The global butterfly valves market size is expected to reach $13,667.0 million by 2025 from $8,282.61 million in 2017, growing at a CAGR of 6.3% from 2018 to 2025.
Butterfly valve is used in industrial application for isolating and regulating the flow of fluid. These valves exhibit simple construction, consume less space, and are lightweight as compared to other valves. In addition, cost of butterfly valve is very less than other isolation valves. Companies such as Emerson, Flowserve Corporation, AVK Group, and others are some of the leading players in the global butterfly valves market.
Increase in demand from the oil & gas industry, rise in number of industrial infrastructures, surge in usage of power in industrial processes, and growth in demand for need for automation in the process industries are expected to drive the market growth. However, increase in competition from domestic players and high threat of corrosion and choke are expected to hinder the growth of the butterfly valves market.
The global butterfly valves market is segmented on based on type, mechanism, function, end user, and region. Based on type, the market is bifurcated into high performance butterfly valves and lined butterfly valves. The mechanism segment is further classified into centric butterfly valves and eccentric butterfly valves. The end user segment is divided into oil & gas, electric power, water & wastewater, chemical, and other industries. Based on region, the global butterfly valves market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, Russia, France, and others), Asia-Pacific (China, India, Japan, Korea, and others), and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the market include Emerson Electric Co., Flowserve Corporation, Cameron, Alfa-Laval Corporate AB, AVK Group, Crane Co., Weir Group, Curtiss-Wright Corporation, KSB Group, and Velan Inc.
KEY MARKET SEGMENTS
By TYPE
By APPLICATION
o Triple Offset Butterfly Valves
By FUNCTION
o Replacements
o Replacements
By END USER
o Replacements
By REGION
o Canada
o Mexico
o Germany
o Russia
o France
o Rest of Europe
o India
o Japan
o Korea
o Rest of Asia-Pacific
o Middle East
o Africa
KEY PLAYERS
Butterfly valve is used in industrial application for isolating and regulating the flow of fluid. These valves exhibit simple construction, consume less space, and are lightweight as compared to other valves. In addition, cost of butterfly valve is very less than other isolation valves. Companies such as Emerson, Flowserve Corporation, AVK Group, and others are some of the leading players in the global butterfly valves market.
Increase in demand from the oil & gas industry, rise in number of industrial infrastructures, surge in usage of power in industrial processes, and growth in demand for need for automation in the process industries are expected to drive the market growth. However, increase in competition from domestic players and high threat of corrosion and choke are expected to hinder the growth of the butterfly valves market.
The global butterfly valves market is segmented on based on type, mechanism, function, end user, and region. Based on type, the market is bifurcated into high performance butterfly valves and lined butterfly valves. The mechanism segment is further classified into centric butterfly valves and eccentric butterfly valves. The end user segment is divided into oil & gas, electric power, water & wastewater, chemical, and other industries. Based on region, the global butterfly valves market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, Russia, France, and others), Asia-Pacific (China, India, Japan, Korea, and others), and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the market include Emerson Electric Co., Flowserve Corporation, Cameron, Alfa-Laval Corporate AB, AVK Group, Crane Co., Weir Group, Curtiss-Wright Corporation, KSB Group, and Velan Inc.
KEY MARKET SEGMENTS
By TYPE
- High-Performance Butterfly Valves
- Lined Butterfly Valves
By APPLICATION
- Centric Valves (Zero Offset Butterfly Valves)
- Eccentric Valves
o Triple Offset Butterfly Valves
By FUNCTION
- On/Off Valves
o Replacements
- Control Valves
o Replacements
By END USER
- Oil & Gas
o Replacements
- Electric Power
- Water & Wastewater
- Chemical
- Others
By REGION
- North America
o Canada
o Mexico
- Europe
o Germany
o Russia
o France
o Rest of Europe
- Asia-Pacific
o India
o Japan
o Korea
o Rest of Asia-Pacific
- LAMEA
o Middle East
o Africa
KEY PLAYERS
- Emerson Electric Co.
- Flowserve Corporation
- Cameron
- Alfa-Laval Corporate AB
- AVK Group
- Crane Co.
- Weir Group
- Curtiss-Wright Corporation
- KSB Group
- Velan Inc.
Table of Contents
Chapter 1: Introduction
CHAPTER 2: Executive summary
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: Butterfly Valve Market, BY type
CHAPTER 5: Butterfly Valve Market, BY Mechanism
CHAPTER 6: Butterfly Valve Market, BY Function
CHAPTER 7: Butterfly Valve Market, BY End-User
CHAPTER 8: Butterfly Valve Market, BY Region
CHAPTER 9: Company profiles
Executive Summary
According to this report titled, 'Butterfly Valves Market by Type, Mechanism, Function, and End User: Global Opportunity Analysis and Industry Forecast, 2018–2025,' 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. Asia-Pacific is expected to be the leading contributor to the global butterfly valves market, followed by Europe and North America.Butterfly valve (also known as quarter turn valve) is a shut-off valve used to isolate and control the flow of fluid and gases in various industrial applications. It is also known as quarter turn valve. The simple structure of butterfly valve includes a disk placed in middle of a pipe and swivels sideways or on uprights which starts and stops the fluid flow. Furthermore, these valves are economical, consume less space, and lightweight as compared to other valves.
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.
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.
Asia-Pacific accounted for a major share of the global butterfly valves market in 2017 and is expected to dominate the market in terms of revenue during the forecast period, owing rapid urbanization & industrialization, and increase in investment in oil & gas and power generation industries. The Europe region holds the second largest share in the global butterfly valves market.
Key Findings Of The Study
In 2017, the high-performance butterfly valves segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 6.8% during the forecast period.
The eccentric valves segment accounted for more than 50.0 % of the butterfly valves market share in 2017.
Oil & gas industry contributed major share of 39% in global butterfly valves market during 2017.
China was the major shareholder in the Asia-Pacific butterfly valves market, accounting for more than 40.0% share in 2017.
The key players profiled in the report include Emerson Electric Co., Flowserve Corporation, Cameron, Alfa-Laval Corporate AB, AVK Group, Crane Co., Weir Group, Curtiss-Wright Corporation, KSB Group, and Velan Inc. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the butterfly valves market.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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