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

Engineering, Equipment and Machinery

CM21078418

Pages: 225

Jul 2021

Reports Overview

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.