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The global butterfly valve market reached a value of US$ 9.39 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 12.79 Billion by 2026, exhibiting a CAGR of 4.25% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
A butterfly valve is a quarter-turn rotational shut-off valve that is used to start, regulate and stop the flow of gases or fluids through a pipe. It consists of two semi-circular plates hinged at the center along with a seal, stem, disc and an actuator, which can be operated through handles and gears. The device is economical, highly reliable and requires low maintenance, and is crucial in several applications across water supply and treatment plants, chemical industry, oil and gas industry, power generation systems, etc.
Growing industrialization, along with the rising trend of automation in the oil and gas industry, is among the key factors driving the growth of the market. Butterfly valves are extensively used in the extraction of crude oil and gas from refineries, oil terminals and depots. They are also utilized to enhance the operational efficiency of the industrial production process. Furthermore, increasing investments for power generation in developing nations are also expected to catalyze the market growth. The development of smart cities, which have high energy utilization, has also accelerated the adoption rate of the product. Additionally, there is a growing demand for stainless steel variants which can withstand high pressure and are maintenance-free. They are compact in size, lightweight and have low operational costs, owing to which they are widely used in paper and pulp production, fuel handling, air conditioning and refrigeration systems. Other factors, including the production of butterfly valves using 3D printing technology and the incorporation of Industrial Internet of Things (IIoT) for performance enhancements, are projected to drive the butterfly valve market growth further.
IMARC Group’s latest report provides a deep insight into the global butterfly valve market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the butterfly valve industry in any manner.
IMARC Group provides an analysis of the key trends in each sub-segment of the global archery equipment market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product type, material type, design, function and end-use.
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The report has also analysed the competitive landscape of the market with some of the key players being Alfa Laval Corporate, Curtiss-Wright, Flowserve, Emerson Electric, Pentair, Weir Group, AVK Group, Crane Company, Schlumberger, Velan, KSB, Honeywell, etc.
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