The tripple offset butterfly valve market is expected to grow from USD 2.8 billion in 2019 to USD 3.6 billion by 2025, at a CAGR of 4.1%. Rising need for tight shutoff, light in wieght, high pressure handling capacity with lower installation cost in critical processes, growing demand for energy & power generation in Asia Pacific, increasing adoption of valves in oil & gas industry, and growing urbanization are the major driving factors for the market’s growth during the forecast period.
The key players adopted acquisitions and mergers as the growth strategies to enhance their portfolio and increase their market share. Bürkert Fluid Control Systems (Germany), Emerson (US), Flowserve (US), IMI plc. (UK), Curtiss Wright (US), Trillium Flow Technologies (Weir Group) (US), Cameron - Schlumberger (US), Metso Corporation (Finland), Crane Co. (US), KITZ Corporation (Japan), Velan Inc. (Canada), Samson Controls (Germany), Neway Valves (China), L&T Valves (India), Zwick Armaturen (Germany), AVK Holdings (Denmark), Bray International (US), ABO Valve (Czech Republic), Wuzhou Valve (China), SWI Valve Co. (South Korea), Hobbs Valves (UK), and Swagelok (US) are among the major players in the triple offset butterfly valve market.
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Emerson (US) is one of the leaders in providing engineering and technology solutions for customers in industrial, commercial, and residential markets. Emerson has 2 major core business platforms—Automation Solutions and Commercial & Residential Solutions. Through the Automation Solutions segment, the company offers measurement and analytical instrumentation tools, valves, actuators and regulators, industrial solutions, and process control systems and solutions for industries such as oil & gas, chemicals, power, refining, and life sciences.
The company offers high-performance butterfly valves for several applications in industries such as automotive, chemicals, food & beverages, oil & gas, power generation, pulp & paper, and water & wastewater treatment by providing maintenance services, reliability services, performance services, and educational services.
Emerson has shown a superior ability to drive the triple offset butterfly valve market through strategic acquisitions and continuous growth in the oil & gas, petrochemicals, power generation, and pharmaceuticals industries. For instance, in September 2019, Emerson acquired the Spence and Nicholson product lines from Circor International. The acquisition strengthen Emerson’s broad portfolio of steam system solutions for process industries and commercial buildings. The Spence and Nicholson product lines include steam regulators, control valves, safety relief valves, temperature regulators, steam traps and other steam accessories and solutions.
Founded in 1972, IMI plc (UK) is one of the leading engineering companies involved in designing, manufacturing, and servicing highly engineered products that control the precise movement of fluids. The company’s innovative technologies pertaining to valves and actuators enable vital processes to operate safely, cleanly, efficiently, and cost-effectively. The company has manufacturing facilities in more than 20 countries and a global service network.
IMI offers triple offset butterfly valves under the following brands: IMI Bopp & Reuther, IMI CCI, IMI Fluid Kinetics, IMI InterAtiva, IMI Orton, IMI Remosa, IMI SSF, IMI TH Jansen, IMI Truflo Marine, IMI Truflo Rona, IMI Truflo Italy, IMI Norgren. The company offers triple offset butterfly valves for the power, oil & gas, petrochemicals, and other industries. The company is continuing to strengthen its presence across the world by opening new facilities in emerging markets. This expansion has helped the company to offer aftermarket services to local customers and increase its global footprint. As the Asian market offers significant growth potential, the company has been focusing on expanding its presence in the region. For instance, in 2019, IMI Critical Engineering opened a new facility in Japan. This facility helped the company to realign its global footprint. The new plant will focus on the design and manufacturing of large valves and hydraulic actuating systems.
Triple Offset Butterfly Valve Market by Material (Stainless Steel, Cast Iron, Cryogenic, Alloy Based), Valve Size, Industry (Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals), and Region - Global Forecast to 2025
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