Global High-performance butterfly valve market by Type (Rubber seated BV, and Offset HPBV)
Industry: Industrial Automation
Format: PPT*, PDF, EXCEL
Published Date: December-2022
ID: PMRREP33003
Number of Pages: 313
[313 Pages] Persistence Market Research’s data and analysis reveal that the High-performance butterfly valve market revenue totalled US$ 6,240.8 Mn for 2022. The overall High-performance butterfly valve market is expected to reach US$ 14,577.9 Mn by 2033, growing at a CAGR of 8.1% from 2023 to 33.
High-performance butterfly valve also known as a double offset butterfly valve is provided with a cutting-edge design that guarantees tough durability and incredibly easy on-field maintenance. High-performance butterfly valves are often designed for use with high-pressure pipe systems. Many industrial applications, such as throttling control, require high-performance butterfly valves. Growing requirement for accurate flow control technology has contributed to increased demand for high-performance butterfly valves from industries such as oil & gas, power generation, and chemicals. In the upcoming years, key manufacturers are also anticipated to launch new product lines to support market growth. Additionally, more advantages of this valve such as the Superior start-stop feature, suitable for use with liquids and slurries that contain suspended solids, lightweight, and simple to install increases its demand, which drives the global high-performance butterfly valve market.
| Attributes | Key Insights |
|---|---|
|
Global High-performance butterfly valve market Size (2022A) |
US$ 6,240.8 Mn |
|
Global High-performance butterfly valve market Size (2023E) |
US$ 6,690.2 Mn |
|
Projected High-performance butterfly valve market Value (2033F) |
US$ 14,577.9 Mn |
|
Value CAGR (2023-2033) |
8.1% |
|
Collective Value Share: Top 3 Countries (2023) |
41.3% |
The global High-performance butterfly valve market accounts for ~ 35 to 40% of its parent market the butterfly valve market.
From 2017 to 2022, the market for High-performance butterfly valve market increased at a 4.6% CAGR and is projected to grow at a value of a CAGR of 8.1% in the forecast period 2023 to 2033. This increase in YOY growth in 2023 is higher because of factors including the rising industrial sector like development in the chemical and water industry & widespread adoption of this type of valve in various industrial sectors.
Global demand for high-performance butterfly valves has increased as a result of growing industrial infrastructure in many economies, which is driving demand for complementary flow control equipment. These items are used in entities that include liquids, gases, and fluids, hence they are essential for controlling and analysing liquid flow. Due to their superior efficiency compared to other valves, high-performance butterfly valves are appreciated by many companies and pipeline workers worldwide. This is forecasted to boost the market to reach US$ 14,577.9 Mn by the end of 2033.
The market for high-performance butterfly valves is expanding primarily as a result of increased worldwide industrialization, growth in the oil and gas industry, and rising demand in power generation industries globally. Additionally, the key advantageous features provided by high-performance butterfly valve is also driving the market globally.
High-performance butterfly valves or double eccentric butterfly valves can tolerate the passage of corrosive liquids and gases. These control valves are constructed with fire-resistant material and design. These valves are more effective at regulating fluid flow and avoiding the over-travel of fluids traveling into it. To ensure there are no external leaks, each of these valves is additionally constructed with adjustable packing glands. Traditional butterfly valves could not handle the maximum pressure and temperature range operating in industrial operations. High-performance butterfly valves can meet this requirement of high operating conditions. High-performance butterfly valves are simple, lightweight, inexpensive, have a compact structure, and also have the benefit of minimal operating torque. The advantage of using these valves in industrial operations is driving their demand in the global market.
The market's expansion is also fuelled by the rise in industrialization, which is also accompanied by the trend toward automation in the oil and gas sector. The extraction of crude oil and gas from oil terminals, depots, and refineries makes substantial use of these high-performance butterfly valves. Additionally, they help the industrial manufacturing process run more smoothly and efficiently. The market growth is also anticipated to be accelerated by rising investments in power generation in developing countries.
Industries such as oil and gas, chemical, and other water & wastewater industrial sectors are now becoming increasingly aware of the safety and hazard precautions in their industrial area to lower the risk of leakages and to improve their productivity. Owing to this industry are becoming more automated with the incorporation of the Industrial Internet of Things (IIoT) for performance enhancements of these valves. This is creating lucrative opportunities for the future expansion of the global market for the High-performance butterfly valve market.
Most global economies are expanding their industrial infrastructure rapidly to meet the increasing demand for oil, chemicals, and energy demand. Large petrochemical plants, refineries, power plants, and wastewater industries are experienced lucrative growth in recent years. Furthermore, an increase in investment in the power generation sector in most of the country is fuelling the demand for high-performance butterfly valves in maximum numbers. Thus, the rise in industrial infrastructure creates various growth opportunities for the High-performance butterfly valve market across the Globe.
What is the Outlook for the High-performance butterfly valve market in India?
India is anticipated to expand at a CAGR of 8.3% from 2023 to 2033. Throughout the forecast period of 2023–2033, India is anticipated to hold a significant share of the global market.
Asia's second-largest refiner is India, after China. With a refining capacity that exceeds demand, India becoming a refinery hub in Asia. According to the latest data, the nation's total capacity for refineries has increased to 247.57 MTPA. The primary factor driving the market is the country's rising annual demand for oil and gas owing to expanding economy and population. Moreover, over the next five years, the Indian government aims to double the network of gas pipelines, which is currently 19,000 km in 2021. Thus, these developing factors drive the global market of high-performance butterfly valves in India.
How is the Germany market for High-performance butterfly valves markets likely to explode?
Germany is one of the most lucrative markets for High-performance butterfly valve markets in the Europe region, and it is hold around 7.5% value share of the global High-performance butterfly valve market.
Germany, one of the top nations in the chemical sector, is expected to account for increasing shipments of high-performance butterfly valves during the next ten years. Key industries like oil production, mining, and power generation are the most developed sector in the country during the past few years. Furthermore, growth in the usage of pipelines for the water treatment plant, desalination initiatives, oil and gas transportation, and treatment in various processing sectors, drives the market for high-performance butterfly valves in the country.
Where Does the U.S. stand in the market for High-performance butterfly valves markets?
One of the most attractive markets in the North America region for the High-performance butterfly valve market is the U.S., which accounts for a 27.4% value share in the global High-performance butterfly valve market.
The major source of revenue for the High-performance butterfly valve market is one of the largest and most developed countries like the U.S., safety and hazard precautions in the industrial environment, the sizeable manufacturing industry in the country, and the widespread adoption of automated and technical solutions in industrial environments are the main drivers of the rise in demand for high-performance butterfly valves in end-use sectors, which increases its market value in the nation.
Which Type of High-performance butterfly valve market remains Significant?
The Offset High-Performance Butterfly Valves segment leads the High-performance butterfly valve market by Type and it is having a value share of 58.4% in the global market.
In the offset high-performance butterfly valve, the media passing through the valve does not make contact with the body. This offset valve can handle abrasive applications, coatings, food, certain powders, and chemicals. These factors are anticipated to increase the adoption of offset high-performance butterfly valves in the global market prominently.
Which End-use accounts for Higher Sales in the High-performance butterfly valve market?
The Oil & Gas segment dominates the global High-performance butterfly valve market by End-use and is expected to hold its position until the end of the forecast period, having a value share of 28.0%.
The industry segment for oil and gas is predicted to develop at the highest CAGR over the forecast period. The world's infrastructure and economies continue to be significantly dependent on products made from petroleum, which has led to an increase in global dependence on oil and gas. stainless steel type of high-performance butterfly valve is in prominent demand from the oil and gas industry.
The market for high-performance butterfly valve market is fragmented, with the top players holding about 30% of the market. Key manufacturers of high-performance butterfly valves are likely to concentrate on merger and acquisition activities to broaden their product lines and improve their market share.
| Attribute | Details |
|---|---|
|
Forecast Period |
2023-2033 |
|
Historical Data Available for |
2017-2022 |
|
Market Analysis |
|
|
Key Regions Covered |
|
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Pricing |
Available upon Request |
By Type:
By Material:
By End Connection:
By Application:
By End User:
By Region:
Kindly get in touch with our sales representative for information on delivery timeline of this report.
The global High-performance butterfly valve market is estimated to be valued at over US$ 6,690.2 Mn as of 2023.
High-performance butterfly valve markets are projected to increase at 8.1% CAGR and are expected to be valued at around US$ 14,577.9 Mn by 2033 end.
Emerson Electric Co., The Flowserve Corporation, Crane Co., Baker Hughes, Forum Energy Technologies Inc., etc.
U.S., Germany, China, India, and Japan are driving most of the demand for the High-performance butterfly valve market.
China, the U.S., and Germany are major producers and exporters of High-performance butterfly valve market.
