A relief valve is a safety valve used to control or limit pressure in a system. If pressure were not managed or limited, it could build up and cause a process upset, instrument or equipment failure, or fire. The pressurized fluid is allowed to exit the system via an auxiliary path, which reduces pressure. The relief valve is meant to open or is programmed to do so at a predetermined set pressure to prevent pressure vessels and other equipment from operating beyond their design parameters. A portion of the fluid is pushed to flow via the auxiliary channel because it is the "path of least resistance" when the predetermined pressure is exceeded, forcing the relief valve to open.

PRVs are necessary for nuclear power plants to run safely and efficiently. They help to preserve turbines, boilers, and superheaters while supporting stations' efficient operation at predetermined pressures. Additionally, PRVs are necessary for industrial processes, such as additive manufacturing, which is increasing in popularity. There is a growing demand for valve replacements, but because of the high price of PRV production, market growth is likely to be constrained in the short term. Continuous performance monitoring is needed to ensure that valves are still functioning properly in difficult industrial environments.

Pressure relief valves are a type of product that is used to prevent pressure from building up in a system. The global lockdown brought on by the COVID-19 pandemic has had an effect on the market for pressure relief valves, constraining the growth of the industry. However, it is projected that the market will revive strongly when global manufacturing activity reaches critical levels.

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ALFA Laval AB, Baker Hughes, CIRCOR International Inc., Curtiss-Wright Corporation, Emerson Electric Co., IMI plc, Mercer Valve Co. Inc., Parker Hannifin Corp., Rexnord Corporation, The Weir Group plc, Watts.

By Product Type: Based on the Product Type, Global Pressure Relief Valves Market is segmented as; Spring Loaded Pressure Relief Valves, Pilot operated Pressure Relief Valves, Dead Weight Pressure Relief Valves, P&T Actuated Pressure Relief Valves.

By Set Pressure: Based on the Set Pressure, Global Pressure Relief Valves Market is segmented as; Low Pressure Relief Valves, Medium Pressure Relief Valves, High Pressure Relief Valves.

By End User: Based on the End User, Global Pressure Relief Valves Market is segmented as; Pressure Relief Valves for Oil & Gas (Upstream, Midstream, Downstream), Pressure Relief Valves Chemical Processing, Pressure Relief Valves Power Generation, Pressure Relief Valves Paper & Pulp, Pressure Relief Valves Food & Beverages, Pressure Relief Valves Pharmaceuticals, Others.

By Region: Based on geography, The Global Pressure Relief Valves Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Due to rising tariffs in North America, mainly in the United States, the price of valves has increased recently on a global scale. Major American and European companies have locations in both high- and low-income nations. While labor-intensive production processes like making rough castings for valves and valve components are carried out in low-cost manufacturing nations like China, design, R&D, and testing are done in the United States and Europe. As a result, OEMs can enjoy lower prices while maintaining quality. The unstable markets in Asia Pacific will have a significant and direct influence on manufacturing firms. The operational expenses of manufacturing operations would be directly impacted by the increasing cost of raw materials and tariffs used to produce valves, which is a key concern for manufacturers.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.