PUBLISHER: The Business Research Company | PRODUCT CODE: 1270433
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270433
“Butterfly Valves Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on butterfly valves market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for butterfly valves ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The butterfly valves market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the butterfly valves market are Emerson Electric Co., Flowserve Corporation, Alfa Laval AB, AVK Group, Crane Holdings, Co., The Weir Group PLC., Velan Inc., Curtiss-Wright Corporation, KSB Group, Cameron International Corporation, Schlumberger Limited, L&T Valves Limited, Bray International Inc., Hobbs Valve, and Dembla Valves Ltd.
The global butterfly valves market is expected to grow from $9.83 billion in 2022 to $10.49 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The butterfly valves market is expected to grow to $13.36 billion in 2027 at a CAGR of 6.2%.
The butterfly valves market consists of sales of rubber lined butterfly valve, plastic lined butterfly valve and metal lined butterfly valves. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Butterfly valves are a group of quarter-turn rotational motion mechanisms comprising a rotating curved surface or a pair of hinged semicircular plates connected by a transverse spindle and placed inside a pipe.
Asia-Pacific was the largest region in the butterfly valves market in 2022. The regions covered in the butterfly valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of butterfly valves are high-performance butterfly valves and lined butterfly valves. A high-performance butterfly valve is a type of valve in which the stem is offset from the disc's center rather than collinear to it. High performance butterfly valves are used for shutoff and throttling control. They are mechanized as centric and eccentric. They are used as on/off valves and control valves by oil and gas, electric power, water and wastewater, chemicals, and other end-users.
The increasing demand for butterfly valves from the oil and gas industry is expected to propel the butterfly valve market. Valves play a vital role in the oil and gas industry since they are an essential part of every piping system. They are employed to control flow rates, segregate and secure equipment, and direct the processing of crude oil. The increasing oil and gas upstream and downstream activities will lead to an increase in demand for valves. For instance, in March 2021, according to the Oil 2021 report released by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, global oil consumption is anticipated to reach 104.1 mb/d by 2026. This will imply an increase of 4.4 mb/d from 2019 levels. As a result, the butterfly valve market is expanding due to the rising demand from the oil and gas industry.
Product innovation is a key trend gaining popularity in the butterfly valves market. Major companies operating in the butterfly valve market are focused on developing innovative solutions to strengthen their position in the market. For instance, in October 2021, Valves Online Limited, a UK-based industrial equipment supplier, launched an innovative, jacketed hygienic butterfly valve that solves reoccurring problems commonly found in the confectionery industry. The Warmflow design involves the butterfly valve principle, which is then enclosed with a jacket that allows a heating medium into the jacket and is separated from the valve and the process line. This prevents the valve from warming, allowing the product to flow freely without solidifying. The valve has been installed in food factories all around the United Kingdom and has undergone rigorous testing with a success rate of 100%, leading to efficient lines that reduce time and costs.
In March 2021, McWane Plant & Industrial (MPI), a US-based producer of valves, gates, pipes, and fittings, acquired Tri-Seal Valve Line for an undisclosed amount. This acquisition strengthens MPI's product line for industrial fluid control applications, enhancing the company's Kennedy Valve, Waterman, and Clearwater manufacturing products. Tri-Seal Valve is a US-based manufacturer of industrial butterfly valves.
The countries covered in the butterfly valves market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The butterfly valves market research report is one of a series of new reports from The Business Research Company that provides butterfly valves market statistics, including butterfly valves industry global market size, regional shares, competitors with a butterfly valves market share, detailed butterfly valves market segments, market trends and opportunities, and any further data you may need to thrive in the butterfly valves industry. This butterfly valves market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.