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Butterfly Valve Market Size

Report ID: GMI10192
Published Date: Jul 2024
Report Format: PDF

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Butterfly Valve Market Size

Butterfly Valve Market was valued at USD 10.8 billion in 2023 and is estimated to grow at a CAGR of 5% during 2024 to 2032. A significant driver is the demand for butterfly valves in the oil and gas industry, particularly for applications requiring stainless steel variants due to their high-pressure tolerance and minimal maintenance needs. These valves are used for extraction, refining, and transportation of oil and gas.

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Butterfly valves offer a simple quarter-turn operation for opening and closing, making them ideal for automated processes. This aligns with the growing trend towards automation in various industries to improve efficiency and safety. The chemical processing industry relies on butterfly valves for regulating fluid flow in various processes. Their ease of operation and tight shut-off properties make them a preferred choice. The rising demand for power generation, both from conventional and renewable sources, necessitates the use of butterfly valves in power plants for fluid flow control.

Butterfly Valve Market Report Attributes
Report Attribute	Details
Base Year:	2023
Butterfly Valve Market Size in 2023:	USD 10.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5%
2032 Value Projection:	USD 16.6 Billion
Historical Data for:	2021 - 2023
No. of Pages:	487
Tables, Charts & Figures:	428
Segments covered:	Lining Type, Material, Mounting type, End-use, Distribution Channel, Region
Growth Drivers:	Growing oil and gas industry Growing chemicals industry Increasing water treatment applications Advancements in technology
Pitfalls & Challenges:	Intense competition and market saturation Effectiveness concerns

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The market is fragmented with numerous regional and niche players. This can lead to intense competition and price pressure, especially for standard butterfly valve offerings. While butterfly valves generally offer good shut-off capabilities, wear and tear over time can lead to potential leakage issues. Regular maintenance and potential replacement of worn-out parts are crucial to ensure continued leak-proof operation.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of butterfly valve was reached USD 10.8 billion in 2023 and is expected to register 5% CAGR from 2024 to 2032, owing to its use in applications requiring stainless steel variants due to their high-pressure tolerance and minimal maintenance needs worldwide.

Butterfly valve industry from the plastic lined segment is expected to cross USD 7.8 billion by 2032, due to offering exceptional resistance to a broad spectrum of corrosive chemicals, making them suitable for highly aggressive environments.

North America butterfly valve industry is likely to exceed USD 4.4 billion by 2032, due to the region being a significant producer and consumer of oil and gas and therefore, having extensive usage of butterfly valve.

AVK Group, Bray International, Inc., Crane Co., Curtiss-Wright Corporation, DeZURIK, Inc., Emerson Electric Co., Flowserve Corporation, Grundfos, Honeywell International Inc., Neles, SPX FLOW, Inc., Velan Inc., Weir Group, and Xylem, are some of the major butterfly valve companies worldwide.