(PharmaNewsWire.Com, December 19, 2023 ) The Global Ball Valves Market is expected to grow from USD 13.6 billion in 2023 to USD 17.0 billion by 2028, registering a CAGR of 4.6%. The ball valves market thrives due to industrial expansion, energy requirements, infrastructure growth, technological progress, water treatment demands, safety compliance, and globalization, as these factors rely on ball valves' reliability across oil & gas, power, and water sectors.
Key Market Players:
The Ball valves companies players have implemented various organic and inorganic growth strategies, such as product launches, collaborations, partnerships, and acquisitions, to strengthen their offerings in the market. The major players in the market are Emerson Electric Co. (US), Flowserve Corporation (US), SLB (US), IMI (UK), Valmet (Finland), Crane Company (US), KITZ Corporation (Japan), Neway Valves Co. Ltd. (China), Spirax Sarco Limited (UK), Trillium Flow Technologies (US) and Others.
The Stainless steel Ball Valves segment accounted for the largest market share of the Ball Valves market in 2022. Stainless steel ball valves have experienced robust growth in the global market due to their durability, corrosion resistance, and diverse industrial applications. Their reliability in various sectors, including oil & gas, chemical, and water treatment, has propelled their increasing demand worldwide.
The market for Trunnion-mounted ball valves holds the largest market share in the Ball Valves market.
Trunnion Mounted Ball Valves have seen significant growth due to their robust design, ensuring reliable performance in high-pressure applications across industries like oil and gas, petrochemicals, and power generation. Their enhanced sealing, durability, and ability to handle demanding conditions have led to increased adoption, offering efficient fluid control and minimizing leakage risks in critical operations.
In terms of Size, the market for 1”-5” holds the largest market share in the Ball Valves market. Ball valves sized between 1” to 5” have seen substantial growth owing to their versatile applications in various industries. These valves offer efficient flow control, reliable sealing, and durability, making them popular in oil and gas, water treatment, chemical processing, and other sectors. Their compact design, high pressure handling capacity, and ease of maintenance contribute to their increasing demand across diverse industrial settings.
The Oil & gas Industry holds the largest market share in the Ball Valves market. Ball valves thrive in oil and gas due to reliability, durability in harsh conditions, advanced materials, and technology. They ensure safety, comply with regulations, and reduce maintenance, crucial for demanding environments. As energy needs persist, expanding infrastructure sustains their demand, encouraging ongoing innovation to address industry-specific challenges and maintain operational efficiency.
Asia Pacific holds the largest market share in the Ball Valves market.
The Asia Pacific region has witnessed substantial growth in the demand for ball valves across diverse industries due to infrastructural development, increasing urbanization, and industrialization. The valves' efficient control, reliability, and durability have fueled their adoption in sectors such as oil & gas, water & wastewater treatment, and manufacturing, driving remarkable market expansion and technological advancements in the region.
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