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. The increasing emphasis on safety across industries, the implementation of strict government regulations, and the introduction of dual-flap blast valves represent some of the key factors driving the market.
Blast valves refer to specialized safety devices designed to protect structures, equipment, and personnel from the effects of explosive events caused by sudden pressure changes. They are manufactured using lightweight, durable, and high-strength materials, such as stainless steel, aluminum, Inconel, titanium, and carbon steel. They are widely used in trains, buses, aircraft, rockets, military vehicles, chemical production, power plants, research laboratories, oil refineries, and manufacturing facilities. Blast valves are cost-effective, durable, and easy-to-install devices that require low maintenance, offer long service life, and can withstand extreme temperature and pressure conditions. They help to enhance workplace safety, prevent equipment damage, improve productivity, and minimize the risk of fire, gas leaks, and explosions. As a result, blast valves find extensive applications across the oil and gas, defense, aerospace, mining, transportation, chemical, and manufacturing industries.
Blast Valves Market Trends:
The rising product utilization due to increasing emphasis on safety across various industries is one of the primary factors providing an impetus to the market growth. Blast valves are highly durable, reliable, and versatile products that are installed in industrial pipes, ducts, storage units, fuel tanks, and other equipment to release excess pressure in a controlled manner, which, in turn, prevents injuries or death, improves workplace safety, and minimizes property damages. In addition to this, the increasing incidence of industrial accidents due to negligence, human errors, and equipment failure is acting as another growth-inducing factor. Furthermore, the implementation of strict government regulations to mandate the installation of blast valves to protect workers and improve safety standards is providing a thrust to the market growth. Additionally, the introduction of dual-flap blast valves that are designed to prevent the backflow of gases and debris that can cause damage to personnel, equipment, and structures is positively influencing the market growth. Apart from this, the rising product application in the oil and gas industry to prevent hazardous incidences in refineries, gas pipelines, oil storage tanks, and offshore platforms are favoring the market growth. Moreover, widespread product utilization in defense and aerospace industries to protect tanks, armored personal carriers, helicopters, aircraft, military bases, and rocket launch facilities from fuel leaks, fires, improvised explosive devices (IEDs), and landmines is propelling the market growth. Other factors, including rapid industrialization activities, increasing investments in the development of advanced products, and the growing awareness regarding the benefits of blast valves, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global blast valves market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and application.
- Galvanized Valve
- Stainless Steel Valve
The report has provided a detailed breakup and analysis of the blast valves market based on the type. This includes galvanized and stainless steel valves. According to the report, stainless steel valve represented the largest segment.
A detailed breakup and analysis of the blast valves market based on the application has also been provided in the report. This includes civil and military. According to the report, civil accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for blast valves. Some of the factors driving the North America blast valves market included rapid industrialization activities, increasing government initiatives, and significant technological advancements.
The report has also provided a comprehensive analysis of the competitive landscape in the global blast valves market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Andair AG, Beth-El Zikhron Yaaqov Industries Ltd., Disaster Bunker, European EMC Products, FUCARE, Halton Group, SagiCofim spa, Temet, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Galvanized Valve, Stainless Steel Valve
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Andair AG, Beth-El Zikhron Yaaqov Industries Ltd., Disaster Bunker, European EMC Products, FUCARE, Halton Group, SagiCofim spa, Temet, etc.
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the blast valves market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global blast valves market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the blast valves industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.