Triple offset butterfly valve market to grow at CAGR of 4.1% from 2019 to 2025.The triple 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 weight, 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. Growing industrialization in developing economies, rising use of 3D printing in manufacturing valves, need for valve replacement, and focus of valve manufacturers to offer improved customer service are among the other factors fueling the growth of the triple offset butterfly market. However, lack of standardized certifications and government policies is likely to hinder the growth of the triple offset butterfly market in the future.
This article was first featured at https://ift.tt/2T2XLz2 on January 7, 2020 at 02:43PM by
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