Butterfly Valve Market Share

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.