ARC Advisory Group’s new research reveals that the ongoing efforts toward limiting fugitive emissions from process industries are expected to generate higher sales for pressure relief valves and devices as well as the accompanying smart remote monitoring devices, in both new construction projects and upgrades. With the increasing emphasis on emission reduction in the process industries, valve suppliers, automation companies, and OT providers are working toward digitalizing valve assets in efforts to meet their ESG commitments and meet increasingly stringent regulatory requirements. Government incentives, including the Inflation Reduction Act in the US, are additional drivers to market growth.
"Governments around the world are enforcing strict regulations to limit fugitive emissions from process industries. As leakage from valves is a major source of fugitive emissions from industrial plants, end users are now looking for highly efficient valves with minimum emission levels. To comply with the strict regulations, several end users are in the process of upgrading old assets with high-quality certified valves to lower emissions and ensure reliable operation," according to Vidya Prasad, Senior Analyst and key author of ARC's Pressure Relief Valves and Devices Market Research.
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:
- Adoption of Industrial IoT
- Batteries to Power Wireless Devices
- Improve Safety and Productivity
- Improving Local Presence
- Increasing Acceptance of Outsourcing Maintenance
- Increasing Emphasis on Digitalization
- Industrial 5G
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, Beijing Aerospace Petrochemical, Curtiss-Wright, Emerson Automation Solutions, Leser GmbH.
About the Pressure Relief Valves and Devices Research
The Pressure Relief Valves and Devices research 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, five-year market forecasts, and one year of historical analysis. The research segmentation includes Overall Scope, World Region, Valves by Type, Sales Channel, Revenue Category, Industry, Customer Type, Component, Application.
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