PUBLISHER: The Business Research Company | PRODUCT CODE: 1425306
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425306
Butterfly Valves Global Market Report 2024 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.
Butterfly valves represent a category of quarter-turn rotational motion devices characterized by a rotating curved surface or a pair of hinged semicircular plates connected by a transverse spindle and situated within a pipe.
There are two main types of butterfly valves such as high-performance butterfly valves and lined butterfly valves. A high-performance butterfly valve is a specific type of valve where the stem is offset from the center of the disc rather than being collinear with it. These valves serve purposes such as shutoff and throttling control. They come in both centric and eccentric mechanizations and find applications as on and off valves and control valves in various industries, including oil and gas, electric power, water and wastewater, chemicals, and other sectors.
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.
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 expansion observed in the historical period can be ascribed to the processes of industrialization and infrastructure development. There was a notable emphasis on energy efficiency during this period, coupled with a heightened adoption of these advancements in HVAC systems. The globalization of trade played a pivotal role in driving growth, along with increased attention to fire protection systems. Furthermore, the surge in the mining and metals sector significantly contributed to the overall growth during this historical timeframe.
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 anticipated growth in the forecast period is driven by a heightened emphasis on water security, the expanding scope of renewable energy initiatives, a rising demand for low-maintenance valves, progress in material sciences, the proliferation of hydraulic fracturing in the oil and gas sector, and a concerted focus on emission reduction within industries. Key trends expected in the forecast period encompass advancements in valve technologies, a growing emphasis on automation, the adoption of triple offset butterfly valves, a preference for customization and tailored solutions, and an observable trend toward market consolidation and strategic partnerships.
The butterfly valve market is poised for growth due to increased demand from the oil and gas industry. Valves are integral to the oil and gas sector, playing a crucial role in piping systems for flow control, equipment isolation, and directing crude oil processing. With the anticipated rise in oil and gas upstream and downstream activities, as highlighted in the March 2021 Oil 2021 report by the International Energy Agency, global oil consumption is expected to reach 104.1 mb/d by 2026. This surge in demand within the oil and gas industry is a significant driver for the expansion of the butterfly valve market.
The butterfly valves market is expected to experience growth propelled by the escalating instances of wastewater. Wastewater, generated from diverse applications and processes, necessitates effective flow regulation, especially in large-diameter pipes within wastewater treatment facilities. Butterfly valves emerge as a cost-effective solution for regulating flow and controlling wastewater movement during the treatment process. Notably, in May 2022, ReliefWeb reported a global production of 380 billion m3 of municipal wastewater annually, with projections indicating a 24% increase by 2030 and a 51% rise by 2050. This upsurge in wastewater instances is a key factor contributing to the growth of the butterfly valves market.
A notable trend in the butterfly valves market is the emphasis on product innovation by major industry players. Companies are investing in the development of innovative solutions to strengthen their market positions. For instance, in October 2021, Valves Online Limited introduced a jacketed hygienic butterfly valve addressing common challenges in the confectionery industry. The Warmflow design, utilizing the butterfly valve principle, features an enclosed jacket that prevents the valve from warming, ensuring the free flow of products without solidification. The success of this innovation in food factories across the United Kingdom underscores its efficiency in reducing time and costs.
Companies in the butterfly valves market are strategically introducing sustainable solutions with advanced technological features to gain a competitive advantage. These solutions aim to enhance flow control, increase efficiency, and promote sustainability across various industries. In June 2021, Neles Oyj launched a versatile butterfly valve product range, offering improved process efficiency and minimized environmental impact. The modular butterfly valve range enables diverse configurations, providing dependable solutions for applications such as corrosive media, abrasive service valves, and high-purity gas handling.
In March 2021, McWane Plant & Industrial (MPI) made a strategic move by acquiring Tri-Seal Valve Line, a US-based manufacturer of industrial butterfly valves, for an undisclosed amount. This acquisition reinforces MPI's product line for industrial fluid control applications, augmenting their existing portfolio of Kennedy Valve, Waterman, and Clearwater manufacturing products. The acquisition of Tri-Seal Valve Line contributes to MPI's positioning in the competitive landscape of industrial fluid control.
Major companies operating in the butterfly valves market report are Emerson Electric Co., Flowserve Corporation, Alfa Laval AB, AVK Holding A/S, Crane Co., Bray International Inc., Conbraco Industries Inc., Milwaukee Valve Company Inc., Anvil International LLC, Hayward Industries Inc., NIBCO Inc., Valworx Inc., Curtiss-Wright Corporation, ASEPCO, Schlumberger Limited, XHVAL Industrial Valve Manufacturing Co. Ltd., Huamei Machinery Limited, Flexachem Manufacturing Ltd., Valmet Corporation, Thermoplastic Valves Inc., PR Valves LLC, Lumaco Sanitary Valves, Centec LLC, Erdmann Corporation, World Wide Metric Inc., Jamieson Equipment Co. Inc., Cipriani Harrison Valves Corp., Xylem Inc., Ryan Herco Flow Solutions, and Cargil Inc.
Asia-Pacific was the largest region in the butterfly valves market share in 2023. The regions covered in the butterfly valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the butterfly valves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
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.