Safety Valves Market

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MarketsandMarkets Research Private Ltd.
Presents
Safety Valves Market worth 5.5 billion by 2024
with a growing CAGR of 4.30
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afety-valve-market-121512658.html
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According to the new market research report
"Safety Valves Market by Size (Up to 1 inch, 16
inch, 6 25 inch, 25 50-inch, 50 inch, and
Above), Material (Stainless Steel, Cast Iron,
Alloy, Cryogenic), Industry (Oil Gas, Energy
Power, Water Wastewater), and Region - Global
Forecast to 2024", the safety valve market is
expected to be worth USD 4.5 billion in 2019 and
reach USD 5.5 billion by 2024, at a CAGR of 4.30
from 2019 to 2024. The growth of this market can
be attributed to the high demand for safety valve
from various industries such as oil gas, energy
power, and water wastewater, especially from
APAC and North America. Browse gtgt
65 Market data tables
40 figures 130 pages and
in-depth TOC on Safety Valves Market
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Oil gas industry to hold the largest share of
the safety valves market in 2019 By industry,
the oil gas leads the safety valve market.
Recent uptrend in the oil gas industry, the
latest discovery of shale gas in North America,
and increasing demand for cleaner fuels are the
major factors that are likely to drive the safety
valve market growth in the next few years. In
addition, Demand for oil and gas is supported by
a large population in emerging economies, such as
India and China. Population growth in APAC is
likely to support increasing demand for oil, and
the transportation sector is likely to account
for a larger share of worldwide energy
consumption in the coming years. Market for
cryogenic material to grow at the highest CAGR
during the forecast period The safety valve
market for cryogenic material is expected to
witness the highest growth during the forecast
period. Uptrend in the oil gas industry and
increased focus on cleaner fuels will boost the
market for natural gas production and
transportation, which, in turn, will boost the
demand for cryogenic safety valve during the
forecast period. This demand generates the need
for cryogenic material to handle cryogenic
temperature safely.
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afety-valve-market-121512658.html
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APAC expected to hold largest share of safety
valves market in 2019 APAC is expected to hold
the largest share of the safety valve market in
2019. The growth is mainly attributed to Rapid
urbanization and population growth in developing
and emerging economies, such as China, Japan, and
India, has prompted speedy development in the
region, which will, in turn, boost demand for
safety valves from several industries, such as
energy power, water wastewater treatment,
chemicals, pharmaceuticals, and oil gas. A few
key players operating in the safety valve market
are Emerson (US), Alfa Laval (Sweden), Cameron
Schlumberger (US), LESER (Germany), and IMI PLC
(UK).
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afety-valve.asp
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