The Butterfly Valves Market size was estimated at USD 10.97 billion in 2023 and is projected to reach USD 16.64 billion in 2030 at a CAGR of 6.13% during the forecast period 2023-2030.
Butterfly valves are a type of quarter-turn valve used to control the flow of liquids or gases through a pipe. They consist of a circular disc or plate with a pivot axis at its centre. When the valve is rotated a quarter turn, the disc either allows or blocks the flow of fluid, similar to the movement of a butterfly’s wings, hence the name “butterfly valve”. Butterfly valves are commonly used in industries such as water treatment, HVAC systems, chemical processing, food and beverage, and more. Their simple design, ease of operation, and cost-effectiveness make them a versatile choice for controlling the flow of fluids in various applications.
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The prominent players in the Butterfly valves market are
· Alfa Laval Corporate AB
· ASE Engineered Solutions
· AVK Group
· Bray International, Inc.
· Crane Co.
· Curtiss-Wright Corporation
· Dembla Valves Ltd.
· Emerson Electric Co.
· Flexachem
· Flowserve Corporation
· Hobbs Valve Limited
· Huamei Machinery Limited
· KSB Group
· L&T Valves Limited
· NIBCO Inc.
· Schlumberger Limited
· The Weir Group PLC
· Valmet Corporation and More
The growth of the market is being driven by the rising demand for oil and gas industry, increasing demand from water and wastewater treatment industry, development of new technologies and growing demand from the power generation industry. Moreover, the urbanization of cities and the building of infrastructure has increased the demand for the butterfly valves.
However, factors such as competition from other types of valves, high cost of butterfly valves, availability of reasonably priced products and strict set of quality control and safety regulations might hamper the growth of the market.
Recent Developments
In May 2023, John King Group has acquired valve manufacturer DAB Valves for an undisclosed amount. DAB Valves sells a variety of valves and associated equipment within their range from slide and butterfly valves to gravity flap diverter valves and drop out boxes.
In April 2023, two small businesses, JA Moody and Lexair, teamed up to supply the high-spec Keystone K-LOK butterfly valve, used for fuel, lube oil, AFFF and other fluid lines on every class of Navy ship to the U.S. Navy.
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Regional Analysis
Asia-Pacific to Dominate the Market
· Asia-Pacific is estimated to account for the largest market share during the forecast period. In Asia-Pacific, investment in the water & wastewater management industry due to rapid urbanization has led to increase in demand of butterfly valve.
· Moreover, rapid industrialization and urbanization have led to expanding energy sources, increasing pipeline transportation usage, increasing oil and gas reserves, increasing infrastructure projects which is expected to drive the market during the forecast period.
Key Findings
· Based on type, the market is segmented into high-performance butterfly valve, and lined butterfly valve. The high-performance butterfly valve dominated the market in this segment. High performance valves, because of their flow path, high capacity and their ability to pass solid and viscous media, dominated the market in the market in this segment.
· Based on design, the market is bifurcated into concentric butterfly valve, and eccentric butterfly valve. The eccentric butterfly valve dominated the market in this segment. The recommended flow direction for erosive applications is with the shaft upstream on an eccentric plug valve. In the port or outlet area, high velocity flow is isolated. The seat ring and retainer can be easily maintained and protected by using erosion resistant materials. These factors have led to the growth of the eccentric butterfly valve market.
· Based on material type, the market is segmented into stainless steel valves, cast iron valves, and others. Stainless steel valves dominated the market in this segment. Stainless steel butterfly valves are strong, durable, and resistant to corrosion and wear and tear, making them a good choice for a wide range of applications.
· Based on function, the market is segmented into on/off valve, and control valve. The on/off valve dominated the market in this segment. These valves offer long-term tight shut-off, quick and safe operation and lower fugitive emissions.
· Based on end user, the market is bifurcated into oil & gas, water & wastewater, energy & power, pharmaceutical, and chemical. Oil & Gas sector dominated the market in this segment. This growth can be attributed to increase in demand for butterfly valves in oil & gas downstream applications.
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