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Butterfly Valves Market Trends, Top Companies, Share, Growth And Forecast 2033
Butterfly Valves Market
As per the report, 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 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%.
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Surging Oil And Gas Industry Demand Drives Growth In The Butterfly Valve Market
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.
Butterfly Valve Market Witnesses Growth Through Cutting-Edge Solutions
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 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
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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, Cargil Inc.
Contents of the report:
1. Executive Summary
2. Butterfly Valves Market Report Structure
3. Butterfly Valves Market Trends And Strategies
4. Butterfly Valves Market - Macro Economic Scenario
5. Butterfly Valves Market Size And Growth
…..
27. Butterfly Valves Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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