Butterfly Valves Market Trends, Competitive Analysis Report, Revenue Growth, Forecast By 2032
Research Reports
Jul 24, 2024
Butterfly Valves Market Analysis:
The study documents by MRFR state that the Butterfly Valves Market Research Report Information by Application, Type, and Region – Forecast Till 2032, the Butterfly Valves Market Size is projected to grow from USD 11.65 Billion in 2023 to USD 19.871 Billion by 2032, with CAGR of 6.90% during the forecast period (2024 – 2032).
The oil and gas sector is a major driver due to the high demand for valves with tight shutoff, high-pressure handling capacity, and low installation cost. The rise in oil and gas exploration and production activities is boosting the demand for butterfly valves?.
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Competitive Analysis
Weir Group
Emerson Electric Co.
Flowserve Corporation
AVK Group
Cameron
Alfa-Laval Corporate AB
Crane Co.
Curtiss-Wright Corporation
KSB Group
Velan Inc.
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Market Drivers
Industrial Growth: Increased industrial activities, particularly in sectors such as oil and gas, water and wastewater management, and chemical processing, drive demand for butterfly valves due to their efficiency in regulating flow.
Infrastructure Development: Growth in infrastructure projects, including water supply, wastewater treatment facilities, and construction, contributes to the demand for butterfly valves.
Energy Sector Demand: The need for efficient flow control in energy sectors, including power generation and renewable energy projects, boosts the market for butterfly valves.
Technological Advancements: Innovations in valve technology, such as improvements in materials and automation, enhance the performance and appeal of butterfly valves.
Aerospace and Defense: The aerospace and defense sectors require high-performance butterfly valves for various applications, driving market growth.
Urbanization and Population Growth: Rising urbanization and population growth lead to increased demand for infrastructure and utilities, which in turn drives the need for butterfly valves.
Regional Analysis
North America, led by the United States and Canada, exhibits steady growth due to ongoing investments in oil and gas pipelines and the power generation sector. The region’s focus on maintaining and upgrading its existing industrial infrastructure plays a crucial role in sustaining the butterfly valves market.
Asia Pacific is the dominant region in the butterfly valves market, driven by significant demand in countries like China, Japan, and India. The growth in this region is primarily due to the increasing need for water treatment facilities, a rise in oil and gas activities, and the expansion of chemical plants. The region’s robust industrialization, coupled with rising energy demand, further fuels the market.
Europe is another significant market, benefiting from the renovation and retrofitting of old infrastructure, particularly in the water treatment and oil and gas sectors. Countries like Germany, France, and the UK are investing heavily in upgrading their industrial capabilities, which drives the demand for advanced butterfly valves.
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Segment Analysis
Butterfly Valves Type – High Performance Butterfly Valves, Lined Butterfly Valves
Butterfly Valves Mechanism – Centric Butterfly Valves, Eccentric Butterfly Valves
Butterfly Valves End User – Oil & Gas, Electric Power, Water & Wastewater, Chemical, Other Industries
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