Latest News- Butterfly Valve Market: Oil and gas Industry is expected to lead the End-user segment during 2024-2028

The Butterfly Valve Market is being driven by Recent product developments of butterfly valve

The Butterfly Valve Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2524.8 million. Additive manufacturing, also known as 3D printing, is revolutionizing the valve industry by enabling the production of intricate valve designs with increased efficiency and reduced costs. This technology, which has evolved from prototype and testing applications, is now being utilized for mass production. Techniques such as computer numerical codes, cast urethane, binder jetting, sheet lamination, vat photopolymerization, and directed energy deposition are being employed to create finished or semi-finished valve components. These 3D printed valve models undergo rigorous testing for fluid flow, ensuring optimal performance with various material components. By leveraging additive manufacturing, valve manufacturers can innovate and experiment, ultimately delivering superior products to the market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Oil and gas Industry
  • Water and wastewater industry
  • Power generation industry
  • Chemical industry
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Recent product developments of butterfly valve
• Growing regulatory compliance requirements for safety and carbon emissions
• Increasing number of oil and gas exploration activities

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in raw material prices of butterfly valve
• Availability of counterfeit valve products
• Volatility in oil and gas prices

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Market Scope in Butterfly Valve Market Research Report

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Research Analysis Overview

The Butterfly Valve Market encompasses various types of butterfly valves, including Actuated, High-Performance, Lined, Wafer, High-Temperature, Low-Temperature, Cryogenic, and Sanitary designs. Manual butterfly valves are also part of the market, along with Valve Automation systems, Flow Control Valves, Quarter-Turn Valves, and related components like Valve Actuators, Valve Seat Materials, and Valve Pressure Ratings. Leakage classifications are also significant in this market.

Market Research Overview

The Butterfly Valve Market is a significant segment of the larger Industrial Machinery and Supplies and Components Market, encompassing companies specializing in the production of flow regulation solutions, specifically Butterfly Valves. These valves are integral to industries relying on control systems, including Stainless Steel Valves and Hygienic Valves, which are crucial in sectors like Food and Beverage, Automation, and Pharmaceuticals. Market expansion will be fueled by industrial growth, particularly in developing economies, driving demand for energy, chemicals, petrochemicals, pulp and paper products, and processed food and beverages. Technavio projects this trend to continue, with key growth drivers being the adoption of Smart Technologies, Remote Monitoring, and Customized Solutions. Furthermore, the market will be shaped by advancements in Sealing Performance, Electric Systems, Pneumatic Systems, High-Performance Valves, and Oil and Gas applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/