NEW YORK, United States, July 26, 2021 (GLOBE NEWSWIRE) — Research Dive has added a new report on the global butterfly valve market to its offerings.According to the report, the market is expected to reach USD 14,108.3 million from 2021 to 2028, growing at a CAGR of 5.9%.The report provides a comprehensive outlook on the current scenario and future scope of the global industry.The report is drafted by expert market analysts and guarantees a trusted source of data and comprehensive market insights for new entrants, investors, existing market players, stakeholders, shareholders and more.
The rise of the COVID-19 pandemic in 2020 has adversely affected the growth of the market.Government agencies in several regions have implemented strict lockdown measures to prevent the spread of the virus during the pandemic.Butterfly valve production has been significantly affected due to severe disruptions to the supply chain during the lockdown.Additionally, the shutdown of the oil and gas industry during the pandemic has reduced demand for butterfly valves.All these factors hinder the market growth during the pandemic.
For more details, download a free sample copy of the report at: https://www.researchdive.com/download-sample/8418
The substantial increase in demand for butterfly valves in oil and gas plants across the globe is driving the growth of the global butterfly valve market.Furthermore, the growing research and development related to butterfly valves is expected to unlock lucrative opportunities for market growth over the forecast period.However, constraints related to butterfly valves, such as increasing competition from local manufacturers, limited throttling, and significant risks of cavitation and choke, are expected to hinder market growth.
This report segments the global Butterfly Valves Market into Types, Application Types, Functional Types, End Users, and Regions.
Among the type segments, the high performance butterfly valve segment is expected to lead the market with a revenue of USD 9,116.8 million during the forecast period.The growth of this segment is primarily due to high performance butterfly valves offering high volume, high flow paths, and the ability to pass solid and viscous media.
In the application type segment, the center sub-segment is expected to experience an accelerated growth of USD 5,002.7 million over the forecast period.The growth of this segment is mainly due to the fact that the seat of the center butterfly valve is constructed like a sleeve or barrel in the valve body.Therefore, in a central butterfly valve, the medium passing through the valve does not come into contact with the valve body.
Among the functional type segment, the on/off valve segment is expected to hold the leading market share and collect USD 11.138 billion during the forecast period.The growth of this segment is mainly due to the on/off valve offering fast and safe operation, long-term tight shutoff and reduced fugitive emissions.
In the end-user segment, the oil and gas sub-segment is expected to hold the leading market share and surpass USD 5,638.1 million during the forecast period.The growth of this segment is mainly due to the increasing demand for stainless steel butterfly valves in the oil and gas industry.
Connect with analysts to reveal how COVID-19 is impacting the market: https://www.researchdive.com/connect-to-analyst/8418
The report analyzes the global Butterfly Valve Market in several regions including North America, Europe, Asia Pacific and LAMEA.Among them, the Asia Pacific market is expected to grow rapidly and is expected to receive USD 5,316.2 million during the forecast period.The growth of the market in this region is mainly due to increasing energy sources, increasing use of pipeline transportation, rising oil and gas reserves, and increasing construction projects due to rapid industrialization and urbanization in the region.
The report lists some of the leading players in the global butterfly valve industry, including:
The report also provides numerous industry top strategies and tactics such as top strategic initiatives and developments, product/service scope, business performance, Porter’s Five Forces analysis, and SWOT analysis of the most significant players in the global industry.For example, in June 2021, Tianjin Tanghai Dongyang Valve Co., Ltd., the best professional valve butterfly valve and check valve manufacturer in China, launched the best double eccentric butterfly valve suitable for different application fields such as petrochemical, mechanical equipment, metallurgy, electric power, etc. ., water treatment, urban pipe network, etc.
Furthermore, the report summarizes and outlines various aspects of these key players such as product portfolio, business performance, SWOT analysis, and more.Quickly download the top company development strategy summary report
Furthermore, the report summarizes and outlines various aspects of these key players such as product portfolio, business performance, SWOT analysis, and more.Quickly download the top company development strategy summary report
Post time: Apr-06-2022
