NEWARK, DE / ACCESSWIRE / July 10, 2023 / According to FMI, the butterfly valves market size will be worth US$ 10.3 billion in 2023, and US$ 19.4 billion by 2033. Sales of butterfly valves are projected to increase by 6.5% over the projection period.
With the growth of technology and innovations in the industrial automation market, the demand for butterfly valves is expected to increase. For example, NelesTM NeldiscTM metal-seated and JamesburyTM Wafer-SphereTM soft-seated butterfly valves are designed for long-term performance. Soft-seated and metal-seated butterfly valves are both part of a wide range. Control valves and on-off applications benefit from the industry's top butterfly valves with SIL3 certification. Bf Valve
The devices have wide applications in various process media and industries, particularly in water treatment, distribution, collection, and pump stations, particularly in flow isolation. As a result of their simple construction, compactness, and smaller installation footprints, they perform faster than other valve families and are lighter in weight and cost.
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There are significant advantages to using butterfly valves in certain applications, especially when the dimension exceeds 200 mm (DN 200) in size:
Due to their compact designs and ease of installation demand is set to expand.
Their inherently simple and economical design eliminates many wear points by having fewer components.
Butterfly valves are often more economical than other valve types due to their simpler design and simpler manufacturing process.
The butterfly valve is widely used in a variety of applications, including underground installation
Key Takeaways from this Market:
Based on FMI research, the United States is projected to hold almost 78.70% of the global market in 2033.
Butterfly valve sales in South Korea are expected to grow at a CAGR of 6.2% by 2033.
In 2023, it is anticipated that the butterfly valve sector in China will hold a market share of 42.2%.
Butterfly valves in Japan are predicted to grow at a CAGR of 6.4% over the forecast period.
By 2033, the high-performance segment of the butterfly valve market is predicted to command nearly 6.4% of the market's CAGR.
By 2033, the eccentric valve mechanism will dominate the butterfly valve industry with a CAGR of roughly 6.3%.
"During the last few years, the market for butterfly valves has seen a significant increase in sales largely because of improvements in materials, improvements in manufacturing processes, and new designs," - remarks an analyst at FMI.
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How Key Players are Transforming the Manufacturing of Butterfly Valves?
Butterfly valves are competitively priced and are offered by a wide variety of global manufacturers. Market leaders include:
To gain a competitive edge over their competitors, industry participants also fund research and development projects.
Players in the industry are confronted with several challenges, such as rising raw material prices, a highly competitive environment, and the lack of awareness of butterfly valves in the marketplace.
Marketing campaigns are being conducted to raise consumer awareness about low-cost, highly effective butterfly valves that are being developed by businesses.
In May 2023, ChargePoint Technology and Famat Sampling will collaborate to address one of the toughest containment problems in the industry. A pharmaceutical supplier has developed a valve solution that allows operators to keep sterile integrity during production while taking a product sample for quality analysis. A highly potent and sterile powder sample can be taken using ChargePoint Technology's split butterfly valve combined with Famat Sampling's 125-TC/OEL valve.
In June 2023, Munson Machinery, Utica, New York, USA, will release the VB-1-S316, a 28-liter Vee Cone Blender designed to blend uniformly within 15-30 minutes with minimal degradation of products. Blenders are constructed of 316 stainless steel, which can be finished for use in food, dairy, pharmaceutical, or industrial industry applications.
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Future Market Insights offers an unbiased analysis of the global butterfly valves market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the market, the report is segmented based on type (high-performance and lined), mechanism (eccentric valves and centric valves), function (on/off valves and control valves), and application (oil & gas, water & wastewater, chemicals, power generation, and others) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
Have a Look at the Related Reports of the Industrial Automation Domain:
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Oil and Gas Valves Market Share: Demand for oil & gas valves in the global market is projected to surge at 3.5% CAGR during the forecast period 2022 to 2029.
Industrial Valves Market Demand: With the rising adoption of industrial valves for regulating the flow of materials, the overall demand is anticipated to rise at a moderate CAGR of 4.3% between 2022 and 2029, totaling a valuation of US$ 96.2 Billion by 2029.
Thermostatic Radiator Valves Market Growth: The global thermostatic radiator valves market is projected to amass a revenue of around US$ 413.1 million by 2033, up from US$ 271.2 million in 2023 moving forward with a CAGR of 4.3% during the forecast period.
North America Residential Ball Valves Market Revenue: According to Future Market Insights (FMI), between 2022 and 2032, the North American market for Residential Ball Valves will grow at a CAGR of 5.6%, reaching a valuation of US$ 554.1 Million in 2032.
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