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MELBOURNE, AUSTRALIA, January 7, 2021 /EINPresswire.com/ — Pressure relief valves emit pressure from pressurized vessels on force exertion. Pressure relief valves are used to ensure proper functioning of a system when the pressure is not in use. These valves help in letting out the pressure from the systems thereby maintaining smooth performance of the systems. Pressure relief valves are mainly of two typespilot operated and direct operated. Pilot operated pressure relief valves are mechanically operated with the help of a wheel or a crank. The operator opens the valve on a notification given out by the system stating unacceptable pressure levels.
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The primary factor that drives the need for the global pilot operated pressure relief valves market is the significant growth of chemical and oil & gas industry. Growth in industrialization wherein, companies set up new units, relocate, or expand their manufacturing plants is expected to boost the demand for the market. However, installation of pilot operated pressure relief valves incurs heavy costs along with small parts in the valves being sensitive to contaminant particles restrain the growth of the market during the forecast period.
The global pilot operated pressure relief valves market is segmented on the basis of product type, end-user industry, and geography. On the basis of product type, the market is classified into high pressure valve, medium pressure valve, and low-pressure valve. Based on end-user industry, the market is categorized into oil & gas, chemical, power, textile, pharmaceutical, food & beverage, plastic, and others (paper & pulp, leather). By geography, the market is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
The key players operating in the market are Alfa Laval AB, Conbarco industries, Curtiss Wright corp., Flow Safe Inc., GE Co., Goetze KG Armaturen, IMI Plc, LESSER GmbH & Co. KG, Pentair Ltd., and Velan Inc.
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The study provides an in-depth analysis of the global pilot operated pressure relief valves industry and current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restrains, and opportunities is provided.
Porters Five Forces analysis illustrates the potency of buyers & suppliers operating in the industry.
The quantitative analysis of the market from 2017 to 2023 is provided to determine the market potential.
Source: EIN Presswire