Butterfly Valves Market Report
RA08418
Butterfly Valves Market by Type (High-performance Butterfly Valves and Lined Butterfly Valves), Application (Centric Valves (Zero Offset Butterfly Valves) and Eccentric Valves), Function Type (On/Off Valves and Control Valves), End-user (Oil & Gas, Electric Power, Water & Wastewater, Chemical, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
Global Butterfly Valves Market Analysis
The global butterfly valves market is predicted to garner $14,108.3 million in the 2021–2028 timeframe, growing from $9,028.1 million in 2020 at a healthy CAGR of 5.9%.
Market Synopsis
Increase in the demand of butterfly valves from the oil & gas industry and growing requirement of larger and deeper pipelines might drive the growth of the butterfly valves market.
However, limitations related to butterfly valves services, like, throttling and choke flow might restrain the market growth during the forecast period.
According to the regional analysis of the market, the Asia-Pacific butterfly valves market is anticipated to grow at a CAGR of 7.2% by generating a revenue of $5,316.2 million during the review period.
Butterfly Valves Overview
Butterfly valves are shut-off valves that are used in many industrial applications to isolate and control the flow of fluids and gases. Quarter turn valve is another name for it. Butterfly valves have a simple form that incorporates a disc in the middle of a pipe that swivels sideways or on uprights to initiate and halt fluid flow. Butterfly valves are available in quarter turn and rotating motion configurations. The valve may be turned a quarter turn from fully open to fully closed, allowing for rapid opening and closing. Butterfly valves are used in industrial settings to isolate and regulate fluid flow. In comparison to other valves, these valves have a basic design, take up less space, and are lightweight. Butterfly valves are also less expensive than other isolation valves.
Impact Analysis of COVID-19 on the Global Butterfly Valves Market
In March 2020, the World Health Organization characterized COVID-19 as a pandemic, which resulted in significant travel restrictions and disruption of financial markets, as well as negatively impacted supply chains and production levels. The pandemic has caused the demand in the commercial aerospace and general industrial end markets to be negatively impacted for the foreseeable future, the extent of which is contingent upon future developments. The COVID-19 pandemic has had a significant influence on economies around the world, as well as butterfly valves market. Despite the fact that the manufacturing of these valves for oil & gas industries is critical, supply chain interruptions have temporarily halted production. The level of COVID-19 exposure a country faces, the level at which manufacturing processes are running, and import-export rules, among other things, all play a role in resuming manufacturing and demand.
Increase in the Demand of Butterfly Valves from the Oil & Gas Industry is Anticipated to Drive the Market Growth
Bigger wells and deeper pipelines are required by the oil and gas sector, which also concentrates on lowering production costs; this mandates the employment of specialized and crucial equipment in oil and gas facilities. Performance standards are growing increasingly severe as transportation, production, and processing equipment and technology advance to enable rising operating efficiencies. Furthermore, the market is predicted to grow due to the expansion of a number of industrial infrastructure projects, an increase in the use of power in industrial processes, and an increase in the need for automation in the process industries. These factors are expected to drive the markets growth during the forecast period.
To know more about global butterfly valves market drivers, get in touch with our analysts here.
Limitations Related to Butterfly Valves Services Might Restrict the Market Growth
The butterfly valve industry's growth is predicted to be hampered by limited throttling, increased competition from local producers, and a significant risk of cavitation and choke flow. Domestic producers in nations like India are increasingly producing a variety of valves that meet global requirements, including severe-service valves. The bulk of field problems with butterfly valves are caused by improper installation practices. Butterfly valve disc movement is unguided and influenced by turbulence. In addition, the high cost of manufacturing industrial valves may have a negative impact on market growth.
Research & Development Activities of Butterfly Valves is Expected to Increase the Opportunities
The oil and gas industry's increased upgrade and exploration efforts appear to bode well for the need for butterfly valves. Emerging regions of the world, such as the Middle East, Africa, and Latin America, could provide a profitable backdrop for the global butterfly valve market, ensuring steady expansion in tandem with the oil and gas boom. The increase of new oil and gas finds in Africa is expected to significantly contribute to global oil supplies. Another reason driving up demand for butterfly valves could be large investments in refineries and pipelines in the oil and gas industry. These factors are expected to provide various opportunities in the butterfly valves market during the forecast period.
To know more about global butterfly valves market opportunities, get in touch with our analysts here.
Global Butterfly Valves Market, by Type
Based on type, the butterfly valves market has been segmented into high-performance butterfly valves and lined butterfly valves of which the high-performance butterfly valves sub-segment is projected to generate the maximum revenue with fastest growth during the forecast period.
Source: Research Dive Analysis
The high-performance butterfly valves sub-segment is predicted to have a dominating market share in the global market and register a revenue of $9,116.8 million during the forecast period growing at a CAGR of 6.4%. Because of the flow path, high capacity, and ability to pass solid and viscous media offered by high-performance butterfly valves, the high-performance butterfly valves segment is expected to be the most lucrative during the projected period.
Global Butterfly Valves Market, by Application Type
On the basis of application type, the market has been bifurcated into centric and eccentric valves. Among the mentioned sub-segments, the centric valve sub-segment is predicted to show the fastest growth and eccentric valves sub-segment is expected to garner a dominant market share.
Source: Research Dive Analysis
The centric sub-segment of the global butterfly valves market is projected to have the fastest growth with a CAGR of 6.3% and it is projected to surpass $5,002.7 million by 2028, with an increase from $3,124.2 million in 2020. Because the seat of the centric butterfly valve is built as a sleeve or cartridge inside the body, the media passing through the valve does not come into touch with the body. Chemicals, coatings, food, certain solids, and abrasive applications are all handled by the zero offset butterfly valve. These factors are anticipated to increase the usage of centric butterfly valves.
The eccentric sub-segment of the global butterfly valves market is projected to have garner highest revenue and reach $9,105.5 million by 2028, with an increase from $5,903.9 million in 2020. The expansion of the eccentric valves market is fueled by a few factors. The recommended flow direction for erosive applications is with the shaft upstream on an eccentric plug valve. In the port or outlet area, high-velocity flow is isolated. The seat ring and retainer can be easily maintained and protected by using erosion-resistant materials. These factors are creating revenue for eccentric butterfly valves sub-segment.
Global Butterfly Valves Market, by Function Type
Based on function type, the market has been divided into on/off valves and control valves sub-segments of which the on/off valves sub-segment is projected to generate the maximum revenue during the forecast period with the highest CAGR.
Source: Research Dive Analysis
The on/off valves sub-segment is predicted to have a dominating market share in the global market and is expected to register a revenue of $11,138.0 million during the forecast period with the highest CAGR of 6.1%. The use of intelligent, dependable on-off valve solutions for general and high-cycle applications helps to lower life-cycle expenses. These valve solutions offer long-term tight shut-off, quick and safe operation, and lower fugitive emissions.
Global Butterfly Valves Market, by End-User Type
On the basis of end-user type, the market has been sub-segmented into oil & gas, electric power, water & wastewater, chemical, and others. Among the mentioned sub-segments, the oil & gas sub-segment is projected to garner a dominant market share.
Source: Research Dive Analysis
The oil & gas system sub-segment is anticipated to have a dominating market share in the global market and register a revenue of $5,638.1 million during the analysis timeframe. The oil and gas business is one of the world's largest industries. As global economies and infrastructure continue to rely significantly on petroleum-based products, the world's dependence on oil and gas is growing. Stainless steel butterfly valves are currently in high demand in the oil and gas industry. When compared to other types of valves, electric stainless-steel butterfly valves are more efficient and provide a greater level of control. Furthermore, the increased usage of shale gas as an energy source is expected to enhance demand for butterfly valves.
Global Butterfly Valves Market, Regional Insights:
The butterfly valves market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for Butterfly Valves in Asia-Pacific to be the Most Dominant
The Asia-Pacific butterfly valves market accounted $3,112.1 million in 2020 and is projected to register a revenue of $5,316.2 million during the forecast period. Expanding energy sources, increasing pipeline transportation usage, increasing oil and gas reserves, increasing infrastructure projects due to fast urbanization and industrialization, and other factors are expected to boost the Asia Pacific butterfly valve market.
Competitive Scenario in the Global Butterfly Valves Market
Product launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading butterfly valves market players are Emerson Electric Co., Flowserve Corporation, Curtiss-Wright Corporation, Cameron International, Alfa-Laval Corporate AB, AVK Group, Crane Co., Weir Group, KSB Group, and Velan Inc.
Porter’s Five Forces Analysis for the Global Butterfly Valves Market:
- Bargaining Power of Suppliers: The suppliers in the butterfly valves market are moderate in number as compared to the buyers. Several companies are working on research and development activities to avoid changing the supplier if there is a hike in the price of a particular material. Thus, there is less threat from the suppliers.
Thus, the bargaining power of the suppliers is moderate. - Bargaining Power of Buyers: Buyers have moderate bargaining power because of the moderate number of market players compared to buyers.
Thus, the bargaining power of the buyers is moderate. - Threat of New Entrants: Companies entering the butterfly valves market might face limited legal concerns and government barriers.
Thus, the threat of the new entrants is high. - Threat of Substitutes: There are many alternative products for butterfly valves. For instance, industrial valves, triple offset valves and others.
Thus, the threat of substitutes is high. - Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players.
Therefore, competitive rivalry in the market is moderate.
| Aspect | Particulars |
| Historical Market Estimations | 2019-2020 |
| Base Year for Market Estimation | 2020 |
| Forecast Timeline for Market Projection | 2021-2028 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Type |
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| Segmentation by Application Type |
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| Segmentation by Function Type |
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| Segmentation by End-User |
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| Key Companies Profiled |
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Q1. What is the size of the global butterfly valves market?
A. The size of the global butterfly valves market was over $9,028.1 million in 2020 and is projected to reach $14,108.3 million by 2028.
Q2. Which are the major companies in the butterfly valves market?
A. Emerson Electric Co., Flowserve Corporation, and Curtiss-Wright Corporation are some of the key players in the global butterfly valves market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific butterfly valves market?
A. Asia Pacific location analytics market is anticipated to grow at 7.2% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Cameron International, Alfa-Laval Corporate AB are investing more on R&D activities for developing new products and technologies.
1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.4.1.Assumptions
1.4.2.Forecast parameters
1.5.Data sources
1.5.1.Primary
1.5.2.Secondary
2.Executive Summary
2.1.360° summary
2.2.By type trends
2.3.By application type trends
2.4.By function type trends
2.5.By end-user trends
3.Market overview
3.1.Market segmentation & definitions
3.2.Key takeaways
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.4.Market dynamics
3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview
3.8.1.by type
3.8.2.by application type
3.8.3.By function type
3.8.4.By end-user
3.9.Market value chain analysis
3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors
3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors
3.10.Strategic overview
4.Butterfly Valve Market, by type
4.1.High-Performance Butterfly Valves
4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028
4.2.Lined Butterfly Valves
4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028
5.Butterfly Valve Market, by application type
5.1.Centric Valves
5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028
5.2.Eccentric Valves
5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028
6.Butterfly Valve Market, by function type
6.1.On/Off Valves
6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028
6.2.Control Valves
6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028
7.Butterfly Valve Market, by end-user
7.1.Oil & Gas
7.1.1.Market size and forecast, by region, 2020-2028
7.1.2.Comparative market share analysis, 2020 & 2028
7.2.Electric Power
7.2.1.Market size and forecast, by region, 2020-2028
7.2.2.Comparative market share analysis, 2020 & 2028
7.3.Water & Wastewater
7.3.1.Market size and forecast, by region, 2020-2028
7.3.2.Comparative market share analysis, 2020 & 2028
7.4.Chemical
7.4.1.Market size and forecast, by region, 2020-2028
7.4.2.Comparative market share analysis, 2020 & 2028
7.5.Others
7.5.1.Market size and forecast, by region, 2020-2028
7.5.2.Comparative market share analysis, 2020 & 2028
8.Butterfly Valve Market, by Region
8.1.North America
8.1.1.Market size and forecast, by type, 2020-2028
8.1.2.Market size and forecast, by application type, 2020-2028
8.1.3.Market size and forecast, by function type, 2020-2028
8.1.4.Market size and forecast, by end-user, 2020-2028
8.1.5.Market size and forecast, by country, 2020-2028
8.1.6.Comparative market share analysis, 2020 & 2028
8.1.7.U.S.
8.1.7.1.Market size and forecast, by type, 2020-2028
8.1.7.2.Market size and forecast, by application type, 2020-2028
8.1.7.3.Market size and forecast, by function type, 2020-2028
8.1.7.4.Market size and forecast, by end-user, 2020-2028
8.1.7.5.Market size and forecast, by country, 2020-2028
8.1.7.6.Comparative market share analysis, 2020 & 2028
8.1.8.Canada
8.1.8.1.Market size and forecast, by type, 2020-2028
8.1.8.2.Market size and forecast, by application type, 2020-2028
8.1.8.3.Market size and forecast, by function type, 2020-2028
8.1.8.4.Market size and forecast, by end-user, 2020-2028
8.1.8.5.Market size and forecast, by country, 2020-2028
8.1.8.6.Comparative market share analysis, 2020 & 2028
8.1.9.Mexico
8.1.9.1.Market size and forecast, by type, 2020-2028
8.1.9.2.Market size and forecast, by application type, 2020-2028
8.1.9.3.Market size and forecast, by function type, 2020-2028
8.1.9.4.Market size and forecast, by end-user, 2020-2028
8.1.9.5.Market size and forecast, by country, 2020-2028
8.1.9.6.Comparative market share analysis, 2020 & 2028
8.2.Europe
8.2.1.Market size and forecast, by type, 2020-2028
8.2.2.Market size and forecast, by application type, 2020-2028
8.2.3.Market size and forecast, by function type, 2020-2028
8.2.4.Market size and forecast, by end-user, 2020-2028
8.2.5.Market size and forecast, by country, 2020-2028
8.2.6.Comparative market share analysis, 2020 & 2028
8.2.7.Germany
8.2.7.1.Market size and forecast, by type, 2020-2028
8.2.7.2.Market size and forecast, by application type, 2020-2028
8.2.7.3.Market size and forecast, by function type, 2020-2028
8.2.7.4.Market size and forecast, by end-user, 2020-2028
8.2.7.5.Market size and forecast, by country, 2020-2028
8.2.7.6.Comparative market share analysis, 2020 & 2028
8.2.8.UK
8.2.8.1.Market size and forecast, by type, 2020-2028
8.2.8.2.Market size and forecast, by application type, 2020-2028
8.2.8.3.Market size and forecast, by function type, 2020-2028
8.2.8.4.Market size and forecast, by end-user, 2020-2028
8.2.8.5.Market size and forecast, by country, 2020-2028
8.2.8.6.Comparative market share analysis, 2020 & 2028
8.2.9.France
8.2.9.1.Market size and forecast, by type, 2020-2028
8.2.9.2.Market size and forecast, by application type, 2020-2028
8.2.9.3.Market size and forecast, by function type, 2020-2028
8.2.9.4.Market size and forecast, by end-user, 2020-2028
8.2.9.5.Market size and forecast, by country, 2020-2028
8.2.9.6.Comparative market share analysis, 2020 & 2028
8.2.10.Spain
8.2.10.1.Market size and forecast, by type, 2020-2028
8.2.10.2.Market size and forecast, by application type, 2020-2028
8.2.10.3.Market size and forecast, by function type, 2020-2028
8.2.10.4.Market size and forecast, by end-user, 2020-2028
8.2.10.5.Market size and forecast, by country, 2020-2028
8.2.10.6.Comparative market share analysis, 2020 & 2028
8.2.11.Italy
8.2.11.1.Market size and forecast, by type, 2020-2028
8.2.11.2.Market size and forecast, by application type, 2020-2028
8.2.11.3.Market size and forecast, by function type, 2020-2028
8.2.11.4.Market size and forecast, by end-user, 2020-2028
8.2.11.5.Market size and forecast, by country, 2020-2028
8.2.11.6.Comparative market share analysis, 2020 & 2028
8.2.12.Rest of Europe
8.2.12.1.Market size and forecast, by type, 2020-2028
8.2.12.2.Market size and forecast, by application type, 2020-2028
8.2.12.3.Market size and forecast, by function type, 2020-2028
8.2.12.4.Market size and forecast, by end-user, 2020-2028
8.2.12.5.Market size and forecast, by country, 2020-2028
8.2.12.6.Comparative market share analysis, 2020 & 2028
8.3.Asia-Pacific
8.3.1.Market size and forecast, by type, 2020-2028
8.3.2.Market size and forecast, by application type, 2020-2028
8.3.3.Market size and forecast, by function type, 2020-2028
8.3.4.Market size and forecast, by end-user, 2020-2028
8.3.5.Market size and forecast, by country, 2020-2028
8.3.6.Comparative market share analysis, 2020 & 2028
8.3.7.China
8.3.7.1.Market size and forecast, by type, 2020-2028
8.3.7.2.Market size and forecast, by application type, 2020-2028
8.3.7.3.Market size and forecast, by function type, 2020-2028
8.3.7.4.Market size and forecast, by end-user, 2020-2028
8.3.7.5.Market size and forecast, by country, 2020-2028
8.3.7.6.Comparative market share analysis, 2020 & 2028
8.3.8.Japan
8.3.8.1.Market size and forecast, by type, 2020-2028
8.3.8.2.Market size and forecast, by application type, 2020-2028
8.3.8.3.Market size and forecast, by function type, 2020-2028
8.3.8.4.Market size and forecast, by end-user, 2020-2028
8.3.8.5.Market size and forecast, by country, 2020-2028
8.3.8.6.Comparative market share analysis, 2020 & 2028
8.3.9.India
8.3.9.1.Market size and forecast, by type, 2020-2028
8.3.9.2.Market size and forecast, by application type, 2020-2028
8.3.9.3.Market size and forecast, by function type, 2020-2028
8.3.9.4.Market size and forecast, by end-user, 2020-2028
8.3.9.5.Market size and forecast, by country, 2020-2028
8.3.9.6.Comparative market share analysis, 2020 & 2028
8.3.10.Australia
8.3.10.1.Market size and forecast, by type, 2020-2028
8.3.10.2.Market size and forecast, by application type, 2020-2028
8.3.10.3.Market size and forecast, by function type, 2020-2028
8.3.10.4.Market size and forecast, by end-user, 2020-2028
8.3.10.5.Market size and forecast, by country, 2020-2028
8.3.10.6.Comparative market share analysis, 2020 & 2028
8.3.11.South Korea
8.3.11.1.Market size and forecast, by type, 2020-2028
8.3.11.2.Market size and forecast, by application type, 2020-2028
8.3.11.3.Market size and forecast, by function type, 2020-2028
8.3.11.4.Market size and forecast, by end-user, 2020-2028
8.3.11.5.Market size and forecast, by country, 2020-2028
8.3.11.6.Comparative market share analysis, 2020 & 2028
8.3.12.Rest of Asia Pacific
8.3.12.1.Market size and forecast, by type, 2020-2028
8.3.12.2.Market size and forecast, by application type, 2020-2028
8.3.12.3.Market size and forecast, by function type, 2020-2028
8.3.12.4.Market size and forecast, by end-user, 2020-2028
8.3.12.5.Market size and forecast, by country, 2020-2028
8.3.12.6.Comparative market share analysis, 2020 & 2028
8.4.LAMEA
8.4.1.Market size and forecast, by type, 2020-2028
8.4.2.Market size and forecast, by application type, 2020-2028
8.4.3.Market size and forecast, by function type, 2020-2028
8.4.4.Market size and forecast, by end-user, 2020-2028
8.4.5.Market size and forecast, by country, 2020-2028
8.4.6.Comparative market share analysis, 2020 & 2028
8.4.7.Latin America
8.4.7.1.Market size and forecast, by type, 2020-2028
8.4.7.2.Market size and forecast, by application type, 2020-2028
8.4.7.3.Market size and forecast, by function type, 2020-2028
8.4.7.4.Market size and forecast, by end-user, 2020-2028
8.4.7.5.Market size and forecast, by country, 2020-2028
8.4.7.6.Comparative market share analysis, 2020 & 2028
8.4.8.Middle East
8.4.8.1.Market size and forecast, by type, 2020-2028
8.4.8.2.Market size and forecast, by application type, 2020-2028
8.4.8.3.Market size and forecast, by function type, 2020-2028
8.4.8.4.Market size and forecast, by end-user, 2020-2028
8.4.8.5.Market size and forecast, by country, 2020-2028
8.4.8.6.Comparative market share analysis, 2020 & 2028
8.4.9.Africa
8.4.9.1.Market size and forecast, by type, 2020-2028
8.4.9.2.Market size and forecast, by application type, 2020-2028
8.4.9.3.Market size and forecast, by function type, 2020-2028
8.4.9.4.Market size and forecast, by end-user, 2020-2028
8.4.9.5.Market size and forecast, by country, 2020-2028
8.4.9.6.Comparative market share analysis, 2020 & 2028
9.Company profiles
9.1.Emerson Electric Co.
9.1.1.Business overview
9.1.2.Financial performance
9.1.3.Product portfolio
9.1.4.Recent strategic moves & developments
9.1.5.SWOT analysis
9.2.Flowserve Corporation
9.2.1.Business overview
9.2.2.Financial performance
9.2.3.Product portfolio
9.2.4.Recent strategic moves & developments
9.2.5.SWOT analysis
9.3.Curtiss-Wright Corporation
9.3.1.Business overview
9.3.2.Financial performance
9.3.3.Product portfolio
9.3.4.Recent strategic moves & developments
9.3.5.SWOT analysis
9.4.Cameron International
9.4.1.Business overview
9.4.2.Financial performance
9.4.3.Product portfolio
9.4.4.Recent strategic moves & developments
9.4.5.SWOT analysis
9.5.Alfa-Laval Corporate AB
9.5.1.Business overview
9.5.2.Financial performance
9.5.3.Product portfolio
9.5.4.Recent strategic moves & developments
9.5.5.SWOT analysis
9.6.AVK Group
9.6.1.Business overview
9.6.2.Financial performance
9.6.3.Product portfolio
9.6.4.Recent strategic moves & developments
9.6.5.SWOT analysis
9.7.Crane Co.
9.7.1.Business overview
9.7.2.Financial performance
9.7.3.Product portfolio
9.7.4.Recent strategic moves & developments
9.7.5.SWOT analysis
9.8.Weir Group
9.8.1.Business overview
9.8.2.Financial performance
9.8.3.Product portfolio
9.8.4.Recent strategic moves & developments
9.8.5.SWOT analysis
9.9.KSB Group
9.9.1.Business overview
9.9.2.Financial performance
9.9.3.Product portfolio
9.9.4.Recent strategic moves & developments
9.9.5.SWOT analysis
9.10.Velan Inc.
9.10.1.Business overview
9.10.2.Financial performance
9.10.3.Product portfolio
9.10.4.Recent strategic moves & developments
9.10.5.SWOT analysis
A butterfly valve is a device that controls the flow of materials inside pipes of huge diameters by the quarter-turn rotation of a disc. It was originally used where a tight closure was not essential. However, with years, these valves have been produced with significantly tight seals made up of elastomeric or rubber materials that offer better shut off like other types of valves. Butterfly valves are usually used in narrow spaces.
A butterfly valve is likely to be low-cost as compared to gate valves as they need less material and less civil works. It is also easy to operate in case of unstable water pressures as the disc pivots around an axis on or near the pipe axis. Therefore, butterfly valves are nowadays greatly used in water supply systems. Apart from this, there are various applications of butterfly valves, which is increasing their demand on a global level.
What are Different Applications of Butterfly Valves?
A butterfly valve can be used in a broad array of application areas. It offers great performance in huge capacity water applications as well as slurry applications. Some of the usual applications of butterfly valves are in following areas:
- Cooling water, gas, air, fire protection etc.
- Slurry and similar services
- Vacuum services
- High-pressure and high-temperature water and steam facilities
- Compressed gas or air applications
Another significant area where butterfly valves are greatly used is the oil and gas industry. In this industry, there are huge wells which require deeper pipelines; this makes it necessary to adopt specialized and essential tools in the oil and gas sector. According to a report by Research Dive, the global butterfly valves market is projected to hit $14,108.3 million in the 2021–2028 timeframe, at a CAGR of 5.9%. The global market is foreseen to experience exponential growth owing to the development of various industrial infrastructure projects, rising use of electricity in manufacturing procedures, and growing need for automation in industrial processes.
Why is the Global Butterfly Valves Market Flourishing?
Growing advancements in the oil and gas industry seem to open doors to promising opportunities for the butterfly valves market. World’s developing regions including Africa, the Middle East, and Latin America, are likely to open up a lucrative environment for the global butterfly valve industry, guaranteeing continuous expansion in line with the oil and gas industry’s evolution. Moreover, the development of new oil and gas reservoirs in Africa is projected to considerably offer a helping hand to cater the global oil needs. An additional factor thrusting the demand for butterfly valves is the huge investments in factories and pipelines in the oil and gas sector. All these aspects are projected to significantly boost the growth of the butterfly valves industry in the coming years.
Recent Trends in the Global Butterfly Valves Market
Several players in the market, such as Flowserve Corporation, Emerson Electric Co., Curtiss-Wright Corporation, Velan Inc, Cameron International, Alfa-Laval Corporate AB, Crane Co., Weir Group, KSB Group, and AVK Group, are profoundly investing in various developments related to butterfly valves. They are undertaking various activities, such as new product development, adoption of new technologies, mergers and acquisitions, partnerships, and many more, to obtain a robust position in the industry. For instance,
- In April 2020, Flomatic, a diversified valve manufacturer of water valves & waste water valves, launched a new model—Sylax 3 Lug style and wafer style butterfly valves.
- In April 2021, GF Piping Systems, the global expert for the safe and reliable transportation of water, chemicals and gases, launched Butterfly Valve 565, which is a wholesome solution for the water sector and is capable of resolving all of the usual issues customers have been suffering with metal valves.
- In June 2021, Festo, a global player and an independent family-owned company with companies in 61 countries, launched the online KVZA butterfly-valve configurator. The new configurator can lower overhead by accelerating and streamlining procurement of manual and automated butterfly valves.
- In June 2021, Neles, a well-known flow control solutions and services provider to the process industries, announced to introduce a novel multipurpose butterfly valve product range that allows stress-free valve configuration for an extensive range of applications in various industrial process.
Impact of COVID-19 on the Global Butterfly Valves Market
The abrupt rise of COVID-19 pandemic in 2020 has made a severe impact on the growth of the global butterfly valves market. The closure of oil and gas industries and disruption in supply chains of butterfly valve manufacturing industries are negatively affecting the market growth. However, as the pandemic situation is relaxing, the demand for butterfly values is expected to surge with the reopening of industrial sectors.
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