New Pressure Relief Valves Market Research Report 2021-2025 | Industry Planning Structure for the New Normal | Technavio

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The new pressure relief valves market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

Metadata

Provider:

Business Wire, Inc.

Retrieved on:

Tuesday, January 19, 2021

Information

Tags:

Oil, Gas, Manufacturing, Other Manufacturing, Energy, Chemicals, Plastics

Geotags:

NORTH AMERICA, JAPAN, SOUTH AMERICA, EUROPE, CHINA, APAC

⚠ generated by AI ↴

Organisation:

Summary

Key Points:

The new pressure relief valves market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
View the full release here: https://www.businesswire.com/news/home/20210119005773/en/
Technavio has announced its latest market research report titled Global Pressure Relief Valves Market 2021-2025 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the pressure relief valves market.
As the markets recover, Technavio expects the pressure relief valves market size to grow by USD 937.20 million during the period 2021-2025.
The growth in the chemical industry is one of the prime factors that will facilitate the pressure relief valves market growth in APAC over the forecast period.

The new pressure relief valves market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210119005773/en/

Technavio has announced its latest market research report titled Global Pressure Relief Valves Market 2021-2025 (Graphic: Business Wire)

Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the pressure relief valves market.

Get FREE report sample within MINUTES

"One of the primary growth drivers for this market is the increasing periodic replacement activities,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their position in the slow-growing segments. As the markets recover, Technavio expects the pressure relief valves market size to grow by USD 937.20 million during the period 2021-2025.

Pressure Relief Valves Market Segment Highlights for 2020

The pressure relief valves market is expected to post a year-over-year growth rate of 3.78%.
Based on the end-user, the oil and gas segment saw maximum growth in 2020. To maintain a safe operable environment, pressure relief valves are installed in the drilling to the pumping processes of oil in offshore facilities.
Increasing investments in refining in APAC through new capacity additions and upgrading of existing refineries are expected to drive the growth of the oil and gas segment.

Regional Analysis

42% of the growth will originate from the APAC region.
The growth in the chemical industry is one of the prime factors that will facilitate the pressure relief valves market growth in APAC over the forecast period.
China and Japan are the key markets for pressure relief valves in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

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Notes:

The pressure relief valves market size is expected to accelerate at a CAGR of over 4% during the forecast period.
The pressure relief valves market is segmented by the end-user (Oil & gas, Chemicals & petrochemicals, Power, Water & wastewater, and Other) and geography (APAC, Europe, North America, MEA, and South America).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including Alfa Laval AB, Crane Co., Curtiss-Wright Corp., Emerson Electric Co., General Electric Co., IMI Plc, LESER GmbH. & Co. KG, Parker Hannifin Corp., Schlumberger Ltd., and The Weir Group Plc

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210119005773/en/