The Butterfly Valves Market report, authored by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—unveils profound insights and meticulous analysis of the Butterfly Valves Market. Encompassing the research’s ambit and essence, the report scrutinizes the driving determinants, market expanse, and predictive statistics for Butterfly Valves Market. It offers exhaustive breakdowns of revenue and shipment segments, with an extensive 10-year forecast till 2033. Furthermore, the document evaluates pivotal industry players, their market apportionments, the competitive terrain, and regional insights.
Butterfly valve market sales are expected to reach US$ 10.3 billion in 2023 and US$ 19.4 billion by 2033, according to FMI. Over the forecast period, sales of butterfly valves are expected to rise by 6.5%.
The industrial automation market’s expansion of technologies and innovations is predicted to raise demand for butterfly valves. For instance, Jamesbury Wafer-SphereTM soft-seated and Neles NeldiscTM metal-seated butterfly valves are made for long-term performance. Butterfly valves come in a broad variety and both have metal and soft seats. The best butterfly valves in the business with SIL3 certification are ideal for control valves and on-off applications.
The devices have wide applications in various process media and industries, particularly in water treatment, distribution, collection, and pump stations, particularly in flow isolation. As a result of their simple construction, compactness, and smaller installation footprints, they perform faster than other valve families and are lighter in weight and cost.
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There are significant advantages to using butterfly valves in certain applications, especially when the dimension exceeds 200 mm (DN 200) in size:
- Due to their compact designs and ease of installation demand is set to expand.
- Their inherently simple and economical design eliminates many wear points by having fewer components.
- Butterfly valves are often more economical than other valve types due to their simpler design and simpler manufacturing process.
- The butterfly valve is widely used in a variety of applications, including underground installation
Key Takeaways from this Market:
- Based on FMI research, the United States is projected to hold almost 78.70% of the global market in 2033.
- Butterfly valve sales in South Korea are expected to grow at a CAGR of 6.2% by 2033.
- In 2023, it is anticipated that the butterfly valve sector in China will hold a market share of 42.2%.
- Butterfly valves in Japan are predicted to grow at a CAGR of 6.4% over the forecast period.
- By 2033, the high-performance segment of the butterfly valve market is predicted to command nearly 6.4% of the market’s CAGR.
- By 2033, the eccentric valve mechanism will dominate the butterfly valve industry with a CAGR of roughly 6.3%.
“During the last few years, the market for butterfly valves has seen a significant increase in sales largely because of improvements in materials, improvements in manufacturing processes, and new designs,” – remarks an analyst at FMI.
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How Key Players are Transforming the Manufacturing of Butterfly Valves?
Butterfly valves are competitively priced and are offered by a wide variety of global manufacturers. Market leaders include:
- Alfa-Laval Corporate AB
- AVK Group
- Cameron
- Crane Co.
- Curtiss-Wright Corporation
- Emerson Electric Co.
- Flowserve Corporation
- KSB Group
- Velan Inc.
- Weir Group
To gain a competitive edge over their competitors, industry participants also fund research and development projects.
Players in the industry are confronted with several challenges, such as rising raw material prices, a highly competitive environment, and the lack of awareness of butterfly valves in the marketplace.
Marketing campaigns are being conducted to raise consumer awareness about low-cost, highly effective butterfly valves that are being developed by businesses.
Competitive Landscape – Regional Trends:
The Butterfly Valves Market showcases a diverse competitive landscape, with regional trends dictating market dynamics. The competition benchmarking reveals that certain regions are poised for rapid growth, driven by unique market factors and demands.
Restraints:
While butterfly valves exhibit significant advantages, they may not be the preferred choice for controlling flow within closed-loop systems, according to engineering preferences. These limitations must be acknowledged and addressed for continued market growth.
Region-wise Insights – Category-wise Insights:
In-depth insights into regional variations and category-specific demands are essential for market players seeking to capitalize on emerging opportunities.
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More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global butterfly valves market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the market, the report is segmented based on type (high-performance and lined), mechanism (eccentric valves and centric valves), function (on/off valves and control valves), and application (oil & gas, water & wastewater, chemicals, power generation, and others) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
Market Segmentation
By Type:
- High-performance
- Lined
By Mechanism:
- Eccentric Valves
- Centric Valves
By Function:
- On/Off Valves
- Control Valves
By Application:
- Oil & Gas
- Water & Wastewater
- Chemicals
- Power Generation
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia
- East Asia
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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