The ball valves global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Ball Valves Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The ball valves market size has grown steadily in recent years. It will grow from $13.31 billion in 2023 to $13.87 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to oil and gas exploration and production, water and wastewater treatment, petrochemical and chemical processing, focus on energy efficiency, infrastructure development, automation and control systems.
The ball valves market size is expected to see steady growth in the next few years. It will grow to $16.23 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to focus on smart valves, rise in renewable energy projects, water scarcity concerns, stringent environmental regulations, resilience in supply chains, emergence of new end-user industries. Major trends in the forecast period include increasing adoption of automation and control systems, integration of advanced materials, increasing role in industrial process control, demand for high-pressure and high-temperature applications, rapid growth in the lng, shift towards floating ball valve designs, strategic mergers and acquisitions.
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Scope Of Ball Valves Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Ball Valves Market Overview
Market Drivers –
Rapid urbanization is expected to drive the growth of the ball valve market going forward. The development of infrastructure and construction activities due to urbanization has increased demand for ball valves. For instance, according to a report by World Bank, in 2022, approximately 4.4 billion people, or 56% of the world’s population, resided in cities. By 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to surpass its current level. Thus, the rise in urbanization is propelling the growth of the ball valve market.
Market Trends –
Implementation of 3D printing technologies is the key trend gaining popularity in the ball valve market. 3D printing is a technique for building three-dimensional objects layer by layer by using a computer-generated design. 3D printing optimises valves for customer-specific requirements. For instance, in May 2021, Neles Corporation, a Finland-based company specialised in designing and manufacturing industrial valves and valve automation solutions, introduced a 3D-printed valve for field testing. The valve is a T5-series standard stainless steel ball valve. The field testing generated abundant valuable information about the potential of making pressure-retaining parts using 3D printing with noticeably shorter lead times. Additionally, 3D-printed noise attenuation trims use less material and have better flow paths than traditionally manufactured trims.
The ball valves market covered in this report is segmented –
1) By Types: Trunnion-Mounted Ball Valves, Floating Ball Valve, Rising Stem Ball Valve
2) By Material: Steel, Cast Iron, Cryogenic, Alloy Based, Other Materials
3) By Size: <1”, 1”-5”, 6”–24”, 25”–50”, >50
4) By Industry: Oil And Gas, Energy And Power, Water And Wastewater Treatment, Chemicals, Building And Construction, Pharmaceuticals, Agriculture, Metals And Mining, Pulp And Paper, Food And Beverages
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Regional Insights –
Asia-Pacific was the largest region in the ball valves market in 2023. The regions covered in the ball valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the ball valves market report are Emerson Electric Co., Schlumberger Limited, Flowserve Corporation, IMI PLC., Valmet (Neles Corporation), Spirax Sarco Limited, Honeywell International Inc., Parker Hannifin Instrumentation Products Division, SSP Fittings Corp., Columbia Specialty Company, Perrin GmbH, M&M International, FBV Inc., KITZ Corporation, Velan Inc., Cameron International Corporation, Neway Valve (Suzhou) Co. Ltd., Wuzhou Valve Co. Ltd., Jiangsu Shentong Valve Co. Ltd., Bonney Forge Corporation, Bray International Inc., Crane Co., Dwyer Instruments Inc., Flomatic Corporation, Forum Energy Technologies Inc., Georg Fischer Ltd., Hattersley Aladdin Limited, KSB SE & Co. KGaA, NIBCO INC., Valvitalia SpA
Table of Contents
1. Executive Summary
2. Ball Valves Market Report Structure
3. Ball Valves Market Trends And Strategies
4. Ball Valves Market – Macro Economic Scenario
5. Ball Valves Market Size And Growth
…..
27. Ball Valves Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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