Press release
Butterfly Valves Market Scope, Product Estimates & Strategy Framework of leading Players- Cameron, Crane Co., Weir Group, KSB Group, Velan Inc.
Butterfly Valves Market
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.
Based on motor type, the high-performance butterfly valve segment held the major market share in 2017, accounting for nearly two-thirds of the total revenue. This segment is estimated to register the fastest CAGR of 6.8% from 2018 to 2025, owing to flow path, high capacity, and ability offered by them to pass solid & viscous media. The research also analyzes the lined butterfly valve segment.
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On the basis of end user, the oil & gas industry accounted for nearly two-fifths of the total share in 2017 and will maintain its lead position throughout the forecast period. This is attributed to rise in demand for the upstream exploration, midstream transmission, and downstream refining. However, the water & waste water segment would grow at the highest CAGR of 9.3% from 2018 to 2025, owing to rise in adoption for transportation through pipelines, desalination projects, treatment in different processing industries, and water treatment factories. The report also explores electric power, chemical, and other end users.
Asia-Pacific accounted for more than one-third of the total market share in terms of revenue in 2017 and will maintain its leadership status by 2025. In addition, the region would register the highest CAGR of 7.5% during the forecast period. This is a lucrative region, owing to surge in adoption of pipeline transportation and power projects in major economies such as India, Japan, and China. The report also analyzes regions including North America, Europe, and LAMEA.
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The key market players analyzed in the research include Emerson Electric Co., Cameron, Flowserve Corporation, AVK Group, Alfa-Laval Corporate AB, Weir Group, Crane Co., KSB Group, Curtiss-Wright Corporation, and Velan Inc.
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