Safety Valves Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
The Global Safety Valves Market was valued at USD 4.2 billion in 2023 and is projected to grow at a CAGR of 5% from 2024 to 2032. The global safety valve market is being propelled by industrialization. As economies transition from agriculture to industry, the demand for industrial machinery surges. Key sectors, including oil and gas, chemical processing, power generation, and manufacturing, rely on safety valves to manage pressure and ensure safe operations. The establishment of new factories, refineries, and processing plants amplifies the demand for safety valves, driving market growth.
Infrastructure initiatives, encompassing the highways, construction of bridges, and industrial parks, further bolster the safety valve market. The overall safety valves industry is classified based on type, distribution channel, material, size, pressure range, end-user, and region. The market is segmented by type into direct-acting, bellows, and pilot-operated valves. In 2023, the direct-acting segment led the market, generating revenues surpassing USD 2 billion, and is projected to grow at a CAGR of 5.1% during the forecast period.
Direct-acting safety valves utilize a spring-loaded mechanism that responds promptly to pressure changes, ensuring reliable pressure relief. When the system pressure exceeds a predetermined limit, the spring's force is overcome, prompting the valve to open and release the excess pressure. Valued for their simplicity, rapid response, and ease of maintenance, direct-acting safety valves find common application in scenarios demanding immediate pressure relief, such as compressed air systems, steam boilers, and specific chemical processes. Distribution channels for the market are categorized into direct and indirect sales.
In 2023, the indirect sales segment led the market, capturing approximately 59% of the total share, and is anticipated to expand at a CAGR of 5.3% during the forecast period. The indirect sales approach in the safety valves market entails distributing products via intermediaries, including distributors, wholesalers, and resellers, rather than direct sales to end-users. This strategy enables manufacturers to tap into established distribution networks and local expertise, broadening their customer reach to encompass smaller businesses and regional markets that might be challenging to access directly. Asia Pacific took the lead as the dominant region, amassing a notable revenue of USD 1.5 billion, with projections of a 5.6% CAGR during the forecast period.
The Asia-Pacific landscape for safety valves is vibrant and swiftly evolving, spurred by vigorous industrial growth and infrastructural advancements in pivotal nations like China, India, and various Southeast Asian countries. With significant investments pouring into sectors such as oil and gas, power generation, chemical processing, and manufacturing—each heavily reliant on safety valves for operational safety and efficiency—the region witnesses a pronounced demand.
Infrastructure initiatives, encompassing the highways, construction of bridges, and industrial parks, further bolster the safety valve market. The overall safety valves industry is classified based on type, distribution channel, material, size, pressure range, end-user, and region. The market is segmented by type into direct-acting, bellows, and pilot-operated valves. In 2023, the direct-acting segment led the market, generating revenues surpassing USD 2 billion, and is projected to grow at a CAGR of 5.1% during the forecast period.
Direct-acting safety valves utilize a spring-loaded mechanism that responds promptly to pressure changes, ensuring reliable pressure relief. When the system pressure exceeds a predetermined limit, the spring's force is overcome, prompting the valve to open and release the excess pressure. Valued for their simplicity, rapid response, and ease of maintenance, direct-acting safety valves find common application in scenarios demanding immediate pressure relief, such as compressed air systems, steam boilers, and specific chemical processes. Distribution channels for the market are categorized into direct and indirect sales.
In 2023, the indirect sales segment led the market, capturing approximately 59% of the total share, and is anticipated to expand at a CAGR of 5.3% during the forecast period. The indirect sales approach in the safety valves market entails distributing products via intermediaries, including distributors, wholesalers, and resellers, rather than direct sales to end-users. This strategy enables manufacturers to tap into established distribution networks and local expertise, broadening their customer reach to encompass smaller businesses and regional markets that might be challenging to access directly. Asia Pacific took the lead as the dominant region, amassing a notable revenue of USD 1.5 billion, with projections of a 5.6% CAGR during the forecast period.
The Asia-Pacific landscape for safety valves is vibrant and swiftly evolving, spurred by vigorous industrial growth and infrastructural advancements in pivotal nations like China, India, and various Southeast Asian countries. With significant investments pouring into sectors such as oil and gas, power generation, chemical processing, and manufacturing—each heavily reliant on safety valves for operational safety and efficiency—the region witnesses a pronounced demand.
Report Content
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2018 - 2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.1.1 Factors affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Impact forces
3.2.1 Growth drivers
3.2.1.1 Increased industrialization and infrastructure development
3.2.1.2 Stringent safety and regulatory standards
3.2.1.3 Technological advancements and innovations
3.2.2 Industry pitfalls & challenges
3.2.2.1 High costs and maintenance challenges
3.2.2.2 Market saturation and competitive pressure
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Pricing analysis
3.6 Porter’s analysis
3.7 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY TYPE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
5.1 Key trends
5.2 Direct acting
5.3 Bellows
5.4 Pilot-operated
CHAPTER 6 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY MATERIAL, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
6.1 Key trends
6.2 Stainless steel
6.3 Carbon steel
6.4 Brass
6.5 Plastic
6.6 Others (Inconel, etc.)
CHAPTER 7 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY SIZE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
7.1 Key trends
7.2 Up to 1'
7.3 1' to 6'
7.4 6' to 25'
7.5 25' to 50'
7.6 50' and larger
CHAPTER 8 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY PRESSURE RANGE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
8.1 Key trends
8.2 < 35MPa
8.3 35 – 70 MPa
8.4 70 – 110 MPa
8.5 400 MPa
8.6 700 MPa
8.7 20 kpsi
8.8 60 kpsi
CHAPTER 9 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY END USERS, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
9.1 Key trends
9.2 Oil & gas
9.3 Water & wastewater treatment
9.4 Power industry
9.5 Chemical industry
9.6 Others
CHAPTER 10 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
10.1 Key trends
10.2 Direct sales
10.3 Indirect sales
CHAPTER 11 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY REGION, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
11.1 Key trends
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.4 Asia Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 Australia
11.5 Latin America
11.5.1 Brazil
11.5.2 Mexico
11.6 MEA
11.6.1 Saudi Arabia
11.6.2 UAE
CHAPTER 12 COMPANY PROFILES
12.1 Burkert Fluid Control Systems
12.2 Cameron
12.3 Crane Co.
12.4 Emerson Electric Co.
12.5 Flowserve Corporation
12.6 GE Measurement & Control Solutions
12.7 Honeywell International Inc.
12.8 Moog Inc.
12.9 Parker Hannifin Corporation
12.10 Pentair plc
12.11 Rotork Plc
12.12 Schneider Electric SE
12.13 Spirax Sarco Limited
12.14 ValvTechnologies, Inc.
12.15 Watts Water Technologies, Inc.
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2018 - 2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.1.1 Factors affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Impact forces
3.2.1 Growth drivers
3.2.1.1 Increased industrialization and infrastructure development
3.2.1.2 Stringent safety and regulatory standards
3.2.1.3 Technological advancements and innovations
3.2.2 Industry pitfalls & challenges
3.2.2.1 High costs and maintenance challenges
3.2.2.2 Market saturation and competitive pressure
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Pricing analysis
3.6 Porter’s analysis
3.7 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY TYPE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
5.1 Key trends
5.2 Direct acting
5.3 Bellows
5.4 Pilot-operated
CHAPTER 6 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY MATERIAL, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
6.1 Key trends
6.2 Stainless steel
6.3 Carbon steel
6.4 Brass
6.5 Plastic
6.6 Others (Inconel, etc.)
CHAPTER 7 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY SIZE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
7.1 Key trends
7.2 Up to 1'
7.3 1' to 6'
7.4 6' to 25'
7.5 25' to 50'
7.6 50' and larger
CHAPTER 8 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY PRESSURE RANGE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
8.1 Key trends
8.2 < 35MPa
8.3 35 – 70 MPa
8.4 70 – 110 MPa
8.5 400 MPa
8.6 700 MPa
8.7 20 kpsi
8.8 60 kpsi
CHAPTER 9 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY END USERS, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
9.1 Key trends
9.2 Oil & gas
9.3 Water & wastewater treatment
9.4 Power industry
9.5 Chemical industry
9.6 Others
CHAPTER 10 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
10.1 Key trends
10.2 Direct sales
10.3 Indirect sales
CHAPTER 11 SAFETY VALVES MARKET ESTIMATES & FORECAST, BY REGION, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
11.1 Key trends
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.4 Asia Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 Australia
11.5 Latin America
11.5.1 Brazil
11.5.2 Mexico
11.6 MEA
11.6.1 Saudi Arabia
11.6.2 UAE
CHAPTER 12 COMPANY PROFILES
12.1 Burkert Fluid Control Systems
12.2 Cameron
12.3 Crane Co.
12.4 Emerson Electric Co.
12.5 Flowserve Corporation
12.6 GE Measurement & Control Solutions
12.7 Honeywell International Inc.
12.8 Moog Inc.
12.9 Parker Hannifin Corporation
12.10 Pentair plc
12.11 Rotork Plc
12.12 Schneider Electric SE
12.13 Spirax Sarco Limited
12.14 ValvTechnologies, Inc.
12.15 Watts Water Technologies, Inc.
