Press release
Butterfly Valve Market Trends, Top Companies, Key Segments and Forecast by 2025
Butterfly Valve Market
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.
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Top Companies
Emerson Electric Co., Flowserve Corporation, Cameron, Alfa-Laval Corporate AB, AVK Group, Crane Co., Weir Group, Curtiss-Wright Corporation, KSB Group, and Velan Inc.
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.
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Growing demand from the oil & gas industry, a surge in the use of power in industrial processes, and an increased need for automation in process industries drive the market growth. However, a high level of competition from local players and the possibility of choking and cavitation impede market growth. On the other hand, growing demand for industrial infrastructure and untapped potential in emerging economies create new opportunities in the 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.
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