High-Pressure Relief Valves Market: Information by Product Type (Direct-Operated, Pilot-Operated, Others), Application, and Region — Forecast Till 2029

Apr 09, 2020   Market Outlook A pressure relief valve is a safety device designed to protect an overpressurized vessel or piping system by venting fluids back to the system to the low-pressure side during an overpressure event. Industrial accidents potentially bring down the top-notch industrial players to rock bottom. The demand for technologies that can ensure the safety of the plant is rising among the facility owners. Moreover, several regulatory such as pipeline and hazardous materials safety administra...
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Report Description

Market Outlook

A pressure relief valve is a safety device designed to protect an overpressurized vessel or piping system by venting fluids back to the system to the low-pressure side during an overpressure event.

Industrial accidents potentially bring down the top-notch industrial players to rock bottom. The demand for technologies that can ensure the safety of the plant is rising among the facility owners. Moreover, several regulatory such as pipeline and hazardous materials safety administration have put up various regulations, that is compelling the facility owners to install technologies that will enhance and ensure the safety of the plants.

As the demand for primary power consumption is rising, it is also projecting the industrial sector to grow at a fast pace to meet this demand. This has led to the expansion of various industries such as oil & gas, energy, and petrochemical in terms of both capacities and reach across the globe.

Increasing Number of Processing Plants Across the Globe

The continuously rising population has impelled the growth of the various market across the globe. Thus, to meet these demands, industrialists are scaling-up their production by setting up new plants across the globe, especially in emerging economies. Additionally, as the industrialization of the country reflects in its economic growth, the government of various countries taking several initiatives to boost the industrial sector of their country. For Instances, According to India Brand Equity Foundation (IBEF), the Government of India unveiled 'Pharma Vision 2020' under which it has reduced the approval time for new facilities to boost investments of the pharmaceutical sector, the aiming to make India a global leader in end-to-end drug manufacture market. Such initiatives and expansion are expected to push up the demand for high-pressure relief valves in the upcoming years.

Some of the major expansion across various end-use industries are as follows:

  • In 2016, Saudi Aramco and Saudi Basic Industries Corp (SABIC), signed an agreement to set-up a joint oil-to-chemicals project. The project aims to produce chemicals and base oils directly from 20 million tonnes per annum of crude oil. It is also expected that the project will use Saudi Aramco’s Catalytic Crude to Chemicals (CC2C) technology, which is likely to increase the efficiency and yield of chemicals production. The facility is expected to be completed by 2028.
  • In 2016, Shell announced the plan of build a major petrochemical plant near Pittsburgh, Pennsylvania, USA. The plant will consist of an ethylene cracker with a polyethylene derivatives unit. The plant is expected to produce 1.6 million tonnes of polyethylene each year. In November 2017, the first phase of the program was completed at the beginning of the construction phase.
  • Aurobindo Pharma has got the environmental clearance by the Ministry of Environment, Forests and Climate Change for installing its manufacturing facility in Srikakulam district of Andhra Pradesh. Through the project, the company plans to increase its production capacity of bulk drugs and intermediates from 583.31 tonnes per month to 1,518.3 tonnes per month.

High-Pressure Valves Used in the Oil & Gas Industry to Protect Fracturing and Treating Lines, Others

Pressure relief valves are used in the oil & gas industry to provide overpressure protection for fracturing & treating lines, pressure vessels, cementing/fracturing pumps, and other equipment. Oil and gas lines, high-pressure well-servicing lines, acidizing & fracturing lines, manifolds and pipelines, and vessels are some of the significant applications where high-pressure relief valves are used across the oil & gas industry.

To meet the rising demand, energy is one major driver fueling the growth of the oil & gas Industry. Thus, further leading to the consumption of high-pressure relief valves for the safety of the pipelines. According to the B.P. statistical review of world energy 2019, the global oil consumption went up from 96,737 TBPD in 2016 to 99,843 TBPD in 2018, in which the U.S. itself accounted for 20.4% in 2018. It is expected that this consumption will rise in the upcoming years.

Energy Sector’s Market Demand to Prrotect Power Plants

In the energy sector, pressure safety valves are used across various industries such as thermal power plants, hydroelectric plants, and nuclear plants. In these industries, high-pressure relief valves are used to provide overpressure protection of pressurized systems. These valves are majorly used in steam, gas, and vapor services.

The continuously rising temperature across the globe, increasing awareness regarding climate change, and rapidly growing demand for energy consumption has boosted the growth of the energy sector in recent years. This has shifted the consumer preference towards using cleaner resources for energy generation. Thus, propelling the growth of the sector.

Thus to meet this demand, the manufacturers are trying to increase the energy efficiency through renewables and by making the power systems more flexible. According to the International Renewable Energy Agency (IRENA), electricity consumption in end-use sectors would double by 2050 to over 42 000 TWh, while the carbon intensity of the power sector would decline by 85%.  And the Investment in new renewable power capacity is also likely to be increased to almost USD 500 billion per year over the period to 2050.

Figure 1: Breakdown of Electricity Generation (2015-2050)

Breakdown of Electricity GenerationSource: International Renewable Energy Agency (IRENA)

Ensuring Safety Using High-Pressure Relief Valves in the Chemical Industry

In the chemical and petrochemical industry, high-pressure relief valves are used in the pipelines to transfer industrial gases, and for cooling and oxygen transfer applications in chemical reactors. These valves help to optimize processes and assist in ensuring the safety of plants and workers.

Moreover, the chemical industry is underway rapid expansion and scaling up its manufacturing process through mergers and acquisitions. As the industry is thriving, the complexity of the plants is also rising and increasing the risk associated with it. Thus, to guarantee the safety of the plants and workers, the manufacturers are spending a significant amount on the installation of these pressure valves.

Figure 2: Hourly distribution of casualty accidents in China from 2006 to May 2018

Hourly distribution of casualty accidents in China

Source: Molecular Diversity Preservation International

The Need to Protect Food and Beverages

In the food & beverage industry, high-pressure relief valves are used to control the flow performance and shut-off protection for food safety. Some of the major application areas of these valves are the distilleries, fermenters, dairy processing, steam control, and others.

Over the last few years, the rapidly growing population and the continuously changing demand of the consumer have changed the food & beverage industry dramatically. The increase in the obesity level and health issues related to them has increased the demand for health foods and more informative nutritional labeling among the individuals. This has led to the adoption of new technologies in the food processing industry. Thus, making the process more complicated and risky.

High-Pressure Relief Valves Market: Key Players

  • LESER GmbH & Co. KG
  • Emerson Electric Co.
  • Baker Hughes, a GE company LLC
  • Velan Inc.
  • Groth Corporation
  • Schlumberger Limited
  • Bosch Rexroth AG
  • Watts Water Technologies, Inc.
  • The Weir Group PLC
  • Pentair plc
  • Goetze KG Armaturen
  • Curtiss-Wright
  • PARKER HANNIFIN CORP
  • IMI Precision Engineering Limited
  • Afva Laval
  • Flow Safe, Inc.
  • Mercury Manufacturing Company
  • Forbes Marshall
  • AGF Manufacturing Inc.

High-Pressure Relief Valves Market Segmentation

By Product Type

  • Direct-Operated
  • Pilot-Operated
  • Others

By End-Use Industry

  • Oil & Gas
  • Energy
  • Chemical
  • Food & Beverages
  • Petrochemical
  • Others

By Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • The Netherlands
  • Poland
  • The Rest of Europe

Asia-Pacific

  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Indonesia
  • Singapore
  • Malaysia
  • The Rest of Asia-Pacific

Central, South America, and the Caribbean

  • Argentina
  • Brazil
  • Colombia
  • The Rest of Central, South America, and the Caribbean

Middle East

  • Saudi Arabia
  • Oman
  • Qatar
  • The U.A.E
  • Turkey
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • The Rest of Africa

Market Outlook

A pressure relief valve is a safety device designed to protect an overpressurized vessel or piping system by venting fluids back to the system to the low-pressure side during an overpressure event.

Industrial accidents potentially bring down the top-notch industrial players to rock bottom. The demand for technologies that can ensure the safety of the plant is rising among the facility owners. Moreover, several regulatory such as pipeline and hazardous materials safety administration have put up various regulations, that is compelling the facility owners to install technologies that will enhance and ensure the safety of the plants.

As the demand for primary power consumption is rising, it is also projecting the industrial sector to grow at a fast pace to meet this demand. This has led to the expansion of various industries such as oil & gas, energy, and petrochemical in terms of both capacities and reach across the globe.

Increasing Number of Processing Plants Across the Globe

The continuously rising population has impelled the growth of the various market across the globe. Thus, to meet these demands, industrialists are scaling-up their production by setting up new plants across the globe, especially in emerging economies. Additionally, as the industrialization of the country reflects in its economic growth, the government of various countries taking several initiatives to boost the industrial sector of their country. For Instances, According to India Brand Equity Foundation (IBEF), the Government of India unveiled 'Pharma Vision 2020' under which it has reduced the approval time for new facilities to boost investments of the pharmaceutical sector, the aiming to make India a global leader in end-to-end drug manufacture market. Such initiatives and expansion are expected to push up the demand for high-pressure relief valves in the upcoming years.

Some of the major expansion across various end-use industries are as follows:

  • In 2016, Saudi Aramco and Saudi Basic Industries Corp (SABIC), signed an agreement to set-up a joint oil-to-chemicals project. The project aims to produce chemicals and base oils directly from 20 million tonnes per annum of crude oil. It is also expected that the project will use Saudi Aramco’s Catalytic Crude to Chemicals (CC2C) technology, which is likely to increase the efficiency and yield of chemicals production. The facility is expected to be completed by 2028.
  • In 2016, Shell announced the plan of build a major petrochemical plant near Pittsburgh, Pennsylvania, USA. The plant will consist of an ethylene cracker with a polyethylene derivatives unit. The plant is expected to produce 1.6 million tonnes of polyethylene each year. In November 2017, the first phase of the program was completed at the beginning of the construction phase.
  • Aurobindo Pharma has got the environmental clearance by the Ministry of Environment, Forests and Climate Change for installing its manufacturing facility in Srikakulam district of Andhra Pradesh. Through the project, the company plans to increase its production capacity of bulk drugs and intermediates from 583.31 tonnes per month to 1,518.3 tonnes per month.

High-Pressure Valves Used in the Oil & Gas Industry to Protect Fracturing and Treating Lines, Others

Pressure relief valves are used in the oil & gas industry to provide overpressure protection for fracturing & treating lines, pressure vessels, cementing/fracturing pumps, and other equipment. Oil and gas lines, high-pressure well-servicing lines, acidizing & fracturing lines, manifolds and pipelines, and vessels are some of the significant applications where high-pressure relief valves are used across the oil & gas industry.

To meet the rising demand, energy is one major driver fueling the growth of the oil & gas Industry. Thus, further leading to the consumption of high-pressure relief valves for the safety of the pipelines. According to the B.P. statistical review of world energy 2019, the global oil consumption went up from 96,737 TBPD in 2016 to 99,843 TBPD in 2018, in which the U.S. itself accounted for 20.4% in 2018. It is expected that this consumption will rise in the upcoming years.

Energy Sector’s Market Demand to Prrotect Power Plants

In the energy sector, pressure safety valves are used across various industries such as thermal power plants, hydroelectric plants, and nuclear plants. In these industries, high-pressure relief valves are used to provide overpressure protection of pressurized systems. These valves are majorly used in steam, gas, and vapor services.

The continuously rising temperature across the globe, increasing awareness regarding climate change, and rapidly growing demand for energy consumption has boosted the growth of the energy sector in recent years. This has shifted the consumer preference towards using cleaner resources for energy generation. Thus, propelling the growth of the sector.

Thus to meet this demand, the manufacturers are trying to increase the energy efficiency through renewables and by making the power systems more flexible. According to the International Renewable Energy Agency (IRENA), electricity consumption in end-use sectors would double by 2050 to over 42 000 TWh, while the carbon intensity of the power sector would decline by 85%.  And the Investment in new renewable power capacity is also likely to be increased to almost USD 500 billion per year over the period to 2050.

Figure 1: Breakdown of Electricity Generation (2015-2050)

Breakdown of Electricity GenerationSource: International Renewable Energy Agency (IRENA)

Ensuring Safety Using High-Pressure Relief Valves in the Chemical Industry

In the chemical and petrochemical industry, high-pressure relief valves are used in the pipelines to transfer industrial gases, and for cooling and oxygen transfer applications in chemical reactors. These valves help to optimize processes and assist in ensuring the safety of plants and workers.

Moreover, the chemical industry is underway rapid expansion and scaling up its manufacturing process through mergers and acquisitions. As the industry is thriving, the complexity of the plants is also rising and increasing the risk associated with it. Thus, to guarantee the safety of the plants and workers, the manufacturers are spending a significant amount on the installation of these pressure valves.

Figure 2: Hourly distribution of casualty accidents in China from 2006 to May 2018

Hourly distribution of casualty accidents in China

Source: Molecular Diversity Preservation International

The Need to Protect Food and Beverages

In the food & beverage industry, high-pressure relief valves are used to control the flow performance and shut-off protection for food safety. Some of the major application areas of these valves are the distilleries, fermenters, dairy processing, steam control, and others.

Over the last few years, the rapidly growing population and the continuously changing demand of the consumer have changed the food & beverage industry dramatically. The increase in the obesity level and health issues related to them has increased the demand for health foods and more informative nutritional labeling among the individuals. This has led to the adoption of new technologies in the food processing industry. Thus, making the process more complicated and risky.

High-Pressure Relief Valves Market: Key Players

  • LESER GmbH & Co. KG
  • Emerson Electric Co.
  • Baker Hughes, a GE company LLC
  • Velan Inc.
  • Groth Corporation
  • Schlumberger Limited
  • Bosch Rexroth AG
  • Watts Water Technologies, Inc.
  • The Weir Group PLC
  • Pentair plc
  • Goetze KG Armaturen
  • Curtiss-Wright
  • PARKER HANNIFIN CORP
  • IMI Precision Engineering Limited
  • Afva Laval
  • Flow Safe, Inc.
  • Mercury Manufacturing Company
  • Forbes Marshall
  • AGF Manufacturing Inc.

High-Pressure Relief Valves Market Segmentation

By Product Type

  • Direct-Operated
  • Pilot-Operated
  • Others

By End-Use Industry

  • Oil & Gas
  • Energy
  • Chemical
  • Food & Beverages
  • Petrochemical
  • Others

By Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • The Netherlands
  • Poland
  • The Rest of Europe

Asia-Pacific

  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Indonesia
  • Singapore
  • Malaysia
  • The Rest of Asia-Pacific

Central, South America, and the Caribbean

  • Argentina
  • Brazil
  • Colombia
  • The Rest of Central, South America, and the Caribbean

Middle East

  • Saudi Arabia
  • Oman
  • Qatar
  • The U.A.E
  • Turkey
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • The Rest of Africa