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Burgeoning Power & Energy and Oil & Gas Sectors Opening

7 months ago
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Burgeoning Power & Energy and Oil & Gas Sectors Opening
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United States, Rockville MD, July 07, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global pressure pilot market is estimated at US$ 1.23 billion in 2022 and is expected to expand at an impressive CAGR of 6.1% during the forecast years of 2022-2032. The market is poised to grow due to remarkable use case and safety provided by pressure pilots.

Pressure pilot systems are integrated into pressurised vessels or systems to protect them in the case of an overpressure occurrence. Owing to government standards and safety requirements in critical end-user operations, pressure pilots are in high demand, not just in new installations but also in retrofits.

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Use of pressure pilot systems have increased significantly in the operations of oil & gas and chemical companies for fluid management. In 2020, global revenue of the chemical industry stood at US$ 3.9 trillion. Pressure pilots are a crucial piece of equipment in the chemical industry. As such, growth of the chemical industry is directly proportional to the demand growth of pressure pilots.

For more insights into the Market, Get A Sample of this Report!

https://www.factmr.com/connectus/sample?flag=S&rep_id=7527

Key Takeaways from Market Study

  • The global pressure pilot market is projected to expand at an impressive CAGR of 6.1% and be valued at US$ 2.22 billion by 2032.
  • The market witnessed 0.6% CAGR for the period of 2017-2021.
  • Under type, spring-loaded pressure pilots dominate the market and are valued at US$ 925.6 million in 2022.
  • Europe dominated the market with 27% market share in 2021.
  • Together, the oil & gas and chemical industries are likely to represent 40.4% market share in 2022.
  • Based on region, demand for pressure pilots is expected to increase at CAGRs of 4.7% and 7.8%, respectively, in Europe and South Asia & Oceania.

Market Development

The business environment in the pressure pilot valves market continues to reflect a rollup within the industry despite difficult economic conditions. To gain a solid hold in the market, prominent manufacturers are employing organic and non-organic strategies, such as the acquisition of Flow Safe by Dresser Natural Gas Solutions.

Furthermore, market players are taking efforts to increase their customer base by focusing on diverse end-users as well as regions. Moreover, market participants are focusing on expanding their product offerings by making R&D investments to offer advanced and smart products.

For Comprehensive Insights Ask An Analyst Here

https://www.factmr.com/connectus/sample?flag=AE&rep_id=7527

Competitive Landscape

Prominent pressure pilot manufacturers are 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.

Moreover, expertise and professionalism in planning, designing, and providing optimal pressure control solutions are at the backbone of their marketing strategies.

  • In Jan. 2021, The ASCO 141 series advanced redundant control system (ARCS) from Emerson was designed to come up with a solution for a range of emergency failures in valve applications in the oil & gas, chemical, power & energy industries.
  • In Nov. 2020, Flow Safe, a manufacturer of pilot-operated and spring-operated pressure relief devices, was acquired by Dresser Natural Gas Solutions, a manufacturer of instrumentation, electronics, measurement, and distribution repair equipment for the gas utility market.
  • In May 2020, Baker Hughes released off-the-shelf conversion kits to upgrade to higher-performing pilot-operated pressure relief valves from API 526 direct spring safety relief valves.

Segmentation of Pressure Pilot Industry Research

  • by Type :
    • Spring-loaded Pressure Pilots
    • Air-loaded Pressure Pilots
  • by Operation :
    • Relief Valves
    • Pressure Reduction Valves
  • by Pressure Range :
    • Less than 250 psi
    • 250-500 psi
    • 500-1000 psi
    • 1000-2000 psi
    • Above 2000 psi
  • by Sales :
  • by Application :
    • Oil & Gas
    • Chemicals
    • Power & Energy
    • Pharmaceuticals
    • Food & Beverages
    • Plastics & Materials
    • Industrial Manufacturing
    • Others
  • by Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

Get Customization on this Report for Specific Research Solutions

https://www.factmr.com/connectus/sample?flag=RC&rep_id=7527

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global pressure pilot market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of type (spring-loaded, air-loaded), operation (relief valves, pressure reduction 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 & beverages, plastics & materials, industrial manufacturing, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

Fact.MR’s Domain Knowledge in Industrial Goods Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs

With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.

Explore More Industrial Goods Division Reports:

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About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

Mahendra Singh

US Sales Office:

11140 Rockville Pike

Suite 400

Rockville, MD 20852

Email: sales@factmr.com

Tel: +1 (628) 251-1583



www.globenewswire.com

Tags: BurgeoningEnergyFACT.MRGasoilOpeningPowerPressure Pilot DemandPressure Pilot ManufacturersPressure Pilot MarketSales of Pressure Pilotsectors
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