Blogs
on October 17, 2023
The latest report by IMARC Group, titled “Blast Valves Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global blast valves market size reached US$ 341.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 420.3 Million by 2028, exhibiting a growth rate (CAGR) of 3.42% during 2023-2028.
Blast valves are specifically engineered safety mechanisms designed to safeguard structures, equipment, and individuals against the destructive impacts of explosive incidents, resulting from abrupt shifts in pressure. They separate the hot air stove from the gas burner and are usually made from resilient, lightweight, and robust materials, such as stainless steel, aluminum, Inconel, titanium, and carbon steel. They are widely used in trains, buses, aircraft, rockets, military vehicles, chemical production facilities, power plants, research laboratories, oil refineries, and manufacturing plants. They offer numerous advantages, including affordability, durability, and easy installation, while requiring minimal maintenance and boasting extended operational lifespans. In addition, they are designed to endure extreme temperature and pressure scenarios, improving workplace safety, protecting equipment from damage, enhancing productivity, and reducing the risk of fire outbreaks, gas leaks, and explosive incidents. As a result, blast valves find extensive applications in various sectors such as oil and gas, defense, aerospace, mining, transportation, chemicals, and manufacturing across the globe.
Request Your Sample Report Now: https://www.imarcgroup.com/blast-valves-market/requestsample
Blast Valves Market Trends and Drivers:
The global blast valves market is primarily driven by the growing emphasis on safety across various industries due to the rising awareness about the advantages associated with these durable, reliable, and versatile products. Moreover, the increasing use of blast valves in industrial pipelines, ducts, storage units, fuel tanks, and other equipment to safely release excess pressure in a controlled manner and improve workplace safety by preventing injuries, fatalities, and property damage is positively influencing the market growth. Apart from this, there has been a rise in cases of industrial accidents caused by negligence, human errors, and equipment failures. In line with this, the implementation of stringent government policies mandating the installation of blast valves to protect workers and enhance safety standards has accelerated the product adoption rate. Additionally, the introduction of dual-flap blast valves, which effectively prevent the backflow of gases and debris that can potentially harm personnel, equipment, and structures, has catalyzed the market growth. Besides this, the rising application of blast valves in the oil and gas industry for preventing hazardous incidents in refineries, gas pipelines, oil storage tanks, and offshore platforms, as they play a crucial role in reducing risks associated with fuel leaks and fires, is another major growth-inducing factor. Furthermore, the surging adoption of blast valves in the defense and aerospace sectors to safeguard tanks, armored personal carriers, helicopters, aircraft, military bases, and rocket launch facilities from various threats, including improvised explosive devices (IEDs), landmines, and fuel leaks is contributing to the market growth. Other factors, including increasing investments in developing advanced blast valve products, rising focus on workplace safety, and rapid industrialization, are also anticipated to drive the market further.
Report Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Galvanized Valve
- Stainless Steel Valve
Application Insights:
- Civil
- Military
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Andair AG
- Beth-El Zikhron Yaaqov Industries Ltd.
- Disaster Bunker
- European EMC Products
- FUCARE
- Halton Group
- SagiCofim spa
- Temet
Explore full report with table of contents: https://www.imarcgroup.com/blast-valves-market
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Follow us on Twitter: @imarcglobal
Posted in: Business
Topics:
blast valves market