DUBLIN--(BUSINESS WIRE)--The "Butterfly Valves Market by Type, Mechanism, Function, and End Users: Global Opportunity Analysis and Industry Forecast, 2018-2025" report has been added to ResearchAndMarkets.com's offering.
The global butterfly valves market size is expected to reach $13,667.0 million by 2025 from $8,282.61 million in 2017, growing at a CAGR of 6.3% from 2018 to 2025.
Butterfly valve is used in industrial application for isolating and regulating the flow of fluid. These valves exhibit simple construction, consume less space, and are lightweight as compared to other valves. In addition, cost of butterfly valve is very less than other isolation valves. Companies such as Emerson, Flowserve Corporation, AVK Group, and others are some of the leading players in the global butterfly valves market.
Increase in demand from the oil & gas industry, rise in number of industrial infrastructures, surge in usage of power in industrial processes, and growth in demand for need for automation in the process industries are expected to drive the market growth. However, increase in competition from domestic players and high threat of corrosion and choke are expected to hinder the growth of the butterfly valves market.
The global butterfly valves market is segmented on based on type, mechanism, function, end user, and region. Based on type, the market is bifurcated into high performance butterfly valves and lined butterfly valves. The mechanism segment is further classified into centric butterfly valves and eccentric butterfly valves. The end user segment is divided into oil & gas, electric power, water & wastewater, chemical, and other industries.
The key players operating in the market include Emerson Electric Co., Flowserve Corporation, Cameron, Alfa-Laval Corporate AB, AVK Group, Crane Co., Weir Group, Curtiss-Wright Corporation, KSB Group, and Velan Inc.
Market dynamics
Drivers
- Increasing demand from the oil & gas industry
- Rising number of industrial infrastructure and surge in usage of power in industrial processes
- Gradual increase in the need for automation in the process industries
Restraints
- Competition from domestic manufacturers
- High possibility of cavitation & choke and limited throttling in case of low pressure
Opportunities
- Emerging economies are boosting their investment in Oil & Gas industry, a major market for butterfly valves
Key findings
- Top impacting factors
- Top investment pockets
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