Australian Pressure Safety Valve Market Expected to Reach $65.38 Million, by 2025

According to a new report published by Allied Market Research titled, Australian Pressure Safety Valve Market by Offering, Safety Valve Type, and End-user Industry: Opportunity Analysis and Industry Forecast, 20182025," the Australia pressure safety valve market size was valued at $52.12 million in 2017 and is expected to reach $65.38 million by 2025, registering a CAGR of 2.88% from 2018 to 2025. Oil & gas dominated the Australian pressure safety valve market, accounting for around one-third share of the total revenue.

The Australian pressure safety valve market is majorly driven by an upsurge in the industrial spending in respective end-user industries and an increase in industrial production capabilities. In addition, availability of abundant natural resources and limited demand from the Australian market continue to drive the growth among the Australian end-user industries. All of these are anticipated to drive the market growth during the forecast period. However, the rising technological capabilities in fast-growing economies in South-East Asian countries are expected to hinder the industrial spending and limit the market growth across certain end-user industries in Australia, such as chemicals, textile, construction, and others.

The increase in energy demands from emerging Asian economies continues to drive the production capacities in Australian end-user industries, owing to lucrative export opportunities to Asian countries. In addition, activities, such as services, periodic maintenance, and repairs, of pressure-based systems, machineries, and tools continue to drive the safety valve market at a steady growth rate.

Safety valves have substantial applications in steam boilers, heating boilers, industrial equipment, machinery, and OEM applications across various industry verticals. As a result, on the basis of the end-user industry, the market is broadly classified into oil & gas, power & energy, healthcare & pharmaceutical, water supply system, and others.

Key Findings of the Australian Pressure Safety Valve Market :

• In terms of value, the water supply system segment generated the maximum revenue in 2017 and is expected to grow at a CAGR of 3.51% during the forecast period.
• The pilot operated safety valve segment is anticipated to grow at a CAGR of 3.14% from 2018 to 2025.
• The oil & gas industry is expected to dominate the Australian pressure safety valve market during the forecast period, registering a CAGR of 2.52% in terms of value.

The major players in the global Australian pressure safety valve market have been focusing on new product development to gain a strong foothold in the market. The key players profiled in the report include Emerson Electric Co., Spirax Sarco Pty. Limited., Cebeco, Score Pacific PLC, Callidus Group, LESER, Powerflo Solutions, Mercer Valve Co., Inc., Western Process Controls, Bourke Valves, and others.