PUBLISHER: Market Research Future | PRODUCT CODE: 1565597
PUBLISHER: Market Research Future | PRODUCT CODE: 1565597
Global Ball Valves Market Research Report Information by Size (Up to 1", 1"-3", and 4"-6"), by Ball Valve Pieces (1 Piece, 2 Pieces, And 3 Pieces), by Design Technology (Floating Ball Design, And Trunnion Mounted Ball Design), by Method of Actuation (Manual, Control, and On-Off Valve), by Application (Metal & Mining, Oil & Gas, Water & Wastewater Treatment, LNG, LPG, Steel Industry, Sugar Industry, Chemical & Petro Chemical, Pulp & Paper, Energy & Power, Building & Construction, Food & Beverage, And Others), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) -Industry Forecast Till 2030
It is anticipated that the Global Ball Valves industry will encounter a compound annual growth rate (CAGR) of 5.94% during the forecast period.
The Ball Valves Market is being propelled by the expanding demand for energy and power, as well as the opportunities that have emerged because of the increasingly widespread adoption of industrial automation.
Because of the growing demand for electricity and energy, there has been a surge in the demand for ball valves in recent years. The demand for energy and power is increasing because of a variety of factors, such as the pursuit of more sustainable and purified energy sources, urbanization, industrialization, and population growth. Ball valves are utilized in power plants that produce electricity from fossil fuels, nuclear power plants, hydroelectric power plants, and renewable energy installations, including solar and wind farms. The demand for ball valves in this industry is directly increasing because of the growing global demand for oil and gas, which is being driven by industrial development and economic growth. In upstream, midstream, and downstream operations, as well as in drilling, production, refinement, and transportation, ball valves are utilized in the oil and gas industry.
Market segment insights
The global Ball Valves are classified into three categories according to their size: Up to 1", 1"-3", and 4"-6". The global Ball Valves are categorized into three groups based on the number of ball valve segments: 1 Piece, 2 Segments, and 3 Pieces.
The market is divided into two categories based on design technology: trunnion-mounted ball design and floating ball design. The mode of actuation determines the classification of the valve into three categories: manual, control, and on-off valve.
The application segment of the Ball Valves Market size is comprised of the steel industry, sugar industry, chemical & petrochemical, pulp & paper, energy & power, building & construction, food & beverage, and other industries.
Regional Perspectives
During the research period, the North American ball valves market is expected to experience a substantial CAGR growth and held the largest market share in 2023. In North America, ball valves are a substantial market. These mechanical devices are used to regulate the flow and pressure of fluids in a variety of industrial applications. Ball valves are utilized in a diverse array of industries, such as oil and gas, power generation, chemical, water and effluent, mining, and food and beverage.
Furthermore, Asia Pacific is the second-largest region in the Ball Valves Market. The Asia-Pacific Ball Valve Market is undergoing significant growth because of the increasing demand from a diverse range of end-user industries, such as oil and gas, power generation, chemical, water and wastewater treatments, and mining.
Additionally, the European ball valves market has experienced substantial growth in recent years. Europe is a critical region in the global ball valve market, offering a diverse array of opportunities for manufacturers, suppliers, and consumers. Ball valves are essential components that regulate the flow of gases and fluids in a diverse array of industries.
Among the market's premier players are Alfa Laval, Swagelok Company, Emerson Electric Company, MRC Global Inc, Velan Inc, The Weir Group Plc, Valmet, Flowserve Corporation, Dwyer Instruments Ltd, and Flomatic Corporation, as well as Cameron International Corporation, Crane Co., and Metso Corporation.