Butterfly Valves Market Scope
Butterfly valve is used to regulate the flow of liquid. It works on a mechanism of a rotating disk. The operation of these valves is similar to that of a ball valve which helps in an immediate shut-off. Butterfly valves are mostly favored choice because their cost is lesser other valve designs, and are very lightweight. Further, the growing demand from the oil & gas industry, an upsurge in the deployment of power in industrial processes are few factors driving the butterfly valves market.
According to AMA, the Global Butterfly Valves market is expected to see growth rate of 5.76% and may see market size of USD12.25 Million by 2026.
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Butterfly Valves market throughout the predicted period.
Flowserve (United States), Cameron (United States), Kitz (Japan), KSB SE & Co. KGaA (United States), Johnson Controls (United States), AVK (India), ADAMS (United States), Crane (United States), IMI (India), Parker Hannifin Corporation (United States), Tomoe Valve (United States), Bray International (United States), Watts Water Technologies (United States) and CIRCOR International, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Zwick (Germany), Maezawa Industries (Japan), Hebei Diefei Valve Co., Ltd. (China) and Kirloskar Group (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Butterfly Valves market by Type (Stainless Steel Valves, Cast Iron Valves, Aluminum Valves and Others), by Application (Oil and gas industry, Water and wastewater industry, Power industry, Chemical industry and Others) and Region with country level break-up.
On the basis of geography, the market of Butterfly Valves has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In 2018, Belimo company released a technologically advanced butterfly valve designed specifically for the Heating, Ventilation, and Air Conditioning industry. The newly designed butterfly valve and actuator assembly are the most intelligent, energy efficient, and reliable high flow solution in the HVAC market. With a focus on ease of installation, application flexibility, and longevity, this series sets new performance standards in the HVAC market.
May 2019, KSB SAS, a member of the KSB Group, launched a new type of liner for its ISORIA butterfly valve type series. It is manufactured from hydrogenated nitrile butadiene rubber (HNBR) and certified in accordance with the requirements of the European Food Contact Materials Regulation (EC) 1935/2004. This new approval extends the range of applications for the type series, which has already been approved by the FDA.
Market Trend
- Rising Demand for Butterfly Valves in Emerging Economies
Market Drivers
- Increasing Demand for Energy & Advancement in Oil & Gas Production
- Escalating Usage of Power in Industrial Processes
- Increasing Need for Automation in Process Industry
Opportunities
- Growing Demand for Industrial Infrastructure and Untapped Potential in Emerging Economies
Restraints
- Expensive Cost of Fabricating Industrial Valves
Challenges
- 3D and IIoT-based (Industrial Internet of Things) developments and innovations to help overcome the challenges by the Researchers
Key Target Audience
Butterfly Valves Manufacturers, Industry Association, Downstream Vendors, Marketing & Consulting Firms, Venture Capitalists, Government & Regulatory Bodies and Traders/Suppliers & Distributors