Butterfly valve Market Size, Trends, Opportunities, Innovations & Forecast till 2025
According to a new report published by KD
Market Insights, titled, "Butterfly
Valves Market by
Type, Mechanism, Function, and End User: Global Opportunity Analysis and
Industry Forecast, 2018–2025," 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.
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.
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.
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.
Asia-Pacific accounted for a major share of
the global butterfly valves market in 2017 and is expected to dominate the
market in terms of revenue during the forecast period, owing rapid urbanization
& industrialization, and increase in investment in oil & gas and power
generation industries. The Europe region holds the second largest share in the
global butterfly valves market.
Key Findings Of The Study
- In 2017, the high-performance butterfly
valves segment accounted for the maximum revenue and is projected to grow at a
notable CAGR of 6.8% during the forecast period.
- The eccentric valves segment accounted for more than 50.0 % of the butterfly valves market share in 2017.
- Oil & gas industry contributed major share of 39% in global butterfly valves market during 2017.
- China was the major shareholder in the Asia-Pacific butterfly valves market, accounting for more than 40.0% share in 2017.
- The eccentric valves segment accounted for more than 50.0 % of the butterfly valves market share in 2017.
- Oil & gas industry contributed major share of 39% in global butterfly valves market during 2017.
- China was the major shareholder in the Asia-Pacific butterfly valves market, accounting for more than 40.0% share in 2017.
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.
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