High temperature and high pressure efficiencies are amongst the topmost concerns with respect to end-users. In such a scenario, it becomes inevitable to choose the appropriate triple offset butterfly valve catering to specific applications. As such, the market is witnessing an influx of triple offset butterfly valves abreast with advanced features. This is how the triple offset butterfly valves market is expected to flourish in the upcoming period.
Triple Offset Butterfly Valves Market Dynamics
The global triple offset butterfly valves market, by material, spans stainless steel, cast steel, cast iron, and likewise. Size-wise, it’s large (above 25 inches), medium (10-25 inches), and small (upto 10 inches). By end-user industry, it’s petrochemicals & chemicals, oil and gas, power generation, paper & pulp, metals & mining, food & beverages, healthcare & pharmaceuticals, wastewater & water treatment, and likewise. Out of these, stainless steel holds the largest market share.
This could be attributed to growing demand for top-quality triple offset butterfly valves in chemicals and food & beverages vertical for mitigating threat to get contaminated in the critical processes, like steam and water handling. Besides, oil & gas vertical holds the largest market share due to cost-effectiveness being the top priority. Triple offset butterfly valves prove to be critical and specialized equipment herein, thereby serving the purpose.
North America holds the largest market share due to the US being one of the leading manufacturers of oil & gas at the global level. Also, the fact that new-fangled shell gas projects are witnessing acceleration can’t be ignored. Europe stands second on these grounds with Germany dominating the market. This could be credited to the water & waste water treatment sector growing over here. Also, industrial waste is being increasingly treated.
The Asia-Pacific is expected to witness maximum turbulence in the triple offset butterfly valves market going forward due to countries like India witnessing tremendous growth of chemical and oil & gas sector. The government is also imposing stern regulations regarding treatment of industrial waste. Plus, GCC countries like the UAE, Oman, Kuwait, Bahrain, Qatar, and Saudi Arabia have the biggest concentration of exporters of oil, do account for more than 20% of oil supply at the global level.
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The key players in the triple offset butterfly valves market include:
Emerson Electric Co., The Flowserve Corporation, Cameron International Corporation (Schlumberger), Adams Armaturen GmbH, L&T Valves Limited, Neles Oyj, The Weir Group, Bray International, Inc., Hoobbs Valve, GWC Italia SpA, RAC Energy S.r.l., OMb Group (Fluicon Valves), Velan, Inc., Dembla Valves Ltd., The Crane Company, OHL Gutermuth Industrial Valves GmbH, Value Valves Co., Ltd., and Advance Valves Pvt. Ltd.
On the developments’ front, Emerson, in the year 2019, did complete acquisition of Spence and Nicholson product lines from none other than Circor International. The objective of this acquisition was strengthening the former’s portfolio comprising steam system solutions for commercial buildings and process industries. These solutions include control valves, steam regulators, temperature regulators, safety relief valves, steam traps, and likewise.