The Europe Pressure Relief Valves Market would witness market growth of 4.3% CAGR during the forecast period (2022-2028).
The pressure relief valve may be the only device remaining to prevent a catastrophic failure once a situation occurs that causes the pressure in a vessel or system to increase to a hazardous level. Since reliability is directly related to the complexity of the device, it is essential that the design of the pressure relief valve be as simple as possible. The pressure relief valve must open at a set pressure that is predetermined by the operators, flow at a rated capacity at a specified overpressure, and close when the system pressure is back to a safe level.
Pressure relief valves must be made with a material compatible with many process fluids, from water and air to the most corrosive ones. They must be created to operate consistently, stable, and smoothly with numerous fluids and fluid phases. The main objective of a pressure relief valve is to save life, property, and the environment. A pressure relief valve is a safety device and, in many cases, the final safeguarding measure. The valve must be maintained and kept operating at all times and under all circumstances.
The construction sector in UK reaches every corner of the nation. It is a fundamental pillar of the economy as the nation invests in its future. For building homes, hospitals, schools, factories, offices, and energy infrastructure that keeps the industry running. The UK's manufacturing industry will represent more than £600 billion in the next decade, including around £44 billion for housing. The rapid growth of the construction sector with the rising number of government-funded projects in the sector will surge the demand for pressure relief valves in the construction processes, which will drive the market growth in the Europe region.
The Germany market dominated the Europe Pressure Relief Valves Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $330.8 million by 2028. The UK market is anticipated to grow at a CAGR of 3.5% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 5.1% during (2022 - 2028).
Based on Pressure, the market is segmented into Low, Medium and High. Based on End User, the market is segmented into Power Generation, Manufacturing, Oil & Gas, Water & Wastewater, Chemical and Food & Beverages. Based on Type, the market is segmented into Spring Loaded, Pilot Operated, Dead Weight and P & T Actuated. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Pressure Relief Valves Market will Hit $5.5 Billion by 2028, at a CAGR of 4.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company, Emerson Electric Co., The Weir Group PLC, Curtis-Wright Corporation, IMI PLC, Watts Water Technologies, Inc., Alfa Laval AB, AGF Manufacturing, Inc., Mercury Manufacturing Company Ltd., and Goetze KG Armaturen.
By Pressure
By End User
By Type
By Country
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