Global Ball Valves Market Size, Share And Growth Analysis For 2024-2033
Ball Valves Market Report 2024
Ball Valves Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The ball valve market has experienced robust growth in recent years, expanding 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.
What Is The Estimated Market Size Of The Global Ball Valves Market And Its Annual Growth Rate?
The ball valve market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Ball Valves Market
The growing oil and gas industry is expected to propel the growth of the ball valve market going forward. The oil and gas industry is a sector that involves the exploration, extraction, refining, transportation, and marketing of petroleum products. Ball valves are commonly used in the oil and gas industry to control the flow of high-pressure liquids and gases with minimal pressure drop.
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Which Market Players Are Steering the Ball Valves Market Growth?
Key players in the market include 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.
What Are the Dominant Trends in Ball Valves Market Overview?1
Major companies operating in the market are focused on introducing advanced solutions, such as stainless-steel CO2 ball valves, to gain a competitive edge in the market. Stainless steel CO2 ball valves are ball valves made of stainless steel that are designed to handle high-pressure carbon dioxide (CO2) applications. These valves are used in various industries, including the oil and gas industry, to control the flow of fluids and gases with minimal pressure drop.
How Is The Global Ball Valves Market 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
Geographical Insights: Asia-Pacific Leading The Ball Valves Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Ball Valves Market Definition
A ball valve is an emergency stop valve that regulates the flow of a liquid or gas using a rotating ball with a bore. The ball valve is used to shut down the fluid in upstream oil and gas production facilities, both onshore and offshore.
Ball Valves Global Market Report 20242 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global ball valve market report covering trends, opportunities, strategies, and more
The Ball Valves Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ball valve market size, ball valve market drivers and trends, ball valve market major players and ball valve market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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