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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.
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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.
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.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
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.
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.
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.
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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.
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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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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