Butterfly Valve Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Aug 2022 Pages: 150 SKU: IRTNTR74174

The butterfly valve market share is expected to increase by USD 2.66 billion from 2021 to 2026, at a CAGR of 4.7%.

This butterfly valve market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers butterfly valve market segmentation by end-user (oil and gas industry, water and wastewater industry, power generation industry, chemical industry, and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The butterfly valve market report also offers information on several market vendors, including Alfa Laval Corporate AB, AVK Holding AS, Bray International, Burkert India Pvt. Ltd., Crane Co., Curtiss Wright Corp., Dembla Valves Ltd., Emerson Electric Co., Festo SE and Co. KG, Flomatic Corp., Flowserve Corp., Georg Fischer Ltd., Hobbs Valve Ltd., Honeywell International Inc., IMI Critical Engineering, KITZ Corp., KSB SE and Co. KGaA, Larsen and Toubro Ltd., Neles Corp., OHL Gutermuth Industrial Valves GmbH, Schlumberger Ltd., The Weir Group Plc, and Velan Inc. among others.

What will the Butterfly Valve Market Size be During the Forecast Period?

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Butterfly Valve Market: Key Drivers, Trends, and Challenges

The recent developments is notably driving the butterfly valve market growth, although factors such as fluctuations in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the butterfly valve industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Butterfly Valve Market Driver

One of the key factors driving growth in the butterfly valve market is the recent developments. The new development additions will motivate end-users to purchase various new types of butterfly valves. The increasing number of new launches also increases the competition in the market, which, in turn, will lead to innovation and differentiation. Considering the fact that new launches persuade end-users to try various new types of butterfly valves, manufacturers also focus on new developments. In April 2020, Flomatic Corp., a diversified valve manufacturer of water valves and wastewater valves, announced the launch of a new model, Sylax 3 Lug style and wafer style butterfly valves. In April 2021, Georg Fischer Piping Systems Ltd., the global expert in the safe and reliable transportation of water, chemicals, and gases, announced the launch of the new butterfly valve 565, which is a wholesome solution for the water sector and can resolve all the usual issues customers have been suffering with metal valves.  Such factors are expected to fuel the growth of the market in focus.

Key Butterfly Valve Market Trend

Additive manufacturing gaining traction is a butterfly valve market trend that is expected to have a positive impact in the coming years. Driven by the advancements in technology, additive manufacturing is gradually gaining applications in industries, where it is moving from the prototype and testing level to the mass production level. Computer numerical codes, cast urethane, binder jetting, sheet lamination, vat photopolymerization, and directed energy deposition are some of the additive manufacturing techniques that are being used. With the help of additive manufacturing, valve manufacturers can create actual working models of complex products and can also experiment by using different material components to check the 3D printed valve models for fluid (liquid, gas, or oil) flow through the valve. With the ongoing technological developments, manufacturers are investing in additive manufacturing for butterfly valves. Hence, these investments are poised to drive the growth of the market in focus.

Key Butterfly Valve Market Challenge

The fluctuations in raw material prices will be a major challenge for the butterfly valve market during the forecast period. Raw material prices play a key role in controlling valve prices, and a rise in raw material prices presents a major challenge for vendors as it can reduce their profit margin. Copper, stainless steel cast iron, aluminum, brass, and bronze are some of the major raw materials used in butterfly valves. High-temperature carbon steel, low-temperature carbon steel, and austenitic stainless steel are some of the steel types that are used extensively in the manufacturing of butterfly valves. Besides requiring raw materials for the main body of the butterfly valve, different grades and types of metals are required for other parts of a butterfly valve, such as the bonnet, trim, disc, seats, stem, packing, and actuator. Due to high competition in the global butterfly valve market, manufacturers of butterfly valves cannot pass on the increase in the price of raw materials to consumers and, consequently, face a decline in profit margins. Such factors are anticipated to hinder the growth of the global butterfly valve market.

This butterfly valve market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global butterfly valve market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the butterfly valve market during the forecast period.

Who are the Major Butterfly Valve Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alfa Laval Corporate AB
  • AVK Holding AS
  • Bray International
  • Burkert India Pvt. Ltd.
  • Crane Co.
  • Curtiss Wright Corp.
  • Dembla Valves Ltd.
  • Emerson Electric Co.
  • Festo SE and Co. KG
  • Flomatic Corp.
  • Flowserve Corp.
  • Georg Fischer Ltd.
  • Hobbs Valve Ltd.
  • Honeywell International Inc.
  • IMI Critical Engineering
  • KITZ Corp.
  • KSB SE and Co. KGaA
  • Larsen and Toubro Ltd.
  • Neles Corp.
  • OHL Gutermuth Industrial Valves GmbH
  • Schlumberger Ltd.
  • The Weir Group Plc
  • Velan Inc.

 

This statistical study of the butterfly valve market encompasses successful business strategies deployed by the key vendors. The butterfly valve market is fragmented and the vendors are deploying growth strategies such as offering different services for a valve, such as a valve diagnosis service and on-site support for valve installment to compete in the market.

Product Insights and News

  • alfalaval.com - The company offers butterfly valves that are used in stainless steel pipe systems of hygienic and high-purity process applications.

  • alfalaval.com - The energy segment offers various types of heat exchangers.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The butterfly valve market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Butterfly Valve Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the butterfly valve market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Butterfly Valve Market?

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51% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for butterfly valve in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The massive industrial growth in several industries such as oil and gas, automotive, and chemical and petrochemical will facilitate the butterfly valve market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The butterfly valve market in the region witnessed various challenges due to the outbreak of COVID-19 in 2020. India, Pakistan, Bangladesh, and China are some of the countries in the region which were the most affected by the pandemic. In APAC, the growing energy demand is anticipated to revive the growth of the regional butterfly valve market as it will lead to an increase in oil and gas exploration and production activities. While downstream projects command a significant share in oil and gas investments in APAC, several midstream projects are also under development.

What are the Revenue-generating End-user Segments in the Butterfly Valve Market?

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The butterfly valve market share growth in the oil and gas industry segment will be significant during the forecast period. Butterfly valves are used throughout the supply chain of the oil and gas industry in upstream, midstream, and downstream operations. The upstream sector is a major end-user of butterfly valves in the oil and gas industry, owing to the high fluid flow applications. While conventional hydrocarbon exploration is rising, investments in unconventional hydrocarbon are also gaining momentum and are expected to drive the demand for butterfly valves during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the butterfly valve market size and actionable market insights on post COVID-19 impact on each segment.

 

Butterfly Valve Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 4.7%

Market growth 2022-2026

$ 2.66 billion

Market structure

Fragmented

YoY growth (%)

5.16

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 51%

Key consumer countries

US, China, India, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alfa Laval Corporate AB, AVK Holding AS, Bray International, Burkert India Pvt. Ltd., Crane Co., Curtiss Wright Corp., Dembla Valves Ltd., Emerson Electric Co., Festo SE and Co. KG, Flomatic Corp., Flowserve Corp., Georg Fischer Ltd., Hobbs Valve Ltd., Honeywell International Inc., IMI Critical Engineering, KITZ Corp., KSB SE and Co. KGaA, Larsen and Toubro Ltd., Neles Corp., OHL Gutermuth Industrial Valves GmbH, Schlumberger Ltd., The Weir Group Plc, and Velan Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Butterfly Valve Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive butterfly valve market growth during the next five years
  • Precise estimation of the butterfly valve market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the butterfly valve industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of butterfly valve market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Oil and gas Industry - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Oil and gas Industry - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Oil and gas Industry - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Oil and gas Industry - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Oil and gas Industry - Year-over-year growth 2021-2026 (%)
    • 5.4 Water and wastewater industry - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Water and wastewater industry - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Water and wastewater industry - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Water and wastewater industry - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Water and wastewater industry - Year-over-year growth 2021-2026 (%)
    • 5.5 Power generation industry - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Power generation industry - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Power generation industry - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Power generation industry - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Power generation industry - Year-over-year growth 2021-2026 (%)
    • 5.6 Chemical industry - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Chemical industry - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Chemical industry - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Chemical industry - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Chemical industry - Year-over-year growth 2021-2026 (%)
    • 5.7 Others - Market size and forecast 2021-2026
      • Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by End-user
      • Exhibit 48: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 52: Chart on Geographic comparison
      • Exhibit 53: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 India - Market size and forecast 2021-2026
      • Exhibit 86: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.12 Japan - Market size and forecast 2021-2026
      • Exhibit 90: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 91: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 92: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 94: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 95: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 97: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 98: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 99: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 100: Matrix on vendor position and classification
            • 10.3 Alfa Laval Corporate AB
              • Exhibit 101: Alfa Laval Corporate AB - Overview
              • Exhibit 102: Alfa Laval Corporate AB - Business segments
              • Exhibit 103: Alfa Laval Corporate AB - Key news
              • Exhibit 104: Alfa Laval Corporate AB - Key offerings
              • Exhibit 105: Alfa Laval Corporate AB - Segment focus
            • 10.4 Crane Co.
              • Exhibit 106: Crane Co. - Overview
              • Exhibit 107: Crane Co. - Business segments
              • Exhibit 108: Crane Co. - Key offerings
              • Exhibit 109: Crane Co. - Segment focus
            • 10.5 Curtiss Wright Corp.
              • Exhibit 110: Curtiss Wright Corp. - Overview
              • Exhibit 111: Curtiss Wright Corp. - Business segments
              • Exhibit 112: Curtiss Wright Corp. - Key offerings
              • Exhibit 113: Curtiss Wright Corp. - Segment focus
            • 10.6 Emerson Electric Co.
              • Exhibit 114: Emerson Electric Co. - Overview
              • Exhibit 115: Emerson Electric Co. - Business segments
              • Exhibit 116: Emerson Electric Co. - Key news
              • Exhibit 117: Emerson Electric Co. - Key offerings
              • Exhibit 118: Emerson Electric Co. - Segment focus
            • 10.7 Flowserve Corp.
              • Exhibit 119: Flowserve Corp. - Overview
              • Exhibit 120: Flowserve Corp. - Business segments
              • Exhibit 121: Flowserve Corp. - Key news
              • Exhibit 122: Flowserve Corp. - Key offerings
              • Exhibit 123: Flowserve Corp. - Segment focus
            • 10.8 Honeywell International Inc.
              • Exhibit 124: Honeywell International Inc. - Overview
              • Exhibit 125: Honeywell International Inc. - Business segments
              • Exhibit 126: Honeywell International Inc. - Key news
              • Exhibit 127: Honeywell International Inc. - Key offerings
              • Exhibit 128: Honeywell International Inc. - Segment focus
            • 10.9 Larsen and Toubro Ltd.
              • Exhibit 129: Larsen and Toubro Ltd. - Overview
              • Exhibit 130: Larsen and Toubro Ltd. - Business segments
              • Exhibit 131: Larsen and Toubro Ltd. - Key news
              • Exhibit 132: Larsen and Toubro Ltd. - Key offerings
              • Exhibit 133: Larsen and Toubro Ltd. - Segment focus
            • 10.10 Schlumberger Ltd.
              • Exhibit 134: Schlumberger Ltd. - Overview
              • Exhibit 135: Schlumberger Ltd. - Business segments
              • Exhibit 136: Schlumberger Ltd. - Key offerings
              • Exhibit 137: Schlumberger Ltd. - Segment focus
            • 10.11 The Weir Group Plc
              • Exhibit 138: The Weir Group Plc - Overview
              • Exhibit 139: The Weir Group Plc - Business segments
              • Exhibit 140: The Weir Group Plc - Key news
              • Exhibit 141: The Weir Group Plc - Key offerings
              • Exhibit 142: The Weir Group Plc - Segment focus
            • 10.12 Velan Inc.
              • Exhibit 143: Velan Inc. - Overview
              • Exhibit 144: Velan Inc. - Product / Service
              • Exhibit 145: Velan Inc. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 146: Inclusions checklist
                • Exhibit 147: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 148: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 149: Research methodology
                • Exhibit 150: Validation techniques employed for market sizing
                • Exhibit 151: Information sources
              • 11.5 List of abbreviations
                • Exhibit 152: List of abbreviations
              • in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.
                • slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

                  Research Framework

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  INFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases

                  DATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts

                  REPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape

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                  Key Questions Answered

                  • What are the key global market and the regional market share?
                  • What are the revenue-generating key market segments?
                  • What are the key factors driving and challenging this market’s growth?
                  • Who are the key market vendors and their growth strategies?
                  • What are the latest trends influencing the growth of this market?
                  • What are the variables influencing the market growth in the primary regions?
                  • What are the factors influencing the growth of the parent market?

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