Ball Valves Market by Size (Up to 1”, 1”–6”, 6” to 25”, 25” to 50”, 50” and Above), Type (Trunnion Mounted, Floating, Rising Stem), Material (Stainless Steel, Cast Iron, Alloy, Cryogenic), Vertical, and Geography - Global Forecast to 2023
“The ball valves market is expected to grow at a significant rate between 2017 and 2023”
The ball valves market is expected to grow at a CAGR of 2.9% between 2017 and 2023 and is expected to be valued at USD 14.46 billion by 2023. Key driving factors for the growth of the ball valves market are mergers & acquisition, partnership, and collaborations, increasing demand for industrialization in emerging economies, and evolution of Industrial Internet of Things (IIoT) with the increased communication and the demand for process safety. However, the major restraining factor for the growth of this market is the slowdown of the mining industry in APAC, Latin America, and Africa.
“The ball valves market for 1” size is expected to grow at the highest rate during the forecast period”
The market for 1” size ball valves is expected to grow at a high CAGR between 2017 and 2023. They are usually preferred for process plants with small capacities such as power plants, food and beverage processing plants, and other plants for less flow of media. These size valves are selected on the basis of flow pressure, noise, media, and vibration. Flowserve Corporation (US), Velan Inc. (Canada), Neway Valves (China), Curtiss-Wright (US), and others manufacture ball valves of size 1” and supply them to various verticals such as oil and gas, water and wastewater, building and construction, and others.
“The market for cast iron is expected to grow at the highest CAGR during the forecast period”
Cast iron and gray iron are used for the manufacturing of common water valves in which pressure and temperature are not a severe issue. Cast iron tends to be brittle, except for malleable cast irons. With its relatively low melting point, good fluidity, castability, excellent machinability, resistance to deformation, and wear resistance, cast irons have become an engineering material with a wide range of applications and are used in pipes, machines, and automotive industry parts such as cylinder heads, cylinder blocks, and gearbox cases.
“APAC is expected to register the highest growth during the forecast period”
Energy infrastructure investments are flourishing in APAC as electricity demand is increasing because of the increasing population. The governments in APAC are pushing for better product quality and power reliability, which are driving the industry growth. Moreover, the region has strengthened its position as the manufacturing hub for the global industry with companies such as Kitz Corporation (Japan), Neway Valves (China), and so on, and it has developed into the fastest-growing end-market for energy and transportation technologies.
The break-up of the profiles of primary participants for the report has been given below.
• By Company Type: Tier 1—55%, Tier 2—30%, and Tier 3—15%
• By Designation: C-Level Executives—50%, Directors—25%, and Others—25%
• By Region: North America—35%, Europe—25%, APAC—30%, and RoW—10%
Key players operating in the ball valves market include Emerson Electric (US), Flowserve Corporation (US), IMI PLC (England), Kitz Corporation (Japan), Velan Inc. (Canada), and others.
The research report on the ball valves market covers different segments—type, size, material, vertical, and geography. The market has been segmented on the basis of type into trunnion mounted, floating, and rising stem ball valves. On the basis of material, the ball valves market has been classified into cast iron, stainless steel, alloy, cryogenic, and others. The ball valves market has been segmented on the basis of vertical into oil and gas, energy and power, water and wastewater, food and beverage, chemicals, pharmaceuticals, building and construction, and others (pulp and paper, agriculture, and metal and mining). The report covers the market in 4 major geographical regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on type, size, material, vertical, and geography have been conducted to give an overall view of the ball valves market.
The value chain analysis is provided to provide an in-depth insight into the ball valves market.
Major drivers, restraints, opportunities, and challenges for the ball valves market have been detailed in this report.
The report includes a detailed competitive landscape, dive analysis along with in-depth analysis and revenue of key players.
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