Global Ball Valves Market, By Type (Floating, Rising Stem, Trunnion Mounted), by Size (Up to 1”, 1”–6”, 6” to 25”, 25” to 50”), By Material (Alloy, Cryogenic, Stainless Steel, Cast Iron,), by End Users – Global Forecast to 2023 – Forecast 2023
The Global Ball Valves Market is growing with the rapid pace; mainly due to the demand for industrialization. According to a recent study report published by the Market Research Future, The global market of Ball Valves is booming and expected to gain prominence over the forecast period. The global Ball Valves market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the projected period (2017 -2023). The global Ball Valves market is projected to accrual to USD ~11.56 Billion by 2023, at ~3.2 % of CAGR between 2017 and 2023.
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The staggering growth of the Ball Valves market is attributed to the growing construction industry, the demand of new nuclear power stations and the increasing demand for ball valves across industries such as oil and gas has prompted the growth & demand of ball valves in forecast period. Additionally, the increasing demand for industrialization in emerging economies along with the Industrial Internet of Things (IIoT) with the increased communication and the demand for process safety is fostering the market growth of ball valves. Moreover, factors such as mergers & acquisition, partnership, and collaborations transpired in the industry, and increasing demand for industrialization in emerging economies are providing impetus to the market growth of global ball valves market during the forecast period.
Adversely, the recession or downturn in the mining industry especially in growing economies of Asia Pacific and Africa is expected to pose as a challenge to the market growth of Ball Valves during the forecast period.
Ball Valves Market – Competitive Analysis
Players operating in the global Ball Valves markets are focusing upon optimized situational awareness for commercial and military customers and ensure their mission success. The Market appears to be highly competitive and diversified with the presence of a large number of players having global presence. To gain the competitive edge and to sustain in the market, these players are heavily investing in R&D, global expansion, advanced technologies and product Launch. Players compete against each other based on factors such as the product quality, reliability, cost, and aftermarket services. Marketers are tapping the growing markets for expansions.
Manufactures operating in the Ball Valves Industry strive to offer the product with extended service life, safe operation and environmental protection. They ensure that their worldwide customers can easily find the configurations they require, engineered to meet requisite performance and safety standards, whether it’s a standard or custom-engineered solution manufacturers offer product with quarterturn, rotary, linear, control and specialty configurations to fulfil the large demands for valve performance. Manufacturers are encouraged to continually pursue advancements in materials and severe-duty enhancements and the next levels of precision control, optimized flow and fail-safe shut-off by their own mind set to pursue new avenues that can test the current state of valve manufacture. These key players ensure that Long life and safe operation in tough services, from cryogens to highly corrosive fluids are the trademarks of their comprehensive ball valve portfolio. These manufacturers are also aware that Maximum safety and environmental protection are the driving factors in every design, achieved through corrosion-resistant materials, fire-safe testing, blowout-proof stems and tight shut-off features. Their marketing network spans the globe reinforced by strategic alliance with key international distributors.
The prominent players in the Ball Valves market are
- Alfa Laval AB (Sweden)
- Swagelok Company (US)
- MRC Global Inc. (US)
- Emerson Electric Company (US)
- Weir Group (UK)
- Kitz Corporation (Japan)
- Velan Inc. (Canada)
- Curtiss-Wright Corporation (US)
- Cameron-Schlumberger Ltd.(U.S)
- Flowserve Corporation (US)
- Metso Oyj (Finland)
- Flomatic Corporation (US)
- Dwyer Instruments Inc. (US)
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On geographic basis, Ball Valves market is studied in different regions as North America, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with the highest growth rate in the Ball Valves market as the increasing pipeline installations and need for monitoring & controlling from centralized location has boosted the growth & demand of ball valves in this region. Europe is expected to show slower growth rate compared to other regions in the Ball Valves market. The developing economies in Asia-pacific regions like China, Japan, India and others are showing relatively good growth in the Ball Valves market.
Ball Valves Global Market – Segmentation
The Ball Valves Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Type : Comprises Floating, Rising Stem, Trunnion Mounted and other.
Segmentation By Material : Comprises Alloy Based, Bronze, Brass, Steel, Cryogenic, Cast Iron, Stainless Steel and other.
Segmentation By End Users : Comprises Chemicals, Food & Beverage, Pharmaceuticals, Building & Construction, Aerospace & defence, Oil & Gas, Water & Wastewater, Energy & Power, Utilities and other.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Segment – Cast iron is expected to grow at the highest CAGR during the forecast period. Whereas, The Oil & Gas sector accounted for the largest share in global ball valves market in 2016.
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Ball Valves Global Market – Regional Analysis
The regional analysis of Ball Valves market is being studied for region such as Asia pacific, North Americas, Europe and Rest of the World. North America is dominating the ball valve market owing to the implementation of stringent government policies regarding wastewater treatment in these regions. Asia-Pacific region is contributing high with the growing demand of existing power plants as per the established standards. Market growth in APAC region is attributed to the increasing emphasis from the government bodies for better product quality and power reliability. Additionally, presence of industry giants in the region such as Kitz Corporation (Japan) and Neway Valves (China) is driving the growth of Asia Pacific market of ball valves. Europe is showing a significant growth during the forecasted period.
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