Global pressure relief valves for water & wastewater treatment sales are set to be valued at close to US$ 1.2 Bn in 2021, with steady long-term projections, according to latest insights by Persistence market Research. The report estimates the market to expand at around 5% CAGR from 2021 to 2031. Constant demand from oil & gas, private water supply & distribution, and municipal water supply & distribution sectors are augmenting market growth in terms of volume. The fact that there is a pressure relief valve design that is suitable for almost any application involving low viscosity fluids makes the market outlook bright for the future. Demand for pressure relief valves for water & wastewater treatment declined in 2020 due to the COVID-19 pandemic. However, the water & wastewater segment of the industry was hurt less due to the latest guidelines issued by the World Health Organization (WHO), which bodes well for the sales of these equipment. Despite the risk of a stimulus in many countries, the market’s long-term outlook is looks much optimistic.
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Key Takeaways from Market Study
- Persistence Market Research predicts a healthy oil and gas industry growth rate in economies such as China, India, the Middle East, and Africa. As pressure relief valves for water & wastewater treatment are important pieces of equipment for ensuring accurate and safe transportation and pumping in oil and gas and other applications, demand is set to rise steadily.
- Pilot operated valves to hold one-third of the overall market share.
- 6 to 12 inch valves are projected to hold over half of the overall market share as an application by 2031-end.
- The global market witnessed a slump in 2020 due to the COVID-19 pandemic, with a recorded growth of -1.1%.
- The market in GCC Countries is projected to expand at a CAGR of around 6%, while that in ASEAN at close to 8%, through 2031.
- The market in India and Australia & New Zealand is set to surge at greater than 5% CAGR over the next ten years.
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Competitive Landscape
The market is identified to be highly consolidated, with key players accounting for more than four-fifth of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.
Some of the key players in this industry are Emerson Electric Co., Watts Water Technologies, Inc., Weir Group Plc., KSB Group, Flowserve Corp., and Curtiss-Wright Corp.
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