The Butterfly Valves Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Butterfly Valves Global Market Report 2024, The butterfly valves market size has grown strongly in recent years. It will grow from $10.47 billion in 2023 to $11.18 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to industrialization and infrastructure development, focus on energy efficiency, increased adoption in hvac systems, globalization of trade, fire protection systems, rise in mining and metals sector.
The butterfly valves market size is expected to see strong growth in the next few years. It will grow to $14.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing focus on water security, expansion of renewable energy, demand for low-maintenance valves, advancements in material sciences, hydraulic fracturing in oil and gas, focus on emission reduction in industries.. Major trends in the forecast period include advancements in valve technologies, increasing emphasis on automation, adoption of triple offset butterfly valves, customization and tailored solutions, market consolidation and strategic partnerships.
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. As a result, the butterfly valve market is expanding due to the rising demand from the oil and gas industry.
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The butterfly valves market covered in this report is segmented –
1) By Type: High-Performance Butterfly Valves, Lined Butterfly Valves
2) By Mechanism: Centric Valves (Zero Offset Butterfly Valves), Eccentric Valves
3) By Function: On/Off Valves, Control Valves
4) By End User: Oil And Gas, Electric Power, Water And Wastewater, Chemical, Other End Users
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.
The butterfly valves market report table of contents includes:
1. Executive Summary
2. Butterfly Valves Market Characteristics
3. Butterfly Valves Market Trends And Strategies
4. Butterfly Valves Market – Macro Economic Scenario
5. Global Butterfly Valves Market Size and Growth
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26. South America Butterfly Valves Market
27. Brazil Butterfly Valves Market
28. Middle East Butterfly Valves Market
29. Africa Butterfly Valves Market 30. Butterfly Valves Market Competitive Landscape And Company Profiles
Top Major Players:
- Emerson Electric Co.
- Flowserve Corporation
- Alfa Laval AB
- AVK Holding A/S
- Crane Co
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