Ball Valves Market Analysis, Current Trends, Growth Drivers and Forecast to 2027 | Top Key Players are Emerson Electric Company, MRC Global Inc., Velan Inc.
Research Reports
Apr 06, 2022
Market Overview
The ball valves market is expected to reach USD 11.56 Billion, with a CAGR of 3.2% during the forecast period. The global Ball Valves Market is exploding right now, and it will continue to do so in the future years. Ball valves are a type of quarter-turn valve that manages flow by the use of a hollow, penetrating and pivoting ball. Ball valves are widely utilized in a variety of industries, including the oil and gas industry, aviation, aerospace and defense, and many more. The global market for ball valves is booming, thanks to the increased use of cast iron. A higher level of competition for ball valves production exists among a few market competitors and across different geographies, boosting the worldwide ball valves market’s growth shortly.
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The major key players in the global ball valves market are Swagelok Company (US), Alfa Laval AB (Sweden), Emerson Electric Company (US), MRC Global Inc. (US), Velan Inc. (Canada), Weir Group (UK), Metso Oyj (Finland), Kitz Corporation (Japan), Cameron-Schlumberger Ltd. (U.S), Flowserve Corporation (US), Curtiss-Wright Corporation (US), Dwyer Instruments Inc. (US), and Flomatic Corporation (US).
The advent of the coronavirus pandemic delayed worldwide economic growth and harmed it. Working places and industrial enterprises have been forced to close due to the lockdown limitations. Several enterprises and the working class were hit worse by the pandemic and were forced to bear the brunt of the financial losses. The global ball valves market was disrupted since industrial operations were halted for an unknown period. The industrial valves market, on the other hand, persevered and grew steadily even during these difficult times. The ball valves sector has exploded due to a significant increase in demand for ball valves in the oil and gas industries, as well as nuclear power plants. The increasing demand for ball valves is expected to propel the ball valves market forward in the approaching years.
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Market Segmentation
Based on the material types, the market is segmented into bronze, steel, brass, alloy-based, cast iron, cryogenic, and others.
Based on the types, the market is segmented into the stem, floating, trunnion mounted, and many more.
Based on the end-users, the market is segmented into food and beverage, pharmaceuticals, building and construction, chemicals, aerospace and defense, water and wastewater, oil and gas, utilities, energy and power, and many other sectors.
Based on the size, the market is segmented into less than 1 inches, 1-6 inches, 6-25 inches, 25-50 inches, and more than 50 inches.
Based on the region, the market is segmented into Europe, Asia-Pacific, North America, and other parts of the world.
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Regional Classification
Strict government policies for wastewater treatment in North America have fueled the expansion of the industrial valves market in these regions. As a result of such policies, North America now has the greatest share of the global ball valves market. The ball valves market in the Asia-Pacific region has exploded due to rising demand for existing power plants and increased utilization of ball valves. During the predicted period, the European region is expected to increase significantly.
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