New York, USA, July 21, 2021 (GLOBE NEWSWIRE) – Research Dive has added a new report on the global butterfly valve market to its products. According to the report, the market is expected to reach 14.108.3 billion U.S. dollars and grow at a compound annual growth rate of 5.9% from 2021 to 2028. 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 is guaranteed to become a reliable source of data and comprehensive market insights for new entrants, investors, existing market participants, stakeholders, shareholders, etc.
The rise of the COVID-19 pandemic in 2020 has adversely affected the growth of the market. During the pandemic, government agencies in many regions adopted strict lockdown measures to prevent the spread of the virus. As the supply chain was severely disrupted during the lock-in period, the production of butterfly valves was significantly affected. In addition, the closure of the oil and gas industry during the pandemic reduced the need for butterfly valves. All these factors hinder market growth during the pandemic.
For more detailed information, please download a free sample copy of the report at: https://www.researchdive.com/download-sample/8418
The global oil and gas factories’ demand for butterfly valves has grown substantially, which is driving the growth of the global butterfly valve market. In addition, it is expected that the increasing research and development related to butterfly valves will release profitable opportunities for market growth during the forecast period. However, restrictions related to butterfly valves, such as increasing competition from local manufacturers, restricted throttling, and huge risks of cavitation and flow resistance, are expected to hinder market growth.
The report subdivides the global butterfly valve market into types, application types, function types, end users and regions.
Among the types of market segments, the high-performance butterfly valve sub-segment is expected to lead the market with revenues of US$9.1168 billion during the forecast period. The growth of this market segment is mainly because high-performance butterfly valves provide high capacity, flow paths, and the ability to pass solid and viscous media.
Due to the increasing demand for butterfly valves in the oil and gas industry, the butterfly valve market will experience growth
In the application type segment market, the center sub-segment is expected to achieve an accelerated growth of US$5.0027 billion during the forecast period. The growth of this market segment is mainly because the seat of the center butterfly valve forms a sleeve or spool in the valve body. Therefore, in the central butterfly threshold, the medium passing through the valve will not contact the valve body.
In the functional type segment market, the on-off valve sub-segment is expected to occupy the leading market share during the forecast period and earn USD 11.138 billion in revenue. The growth of this sub-segment is mainly due to the on/off valves providing fast and safe operation, long-term tight closing and reduced fugitive emissions.
Among the end-user segments, the oil and gas segment is expected to occupy the leading market share, exceeding US$5.6381 billion during the forecast period. The growth of this market segment is mainly due to the increasing demand for stainless steel butterfly valves in the oil and gas industry.
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The report analyzes the global butterfly valve market in North America, Europe, Asia Pacific and LAMEA. Among them, the Asia-Pacific market is expected to grow rapidly during the estimated period and earn US$5.3162 million in revenue. The growth of the regional market is mainly due to the increase in energy resources in the region, the increase in the use of pipeline transportation, the increase in oil and gas reserves, and the increase in construction projects caused by the rapid development of industrialization and urbanization in the region.
The report lists some leading companies in the global butterfly valve industry, including-
The report also provides many industry top strategies and tactics, such as top strategic initiatives and development, product/service range, business performance, Porter’s five forces analysis, and SWOT analysis of major players that play a role 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 for different application fields such as petrochemical industry, mechanical equipment, metallurgy, and electric power. , Water treatment, urban pipe network, etc. Quickly download Top Trending Reports-
Post time: Aug-23-2021
