Global $4.6 Billion Pressure Relief Valves Market to 2027: Established Use Case Across Diverse Sectors to Renew Market Demand in Post COVID-19 Period

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Dec 21, 2020, 09:00 ET

DUBLIN, Dec. 21, 2020 /PRNewswire/ -- The "Pressure Relief Valves - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

As Manufacturing PMI Dips, it Takes Down All Hopes for Normalcy in the Pressure Relief Valves Market. On the Cards is a $657.5 Million Erosion in Revenues

The global market for Pressure Relief Valves is expected to decline by -15.3% in the year 2020 and thereafter recover and grow to reach US$4.6 billion by the year 2027, trailing a post COVID-19 CAGR of 3.4% over the analysis period 2020 through 2027.

Manufacturing industries ranging from oil & gas, processing to paper & pulp, capital goods industry has been massively impacted by economic disruptions of COVID-19. Global economic activity is slumping with GDP growth forecast to dip as low as -4.9% in the year 2020. The manufacturing industry, which is the largest end-user of pressure sensitive valves, is the worst affected given its complex supply chains, labor intensive processes, and inter-dependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations have made the manufacturing sector most vulnerable amid the lockdown restrictions.

An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low in 2020 as compared to the 53.8 in 2019. With roots in China, the world's supply chains are facing unprecedented disruption and shutdown. Interwoven with a demand crisis, the supply chain shocks are exerting a compounded blow to manufacturing companies worldwide. A combination of all the aforementioned macro-economic issues alongside more specific factors such as suspension of the transportation and changes in demand patterns have dealt a debilitating blow to the manufacturing industry.

The falling PMI indices indicates severe contraction of manufacturing activity including new orders, production, employment, supplier deliveries, inventories, customers' inventories, commodity prices, order backlog, new export orders, and imports. Business investment confidence is tumbling amidst poor demand, falling profits, liquidity crunch and a reeling global economy. The great lockdown of 2020 has crushed the global economy and with it the manufacturing sector.

The COVID-19 pandemic will have lasting long-term economic, social and political impact. As upstream, midstream and downstream sectors of manufacturing feel the ripple effect of disruption, pressure sensitive valves also a key part of the value chain is expected to feel the heat.

Expenditure in the oil & gas and energy sector in 2020 is expected to decline by over $88.9 billion and $365 billion, while chemicals, mining, will see reductions of -30% and -27% respectively. Most CAPEX reductions have been to protect balance sheets, maintain shareholder pay-outs & preserve liquidity. As capital spending cuts sweeps through all industries, demand scenario for pressure relief valves, a vital safety component & feature in most processing equipment, remains poor.

In the post COVID-19 period, stringent regulations on energy efficiency, several industries such as food processing, chemicals and other process industries will generate long term demand for pressure relief valves. Moreover, stringent government guidelines on industrial safety will also drive the market for pressure relief valves.

In addition to process industries, the power generation industry is one of the major users of pressure relief valves. In the thermal power plants, pressure relief valves help in maintaining the pressure within the system, thereby averting costly accidents. As energy efficiency and industrial safety continue to garner interest among all stakeholders, demand for pressure relief valves is expected to grow steadily in future, after a temporary lull in 2020 and 2021.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

COVID-19 Outbreak Poised to Dent Market Prospects in the Immediate Term
Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Discourage the Pressure Relief Valves Market in Short Term
Established Use Case Across Diverse Sectors to Renew Market Demand in Post COVID-19 Period
An Introduction to Pressure Relief Valve
Evolution of PRVs
Key Components of Pressure Relief Valve
Parameters to Consider for Selecting PRVs
Identifying Failure of Pressure Relief Valves
Select Technical Terms Associated with PRV Operation
Standards and Codes for Pressure Relief Valves
Pressure Relief Valves (PRV) vs. Pressure Safety Valves (PSV)
Product Types of Pressure Relief Valves
PRV Types by Set Pressure
Key End-Uses of PRVs
Pressure Relief Valves: Global Market Overview and Outlook
Spring Loaded PRVs: Largest Product Segment
Regional Market Analysis
Competition
Recent Market Activity
Select Global Brands

2. FOCUS ON SELECT PLAYERS

Alfa Laval AB
Bopp & Reuther Messtechnik GmbH
Curtiss-Wright Corporation
Emerson Electric Company
Flowserve Corporation
GE Healthcare Life Sciences
IMI Precision Engineering
LESER GmbH & Co. KG
NEWAY VALVE (SUZHOU) CO., LTD.
Pentair PLC
Valvitalia SpA
Velan, Inc.
Watts Water Technologies, Inc.
Weir Group PLC

3. MARKET TRENDS & DRIVERS

Thrust Towards Digitalization and Automation across Industries Augurs Well for Long-Term Growth
Rise of Industry 4.0 & Smart Factory Mandates Technology Adjustments to Pressure Relief Valve Technology
IIoT to Stir Adoption of Pressure Relief Valve Digitalization
Despite the Current Depressive Scenario, Oil & Gas Sector to Remain Dominant End-Use Sector
Relevance in Power Industry
Sustained Opportunities in Nuclear Power Sector
Widespread Use in Chemicals Industry
Water & Wastewater Industry: Infrastructure Development Drives Demand
Pulp & Paper Industry: Unique Needs of Mills Set Demand Trends
Urban Sprawl Extends Broad-based Opportunities
Smart City, the New Urban Infrastructure Concept, to Fuel Fresh Wave of Growth
Technology Innovations & Advancements
Technology Improvements Augment Product Design & Efficiency
Cartridge Valves: A Key Development in Pressure Relief Valve Segment
Regulations, Codes and Standards
Issues & Challenges

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 82

For more information about this report visit https://www.researchandmarkets.com/r/zca67r

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