Pressure Relief Valve (PRV) Market
Pressure Relief Valve (PRV) Market Global Industry Assessment & Forecast
- By Type High Pressure Relief Valves, Medium Pressure Relief Valves, Low Pressure Relief Valves
- By Application Oil and Gas, Chemical Processing Industry, Paper and Pulp Industry, Food and Beverage Industry, Pharmaceutical Industry, Others
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||3.6 Billion|
|Revenue 2028:||5.6 Million|
|Revenue CAGR (2021 - 2028):||3.4|
|Fastest Growing Region (2022 - 2028)||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
The global Pressure Relief Valve (PRV) market was valued at USD 3.6 Billion in 2020 and is projected to reach USD 5.6 Million by 2028, growing at a CAGR of 3.4% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2028|
|Annual Market Size (2028)||5.6 Million|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||3.4%|
Overview and Description
Pressure Relief Valves are used to control the pressure in a system in the state of a process upset or equipment failure. The extra pressure in the orderliness is relieved through an auxiliary passage. A typical pressure relief valve is intended to operate at a predetermined set pressure to assist in protecting other vessels and accessories from being subjected to unsafe pressure. If the pressure in the system is exceeded the relief valve automatically becomes the passage of least resistance and assists retain the pressure.
The global Pressure Relief Valve (PRV) market report provides a thorough analysis of each segment, region, and country. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecasts, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report. In addition to that, the report will cover a thorough analysis of major players operating in the market based on company overview, product portfolio, recent developments, business strategies, financial performance, and market share among others. Cumulatively, the report will cover all aspects regarding the global Pressure Relief Valve (PRV) market.
COVID-19 Impact Analysis
In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
The report includes an exhaustive analysis of Pressure Relief Valve (PRV) industry that includes drivers, restraints/challenges, opportunities, and segmental/regional trends among others. Apart from that, it will also cover extensive information on various marketing tools such as PEST Analysis, Porter’s Five Forces Analysis, pricing trends, SWOT analysis, and value chain among others.
Rapidly growing health and safety concerns across all industry verticals is drivng factor for Pressure Relief Valve (PRV) Market.
Growth and reviving oil & gas in chemical industry for manufacturing is drivng the demand for Pressure Relief Valve (PRV) Market.
Government regulations to ensure the workforce's safety and provides with certain regulations is hindering the growth for Pressure Relief Valve (PRV) Market.
Global Pressure Relief Valve (PRV) Market Report Scope
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Type, Application|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||Pentair, IMI, Conbarco Industries, Curtiss Wright, Weir Group, Alfa Laval, Velan, Flow Safe, LESER, GE, Goetze KG Armaturen, Watts Water Technologies.|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Type Analysis: Preview
On the basis of Type, the market is segmented into High Pressure Relief Valves, Medium Pressure Relief Valves, Low Pressure Relief Valves. Hot rolled Steel pipes held the highest share in the global Pressure Relief Valve (PRV) market and is projected to witness the same trend during the forecast period.
Application Analysis: Preview
Based on Application, the market is segmented into Oil and Gas, Chemical Processing Industry, Paper and Pulp Industry, Food and Beverage Industry, Pharmaceutical Industry, Others. Oil & Gas accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Based on , the market is segmented into . dominates the global Pressure Relief Valve (PRV) market and is expected to continue the same trend from 2021 to 2028.
Global Pressure Relief Valve (PRV) Market: Type Segment Analysis
- High Pressure Relief Valves
- Medium Pressure Relief Valves
- Low Pressure Relief Valves
Global Pressure Relief Valve (PRV) Market: Application Segment Analysis
- Oil and Gas
- Chemical Processing Industry
- Paper and Pulp Industry
- Food and Beverage Industry
- Pharmaceutical Industry
Regional Analysis: Preview
Geographically, the global Pressure Relief Valve (PRV) market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report covers a thorough segmental analysis for each region comprising of market size and estimations for each segment by region for the years 2016–2028. In addition to that the report analyses Pressure Relief Valve (PRV) market at country-level hence the regional study is further bifurcated into key country-level markets from each region. North America is anticipated to dominate the global market during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users. Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan.
Market Size, 2021 (USD Billion)
Global Pressure Relief Valve (PRV) Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Major players in the global Pressure Relief Valve (PRV) market are Pentair, IMI, Conbarco Industries, Curtiss Wright, Weir Group, Alfa Laval, Velan, Flow Safe, LESER, GE, Goetze KG Armaturen, Watts Water Technologies.. The global Pressure Relief Valve (PRV) market report covers an exhaustive analysis of all the key players in the industry. This includes a business overview, extensive portfolio, business strategies, news, financial performance, length of distribution network, and geographical presence among others. In addition to that, the report also covers company market share along with in-depth strategic developments.
Global Pressure Relief Valve (PRV) Market: Key Highlights
- The global Pressure Relief Valve (PRV) market was valued at USD 3.6 Billion in 2020
- The global Pressure Relief Valve (PRV) Market is projected to reach USD 5.6 Million by 2028
- North America held the highest share of the Pressure Relief Valve (PRV) market in 2020
- Some of the major companies operating in the Pressure Relief Valve (PRV) market are Pentair, IMI, Conbarco Industries, Curtiss Wright, Weir Group, Alfa Laval, Velan, Flow Safe, LESER, GE, Goetze KG Armaturen, Watts Water Technologies.
|Sr. No.||Offering||Report Coverage|
|1.||Market Size||In terms of Revenue (USD Million)|
|2.||Historic Data||2015 to 2019|
|3.||Forecast Data||2021 to 2028|
|4.||Market Drivers, Restraints, Opportunities, & Regional Market Trends||Yes|
|5.||Market Attractiveness Analysis||Yes|
|6.||Segment Analysis||Maximum Segments|
|7.||Regional Coverage||5 Regions|
|8.||Country Coverage||Top 22 Countries|
|9.||Competitive Landscape and Company Market Share Analysis||Yes. Exhaustive information will be provided in two separate chapters of Competitive Landscape and Company Profiles.|
|10.||Porter’s Five Forces Analysis||Yes.|
|11.||Value Chain Analysis||Yes|
|15.||COVID-19 Impact Analysis||Yes. Exhaustive information for Key Strategies Undertaken by Companies, Impact Assessment of the COVID-19 Pandemic by Region, along with Short-term and Long-term dynamics.|
|16.||Top startups to watch out for||Yes|
|17.||Top 3 Trends to Watch||Yes|
|18.||Top 3 Strategies Followed by Major Players||Yes|
|19.||Top 3 Predictions by Vantage Market Research||Yes|
|21.||Key Primary Respondents - VERBATIM||Yes|
|22.||Transcripts from the Primary Respondents||Additional Cost USD 1,000|
Frequently Asked Question
The global Pressure Relief Valve (PRV) valued at 3.6 Billion in 2020 and is expected to reach 5.6 Million in 2028 growing at a CAGR of 3.4%.
The prominent players in the market are Pentair, IMI, Conbarco Industries, Curtiss Wright, Weir Group, Alfa Laval, Velan, Flow Safe, LESER, GE, Goetze KG Armaturen, Watts Water Technologies..
The market is project to grow at a CAGR of 3.4% between 2021 and 2028.
The driving factors of the Pressure Relief Valve (PRV) include
- Rapidly growing health and safety concerns across all industry verticals is drivng factor for Pressure Relief Valve (PRV) Market.
- Growth and reviving oil & gas in chemical industry for manufacturing is drivng the demand for Pressure Relief Valve (PRV) Market.
North America was the leading regional segment of the Pressure Relief Valve (PRV) in 2020.