Market Scenario
The global The Ball Valves market, according to MRFR's
report, is expected to grow at USD USD 11.56 Billion by 2023, at a
moderate 3.2% of CAGR over the review period (2017 to 2023).
Market Synopsis
The rising need for new nuclear power plants and the
increasing demand in industries such as oil and gas has prompted the growth and
production of ball valves in the forecast era. Inspired by the Internet of
Things ( IoT), the transformation of manufacturing environments around the
globe in developed countries provides a higher demand for ball valves to have a
stable base. Also, its success can be calculated in terms of people's desire
for protection that can significantly cause growth in the industry. The sector
is also gaining traction from nuclear power plants and from the oil and gas
industry, where the part has multiple uses. Factors such as population growth,
scarcity of freshwater resources, and a significant presence of salinized water
relative to freshwater also raise demand for desalination plants and wastewater
treatment plants. The introduction of the ball valve to handle both domestic
wastewater and industrial wastewater treatment will further fuel market growth.
Competitive Landscape
The eminent players in the Ball Valves Market are – Alfa Laval
AB (Sweden), Metso Oyj (Finland), MRC Global Inc. (U.S.), Emerson Electric
Company (U.S.), Swagelok Company (U.S.), Weir Group (U.K.), Kitz Corporation
(Japan), Curtiss-Wright Corporation (U.S.), Cameron-Schlumberger Ltd.(U.S),
Velan Inc. (Canada), Flowserve Corporation (U.S.), Flomatic Corporation (U.S.),
and Dwyer Instruments Inc. (U.S.) among others.
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At a different note, if exposed to wrong types of fluids, such
as slurries, the market can lag because of its susceptibility to wear and tear.
At the same time, throttling place can also result in erosion that can impede
business growth. Market growth can not, however, be plateaued as long as many
industries build significant product demand.
Segmental Outlook
The global Ball
Valves Market Report can be analyzed by port types, type, size,
material types, and end-users.
By type, the market includes rising stem, floating, and trunnion
mounted and others.
Based on material type, the market has been segmented into
alloy-based, brass, bronze, cryogenic, cast iron, steel, and others.
Size-based segmentation reveals 1"–6", up to
1", 25"–50", 6"–25", 50" and above, and
others.
Based on end-users, the market comprises chemicals, food &
beverage, building & construction, pharmaceuticals, aerospace &
defence, oil & gas, energy & power, water & wastewater, utilities,
and others.
Regional Analysis
Broad area segmentation includes Asia Pacific (APAC), North
America, Europe, and the Rest of the World (RoW), among others.
Presently, North America controls the consumer economy.
Supported by strict regulations governing wastewater management, the segment is
experiencing substantial industry-wide penetration and is gaining considerable
revenue in the process.
Europe is also following the same suit as the area has a
strict environmental protocol which further encourages the use of ball valves.
The APAC is set to experience high revenue generation, with
many power plants boosting ball valve demand. The developed electronics
industry in Asia-Pacific and the implementation of emerging technologies have
provided the regional organizations with a competitive lead in the market.
Growing urbanization and rapid industrialization in emerging economies like
China and South Korea are driving the region 's demand for the ball valve
industry. In Asia-Pacific, investments in energy infrastructure are booming
with the increasing demand for electricity due to the growing population, and
the government is pushing for better product quality and power efficiency,
which are also driving industry growth. Also, the chemical companies are
investing in expanding their facilities in the Asia-Pacific region due to
low-cost labour, which in turn boosts the ball valve market's growth prospects.
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