Ball Valve Market Scope
Ball valve, a device with a spherical closure unit which uses a hollow that perforated and pivoting ball to control flow through it. it's open once the ball's hole is in line with the flow and closed once it's pivoted 90-degrees by the valve handle. Rising demand for high-quality ball valves to mitigate the threat of contamination in essential processes, including water and steam handling in food & beverages and chemicals industries are driving the growth of the ball valve market across the globe.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
Key Companies Profiled | Emerson Electric Co. (United States), Flowserve Corporation (United States), Cameron–Schlumberger Ltd. (United States), Crane Co. (United States), IMI Plc. (Finland), Kitz Corporation (Japan), Metso (Finland), Astech Valve Co. Ltd. (Taiwan), Valvitalia S.p.A (Italy), Velan Inc. (Canada), Aalberts Industries N.V. (Netherland), Christian Bürkert GmbH & Co. KG (Germany) and Neway Valves Co. Ltd (China) |
CAGR | 3.38% |
Ball Valve is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Ball Valve market throughout the predicted period.
Emerson Electric Co. (United States), Flowserve Corporation (United States), Cameron–Schlumberger Ltd. (United States), Crane Co. (United States), IMI Plc. (Finland), Kitz Corporation (Japan), Metso (Finland), Astech Valve Co. Ltd. (Taiwan), Valvitalia S.p.A (Italy), Velan Inc. (Canada), Aalberts Industries N.V. (Netherland), Christian Bürkert GmbH & Co. KG (Germany) and Neway Valves Co. Ltd (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Weir Group PLC (United Kingdom), Curtiss-Wright Corporation (United States), Alfa Laval AB (Sweden), Dwyer Instruments Inc. (United States) and MRC Global Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Ball Valve market by Type , by Application (Oil & Gas, Energy Power, Chemical Industry, Water Treatment Industry, Paper Making Industry and Others) and Region with country level break-up.
On the basis of geography, the market of Ball Valve has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In February 2018, Curtiss-Wright Corporation acquired the Dresser-Rand Government Business for USD 212.5 million. Dresser-Rand is a leading designer and manufacturer of mission-critical, high-speed rotating equipment solutions, including steam turbines and steam system valves, supporting most major U.S. Navy shipbuilding programs
In December 2018, Metso signed a distributor agreement with Grønbech & Sønner A/S (Denmark) to offer the entire breadth of Metso's valve products and related solutions across Denmark
Influencing Trend:
Increasing Use of 3d Printers in Manufacturing Line and Adoption of Automation in Valves
Market Growth Drivers:
Need for Ball Valve Replacement, Growth in Energy Consumption in Developing Economies and Increasing Industrialization, Urbanization, and Smart City Initiatives Worldwide
Challenges:
Minimization of Lead Time and The existence of Manufacturers Providing Low-Priced Valves
Restraints:
Lack of Standardization of Certifications and Policies
Opportunities:
Integration of IIoT-Enabled Ball Valves to Avoid Unexpected Downtime and Increase in the Number of Refineries, and Petrochemicals and Chemicals Plants Worldwide
Key Target Audience
Ball Valves device manufacturers, Industrial valves manufacturers, Manufacturers of components, Professional services/solutions providers, End users from the listed industries, Process industry standard organizations, Research institutes and organizations and Associations of valve manufacturers