IMARC Group, a leading market research company, has recently releases report titled “Ball Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024–2032″, The study provides a detailed analysis of the industry, including the global ball valves market size, share, trends, and growth forecast. 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$ 13.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032.
Factors Affecting the Growth of the Ball Valves Industry:
- Industrial Automation:
Industrial automation is a significant factor driving the ball valves market growth. It is revolutionizing manufacturing and process industries by enhancing efficiency, safety, and precision. Industries are increasingly adopting automated systems, leading to the heightened demand for reliable and high-performance components, such as ball valves. Ball valves are essential in automated systems due to their ability to provide precise flow control, rapid shutoff, and low maintenance requirements. Additionally, the integration of ball valves with automated control systems, such as programmable logic controllers (PLCs) and distributed control systems (DCS), which allow for seamless and accurate operation in various industrial processes, is boosting the market growth.
- Oil and Gas Industry:
The expansion of the oil and gas industry is significantly influencing the growth of the ball valves market. These valves play a crucial role in the oil and gas sector, providing reliable flow control solutions for upstream, midstream, and downstream applications. In upstream operations, which involve exploration and production, ball valves are essential for drilling operations, wellhead equipment, and production facilities. Their ability to withstand high pressures and harsh environments makes them ideal for controlling the flow of oil, gas, and other fluids. In the midstream sector, which includes transportation and storage, ball valves are used in pipelines, compressor stations, and storage terminals. Additionally, the growing demand for energy, driving the expansion of oil and gas exploration and production activities, is further boosting the demand for ball valves.
- Water and Wastewater Treatment:
The global emphasis on water conservation and sustainable management of water resources has heightened the importance of efficient water and wastewater treatment systems, thereby driving the demand for ball valves. Water treatment plants and wastewater facilities rely on ball valves for their robustness, ease of operation, and reliable performance in controlling the flow of water and various chemicals used in treatment processes. These valves are critical in applications such as filtration, disinfection, chemical dosing, and sludge handling. Furthermore, governments and municipalities are focusing on upgrading existing water treatment facilities and constructing new ones to meet the increasing demand. Ball valves play an essential role in these infrastructure projects, ensuring efficient and uninterrupted water supply while maintaining high standards of water quality and safety.
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Global Ball Valves Market Trends:
The widespread product application in the power generation industry, including thermal, nuclear, and renewable energy plants, for various applications, is supporting the market growth. Additionally, the increasing product adoption in the chemical and petrochemical industries for handling aggressive and corrosive fluids, is boosting the market growth. Besides this, the increasing adoption of heating, ventilation, and air conditioning (HVAC) systems in residential, commercial, and industrial buildings, driving the demand for ball valves, is acting as another growth-inducing factor. Furthermore, continuous advancements in valve technology, such as smart valves with the Internet of Things (IoT) integration, which enhance the functionality and appeal of ball valves, is supporting the market growth.
Who are the key players operating in the industry?
The report covers the major market players including:
- 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 segmented the market into the following categories:
Breakup By Material:
- Stainless Steel
- Cast Iron
- Alloy Based
- Others
Stainless steel holds the majority of the market share due to its superior corrosion resistance, strength, and durability, making it the preferred choice for demanding applications across various industries.
Breakup By Valve Type:
- Trunnion Mounted Ball Valves
- Floating Ball Valves
- Rising Stem Ball Valves
Trunnion mounted ball valves accounted for the largest market share, as they provide enhanced support for high-pressure applications, ensuring reliable performance and reduced wear and tear.
Breakup By Size:
- Up To 1”
- 1-6”
- 6-25”
- 25-50”
- 50” and Larger
1-6” represented the largest segment because it is the most versatile size range, commonly used in a wide array of applications across different industries, balancing capacity and ease of installation.
Breakup By End Use Industry:
- Up To 1”
- 1-6”
- 6-25”
- 25-50”
- 50” and Larger
Oil & gas holds the majority of the market share due to its extensive utilization of ball valves to ensure safe and efficient control of fluids in exploration, production, transportation, and refining processes.
Market Breakup by Region:
• 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
Asia Pacific’s dominance in the market is attributed to rapid industrialization, infrastructure development, and increasing energy demand in the region.
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