The global ball valves market size was evaluated at $11.88 billion in 2023 and is slated to hit $16.40 billion by the end of 2032 with a CAGR of nearly 3.65% between 2024 and 2032.
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Market for ball valves: factors of growth
Designed on a sphere, a ball valve is a closing mechanism with on/off control. From gearbox and storage to gas processing, industrial, etc., these ball valves are used in many end-use sectors to control operational conditions.
Growing number of expansions seen by the energy and power, strong industrialisation, and major technological developments regarding the use of mechanical engineering-based procedures suggest that the global ball valves market is probably going to see notable increase over the forecast period. Rising investments in process industries including oil and gas, energy and electricity, petrochemical, food and beverages, and pharmaceutical, are expected to further drive the ball valves market globally in the years to come.
Nevertheless, the lack of consistency of certifications and policies could hinder the worldwide growth of the ball valves market. On the other hand, the growing need of different sectors for IoT and Industry 4.0 architecture in developing nations is probably going to present fresh prospects for the main competitors in the market.
We have included a competition landscape and a study of Porter’s Five Forces Model for the market to provide the users of this report a whole perspective of the ball valves industry. The report includes a market attractiveness analysis in which every segment is benchmarked according on their market size, development rate, and general appeal.
To present a more complete picture of the main companies in the market, the study offers company market share information. Furthermore covered in the report are important strategic developments of the market including acquisitions and mergers, new product offering launch, agreements, partnerships, and joint ventures, research and development, product offering, and regional expansion of significant participants engaged in the market on a global and local level. Furthermore covered in the study is the range of products offered by different companies.
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The Global Ball Valves Market is segmented based on product, application and region
Global Ball Valves Market: Product Segment Analysis
● Stainless Steel
● Cast Iron
● Alloy Based
● Cryogenic
● Brass
● Bronze
● Others
Global Ball Valves Market: Application Segment Analysis
● Food and Beverages
● Oil and Gas
● Chemicals
● Energy and Power
● Water and Wastewater Treatment
● Construction
● Pulp and Paper
● Pharmaceuticals
● Others
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The Global Ball Valves market profiles key players such as:
● Flowserve Corporation
● Emerson Electric
● Crane
● Cameron–Schlumberger
● Kitz Corporation
● IMI PLC
● Neway Valves
● Metso
● Weir Group
● Velan
● Astech Valve
● Conbraco Industries
● Christian Bürkert
Market for ball valves: regional perspectives
The regional classification calls for Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
Asia Pacific dominated the ball valves market worldwide in 2018. The many projects undertaken by the several regional administrations to promote the use of IoT in businesses all throughout the region help to mostly explain this development. Furthermore expected to be the fastest expanding market worldwide over the next five years is the Asia Pacific ball valves market due to the increased demand for ball valves, particularly from food and beverage, energy and power, pharmaceutical, water and wastewater, and chemical industries. North America is a developed ball valves market since modern safety systems utilised in end-user sectors depend on ball valves.
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