The ball valves market was valued at USD 8.1 billion in 2020 and is projected to reach USD 14.7 billion by 2025. It is expected to grow at a CAGR of 12.5% during the forecast period. Increasing demand for valves from healthcare and pharmaceuticals industries due to outbreak of COVID- 19 pandemic, need for replacement of outdated ball valves and adoption of smart valves, rising focus on industrialization, urbanization, and smart city development, and rise in new nuclear power plants projects and upgrade existing ones are the key driving factors for the ball valves market. Based on the size, ball valves sized 1” to 6” to account the largest share during 2020–2025.
Several factors need to be considered while selecting the correct valve size for the required application.If the valve size is too small, it will not allow the required flow at the required pressure.
Hence, it is essential to select a valve that is 60% and 80% open at the maximum required flow rate, wherever possible, not less than 20% open at the minimum required flow rate.Proper valve size selection helps valve users because it gives a good balance between using as much of the valve’s control range as possible and giving good flow resolution while providing an adequate safety factor.
Several key industry players provide software solutions to accurately calculate the valve sizing, along with the trim solution required for the application.The up to 1” and 1” to 6” segments collectively accounted for a large share of the overall ball valves market in 2019, and a similar growth trend is likely to be observed during the forecast period.
This growth can be attributed to the increasing demand for ball valves in transportation and energy & power-based applications. The use of 1– 6” ball valves is increasing in the oil & gas, energy & power, water & wastewater treatment, chemicals, and other industries.
Energy & power end-use industry to witness the highest CAGR during the forecast period. In the energy & power industry, there is a strong need to develop infrastructure to address future demands for energy.This need is creating an opportunity for ball valve manufacturers to design and develop their products according to the requirements and standards of the energy & power sector.
Power is a basic need for domestic and industrial applications; hence, ball valves are in demand for safety applications and critical operations.APAC is expected to continue to hold the largest size of the ball valves market during the forecast period.
Surging demand for energy from the commercial, manufacturing, and residential verticals in emerging economies such as China and India has led to increased investments in power projects in APAC. This will boost the demand for ball valves in the energy & power end-user industry in APAC during the forecast period.
APAC to record the highest growth rate in ball valves market during the forecast period APAC holds the largest share of the global ball valves market.The market in APAC is further segmented into China, India, Japan, South Korea, and Rest of APAC.
The growth of the market in APAC can be mainly attributed to the numerous initiatives undertaken by regional governments to encourage the implementation of IoT in the industrial sector in APAC. Dense population, the presence of automotive, chemicals, pharmaceuticals, oil & gas, and metals & mining industries in the region, growing per capita income, and rapid industrialization are the major factors driving the growth of the ball valves market in APAC.
In-depth interviews have been conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the ball valves marketplace. • By Company Type: Tier 1 - 56%, Tier 2 – 23%, and Tier 3 - 21% • By Designation: C-Level Executives - 75% and Managers - 25% • By Region: North America - 40%, Europe - 23%, APAC - 26%, and RoW - 11%
The ball valves market comprises major players such as Emerson (US), Cameron–Schlumberger (US), Flowserve (US), IMI Plc. (UK), Metso (Europe), Spirax-Sarco (UK), Crane Co. (US), KITZ Corporation (Japan), Trillium Flow Technologies (UK), and BRAY International (US).
The study includes an in-depth competitive analysis of these key players in the ball valves market, with their company profiles, recent developments, and key market strategies.
Research Coverage The report defines, describes, and forecasts the ball valves market based on type, material, size, end-users, and geography.It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the ball valves market.
It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and developments carried out by the key players to grow in the market.
Key Benefits of Buying the Report The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ball valves market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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