The latest report by IMARC Group, titled “Asia Pacific Butterfly Valve Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the Asia Pacific butterfly valve market trends. The market size reached US$ 4,039 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 5,386 Million by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.
A butterfly valve is a versatile and efficient quarter-turn rotational shut-off valve used for controlling the flow of gases or fluids in pipes. Its design consists of two semi-circular plates joined in the center, along with a seal, stem, disc, and actuator. This valve can be easily operated using handles and gears. One of its notable advantages is its affordability, making it a cost-effective choice in various industries.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/asia-pacific-butterfly-valve-market/requestsample
Asia Pacific Butterfly Valve Market Trends and Drivers:
The rising trend of automation in the oil and gas industry and the elevating levels of industrialization are primarily driving the butterfly valve market. They are used in the extraction of gas and crude oil from refineries depots, oil terminals, etc. Moreover, increasing investments in power generation, especially in developing nations, are further propelling the market growth. Besides this, there is an escalating demand for stainless steel variants that can withstand high pressure and are maintenance-free. They are lightweight and compact and are extensively utilized in fuel handling, paper and pulp production, air conditioning, etc. Additionally, the rising production of butterfly valves using 3D printing technology and incorporation the Industrial Internet of Things (IIoT) for performance enhancements are expected to fuel the butterfly valve market in the coming years.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Rubber Lined Butterfly Valve
- Plastic Lined Butterfly Valve
- Metal Lined Butterfly Valve
Breakup by Material Type:
- Stainless Steel
- Cast Iron
- Aluminum
- Others
Breakup by Design:
- Centric Butterfly Valve
- Single-Eccentric Butterfly Valve
- Double-Eccentric Butterfly Valve
- Triple-Eccentric Butterfly Valve
Breakup by Function:
- On/Off Valve
- Control Valve
Breakup by End-Use Industry:
- Oil and Gas Industry
- Water and Wastewater Industry
- Power Generation Industry
- Chemical Industry
- Others
Breakup by Country:
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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