Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Butterfly Valve Market size was valued at USD 8.22 billion in 2024 and is anticipated to reach USD 20.7 billion by the end of 2037, expanding at around 7.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of butterfly valve is assessed at USD 8.71 billion.
The growth of the market can be attributed primarily to the increasing crude oil and gas extraction worldwide. For instance, crude oil extraction accounted for 34 million metric tonnes (MMT) in the financial year 2018-19 in India.
Butterfly valves are three-way, rotary valves that are used for starting, regulating, and stopping gas or liquid flow through pipes. The actuator is made up of two semi-circular plates hinged at the center, a seal, stem, disc, handles and gears, and an actuator. This device is extremely reliable, economical, and requires little maintenance, and has a wide range of applications in the power generation industry, the oil and gas industry, and others. Moreover, a rise in butterfly valve production using 3D printing, combined with industrial Internet of Things (IIoT) for improved performance is further expected to drive market growth during the forecast period.
Butterfly Valve Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Urbanization And Industrialization – Approximately 4.5 million people are considered urban in the World Bank's statistics, which is 57% of the total population. The number of people living in urban areas is projected to double over the next two decades with 7 out of 10 people in urban areas. The rapid urbanization and industrialization of the world have fueled high demand for butterfly valves in a variety of end use industries, such as oil and gas, chemicals, and automotive. During oil extraction, butterfly valves isolate or regulate the flow of oil. This increased demand is anticipated to speed up the growth rate of the global butterfly valve market.
- Growing Energy Consumption Worldwide- For instance, in 2018, the global energy demand grew by 2.8%, and by 2040, global energy consumption is expected to reach 730 million terajoules, an increase of 29%.
- Rising Investments In Power Sector- According to estimates, it is predicted that the Indian power sector is set to receive investments worth USD 120 to 130 billion between FY19 and FY23.
- Expansion of the Automotive Sector- For instance, the Indian automotive industry is expected to generate 200 billion dollars by 2031, making it the world's third largest industry.
- Increasing Research and Development Spending- As of 2020, the World Bank estimates global research and development expenditures were 2.63% of GDP. A significant increase from the 2.2% reported in 2018.
Challenges
- Increasing Price Of Butterfly Valve
- High Manufacturing Cost
- Presence Of Low-Cost Product in The Market
Butterfly Valve Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.3% |
|
Base Year Market Size (2024) |
USD 8.22 billion |
|
Forecast Year Market Size (2037) |
USD 20.7 billion |
|
Regional Scope |
|
Butterfly Valve Segmentation
End-user (Oil, Gas, Water, Wastewater, Power Generation, Chemical)
The global butterfly valve market is segmented and analyzed for demand and supply by end user into the oil and gas industry, water and wastewater industry, power generation industry, chemical industry, and others. Among these segments, the oil and gas industry segment captured the largest share in the global market, owing to the rising demand for stainless steel butterfly valves in the extraction of oil. Oil and gas facilities require deeper pipelines and bigger wells to reduce production costs, which require highly specialized equipment. Moreover, the increase demand for butterfly valves in shale gas as an energy source is expected to augment segment growth over the forecast period.
Our in-depth analysis of the global market includes the following segments:
|
By Type |
|
|
By Application |
|
|
By Function Type |
|
|
By End User |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportButterfly Valve Industry - Regional Synopsis
Regionally, the global butterfly valve market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific will account highest revenue share of 40% by 2037, owing to the expansion of the oil and gas industry in the region. For instance, the government of India plans to commercialize 48 percent of its SPRs (strategic petroleum reserves) in order to raise funds and build additional storage tanks in order to cope with high oil prices. Furthermore, the usage of butterfly valves in various end use industries, along with the rising need for wastewater management in the region particularly in China, Japan, and India, and the growing exploration & manufacturing activities in the region are expected to drive the market in the region during the forecast period.
Companies Dominating the Butterfly Valve Landscape
- Valmet Oyj
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Pentair
- Emerson Electric Co.
- Schlumberger Limited.
- The Weir Group PLC
- Bray International
- Velan, Inc.
- L&T Valves Limited
- Flowserve Corporation
- Adams Armaturen GmbH
In the News
-
A new TESCOM Anderson Greenwood Instrumentation H2 Valve Series has been launched by Emerson Electric Co to meet the needs of hydrogen applications up to 15,000 pounds per square inch (psi) (103.4 megapascals (MPa).
-
Neles Corporation (Valmet Oyj) has launched a range of versatile butterfly valves for superior process performance and minimal environmental impact
Author Credits: Saima Khursheed
- Report ID: 4444
- Published Date: Oct 11, 2024
- Report Format: PDF, PPT
