The Global Pressure Relief Valves Market size is expected to reach $5.5 billion by 2028, rising at a market growth of 4.8% CAGR during the forecast period

The Global Pressure Relief Valves Market size is expected to reach $5.5 billion by 2028, rising at a market growth of 4.8% CAGR during the forecast period

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A pressure relief valve, also known as a relief valve, is a safety valve utilized to manage or limit the pressure in a system. Without it, the pressure could build up and cause a process upset, fire, equipment, or instrument failure.

New York, March 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Pressure Relief Valves Market Size, Share & Industry Trends Analysis Report By Pressure, By End User, By Type, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06435104/?utm_source=GNW
By allowing the pressurized fluid to flow out of the system through an auxiliary route, the pressure is eased. The relief valve is programmed or intended to open at a particular set pressure to prevent the pressure vessels and other equipment from exceeding their design limits.

When the preset pressure is crossed, the relief valve is forced to open, and a part of the fluid is redirected along the auxiliary channel. The diverted fluid (gas, liquid, or liquid-gas mixture) is generally directed through a relief header or flare header to a central, elevated gas flare where it is usually burned, and the ensuing combustion gases are discharged to the atmosphere in systems that have combustible fluids.

In non-hazardous systems, the fluid is frequently evacuated to the atmosphere through ample discharge pipework designed to prevent rainwater intrusion, which might change the set lift pressure and is positioned so that employees are not harmed. When the fluid is diverted, the pressure inside the vessel stops rising further.

The valve closes on its own as it reaches the reseating pressure. The blowdown, generally expressed as a percentage of the set pressure, refers to the pressure that must be reduced before the valve reseats. Some valves feature adjustable blowdowns, which can vary between up to 20%. It is advisable to place the relief valve outlet in the open air in high-pressure gas systems. Opening a relief valve in a system where the outlet is joined to the piping will result in a pressure build-up in the piping system downstream of the relief valve.

COVID-19 Impact Analysis

The COVID-19 pandemic has halted the production of pressure relief valves for the end-user, primarily due to the prolonged lockdowns in many nations by the government and also forced organizations to stop their operation to control the prevalence of COVID-19. Also, the requirement for power generation witnessed a decline, and the disruption in the supply chain due to the trade and transportation restriction further restricted the growth of the pressure relief valve market. These factors have significantly affected the growth of the pressure relief valve during the pandemic.

Market Growth Factors

The raising power and oil & gas industries

The growing regulation for the usage of pressure relief valves in the power generation industry is expected to create opportunities for the market. There is a rising number of nuclear power plants in the world, and many more are in development phases. By safeguarding superheaters, boilers, and turbines to enable the stations to run at a prescribed pressure, pressure relief valves play an important role in the safe and successful operation of nuclear power plant facilities. With the rising oil & gas sector and the constantly growing number of nuclear power plants, the utilization of pressure relief valves is anticipated to increase which will propel the market’s growth.

The rising requirement in the food and beverages industry

The rapid rise in urbanization has increased the popularity of conveniently packaged food products. On the other hand, growing middle-class consumers has increased the demand for high-quality packaged food. The rising food and beverages industry is expected to increase the usage of pressure relief valves as they have broader use in the industry. These applications range from sanitary liquid processes to dry bulk storage to maintain a clean environment for food processing. Hence, the raising food & beverages industry will surge the growth of the pressure relief valves market in the projected period.

Market Restraining Factors

Valve’s leakage problem

Valve leakage is a general problem but can cause a lot of trouble in industrial facilities. While some valves are expected to have a certain level of leakage, especially when they reach the nameplate set pressure, other valve leakage is considered problematic. It can pose a threat to the facility. Pressure relief will have leakage if they aren’t fully closed. This is generally caused by industrial settings where environments are dirty or dusty. If there is any waste stuck in the valve, it can hinder the valve from closing fully and lead to leakage. Thereby these factors are restricting the market growth.

Type Outlook

Based on type, the pressure relief valves market is segmented into spring loaded, pilot operated, dead weight and P & T actuated. The spring-loaded segment dominated the pressure relief valves market with maximum revenue share in 2021. This is due to the various advantages, like the greater capacity to withstand high temperatures, high pressure high compatibility with chemicals. These types of valves are being used for a more extended period in numerous industries. Apart from that, these valves aid in venting the fluid to secure the system from overpressure. Installing the spring loaded valves into the system helps decrease the damage to the components.

Pressure Outlook

On the basis of pressure, the pressure relief valves market is divided into low, high and medium. The low segment held the highest revenue share in the pressure relief valves market in 2021. The growth is attributed to its utilization when the ambient atmospheric and vessel pressure difference is small. These low pressure relief valves are intended to fit in a line that allows a free flow through the side ports, with the exhaust placed at the right angles to the flow direction. They are utilized in the smooth working of oil, water, and gas systems. Hence, their utilization when the pressure between the vessel and ambient atmosphere is small, coupled with other factors, will assist in the segment’s expansion.

End User Outlook

By end user, the pressure relief valves market is classified into oil & gas, chemical, power generation, food & beverages, manufacturing and water & wastewater. The oil & gas segment acquired a prominent revenue share in the pressure relief valves market in 2021. The growth is attributed to the rising usage of oil and gas pipes in developed and developing nations. Industries are now concentrating on expanding their production facilities through offshore and onshore oil and gas exploration to meet the increasing supply and demand. The oil and gas sector is one of the most significant users of the pressure relief valves market; hence with the increase in the oil and gas sector, the utilization of pressure relief valves will also surge, aiding in the segment’s expansion.

Regional Outlook

Region-wise, the pressure relief valves market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region registered the highest revenue share in the pressure relief valves market in 2021. This is due to the rapid urbanization in emerging economies, which has increased the development speed of the region. This development will surge the demand for pressure relief valves in numerous industries like wastewater treatment, energy & power, chemicals, oil & gas, etc. Also, the fast advancement of nuclear energy generation is increasing the demand for pressure relief valves. Hence, the mentioned factors are expected to boost market growth in the Asia Pacific region.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company, Emerson Electric Co., The Weir Group PLC, Curtis-Wright Corporation, IMI PLC, Watts Water Technologies, Inc., Alfa Laval AB, AGF Manufacturing, Inc., Mercury Manufacturing Company Ltd., and Goetze KG Armaturen.

Scope of the Study

Market Segments covered in the Report:

By Pressure

• Low

• Medium

• High

By End User

• Power Generation

• Manufacturing

• Oil & Gas

• Water & Wastewater

• Chemical

• Food & Beverages

By Type

• Spring Loaded

• Pilot Operated

• Dead Weight

• P & T Actuated

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• General Electric Company

• Emerson Electric Co.

• The Weir Group PLC

• Curtis-Wright Corporation

• IMI PLC

• Watts Water Technologies, Inc.

• Alfa Laval AB

• AGF Manufacturing, Inc.

• Mercury Manufacturing Company Ltd.

• Goetze KG Armaturen

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06435104/?utm_source=GNW

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