Global Concentric Butterfly Valves Market Size By Material, By Size, By Actuator Type, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Concentric Butterfly Valves Market Size By Material, By Size, By Actuator Type, By Geographic Scope And Forecast
Concentric Butterfly Valves Market Size And Forecast
Concentric Butterfly Valves Market size was valued at USD 2.2 Billion in 2023 and is projected to reach USD 4.1 Billion by 2030, growing at a CAGR of 7.5% during the forecast period 2024-2030.
Global Concentric Butterfly Valves Market Drivers
The market drivers for the Concentric Butterfly Valves Market can be influenced by various factors. These may include
Growing Infrastructure Development and Industrialization The increasing global infrastructure development initiatives and the expanding industrial sector are driving the need for concentric butterfly valves, which are crucial parts of fluid control systems.
Projects for treating wastewater and water As a result of growing awareness of environmental rules and water shortages, there is a growing demand for butterfly valves for fluid management in water and wastewater treatment facilities.
Growth of the Energy Sector Butterfly valves are more important as the energy industry grows because they control and regulate fluid flow in pipelines and processes. This includes electricity generation, renewable energy initiatives, and the extraction and processing of oil and gas.
Put Automation and Process Efficiency First Butterfly valves are becoming essential parts of fluid control systems because of the emphasis on increasing process automation and efficiency across a range of industries.
Strict Safety and Environmental Regulations Exceeding environmental protection and safety standards rules push industries to invest in dependable and effective valve solutions, such as concentric butterfly valves.
Expanding Petrochemical and Chemical Sector The need for butterfly valves in processes like chemical processing and petrochemical refining is fueled by the growth of the chemical and petrochemical industries, which place a strong emphasis on fluid handling and processing.
Quick Urbanization and Building Activity The need for butterfly valves in water distribution, building services, and HVAC (heating, ventilation, and air conditioning) systems is influenced by urbanization and construction projects.
Projects Using Renewable Energy Butterfly valves are utilized in cooling systems, fluid circuits, and energy generation processes. Opportunities for these valves are created by the development of renewable energy projects, such as solar and wind power plants.
Technological Progress in the Design of Valves Constant improvements in valve design, material science, and manufacturing techniques boost the effectiveness, dependability, and efficiency of concentric butterfly valves, which promotes their widespread use.
Demand from Production and Exploration of Oil and Gas The need for butterfly valves for pipeline control, gas processing, and refining is driven by the exploration and production activities in the oil and gas industry.
Global Concentric Butterfly Valves Market Restraints
Several factors can act as restraints or challenges for the Concentric Butterfly Valves Market. These may include
Alternative Valve Technologies’ Competition The market share of concentric butterfly valves may be impacted by competition from other valve technologies, such as ball and gate valves, in the butterfly valve industry.
Cost The fluctuation of raw materials Price volatility may impact overall pricing strategies and production costs by changing the prices of raw materials like metals and alloys that are used to make butterfly valves.
The COVID-19 Pandemic’s effects The need for concentric butterfly valves has been impacted by the global COVID-19 epidemic, which has caused disruptions to supply chains, manufacturing processes, and project timetables. This could cause infrastructure and industrial projects to be delayed.
Strict Environmental Rules Increasing environmental norms and regulations could force valve manufacturers to comply with more criteria, which could impact their production methods and drive up costs.
susceptibility to recessions in the economy Recessions and downturns in the economy can result in less money being invested in infrastructure and industrial projects, which can have an impact on the demand for concentric butterfly valves across a range of end-use industries.
Restricted Acceptance in Applications with High PressureCompared to other valve types, concentrated butterfly valves may not be as suitable for high-pressure applications, which could limit their use in some industries where high-pressure circumstances are common.
Difficulties with Severe Service UsesConcentric butterfly valves may not be suitable for severe service applications, such as those with high temperatures, corrosive environments, or abrasive fluids. In these cases, specialist valve types are preferred.
Fears Regarding Leakage In sensitive applications where tight shut-off is essential, certain customers may voice concerns regarding possible leakage issues related to concentric butterfly valves.
Limited Range of Temperature The temperature range in which concentrated butterfly valves may function properly may be restricted, which may affect which industrial processes they are suitable for.
Customization DifficultiesIndustries with particular or unusual requirements may find that concentric butterfly valves offer less customizing options than certain other valve types.
Global Concentric Butterfly Valves Market Segmentation Analysis
The Global Concentric Butterfly Valves Market is Segmented based on Material, Size, Actuator Type, And Geography.
Concentric Butterfly Valves Market, By Material
Stainless steelA material of choice because of its adaptability to a wide range of uses, durability, and resistance to corrosion.
Ductile IronDuctile iron is becoming more and more popular in areas where cost is a factor in applications that aren’t as demanding.
High-Performance AlloysUtilized in harsh settings with high pressure, temperatures, and corrosive substances.
Composite MaterialsA new market with the potential to produce inexpensive, lightweight valves for certain uses.
Concentric Butterfly Valves Market, By Size
Tiny (<3 inches)Frequently found in low-pressure applications like as food and beverage processing, commercial and residential plumbing systems, and others.
Medium (3-12 inches)Widely utilized in water treatment, chemical processing, oil and gas pipelines, and numerous industrial applications.
Large (>12 inches)Found in high-flow and high-pressure applications such as large-scale water treatment facilities, oil and gas pipelines, and power production.
Concentric Butterfly Valves Market, By Actuator Type
ManualAn easy-to-use and reasonably priced low-frequency operating alternative.
Pneumaticdependable and quick to respond in industrial settings.
ElectricPrecise control and integration with automation systems, increasing favor in modern facilities.
HydraulicHigh-power hydraulic alternative for demanding applications involving large loads
Concentric Butterfly Valves Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Concentric Butterfly Valves Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Concentric Butterfly Valves Market are
Flowserve Corporation (US)
Emerson Electric Co. (US)
Alfa Laval Corporate AB (Sweden)
Weir Group PLC (UK)
Honeywell International Inc. (US)
Parker Hannifin Corporation (US)
Schlumberger Limited (US)
GE Power (US)
ITT Corporation (US)
Crane Co. (US)
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Flowserve Corporation (US), Emerson Electric Co. (US), Alfa Laval Corporate AB (Sweden), Weir Group PLC (UK), Honeywell International Inc. (US), Parker Hannifin Corporation (US), Schlumberger Limited (US), GE Power (US), ITT Corporation (US), Crane Co. (US)
SEGMENTS COVERED
By Material, By Size, By Actuator Type, And By Geography
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