Ball Valves Market worth $17.0 billion by 2028 – Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 15, 2023 /PRNewswire/ — 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% according to a new report by MarketsandMarkets™. The ball valves market has witnessed significant growth attributed to increased industrialization, amplified demands from the oil & gas sector, water treatment, and expanding global infrastructure projects. Technological advancements and a focus on efficient fluid control systems have propelled this expansion.

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Ball Valves Market Report Scope:

 

Stainless steel to hold the largest market share in the year 2022.

The global market for stainless steel ball valves has seen significant expansion owing to their enduring nature, resistance to corrosion, and versatility across industries like oil & gas, chemicals, and water treatment. Their reliability has driven heightened demand, establishing them as a crucial component in numerous sectors worldwide.

Trunnion-mounted to record the highest CAGR during the forecast period.

The evolution of Trunnion Mounted Ball Valves has surged owing to their resilient construction, guaranteeing steadfast functionality in high-pressure settings across diverse sectors such as oil and gas, petrochemicals, and power generation. Their reinforced sealing, enduring nature, and capacity to manage demanding environments have sparked heightened acceptance, delivered effective fluid regulation while mitigated potential leakage hazards in pivotal operations.

1″-5″ segment to record the highest CAGR during the forecast period

The growth trajectory of ball valves spanning sizes from 1″-5″ has surged remarkably, propelled by their versatile utility across diverse industries. These valves are prized for their adeptness in managing fluid flow, ensuring reliable seals, and exhibiting robust durability. Widely embraced in sectors like oil, gas, water treatment, and chemical processing, their compact design, capacity to withstand high pressures, and ease of maintenance continue to fuel escalating demand in industrial applications.

Pulp & Paper segment to record the highest CAGR during the forecast period.

Ball valves are pivotal in the Pulp & Paper industry for their reliability and durability in corrosive pulp processes. Withstanding harsh chemicals and high pressures, they ensure tight seals, preventing leaks critical in pulp production. As the industry seeks efficiency and reduced downtime, ball valves play a vital role, promoting continuous growth and innovation to meet evolving operational demands.

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Asia Pacific is expected to grow at the highest CAGR in the Ball valves industry from 2023 to 2028.

The Asia Pacific area has experienced a notable surge in ball valve adoption owing to its robustness, reliability, and effectiveness across industries like oil & gas, water treatment, and manufacturing. This increased usage is a result of the region’s burgeoning infrastructure development and urbanization trends. Consequently, it has sparked substantial market growth, paving the way for pioneering advancements in valve technology within the region.

Key Players

Key players operating in the Ball valves companies include 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 in the Ball valves market.

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