According to the latest report by IMARC Group, titled "Ball Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global ball valves market reached a value of US$ 12.9 Billion in 2022. Ball valves are quarter-turn valve that uses a hollow, perforated, and pivoting ball to manage the flow of fluid through it. The ball is rotated using a handle, which is attached to the shaft that runs through the center of the ball. They are commonly used in pipelines to control and regulate the flow of gases, liquids, and other fluid-like materials. They are highly reliable and durable, making them a popular choice for harsh and demanding applications. They are designed with a simple construction, allowing easy operation, maintenance, and repair. The valve's smooth and tight sealing surfaces provide a leak-free operation, ensuring that the fluid remains within the pipeline while preventing leaks or spills. Ball valves are also designed to provide a positive and positive shut-off, which is essential for many industrial applications. When the valve is in the closed position, the ball completely blocks the fluid flow, preventing any leaks or spills from occurring. This feature makes ball valves an ideal choice for applications where the fluid is hazardous, toxic, or flammable. They can be manufactured in a variety of sizes and configurations, making them suitable for use in a wide range of applications.
Global Ball Valves Market Trends:
The global market is primarily driven by the increasing demand for energy-efficient and cost-effective flow control solutions across various industries. In line with this, the rising product demand in diverse applications, such as oil and gas, water and wastewater treatment, chemical, and pharmaceuticals, due to their versatility and ability to handle a wide range of fluid types and pressures, is significantly contributing to the market growth. Furthermore, the growing demand for natural gas as a cleaner source of energy is positively influencing product uptake as ball valves are used in pipelines to transport natural gas from the production site to the consumption site. Apart from this, the rapid product utilization in the pharmaceutical industry for the production of drugs is catalyzing the market. Moreover, the escalating demand for smart and automated flow control solutions is propelling the market. Smart ball valves equipped with sensors and actuators can be remotely controlled, providing real-time monitoring of the fluid flow and enabling quick response to changes in fluid conditions. Additionally, the increasing implementation of 3D printing technologies to produce ball valves and the rising digital transformation in industrial plants are offering numerous opportunities for market expansion. On account of the factors above, the market is anticipated to reach a value of US$ 16.5 Billion by 2028, exhibiting a CAGR of 4.3% during 2023-2028.
- On the basis of the material, the market has been categorized into stainless steel, cast iron, alloy based, and others.
- Based on the valve type, the market has been classified into trunnion mounted ball valves, floating ball valves, and rising stem ball valves.
- Based on the size, the market has been segmented into up to 1”, 1-6”, 6-25”, 25-50”, and 50” and Larger.
- Based on the end use industry, the market has been categorized into oil & gas, water & wastewater treatment, energy & power, food & beverages, chemicals, building & construction, pulp & paper, pharmaceuticals metals & mining, agriculture, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include 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.
|Base Year of the Analysis
||Material, Valve Type, Size, End Use Industry, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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