Butterfly Valve (BFV) Market, by Type (High-Performance Butterfly Valve, Lined Butterfly Valve), Design (Concentric Butterfly Valve, Eccentric Butterfly Valve) Material Type (Stainless Steel Valves, Cast Iron Valves, Others), Function (On/Off Valve, Control Valve), End-User (Oil & Gas, Water & Wastewater, Energy & Power, Pharmaceutical, Chemical) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Butterfly Valve (BFV) Market Overview
The butterfly valves market size was estimated at USD 10.97 billion in 2023 and is projected to reach USD 16.64 billion in 2030 at a CAGR of 6.13% during the forecast period 2023-2030.
Butterfly valves are a type of quarter-turn valve used to control the flow of liquids or gases through a pipe. They consist of a circular disc or plate with a pivot axis at its centre. When the valve is rotated a quarter turn, the disc either allows or blocks the flow of fluid, similar to the movement of a butterfly’s wings, hence the name “butterfly valve”. Butterfly valves are commonly used in industries such as water treatment, HVAC systems, chemical processing, food and beverage, and more. Their simple design, ease of operation, and cost-effectiveness make them a versatile choice for controlling the flow of fluids in various applications.
The growth of the market is being driven by the rising demand for oil and gas industry, increasing demand from water and wastewater treatment industry, development of new technologies and growing demand from the power generation industry. Moreover, the urbanization of cities and the building of infrastructure has increased the demand for the butterfly valves.
However, factors such as competition from other types of valves, high cost of butterfly valves, availability of reasonably priced products and strict set of quality control and safety regulations might hamper the growth of the market.
Get a Sample Copy of the Butterfly Valve (BFV) Market Research Report: https://www.delvens.com/get-free-sample/butterfly-valve-market
The COVID-19 pandemic had a considerable impact on the market. Disruption in the supply chain reduced demand across end-user industries such as oil and gas due to limited exploration and production activities hampered the growth of the market during the pandemic.
Delvens Industry Expert's Standpoint
The market is expected to grow during the forecast period. This growth can be attributed to several factors. The oil & gas industry is one of the largest consumers of butterfly valves. Butterfly valves are used in a variety of applications in the oil and gas industry, such as flow control, isolation, and throttling. The rising demand for oil and gas is expected to drive the demand for butterfly valves in this industry. Moreover, the increasing demand for clean water and wastewater treatment is expected to drive the demand for butterfly valves in this industry. However, there are a number of other types of valves that can be used in place of butterfly valves. The competition from these other types of valves could hamper the growth of the butterfly valve market. Moreover, butterfly valves can be expensive, especially for large sizes and high-pressure ratings. This could be a barrier to adoption for some applications.
Key Findings
• Based on type, the market is segmented into high-performance butterfly valve, and lined butterfly valve. The high-performance butterfly valve dominated the market in this segment. High performance valves, because of their flow path, high capacity and their ability to pass solid and viscous media, dominated the market in the market in this segment.
• Based on design, the market is bifurcated into concentric butterfly valve, and eccentric butterfly valve. The eccentric butterfly valve dominated the market in this segment. 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 have led to the growth of the eccentric butterfly valve market.
• Based on material type, the market is segmented into stainless steel valves, cast iron valves, and others. Stainless steel valves dominated the market in this segment. Stainless steel butterfly valves are strong, durable, and resistant to corrosion and wear and tear, making them a good choice for a wide range of applications.
• Based on function, the market is segmented into on/off valve, and control valve. The on/off valve dominated the market in this segment. These valves offer long-term tight shut-off, quick and safe operation and lower fugitive emissions.
• Based on end user, the market is bifurcated into oil & gas, water & wastewater, energy & power, pharmaceutical, and chemical. Oil & Gas sector dominated the market in this segment. This growth can be attributed to increase in demand for butterfly valves in oil & gas downstream applications.
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia-Pacific is estimated to account for the largest market share during the forecast period. Increasing urbanization rate across various countries of the Asia Pacific region is driving investment in the water & wastewater management industry which is a major consumer for butterfly valves. Moreover, expanding energy sources, increasing pipeline transportation usage, increasing oil and gas reserves, increasing infrastructure projects are expected to drive the market during the forecast period.
Butterfly Valve (BFV) Market Regional Analysis
Asia-Pacific to Dominate the Market
• Asia-Pacific is estimated to account for the largest market share during the forecast period. In Asia-Pacific, investment in the water & wastewater management industry due to rapid urbanization has led to increase in demand of butterfly valve.
• Moreover, rapid industrialization and urbanization have led to expanding energy sources, increasing pipeline transportation usage, increasing oil and gas reserves, increasing infrastructure projects which is expected to drive the market during the forecast period.
Butterfly Valve (BFV) Market Competitive Landscape
• Alfa Laval Corporate AB
• ASE Engineered Solutions
• AVK Group
• Bray International, Inc.
• Crane Co.
• Curtiss-Wright Corporation
• Dembla Valves Ltd.
• Emerson Electric Co.
• Flexachem
• Flowserve Corporation
• Hobbs Valve Limited
• Huamei Machinery Limited
• KSB Group
• L&T Valves Limited
• NIBCO Inc.
• Schlumberger Limited
• The Weir Group PLC
• Valmet Corporation
• Velan Inc.
• XHVAL Valve Co., Ltd.
Inquire before you purchase to increase your business' revenue: https://www.delvens.com/Inquire-before-buying/butterfly-valve-market
Butterfly Valve (BFV) Market Recent Developments
• In May 2023, John King Group has acquired valve manufacturer DAB Valves for an undisclosed amount. DAB Valves sells a variety of valves and associated equipment within their range from slide and butterfly valves to gravity flap diverter valves and drop out boxes.
• In April 2023, two small businesses, JA Moody and Lexair, teamed up to supply the high-spec Keystone K-LOK butterfly valve, used for fuel, lube oil, AFFF and other fluid lines on every class of Navy ship to the U.S. Navy.
Reasons to Acquire in the Butterfly Valve (BFV) Market
• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the Butterfly Valves Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
Direct Purchase of Butterfly Valve (BFV) Market Report Research Report: https://www.delvens.com/checkout/butterfly-valve-market
Frequently Asked Questions
What are the years considered to study Butterfly Valve (BFV) Market?
What is the compound annual growth rate (CAGR) of the Butterfly Valve (BFV) Market?
Which region holds the largest market share in Butterfly Valve (BFV) Market?
Which region is the fastest growing in Butterfly Valve (BFV) Market?
Who are the major players in Butterfly Valve (BFV) Market?
Browse Related Reports:
Digitally Printed Wallpaper Market – Trends Forecast Till 2030
Digitally Printed Wallpaper Market by Material Type, Application (Residential, Commercial, and Industrial Sectors), Design Style, Distribution Channel (Specialized Wallpaper Stores, Home Improvement Retailers, Online Marketplaces, and Interior Design Studios), and region (North America, Europe, Asia-Pacific, Middle East, Africa, and South America).
Piezoelectric Devices Market – Trends Forecast Till 2030
Piezoelectric Devices Market by Product Type (Piezoelectric Sensors, Piezoelectric Actuators, and Piezoelectric Transducers), Application, and region (North America, Europe, Asia-Pacific, Middle East, Africa, and South America).
About Us:
Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.
Delvens database assists the clients by providing in-depth information in crucial business decisions. Delvens offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.
Contact Us:
UNIT NO. 2126, TOWER B,
21ST FLOOR ALPHATHUM
SECTOR 90 NOIDA 201305, IN
+44-20-8638-5055
[email protected]