The global pressure relief valves market to grow at a CAGR of 1.65% during the period 2016-2020.
Global Pressure Relief Valves Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The rising demand for natural gas in China is likely to propel investment in gas pipeline projects. The government has commissioned many projects to transport oil and natural gas from resource-abundant provinces to other regions. This will ensure sustainable development of natural resources across the country.
According to the report, the Indian petrochemical and chemical industry has been growing significantly due to increased demand from the process, manufacturing, and agricultural sectors. Petrochemical and chemical plants include methanol plants, ethylene plants, and fertilizer production plants. The requirement for pressure relief valves in these plants is diverse, such as for high pressure and backpressure, protection from thermal expansion, and small and large capacities. For all applications, there are high demands placed on inspection and documentation.
Further, the report states that the threat from low-cost vendors restricts the entry of international vendors in developing countries, especially in APAC, limiting the growth of the global market.
Key vendors:
- Curtiss-Wright - GE - LESER - Pentair - Weir Group
Other prominent vendors:
- Alfa Laval - Bopp & Reuther Sicherheits-und Regelarmaturen - Crane - Emerson Electric - Flowserve - IMI - Neway Valve (Suzhou) - Valvitalia Group - Velan - Watts Water Technologies
