Opening of the booming electricity, energy and oil and gas sectors
United States, Rockville MD, 07 Jul. 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global pressure pilot market is estimated to be worth US$1.23 billion in 2022 and is expected to grow at a CAGR impressive 6.1% over the forecast years 2022-2032. The market is poised to grow owing to the remarkable use case and security provided by pressure pilots.
Pressure pilot systems are built into pressurized tanks or systems to protect them in the event of overpressure. Due to government standards and safety requirements in critical end-user operations, pressure pilots are in high demand, not only in new installations, but also in retrofits.
The use of pressure pilot systems has increased dramatically in oil, gas and chemical company operations for fluid management. In 2020, the chemical industry’s global revenue was US$3.9 trillion. Pressure pilots are a crucial piece of equipment in the chemical industry. Thus, the growth of the chemical industry is directly proportional to the growth of the demand for pressure pilots.
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Key insights from market research
- The Global Pressure Pilots Market is anticipated to expand at an impressive CAGR of 6.1% and be valued at USD 2.22 Billion by 2032.
- The market experienced a CAGR of 0.6% for the period 2017-2021.
- Under type, spring pressure pilots dominate the market and are valued at US$925.6 million in 2022.
- Europe led the market with 27% market share in 2021.
- Together, the oil and gas and chemical industries are expected to account for 40.4% market share in 2022.
- Depending on the region, demand for pressure pilots is expected to grow at CAGRs of 4.7% and 7.8%, respectively, in Europe and South Asia & Oceania.
The business environment in the pressure pilot valve market continues to reflect a recovery within the industry despite challenging economic conditions. To gain a strong foothold in the market, leading manufacturers are using both organic and non-organic strategies, such as the acquisition of Flow Safe by Dresser Natural Gas Solutions.
Moreover, market players are striving to increase their customer base by focusing on various end users as well as regions. Moreover, market players are focusing on expanding their product offerings by making R&D investments to offer advanced and smart products.
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Major pressure pilot manufacturers include Alfa Laval AB, Apollo Valves, Baker Hughes Company, Crane Co, Curtiss-Wright Corporation, Emerson Electric Co., Flow Safe, Inc., Flowserve Corp, Forbes Marshall, GE Co., Goetze KG Armaturen, IMI plc, LESER GmbH and Co. KG., Pentair plc, The Weir Group PLC, Valvitalia Group SpA, Velan, Inc. and Watts Water Technologies Inc.
Additionally, expertise and professionalism in planning, designing and delivering optimal pressure control solutions are core to their marketing strategies.
- In January 2021, Emerson’s ASCO 141 Series Advanced Redundant Control System (ARCS) was designed to provide a solution to a range of emergency failures in valve applications in the oil and gas industries, chemicals, electricity and energy.
- In November 2020, Flow Safe, a manufacturer of piloted and spring-loaded pressure relief devices, was acquired by Dresser Natural Gas Solutions, a manufacturer of instrumentation, electronics, measurement and distribution repair equipment for the market gas utilities.
- In May 2020, Baker Hughes released off-the-shelf conversion kits to upgrade to higher performance pilot-operated pressure relief valves from API 526 direct spring-loaded pressure relief valves.
Pressure Drivers Industry Research Segmentation
- by Type :
- Spring pressure pilots
- Air-charged pressure pilots
- by Operation :
- Relief valves
- Pressure reducing valves
- by Pressure range:
- Less than 250psi
- Above 2000 psi
- by Sales:
- by Application :
- petroleum gas
- Chemical products
- Power and energy
- Food and drinks
- Plastics and materials
- Industrial manufacturing
- by Region :
- North America
- Latin America
- East Asia
- South Asia and Oceania
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More valuable information in offer
Fact.MR in its new offering presents an unbiased analysis of the global Pressure Pilots Market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals critical information based on type (spring, air), operation (relief valves, pressure reducing valves), pressure range (less than 250 psi, 250-500 psi, 500-1000 psi, 1000- 2000 psi, above 2000 psi), sales (new installation, retrofit) and application (oil & gas, chemicals, power & energy, pharmaceuticals, food & beverage, plastics & materials, industrial manufacturing, other), in the main regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East and Africa).
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