Market outlook of the global butterfly valve market
Technavio’s market research analysts expect the global butterfly valves market to grow significantly, posting a CAGR of over 6% in the forecast period, which is driven by the booming oil and gas industry in Latin America, Africa, and the Middle East. The increasing demand from the oil and gas industry will drive the demand for butterfly valve due to an increase in exploration and upgradation activity.
New oil and gas discoveries in the African region is expected to increase its contribution to the global oil supply. Moreover, the growing population, urbanization, and expanding middle class are also boosting the oil and gas industry in Africa. For instance, six out of 10 major discoveries in the global oil and gas industry in 2013 were made in Africa. Therefore, the rising demand for oil and gas has led to widespread exploration activities in Africa, triggering the demand for industrial valves in the region, and thus propelling the growth of the overall butterfly valve market.
Segmentation of the global butterfly valve market by end-user
il and gas industry
Water and wastewater industry
il and gas industry dominated the global butterfly valves market in 2014 with over 23% share, and this is expected to grow during the forecast period. New oil and gas exploration activities coupled with heavy investments in pipelines and refineries in the Americas, the Middle East, Africa, and APAC are the major factors influencing the market growth.
Geographical segmentation of the global butterfly valve market
APAC is expected to maintain the highest market share throughout the forecasting period with a 39% market share. Factors such as urbanization has surged construction activities in the region, boosting the consumption of chemicals. Also, the rapid industrialization of developing countries such as India and China has propelled the demand for oil and gas and electricity in the APAC region.
Competitive landscape and key vendors
Key vendors in this market are –
The valves and actuators industries are seeking for vendors that can provide complete solutions rather than following the traditional multi-vendor approach to meet requirements. Therefore, valve manufacturers are increasingly trying to enhance their product portfolio either through strategic M&A or by developing new products themselves.
Other prominent vendors include Alfa Laval, AVK Group, Cameron, Crane, Curtiss-Wright, Honeywell, and KSB Group.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the global butterfly valve market?
What are the key market trends impacting the growth of the global butterfly valve market?
What are the challenges to market growth?
Who are the key vendors in the global butterfly valve market?
What are the market opportunities and threats faced by the vendors in the global butterfly valve market?
Trending factors influencing the market shares of the APAC, EMEA, and the Americas.
What are the key outcomes of the five forces analysis of the global butterfly valve market?
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Global Butterfly Valve Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Butterfly Valve Market: Emerson Electric, Flowserve, Pentair and Weir
Other Prominent Vendors in the market are: Alfa Laval, AVK Group, Cameron, Crane, Curtiss-Wright, Honeywell, and KSB Group.
Commenting on the report, an analyst from Technavio’s team said: “The end-user industries of valves and actuators are seeking vendors that can provide complete solutions rather than following the traditional multi-vendor approach to meet requirements. As a result, valve manufacturers are increasingly trying to enhance their product portfolio either through strategic M&As or by developing new products.”
According to the report, Rapid industrialization and urbanization have increased the demand for energy and exploration activities worldwide. For instance, exploration activities have surged in Norway, the UK, the Netherlands, and Russia to cope with the growing energy needs. Oil and gas exporting countries such as Russia, as well as large oil exploration companies are leveraging this opportunity to boost revenues and capture larger market shares.
Further, the report states that fluctuating raw material prices reduces the profitability of vendors, restricting the market growth