IMARC Group, a leading market research company, has recently released a report titled “Ball Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global ball valves market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Ball Valves Market?
The global ball valves market size reached US$ 12.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.
What are Ball Valves?
The increasing industrialization and infrastructure development represents one of the significant factors driving the growth of the global ball valves market. This, coupled with the rise in various industries, such as oil and gas, water and wastewater, chemicals, power generation, and pharmaceuticals, is acting as a major growth-inducing factor. Moreover, the rising need for reliable and efficient valves to control the flow of fluids and gases is driving the demand for ball valves. In line with this, the increasing demand for energy, exploration and production activities, pipeline transportation, and refining processes is contributing to the growth of the market. Ball valves play a crucial role in controlling the flow of oil and gas which is providing reliable shut-off and regulation capabilities, thus driving the growth of the market. The market is also driven by the rising use of ball valves in water treatment plants, sewage treatment facilities, and irrigation systems to control the flow of water and manage the treatment processes effectively, along with the increasing focus on water conservation and wastewater treatment. In addition to this, the expansion of chemical and petrochemical industries, along with the increasing demand for ball valves in these industries for the handling and transportation of various chemicals, gases, and volatile substances, are facilitating the growth of the market. Apart from this, significant technological advancements in ball valve designs, materials, and automation systems are fueling the growth of the market. Manufacturers constantly innovating to improve the performance, efficiency, and durability of ball valves, coupled with advanced features like smart valves, remote control, and automation capabilities enhancing their appeal to industries seeking more sophisticated and efficient valve solutions which are propelling the market growth. Other factors, such as the rising oil and gas industry, and stringent safety, and environmental regulations in industries such as oil and gas, chemical, and water treatment, are creating a positive outlook for the market across the globe.
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What are the Growth Prospects and Trends in the Ball Valves Industry?
The escalating product demand from the healthcare and pharmaceutical sectors for manufacturing medical devices, managing pressure relief in the equipment, and sterilizing materials is among the primary factors driving the ball valves market. In line with this, the elevating requirement for these instruments in oxygen therapy appliances and blood analyzers in hospitals and other ambulatory care centers is further augmenting the market growth. Moreover, the leading manufacturers are utilizing 3D printing technologies for producing cost-effective, durable, and smart ball valves equipped with sensors and actuators that can be remotely controlled, providing real-time monitoring of the fluid flow and enabling quick response to changes in liquid conditions, which is also catalyzing the global market. Apart from this, the extensive product usage in water and wastewater treatment and the development of advanced and innovative variants are acting as significant growth-inducing factors. Furthermore, the upgradation of existing systems and the growing popularity of the industrial internet of things (IIoT) in manufacturing plants are anticipated to propel the ball valves market over the forecasted period.
Who are the Key Players Operating in the Ball Valves Market?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Aalberts N.V.
- Alfa Laval
- Schlumberger Limited
- The Crane Company
- The Curtiss-Wright Corporation
- Dwyer Instruments Inc.
- Emerson Electric Co.
- The Flowserve Corporation
- IMI Plc
- KITZ Corporation
- Niuwei Group Co. Ltd.
- Velan Inc.
What is Included in Market Segmentation?
The report has categorized the market based on material, valve type, size and end use industry.
Breakup by Material:
- Stainless Steel
- Cast Iron
- Alloy Based
- Others
Breakup by Valve Type:
- Trunnion Mounted Ball Valves
- Floating Ball Valves
- Rising Stem Ball Valves
Breakup by Size:
- Up To 1”
- 1-6”
- 6-25”
- 25-50”
- 50” and Larger
Breakup by End Use Industries:
- Oil & Gas
- Water & Wastewater Treatment
- Energy & Power
- Food & Beverages
- Chemicals
- Building & Construction
- Pulp & Paper
- Pharmaceuticals Metals & Mining
- Agriculture
- Others
Regional Analysis:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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