Triple Offset Butterfly Valves Market

Global Market Study on Triple Offset Butterfly Valves: High Demand for Zero Leakage Valves in Energy and Industrial Sectors

Triple Offset Butterfly Valves Segmented By Cast Steel, Stainless Steel, Cast Iron Material in Small, Medium and Larger Size

About the Report

The triple offset butterfly valves market has witnessed substantial growth in the last few years. This growth is projected to continue over the coming years as well, due to their increasing usage in place of zero offset valves and double offset butterfly valves across end-use industries. These valves exhibit usefulness across diverse industries, including oil & gas, water & waste water treatment, and others. Considering this, increasing exploration of new oil & gas fields and new water & waste water treatment projects will create scope for application, encouraging growth over the coming years.

In its new study, ESOMAR-certified market research and consulting firm Persistence Market Research offers insights about key factors fuelling the demand for triple offset butterfly valves. The report tracks global sales in 20+ high-growth markets, where Asia, North America, and Europe lead the way, along with analyzing the impact COVID-19 has had on the oil & gas industry in general, and triple offset butterfly valves market in particular.

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Companies

  • Emerson Electric Co.
  • The Flowserve Corporation
  • Cameron International Corporation (Schlumberger)
  • Adams Armaturen GmbH
  • L&T Valves Limited
  • Neles Oyj
  • The Weir Group
  • Bray International, Inc.
  • Hobbs Valve
  • GWC Italia SpA
  • RAC Energy S.r.l.
  • OMb Group (Fluicon Valves)
  • Velan, Inc.
  • Dembla Valves Ltd.
  • The Crane Company
  • OHL Gutermuth Industrial Valves GmbH
  • Value Valves CO., LTD
  • Advance Valves Private Limited

What Does the Future Outlook Look Like for Triple Offset Butterfly Valves in Comparison to Historic Patterns?

Facing challenges such as high pressure and high temperature efficiencies has always been one of the prime concerns of end users. Choosing the correct triple offset butterfly valve for specific application has been difficult for industries; hence, manufacturers have increased the number of features and efficiency levels in these valves with respect to industry-specific.

The market is likely to gain significantly from the launch of automated triple offset butterfly valves in the near future, meant to handle several functions within emergency systems. This will not only help end-use industries tackle safety concerns but will enable end users accidental-free operations with low maintenance and extended valve life. Some of the leading manufacturers have already launched automated triple offset butterfly valves, and several others are likely to follow suit to keep pace with the dynamic environment.

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According to Persistence Market Research’s analysis, triple offset butterfly valve sales have grown at 2.9% CAGR from 2016 to 2020.

Triple offset butterfly valves have been consistently employed in oil & gas, chemical, and power generation industries. Owing to the ongoing crisis caused by the COVID-19 pandemic, production and supply chain activities have seen a minor slump, yet consumption will improve with economic recovery post the containment period following the pandemic.

The COVID-19 pandemic has had a severe impact on the global economy at various levels, and the impact is seen on end-use industries as well. The growth of the triple offset butterfly valves market is also projected to be affected by the COVID-19 pandemic crisis, and witnessed a significant plunge in 2020. With a number of end-use industries affected in regions such as North America, East Asia, and Asia Pacific, supply and shortage in demand were experienced. Yet, Persistence Market Research expects the global triple offset butterfly valves market to expand at over 4 % CAGR through 2031.

 

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What is the Commercial Potential of Triple Offset Butterfly Valves?

Triple offset butterfly valves are mostly used in the oil & gas industry for high-temperature oils and gases, as well as high pressure over 150 pound force per square inch (PSI). These valves outperform traditional valves with increased durability, reliability, and lower ownership cost. The seat of the triple offset butterfly valve is designed to minimize wear, provide lower maintenance cost, and extend service life. Also, zero leakage sealing capabilities of triple offset butterfly valves allows processes to operate reliably at top efficiency, even in extreme conditions.

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Why is R&D Key to Market Consolidation?

Prime manufacturers are investing more in research & development activities to manufacture advanced and automated triple offset butterfly valves, especially in the butterfly valves segment. Competitive price offerings, increase in end-user satisfaction regarding performance, and use of advanced technologies are the end results of R&D activities. Increasing research & development through collaboration or partnerships helps companies launch new and innovative products in the market.

Moreover, establishing sales and service facilities in emerging countries, coupled with long-term partnerships with regional distributors also paves the way for expansion of channel reach.

global-triple-offset-butterfly-valves-market

Country-wise Insights

Why is the U.S. a Large Market for Triple Offset Butterfly Valves?

Persistence Market Research has projected North America to remain one of the most lucrative markets throughout the course of the forecast period. One of the key factors supporting this is growth of oil & gas, chemical, and power generation industries in the country.

As the U.S. is one of the leading producers of oil & gas in the global market, new shell gas projects in the country have accelerated, and are expected to increase total sales of triple offset butterfly valves during the forecast period.

Attributing to these factors, the U.S. remains one of the largest markets for triple offset butterfly valves, which invariably makes it a lucrative pocket for manufacturers.

Why is Demand in Germany Highest in Europe?

Being the largest shareholder in the European region, the Germany triple offset butterfly valves market is pegged to grow around 4.1% during 2021-2031. In recent years, manufacturers have been gradually developing a new customer base in the country.

As the German water & waste water treatment sector is rising very well, demand is expected to surge. Drivers of the country are demand for fresh water across end-use industries and increasing treatment of industrial waste.

How is India Faring in the Triple Offset Butterfly Valves Landscape?

India is the largest market in the South Asia & Pacific triple offset butterfly valves market. The oil & gas and chemical industry has emerged as important end users in the country. India is pegged to expand at a CAGR of around 4% during 2021-2031, which is considerable growth rate considering South Asia & Pacific.

Increased emphasis on fresh water and government stringent regulations toward industrial waste management have led to substantial growth of the India triple offset butterfly valves market, and trend that will continue through 2031.

Why is there Huge Potential for Triple Offset Butterfly Valves in GCC Countries?

GCC countries such as Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Oman, and Qatar are home to the largest concentration of oil exporters, and collectively produce over one-fifth of the global oil supply. Oil remains critical to both, external and fiscal revenues of GCC countries.

The market in GCC countries is pegged to expand at a CAGR of 6% during 2021-2031, which is highest growth rate in the region.

Why are Triple Offset Butterfly Valve Manufacturers Eyeing China?

The Chinese triple offset butterfly valves market is expected to be amongst the most opportunistic after the U.S., owing to increased oil & gas exploration activities in the country. Along will more number of manufacturers in China, end-use industries have also increased due to rise in oil & gas projects across the country.

Category-wise Insights

Why are Stainless Steel Triple Offset Butterfly Valve Popular?

Demand for different material types varies from industry to industry, as in oil & gas and chemical industries, stainless steel is expected to contribute a significant share to the market. Demand for stainless steel triple offset butterfly valves is expected to surge over the forecast, as they are used to prevent galling and scratching between metal seats and metal discs due to their unique design. These unique properties among key players who are constantly designing, developing, and launching new valves.

Which Size of Triple Offset Butterfly Valves is Most Widely Used?

Globally, medium size (10-25 inches) is the largest segment in the triple offset butterfly valves market. Medium size valves hold a major market share, and the segment is expected to expand at a CAGR of 4.3% across 2021-2031. More number of product variants and specifications in the range of medium size valves gives more flexibility for customers to choose the appropriate valve for specific applications.

Why the Oil & Gas Industry Continue being the Largest End User?

The oil & gas industry has the largest market share among all the end-use industries of triple offset butterfly valves, owing to highest demand for usage in oil & gas projects. The chemical industry holds the second position in the market, owing to increased demand for end-use chemicals, new setups, and expansion of chemical plants across globe.  

Opportunities in Triple Offset Butterfly Valves Market

According to Persistence Market Research, demand for triple offset butterfly valves will be higher for existing oil & gas, chemical, and power generation industries for different purposes of application. Moreover, newly developed triple offset butterfly valves provide lucrative opportunities in oil & gas and chemical industries. This will enhances growth in new areas for further oil & gas exploration, and would help in enhancing compatibility with future appraisal and development activities.

Competitive Landscape

The triple offset butterfly valves market is a moderately competitive in nature, dominated by global players offering cost-competitive products. Some of the players are focusing on carving a niche for specific demographics, where key players hold major market value share. It is characterized by a large supplier base and strong B2B networks. There are robust partnerships throughout the value chain. There is ample focus on strong research & development activities with innovations being key. Companies operating in the triple offset butterfly valves market are aiming at strategic collaborations with end users and regional distributors to address the requirements of an expanding customer base. Suppliers are also adopting acquisition and regional expansion strategies to establish a strong foothold. Brand consciousness and aggressive marketing makes it challenging for new entrants in this market. Furthermore, the advent of online sales channels is also expected to create positive growth prospects for triple offset butterfly valves.

For instance,

  • Pentair Valves & Controls announced the expansion of its Vanessa Triple Offset Valves (TOVs) product line with the launch of the Series 30-RS. The new manual triple offset valve is designed to address the need for zero leakage isolation in non-critical applications in the oil & gas and process industries.
  • RAYS Valves launched a new design of triple offset full metal seated butterfly valves for LNG, air separation, cryogenic methanol cleaning and other low-temperature fields, coal chemical industry, mineral slurry transport, catalysts, and other wear-resistant working conditions.

Some of the leading companies operating in the market are:

  • Emerson Electric Co.
  • The Flowserve Corporation
  • Cameron International Corp.
  • Adams Armaturen GmbH
  • L&T Valves Limited
  • Neles Oyj
  • The Weir Group
  • Bray International, Inc.
  • Velan, Inc.
  • The Crane Company

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of Report

Attribute Details
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis USD Million for Value and Units for Volume
Key Regions Covered
  • North America
  • Latin America Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa
Key Countries Covered
  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia
  • New Zealand
  • Turkey
  • Northern Africa
  • South Africa
Key Companies Profiled
  • Emerson Electric Co.
  • The Flowserve Corporation
  • Cameron International Corp.
  • Adams Armaturen GmbH
  • L&T Valves Limited
  • Neles Oyj
  • The Weir Group
  • Bray International, Inc.
  • Velan, Inc.
  • The Crane Company
Report Coverage
  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives
Customization & Pricing Available upon Request

Triple Offset Butterfly Valves Market by Category

  • By Material
    • Cast Steel
    • Stainless Steel
    • Cast Iron
    • Others
  • By Size
    • Small (Up to 10 inches)
    • Medium (10-25 inches)
    • Large (Above 25 inches)
  • By End-use Industry
    • Oil and Gas
    • Chemicals & Petrochemicals
    • Power Generation
    • Pulp & Paper
    • Metals & Mining
    • Food & Beverages
    • Pharmaceutical & Healthcare
    • Water & Wastewater Treatment
    • Others
  • By Region
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

Key Questions Answered in Report

Q1. Which is the most lucrative market for triple offset butterfly valves?

The U.S. currently leads the global market for triple offset butterfly valves market. Sales in the country will be over 15% of total global demand throughout the forecast period.

Q2. Which are the top-selling materials in triple offset butterfly valves?

Stainless steel triple offset butterfly valves have significant demand across end-use industries, which is expected to remain high in the near future, especially due to its efficiency in wide range of end-use industry applications and intense penetration in all regions.

Q3. Which end-use industry demands the highest requirement of triple offset butterfly valves?

Triple offset butterfly valves are widely used in oil & gas applications. Their usage in handling high-pressure and high-temperature gases and oils is rising day-by-day.

Q4. Which are some of the leading companies providing triple offset butterfly valves?

Some of the leading companies manufacturing triple offset butterfly valves are Emerson Electric Co., The Flowserve Corporation, Cameron International Corporation, The Weir Group, Bray International, Velan, Inc., etc.

Q5. Which size of triple offset butterfly valves is most widely used?

Medium size (10-25 inches) is the most used triple offset butterfly valves across end-use industries.

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Is this research conducted by Persistence Market Research?

Yes, the research has been conducted by expert analysts of Persistence Market Research, through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

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What are the sources of secondary research?

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