Ball valves are shut-off valves that use a ball for stopping or starting the flow of water. Its small size, tight sealing, and quick turn on and off capability has led to its application for controlling liquids and gases in vents and drains. The global ball valves market report by Market Research Future (MRFR) covers the applications of ball valves as well as its prospects for the period of 2017 to 2023 (forecast period) by its historical analysis and current economic scenario. The COVID-19 pandemic and its impact on the industry have been explored in the report.
Market Scope
The global ball valves market is expected to touch a value of USD 11.56 billion by 2023 at 3.2% CAGR over the forecast period. Rise of automation and inclination towards internet of things (IoT) can drive market demand. Focus on industrialization, replacement of old ball valves, adoption of smart valves, and rapid urbanization can drive the market. Investments in wastewater treatment plants for tackling sanitation issues and need for connected ecosystems for maintenance and monitoring of industrial equipment can bode well for the global ball valves market.
Competitive Landscape
The eminent players in the Ball Valves Market Size 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 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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