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According to the estimates by IMARC Group, the global ball valves market is expected to witness moderate growth during 2021-2026.
The increasing adoption of ball valves in the healthcare sector to manufacture medical devices, manage pressure relief in the equipment, and sterilize materials, represents one of the key drivers for the global ball valves market.
The emergence of Industry 4.0 trends, along with the rising utilization of automated industrial machinery, represent some of the key trends in the global ball valves market.
Sudden outbreak of the COVID-19 pandemic had led to the increase in demand of ball valves across the healthcare sector to be utilized in oxygen therapy devices and blood analyzers.
On the basis of the material, the market has been segregated into stainless steel, cast iron, alloy based, and others. Currently, stainless steel dominates the global market.
On the basis of the valve type, the market has been bifurcated into trunnion mounted ball valves, floating ball valves, and rising stem ball valves. Currently, trunnion mounted ball valves hold the majority of the total market share.
On the basis of the end-use industry, the market has been segmented into oil & gas, water & wastewater treatment, energy & power, food & beverages, chemicals, building & construction, pulp & paper, pharmaceutical, metals & mining, agriculture, and others. At present, the oil & gas industry exhibits a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global ball valves market are 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. and Velan Inc.
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