexroth • Aquatrol Valve Company • ARI-Armaturen • Forbes Marshall • Baker Hughes (A GE Company) • Emerson • Danfoss • IMI PLC • Curtiss-Wright Corporation
Market Segmentation: Product types Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2028) • Spring-loaded Pressure-relief Valves • Dead-Weight Pressure-relief Valves • Pilot-operated Pressure-relief Valves
Material type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2028) • Cast Iron • Stainless Steel • Cryogenic • Alloy
Size type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2028) • Less than 6 inch • 7 inch-25 inch • 26 inch-50 inch • 50 inch and above
Application areas Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2028) • Oil & Gas Industry • Water & Wastewater • Energy & Power • Agriculture • Pharmaceuticals • Chemicals • Metal & Mining • Food & Beverage Industry • Others
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Key Takeaways of the Safety Valves Market Report: • A comprehensive overview of the global Safety Valves industry. • Accurate market projections in terms of market size, share, and volume. • Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues. • Deep-dive analysis of the upcoming market trends. • Qualitative and quantitative analyses of the Safety Valves Market. • Elaborate study of the leading regional markets in the Safety Valves Market. • Complete overview of the market’s competitive landscape. • Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report: • North America o U.S. o Canada o Mexico
• Europe o Russia o U.K. o Germany o France o BENELUX o Rest of Europe
• Asia Pacific o China o Japan o India o South Korea o Rest of Asia Pacific
• Latin America o Brazil o Rest of Latin America
• Middle East & Africa o Saudi Arabia o U.A.E. o Israel o Rest of Middle East & Africa
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About Reports and Data Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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