According to FMI, the butterfly valves market will be worth USD 10.3 billion in 2023, and USD 19.4 billion by 2033. Sales of butterfly valves are projected to increase by 6.5% over the projection period.
With the growth of technology and innovations in the industrial automation market, the demand for butterfly valves is expected to increase. For example, NelesTM NeldiscTM metal-seated and JamesburyTM Wafer-SphereTM soft-seated butterfly valves are designed for long-term performance. Soft-seated and metal-seated butterfly valves are both part of a wide range. Control valves and on-off applications benefit from the industry’s top butterfly valves with SIL3 certification.
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. 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
Empower Your Strategy: Request Your Sample and Stay Ahead with Our Actionable Report!
https://www.futuremarketinsights.com/reports/sample/rep-gb-17508
Key Takeaways from the Butterfly Valve 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 the FMI analyst.
Competitive Landscape
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.
Key Players
- Alfa-Laval Corporate AB
- AVK Group
- Cameron
- Crane Co.
- Curtiss-Wright Corporation
- Emerson Electric Co.
- Flowserve Corporation
- KSB Group
- Velan Inc.
- Weir Group
Recent Developments
- In May 2023, ChargePoint Technology and Famat Sampling will collaborate to address one of the toughest containment problems in the industry. A pharmaceutical supplier has developed a valve solution that allows operators to keep sterile integrity during production while taking a product sample for quality analysis. A highly potent and sterile powder sample can be taken using ChargePoint Technology’s split butterfly valve combined with Famat Sampling’s 125-TC/OEL valve.
- In June 2023, Munson Machinery, Utica, New York, USA, will release the VB-1-S316, a 28-liter Vee Cone Blender designed to blend uniformly within 15-30 minutes with minimal degradation of products. Blenders are constructed of 316 stainless steel, which can be finished for use in food, dairy, pharmaceutical, or industrial industry applications.
Fuel Your Business Expansion: Gain Key Insights by Purchasing Our Report!
https://www.futuremarketinsights.com/checkout/17508
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).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
