Safety Valves

Safety Valves

Global Safety Valves Market to Reach $6.1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Safety Valves estimated at US$3.7 Billion in the year 2020, is projected to reach a revised size of US$6.1 Billion by 2027, growing at a CAGR of 7.4% over the analysis period 2020-2027. Stainless Steel, one of the segments analyzed in the report, is projected to record a 7.9% CAGR and reach US$2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Cryogenic segment is readjusted to a revised 8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 11.5% CAGR

The Safety Valves market in the U.S. is estimated at US$1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2027 trailing a CAGR of 11.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 6.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$839.6 Million by the year 2027.



Cast Iron Segment to Record 7% CAGR

In the global Cast Iron segment, USA, Canada, Japan, China and Europe will drive the 7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$556 Million in the year 2020 will reach a projected size of US$868.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 7.6% CAGR through the analysis period.

Select Competitors (Total 33 Featured) -

• Alfa Laval
• Baker Hughes
• Bosch Rexroth
• Cameron–Schlumberger Ltd.
• Curtiss-Wright Corporation
• Danfoss
• Emerson Electric Co.
• Forbes Marshall
• General Electric
• IMI Plc
• LESER GmbH & Co. KG
• Spirax Sarco Limited
• Weir Group Plc

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