(MENAFN- EIN Presswire)
Butterfly Valves market industry Overview, supply chain and Forecast 2025
WILMINGTON, DELAWARE, UNITED STATES, August 30, 2024 /EINPresswire / -- Demands Driving Factors:
Increase in demand from oil & gas industry majorly drives the growth of the butterfly valves market owing to the requirement of stainless steel butterfly valves from the oil & gas industry. Moreover, increase in demand for butterfly valves in developing regions, due to rapid industrialization is expected to boost the market growth.
Furthermore, butterfly valves are used in every process ranging from the extraction of crude oil &gas till it reaches the end customers via refinery and oil terminals and depots. Therefore, increase in investment in oil & gas industry in emerging economies is expected to provide lucrative opportunities to the valve manufacturers in these regions.
However, rise in competition from domestic butterfly valve manufacturers and high possibility of cavitation & chock in valve system is expected to hinder the growth of the butterfly valves market.
Download Sample PDF:
Butterfly valve (also known as quarter turn valve) is a shut-off valve used to isolate and control the flow of fluid and gases in various industrial applications. It is also known as quarter turn valve. The simple structure of butterfly valve includes a disk placed in middle of a pipe and swivels sideways or on uprights which starts and stops the fluid flow. Furthermore, these valves are economical, consume less space, and lightweight as compared to other valves.
The butterfly valves market size was valued at $8,282.61 million in 2017, and is projected to reach at $13,667.0 million by 2025, growing at a CAGR of 6.3% from 2018 to 2025. Asia-Pacific is expected to be the leading contributor to the global butterfly valves market, followed by Europe and North America.
Enquire Before Buying:
Top Impacting Factors:
The high-performance butterfly valves segment accounted for the maximum revenue share in 2017 and is expected to generate maximum revenue during the forecast period in the global butterfly valves industry, as they provide higher productivity and superior speed.
Moreover, these high-performance valves comprise of double offset and triple offset butterfly valves. Some operational features of these valves including improved rigidity & strength and high efficiency also increase the demand for butterfly valves.
The butterfly valves market trends used for on/off application have more demand as compared to control application. This segment secured approximately 78.0% share in global market. Furthermore, new installations secured 88% share where replacement secures 12% share in the on/off butterfly valves market.
The eccentric butterfly valves segment is expected to witness fastest growth rate during the forecast period, owing to high demand for triple offset valves. Based on the industry verticals, oil & gas industry segment is expected to secure maximum market share and water & wastewater segment is expected to grow at the highest CAGR of 9.4% during the forecast period.
Top Players:
The key players profiled in the report include Emerson Electric Co., Flowserve Corporation, Cameron, Alfa-Laval Corporate AB, AVK Group, Crane Co., Weir Group, Curtiss-Wright Corporation, KSB Group, and Velan Inc. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the butterfly valves market.
Request For Customization:
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
David Correa
Allied Market Research
+15038946022 ext.
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN30082024003118003196ID1108619828
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.