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The demand for global butterfly valves is anticipated to accelerate the market in the forecast period, owing to the increasing awareness for water consumption, surge in demand from various industry verticals mainly oil & gas, wastewater treatment, chemicals for monitoring and predictive maintenance drives the growth of the market.
In order to gain a competitive edge, market players are investing in research & development activities to enhance their product portfolio. For instance, in June 2018, Wouter Witzel EuroValve B.V. a Netherland based manufacturer of butterfly valves, launched a new series of butterfly valves called EV-i series in order to provide a lower operating torque. Similarly, these players are also opting for mergers and acquisitions, collaberating with local players in order to increase their market reach in the global market.
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For instance, JAIN Irrigation Systems Ltd in Jalgon, India and TALIS management holdings GMBH in Rodgau, Germany jointly announce a global strategic cooperation in order to club TALIS products as part of JAIN product offerings and expands its portfolio reach. The strategic cooperation intended to offer intended irrigation and water infrastructure solutions worldwide. Similarly, Emerson announced to sign an agreement to purchase Virgo Valves and Controls, LTD in order to serve its customers in the energy and process related industries.
Key players operating in the butterfly valves market are Schlumberger Limited., Emerson Electric Co., L&T Valves Limited., The Weir Group PLC, Bray International, Hobbs Valve, JC Fábrica de Válvulas S.A.U, Velan Inc., Dembla Valves Ltd., North American Machine Works and among others.
By Material Type
· Stainless Steel Valves
· Cast Iron Valves
By End Use Industry
· Oil & Gas
· Water & Wastewater
· Power & Energy
· North America (the USA and Canada and Rest of North America)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Asia Pacific is experiencing dominance in global butterfly valves market owing to the parameters such as increasing need for water treatment across different countries mainly Japan, China, usage of valves in different end use industry verticals mainly in oil & gas, water treatment industry, increase in refineries and chemical plants. Besides that, it is being observed that the consumption level of valves is increasing in China particularly, as many major companies in the market have their chemical plants setup in China. Furthermore, fuel demand is increasing due to rising sales of passengers cars escalating the demand for petrochemicals industries to increase their production capacities and eventually fuelling the global butterfly valves market. Similarly, key manufacturing players mainly Emerson, Flowserve, and others have incorporated their facilities for manufacturing, sourcing and marketing in India and other developing economies in Asia in order to overcome the substantial demand of the butterfly valves.
The product awareness is expected to grow in Europe as a result of retrofitting and renovation of old technology. Additionally, increasing of petrochemical & general industry fields expenditures, increasing exploration & production activities and rising investments in oil refining. Similarly, Europe is also anticipated to witness a rise in the adoption of transportation of oil & gas through pipelines, desalination projects, treatment in different processing industries, and water treatment factories, thereby supplementing the demand of the butterfly valves in the region.