FMI Identifies the Demand for Butterfly Valves in Oil and Gas Industries is Likely to Grow Demand in the Market. Read More
The butterfly valves market is predicted to generate US$ 10.3 billion in 2023. Butterfly valve sales are expected to reach US$ 19.4 billion by 2033. Over the forecast period, the market is projected to grow at a CAGR of 6.5%. Ss Globe Valve
Due to their smaller size, lightweight, and reduced weight, butterfly valves are better suited for regulating flow in many applications than other kinds of control valves. The traditional use of butterfly valves for automatic on-off applications is well suited to their design. Engineers, however, do not consider them acceptable when controlling flow in closed-loop systems.
Stainless steel valves will play an important role in streamlining material flow. Hygienic valves are expected to be in high demand in the food and beverage industry. For instance, Valves Online developed a jacketed hygienic butterfly valve specifically designed for the dairy and confectionery industries.
Automation and smart technologies integrated into butterfly valves improve operational efficiency and reduce costs, by enabling remote monitoring, control, and predictive maintenance. Due to rapid industrialization, urbanization, and infrastructure development, butterfly valves are increasingly being adopted in emerging economies.
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From 2018 to 2022, the global butterfly valves market experienced a CAGR of 8.2%, reaching a market size of US$ 10.3 billion in 2023. During this period, the market saw an absolute dollar growth of US$ 9.1 billion.
Butterfly valves with resilient seats are increasingly preferred since they offer better sealing performance, lower maintenance requirements, and lower purchase costs. For precise control, faster response times, and reduced energy consumption, butterfly valves are being actuated by electric and pneumatic systems.
High-performance butterfly valves that are capable of withstanding harsh environments are in high demand due to increased investments in the oil and gas sector. With increased awareness of valve selection and maintenance, customized solutions, aftermarket services, and valve condition monitoring technologies have become increasingly prevalent.
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Demand for Rapid Technological Advancements Fuels Growth in North America's Butterfly Valves Market
Based on FMI analysis, the North American market is expected to account for 23.6% of the global market by 2033. Butterfly valves are popular in North America for their reliability, simplicity, cost-effectiveness, and wide applications, which include highly organized sectors like oil and gas. Handwheels and gearboxes can be used on larger butterfly valves to increase torque and facilitate valve opening and closing.
To reduce their fossil fuel dependency, many companies invest in renewable energy sources. Across the United States, butterfly valves are widely used in a variety of industries and applications. A wide range of industries uses these valves, including oil and gas, water and wastewater treatment, power generation, chemical processing, and HVAC systems.
Pipelines that carry liquids and gases are controlled by butterfly valves in the oil and gas industry. Among their advantages are their lightweight design, ability to operate quickly, and affordability. There are a variety of valves used in refineries, petrochemical plants, and distribution terminals across the United States.
Growing Refinery Infrastructure in Asia Pacific to Grow Demand for Butterfly Valves Market
Asia Pacific region is expected to be the largest market for butterfly valves in the market. With a 40% market share in 2023, the Asia Pacific region has become one of the key players in the butterfly valve market. India and China are expected to experience a surge in demand due to their industrialization and urbanization.
As economies grow and research and development projects in various applications increase, the market is expected to grow. As a result of its high refining capacity, India is becoming an Asia-wide hub for refineries. A total capacity of 247.57 MTPA for refineries has been reached by the nation, based on the most recent report. A growing economy and population are the primary factors driving the market. A network of 19,000 km of gas pipelines is currently under construction in India, and that number is expected to double over the next five years.
Increasing automotive and plant construction in this country is expected to boost demand for butterfly valves. China is anticipated to reach US$ 4.2 billion in 2033. As the market for butterfly valves expands in China, it is projected to grow at a CAGR of 6.4%. Oil and gas exploration and production activities are expected to increase in the coming years, resulting in an increase in the demand for butterfly valves.
Eccentric Valves Mechanism for Improved Sealing are Growing Demand for Butterfly Valve Market
Eccentric valves are expected to expand at a CAGR of 6.3% by 2033. A butterfly valve with an eccentric design offers better flow control and sealing capabilities than other valve types. A tighter seal is achieved by the offset disc design, which minimizes leakage and pressure loss.
Gate valves and globe valves are generally more expensive than eccentric butterfly valves. A variety of industries find them appealing because they require fewer components, are easy to install, and require low maintenance costs. Fluids such as gases, liquids, and slurries can be handled by eccentric butterfly valves. Both on-off and throttling control scenarios can be achieved with them. They are suitable for applications involving moderate to high flow rates.
Eccentric butterfly valves are characterized by excellent durability and reliability because of advances in materials and design. Long service life and minimal downtime are ensured by their resistance to corrosion, erosion, and other harsh operating conditions. Demand for eccentric butterfly valves is driven by expanding sectors such as oil and gas, water treatment, chemicals, and power generation. Eccentric butterfly valves play an important role in these industries, which are growing rapidly.
Growing Oil & Gas Industries to Grow Demand for High-performance Butterfly Valves
High-performance is predicted to dominate the butterfly valve market by 2023, with a CAGR of 6.4%. With a cutting-edge design that guarantees tough durability and exceptionally easy field maintenance, the high-performance butterfly valve, also known in addition to being a high-performance butterfly valve, is also referred to as a double offset butterfly valve.
Growing industrial infrastructure in many economies has increased demand for high-performance butterfly valves, which is influencing demand for related flow control equipment. There has been increased industrialization around the world, growth in the oil and gas sector, and a rise in demand for electricity generation. In addition, high-performance butterfly valves provide a number of key advantages that are driving the global market.
Recent years have seen lucrative growth for petrochemical plants, refineries, wastewater treatment facilities, and power plants. Further, the power generation sector is heavily investing in high-performance butterfly valves in many parts of the country, fueling demand for maximum numbers of them.
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Identifying growth opportunities for butterfly valve is crucial to the success of start-ups. Incorporated into strategy and transformed into action, uncertainty in the market fosters industry growth. Start-ups are largely driving the butterfly valve market.
Acquisitions and mergers of butterfly valve companies are likely to support the industry's growth goals. Research and development are also key activities undertaken by leading manufacturers to improve their products' efficiency, reliability, and adaptability, thereby contributing to their growth. In addition, numerous technology-based companies contribute long-term fuel to the market's growth.
Key Players in the Market:
Recent Developments in the Butterfly Valve Industry:
The primary consumer for butterfly valves is the water and wastewater industry.
Some of the key players in the butterfly valves market are Pentair, Flowserve, and Kitz Group.
The market is estimated to secure a valuation of US$ 10.3 billion in 2023.
The market is estimated to reach US$ 19.4 billion by 2033.
The water and wastewater sector holds high revenue potential.
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