Press release
Soaring Demand Set to Propel Butterfly Valves Market to $15.03 Billion by 2029
Butterfly Valves Market
What Is the Expected CAGR for the Butterfly Valves Market Through 2025?
In recent times, the market size of butterfly valves has seen consistent growth. The market is set to expand from $11.1 billion in 2024 to $11.64 billion in 2025, representing a compound annual growth rate (CAGR) of 4.9%. Factors contributing to the growth during the historical period include industrialization and development of infrastructure, a focus on energy efficiency, greater use in HVAC systems, the globalization of trade, fire safety systems, and an upturn in the mining and metals sector.
What's the Projected Size of the Global Butterfly Valves Market by 2029?
In the coming years, the butterfly valves market is predicted to experience significant growth. The projection indicates a rise to $15.03 billion by 2029, with a CAGR of 6.6%. This anticipated growth during the forecast period is linked to factors like increased attention to water security, development of renewable energy, demand for valves that require lesser maintenance, progress in material sciences, utilisation of hydraulic fracturing in oil and gas and emphasis on decreasing emissions in various industries. The upcoming period will also see key trends such as enhanced valve technologies, accentuated focus on automation, increased adoption of triple offset butterfly valves, a rise in customisation and tailored solutions, and market consolidation via strategic partnerships.
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Top Growth Drivers in the Butterfly Valves Industry: What's Accelerating the Market?
The surge in the need for butterfly valves emanating from the oil and gas sector is predicted to boost the butterfly valve market. The critical part in every pipework system in the oil and gas industry is played by valves, as they control flow rates, separate and safeguard equipment, and manage the crude oil processing. The escalation in oil and gas upstream and downstream activities is poised to augment the valve demand. For example, the International Energy Agency (IEA) oil, an intergovernmental organization based in France, noted an increase of 800,000 barrels per day (kb/d) in worldwide oil demand during the first half of 2023. This increase was lower than the anticipated growth of 2.3 million barrels per day (mb/d) for 2023. However, demand is projected to scale up by 900 kb/d in 2024 and by 950 kb/d in 2025. Hence, the butterfly valve market is witnessing growth, fueled by the escalating demand from the oil and gas sector.
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What Trends Will Shape the Butterfly Valves Market Through 2029 and Beyond?
Key players in the butterfly valves market are prioritizing the creation of novel solutions such as double-offset butterfly valves, aiming to boost productivity and effectiveness. This type of butterfly valve has a design where the shaft is off-center from both the valve body and the disc. This was exemplified when Kingdom Flow Control Co., a UK-based industrial equipment manufacturer and exporter, introduced double offset butterfly valves in August 2024. These valves possess a special stem and disc design that lessens seat wear, decreases torque, and prolongs the service lifespan. They are appropriate for both shut-off and regulation functions, providing bi-directional sealing performance and reduced operational torque. These valves also comprise adjustable live-loaded stem sealing, an anti-static approach, an anti-blowout stem for improved safety measures, frictionless operation, and simplified seat replacement maintenance.
What Are the Main Segments in the Butterfly Valves Market?
The butterfly valvesmarket 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 Or Off Valves, Control Valves
4) By End User: Oil And Gas, Electric Power, Water And Wastewater, Chemical, Other End Users
Subsegments:
1) By High-Performance Butterfly Valves: Double Offset Butterfly Valves, Triple Offset Butterfly Valves
2) By Lined Butterfly Valves: PTFE Lined Butterfly Valves, Rubber Lined Butterfly Valves
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Which Top Companies are Driving Growth in the Butterfly Valves Market?
Major companies operating in the butterfly valves market 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.
Which Regions Will Dominate the Butterfly Valves Market Through 2029?
Asia-Pacific was the largest region in the butterfly valves market share in 2024. The regions covered in the butterfly valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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