ARC Advisory Group’s research on the Pressure Relief Valves and Devices Market reveals that the ongoing digitalization trend is expected to generate higher sales for pressure relief valves (PRV) and accompanying smart remote monitoring devices, in both new construction projects and retrofits. With the increasing emphasis on the digitalization of assets in the process industries, valve suppliers, automation companies, and OT providers are working towards digitalizing valve assets for condition monitoring and predictive maintenance. Different types of active PRV operations management solutions are being offered in the current market. PRV digitalization and operations management is expected to continue gaining traction amongst end users over the forecast period of this report.
"End users are looking for features such as continuous asset monitoring, early fault alert, and storage of diagnostic data in their valves. Digitalization of pressure relief valve operations will aid end users in significantly reducing pressure relief valve malfunctions and effectively limiting the total carbon emission of the plant. This may be achieved by connecting an existing conventional pressure relief valve with a complementing smart device for real-time monitoring and alarm management," according to Saket Kumar Mishra, Analyst and key author of ARC's Pressure Relief Valves and Devices Market Research Report.
Pressure Relief Valves and Devices Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- Industrial 5G
- Increasing Emphasis on Digitalization
- Increasing Acceptance of Outsourcing Maintenance
- Improving Local Presence
- Improve Safety and Productivity
- Batteries to Power Wireless Devices
- Adoption of Industrial IoT
Leading Suppliers to the Pressure Relief Valves and Devices Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Baker Hughes, CASC H11, Curtiss- Wright, Emerson Automation Solutions, and Leser GmbH.
About the Pressure Relief Valves and Devices Research
The Pressure Relief Valves and Devices report explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts. The report segmentation includes Revenue Category, Sales Channel, World Region, Industry, Customer Type, Application, Component, Overall Scope, and Valves by Type.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include:
- Market Intelligence Workbook (Excel Power Pivot): A standard Workbook includes the base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF): This wide-screen presentation format makes it much easier to find detailed information on a market. This new format provides executives, business unit managers, and other authorized users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.
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