Butterfly Valves Market Size was valued at USD 10.9 Billion in 2022. The butterfly valves market industry is projected to grow from USD 11.65 Billion in 2023 to USD 19.871 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.90% during the forecast period (2024 - 2032). The main market drivers that propel the expansion of the butterfly valves market include the rising demand from the oil and gas industry, which has a greater need for stainless steel butterfly valves.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The oil and gas industry's rising need for butterfly valves is anticipated to drive the market CAGR. Valves are important to the oil and gas sector because they are a fundamental component of all piping systems. They are used to manage crude oil processing, separate and safeguard equipment, and regulate flow rates. The need for valves will rise due to the expanding upstream and downstream operations involving oil and gas. For instance, the Oil 2021 report published in March 2021 by the autonomous intergovernmental agency based in France, the International Energy Agency (IEA), predicted that by 2026, the world's oil consumption would have increased to 104.1 million barrels per day. As a result of the growing demand from the oil and gas industry, the butterfly valve market is growing.
Going forward, the market for butterfly valves is anticipated to rise at a rapid pace due to the increasing prevalence of wastewater. Wastewater is defined as water that has been intentionally used for home, commercial, industrial, or agricultural purposes, among other purposes. In wastewater treatment plants, butterfly valves are frequently employed to control flow in large-diameter pipes. They also offer a reasonably priced way to manage wastewater flow and movement during treatment. For instance, as of May 2022, the global annual production of municipal wastewater was estimated to be 380 billion m3 by ReliefWeb, a US-based humanitarian information source on global crises and disasters. It is projected that wastewater generation will increase by 24% by 2030 and by 51% by 2050. Consequently, the market for butterfly valves is expanding due to an increase in the number of wastewater occurrences.
The market for butterfly valves is seeing a rise in the important trend of product innovation. Leading businesses in the butterfly valve industry are concentrating on creating cutting-edge solutions to improve their competitiveness. For instance, Valves Online Limited, a UK-based provider of industrial equipment, introduced a novel jacketed sanitary butterfly valve in October 2021 that addresses recurring issues frequently seen in the confectionery sector. The Warmflow design uses the butterfly valve principle, which is then encased in a jacket that keeps the heating medium inside while keeping the valve and process line out of it. As a result, the product can flow freely without hardening, and the valve is kept from warming up. The valve, which results in effective lines that save time and money, has been put in food plants throughout the United Kingdom and has passed stringent testing with a perfect success rate. Thus, driving the butterfly valves market revenue.
The Butterfly Valves Market segmentation, based on type, includes High Performance Butterfly Valves and Lined Butterfly Valves. The high performance butterfly valves segment dominated the market. The high-performance butterfly valves segment is anticipated to be the most profitable over the forecast period because of the flow path, high capacity, and capability to pass solid and viscous media that these valves offer.
The Butterfly Valves Market segmentation, based on mechanism, includes Centric Butterfly Valves and Eccentric Butterfly Valves. The centric butterfly valves category generated the most income. Since the centric butterfly valve's seat is constructed inside the body like a sleeve or cartridge, the media that passes through the valve stays away from the body. The zero offset butterfly valve is used in applications involving chemicals, coatings, food, specific solids, and abrasives. It is projected that centric butterfly valve use will rise as a result of these variables.
Figure 1: Butterfly Valves Market, by Mechanism, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Butterfly Valves Market segmentation, based on end user, includes Oil & Gas, Electric Power, Water & Wastewater, Chemical, and Other Industries. The oil & gas category generated the most income. The global oil and gas industry is among the economy's biggest sectors. The globe's reliance on oil and gas is expanding as long as economies and infrastructure worldwide continue to rely heavily on items made from petroleum. The oil and gas sector is seeing a significant demand increase for stainless steel butterfly valves. Moreover, demand for butterfly valves is anticipated to rise in response to the growing use of shale gas as a fuel source.
By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American butterfly valves market area will dominate this market because the need for efficient flow control systems in various sectors, such as the chemical, oil and gas, and water and wastewater industries, is expanding. The oil and gas industry is one of the primary end-users of butterfly valves in the US and Canada, which drives market expansion.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.
Figure 2: Butterfly Valves Market Share By Region 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe butterfly valves market accounts for the second-largest market share, spurred by the growing need for energy-efficient valves, especially in the HVAC and water and wastewater treatment sectors. Butterfly valves have been widely used as an economical and energy-efficient flow control solution due to the stringent environmental restrictions enforced by the European Union on various businesses. Further, the German butterfly valves market held the largest market share, and the UK butterfly valves market was the fastest growing market in the European region.
The Asia-Pacific Butterfly Valves Market is expected to grow at the fastest CAGR from 2024 to 2032 because nations like China and India are seeing a growing demand for infrastructure development. The demand for wastewater and water treatment, a major end-user market for butterfly valves, is being driven by the region's increasing urbanization and population. Moreover, China’s butterfly valves market held the largest market share, and the Indian butterfly valves market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the butterfly valves market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the butterfly valves industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global butterfly valves industry to benefit clients and increase the market sector. In recent years, the butterfly valves industry has offered some of the most significant advantages to medicine. Major players in the butterfly valves market are attempting to increase market demand by investing in research and development operations, including Weir Group, Emerson Electric Co., Flowserve Corporation, AVK Group, Cameron, Alfa-Laval Corporate AB, Crane Co., Curtiss-Wright Corporation, KSB Group, and Velan Inc.
For clients in the commercial, industrial, and residential markets, Emerson Electric Co. (Emerson) offers cutting-edge solutions. Pneumatic devices, industrial valves, process control software and systems, fluid control, measurement and analytical instruments, electrical distribution equipment, and pneumatic mechanisms are just a few of the things that the company sells. Along with these services, it offers process automation, smart wireless, modernization and migration, training, consultancy, and post-project support.
The Weir Group Plc (Weir Group) is a provider of engineering solutions for the mining technology and minerals industries. It offers a range of goods and services, such as engineering workshop and maintenance services, spare parts, pressure pumping equipment, pressure control devices, and leasing services. The company's goods and services are used in many different industries, such as water and sewage, mining, infrastructure, infrastructure for the military and sea, and industrial. Additionally, it provides field services, asset management, certification, and repairs for equipment.
July 2022: For applications utilizing hydrogen up to 15,000 psi (103.4 MPa), Emerson Electric Co. has produced the TESCOM Anderson Greenwood Instrumentation H2 Valve Series. This novel device reliably separates process pressure in high pressure gas applications, such as tube trailers and hydrogen filling stations, reducing fugitive emissions and increasing safety.
July 2022: All-stainless air-actuated sanitary butterfly valves are now available from Valworx. The materials used in these USDA, FDA, and 3-A compliant sanitary butterfly valves are all stainless steel, with Tri-Clamp ends for hygienic connections. According to the manufacturer, these butterfly valves are suited for food, beverage, personal care, and pet care applications.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 10.9 Billion |
| Market Size 2023 | USD 11.65 Billion |
| Market Size 2032 | USD 19.871 Billion |
| Compound Annual Growth Rate (CAGR) | 6.90% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Mechanism, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea |
| Key Companies Profiled | Weir Group, Emerson Electric Co., Flowserve Corporation, AVK Group, Cameron, Alfa-Laval Corporate AB, Crane Co., Curtiss-Wright Corporation, KSB Group, and Velan Inc. |
| Key Market Opportunities | Growth in the Amount of Industrial Infrastructure and Increased Power Consumption in Industrial Operations |
| Key Market Dynamics | Growth in the Oil and Gas Industry's Need for Butterfly Valves Growing Need for Vales with High-Pressure Handling Capacity, Tight Shutoff, and Cheap Installation |
Frequently Asked Questions (FAQ) :
The Butterfly Valves Market size was valued at USD 11.65 Billion in 2023.
The global market is projected to grow at a CAGR of 6.90% during the forecast period, 2024-2032.
North America had the largest share in the global market.
The key players in the market are Weir Group, Emerson Electric Co., Flowserve Corporation, AVK Group, Cameron, Alfa-Laval Corporate AB, Crane Co., Curtiss-Wright Corporation, KSB Group, and Velan Inc., among others.
The high performance butterfly valves category dominated the market in 2023.
The centric butterfly valves category had the largest share in the global market.
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