According to the pressure relief valves market report, the Indian petrochemical and chemical industry has been growing significantly due to increased demand from the process, manufacturing, and agricultural sectors. Petrochemical and chemical plants include methanol plants, ethylene plants, and fertilizer production plants. The requirement for pressure relief valves in these plants is diverse, such as for high pressure and backpressure, protection from thermal expansion, and small and large capacities. For all applications, there are high demands placed on inspection and documentation.
Complete report on pressure relief valves market spread across 59 pages, analyzing 5 major companies and providing 25 data exhibits is now available at:
The nuclear power industry in China is expected to grow three-fold, adding a nuclear capacity of at least 58 GWe by the end of 2020 and then another 150 GWe by the end of 2030. In 2014, nuclear power contributed 125.9 TWh or 2.4% of the total electricity produced in China. The country has 30 nuclear reactors in operation, 24 under construction, and another 30 in the planning stage. Nuclear power plants play a vital role, especially in areas that are far away from coalfields and also in areas that are experiencing rapid economic development. In nuclear power plants, pressure relief valves are widely used to protect the super-heaters, turbines, and boilers, to enable the nuclear power station to run at the optimal high temperature and pressure. An increase in capacity expansion of nuclear power stations in China is expected to drive up the demand for pressure relief valves market.
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Increased demand from the petrochemical and chemical sectors in India is also expected to aid market growth over the next four years. The Indian petrochemical and chemical industry has been growing significantly due to increased demand from the process, manufacturing, and agricultural sectors. The requirement for pressure relief valves in these plants is diverse, such as for high pressure and backpressure, protection from thermal expansion, and small and large capacities. Rising investments and rapid growth in these sectors will drive the market for pressure relief valves by 2020.
End-user segmentation and analysis of the pressure relief valves market – Oil and gas, Chemical, Power, Others (pharmaceutical, pulp and paper, food and beverages, shipbuilding, and HVAC industries)
The oil and gas segment accounted for more than 39% of the market share during 2015 and is expected to retain its market leadership until the end of 2020. The recent slump in oil prices has led many oil companies to decommission their oil rigs and cut down sharply on the investment in oil production and exploration activities. These factors are expected to exert influence on the demand for pressure relief valves in the oil and gas industry.
Key players in the Global Pressure Relief Valves Market: Curtiss-Wright, GE, LESER, Pentair and Weir Group.
Other Prominent Vendors in the market are: Alfa Laval, Bopp & Reuther Sicherheits-und Regelarmaturen, Crane, Emerson Electric, Flowserve, IMI, Neway Valve (Suzhou), Valvitalia Group, Velan and Watts Water Technologies.
Further, the pressure relief valves market report states that the threat from low-cost vendors restricts the entry of international vendors in developing countries, especially in APAC, limiting the growth of the global market.
Another related report is Global High-Integrity Pressure Protection System Market 2016-2020, the analysts forecast global HIPPS market to grow at a CAGR of 7.68% during the period 2016-2020. This helps organizations across process industries such as power, mining and metals, oil and gas, water and wastewater, and chemicals, to meet international quality standards. All these industries are regulated to ensure the safety of manufacturing plants.
Key players in the Global High-Integrity Pressure Protection System Market: ABB, Rockwell Automation, Schneider Electric and Yokogawa Electric.
Other prominent vendors in the market are: Emerson Process Management, Esoterica Automation, General Electric, HIMA Paul Hildebrandt, Honeywell International, Johnson Controls, Mokveld, Norgren, OMRON, RTP, Siemens and Tyco International.
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