According to the report, the global ball valves market accounted for USD 12.1 billion in 2018 and is expected to reach around USD 15.8 billion by 2025, at a CAGR of 3.8% between 2019 and 2025.
New York, NY, July 08, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Ball Corp Valves Market by Material Type (Stainless Steel, Cast Iron, Alloy Based, Cryogenic, Brass, Bronze, and Others), by Valve Type (Trunnion Mounted, Floating, and Rising Stem), by Valve Size (Up To 1”, Between 1” and 6”, Between 6” and 25”, Between 25” and 50”, and More Than 50”), by End-Use Industry (Food & Beverages, Oil & Gas, Chemicals, Energy & Power, Water & Wastewater Treatment, Construction, Pulp & Paper, Pharmaceuticals, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018–2025”. According to the report, the global ball valves market accounted for USD 12.1 billion in 2018 and is expected to reach around USD 15.8 billion by 2025, at a CAGR of 3.8% between 2019 and 2025.
A ball valve is a sphere-shaped closing device that offers on/off flow control. These ball valves are utilized across various end-use industries to control operational conditions, such as transmission and storage, gas processing, industrial, etc. Ball Corp Valves are used in multiple applications such as steam flow to heaters, gas pressure reduction, liquid flow control, etc. The global ball valves market is likely to experience significant growth over the forecast time period, owing to the growing number of expansions witnessed by the energy and power, robust industrialization, and substantial technological developments regarding the use of mechanical engineering-based procedures. However, the lack of standardization of certifications and policies may hamper the ball valves market development globally. Additionally, a growing number of R&D activities, innovations in the technology of ball valves, and rising oil and gas exploration activities are expected to open new avenues for the global ball valves market in the future.
Browse through 139 Tables & 44 Figures spread over 110 Pages and in-depth TOC on “Global Ball Corp Valves Market Size & Share 2018: By Material Type, Industry Trends, Applications, Demand, Analysis and Forecast to 2025”.
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The global ball valves market is mainly fragmented based on material type, valve type, valve size, and end-use industry. On the basis of material type, the ball valves market includes stainless steel, cast iron, alloy based, cryogenic, brass, bronze, and others. Stainless steel is expected to account for the largest market share over the forecast time period. Cryogenic is expected to register the highest CAGR in the future. Based on valve type, the global market includes rising stem, floating, and trunnion mounted. By valve size, the ball valves market comprises up to 1”, between 1” and 6”, between 6” and 25”, between 25” and 50”, and more than 50”. The end-use industry segment is classified into oil and gas, food and beverages, energy and power, chemicals, construction, water and wastewater treatment, pharmaceuticals, pulp and paper, and others. The oil and gas industry was the most attractive market segment in 2018 and is anticipated to account for the maximum share of the ball valves market in upcoming years. The water and wastewater industry is expected to grow notably over the forecast period.
In 2018, Asia Pacific was the largest ball valves market globally. This growth can be principally attributed to the numerous initiatives taken by the different regional governments to encourage the implementation of IoT in companies across the region. Moreover, the Asia Pacific ball valves market is anticipated to be the fastest growing market globally over the next few years, owing to the increasing demand for ball valves, especially from food and beverage, energy and power, pharmaceutical, water and wastewater, and chemical industries. China and India are the major countries for the Asia Pacific ball valves.
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Furthermore, the rising automation rate, especially in China and Japan, is expected to propel this regional market over the upcoming years. Increasing domestic demand and easy access to resources have made the Asia Pacific region one of the leading producers as well as consumers of ball valves, which is further driving this market.
North America is a developed ball valves market, as ball valves are used in advanced safety systems across end-user industries. The recent discovery of shale gas reserves is anticipated to further propel the demand and production of ball valves for the oil and gas industry in the future. Moreover, the increasing demand for cleaner fuels is the key factor fuelling the North American ball valves market. Advancements in technology in several process industries require replacement and up-gradation of older valves, which is also supporting the region’s ball valves market.
Browse the full “Ball Corp Valves Market by Material Type (Stainless Steel, Cast Iron, Alloy Based, Cryogenic, Brass, Bronze, and Others), by Valve Type (Trunnion Mounted, Floating, and Rising Stem), by Valve Size (Up To 1”, Between 1” and 6”, Between 6” and 25”, Between 25” and 50”, and More Than 50”), by End-Use Industry (Food & Beverages, Oil & Gas, Chemicals, Energy & Power, Water & Wastewater Treatment, Construction, Pulp & Paper, Pharmaceuticals, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/ball-valves-market
In Europe, the government policies and stricter regulations for ballast water treatment, rising expansion activities of oil and gas production from subsea sources are propelling the ball valves market. Moreover, the high labor costs in European nations are driving the manufacturers to shift toward automation in process industries.
In Latin America, the growing capital flow and rising investments for infrastructural development are fueling the ball valves market, mainly in Brazil. Robust industrialization is leading to an elevated level of in-water pollution, which is increasing the demand for water and wastewater treatment services. Additionally, stringent environmental policies for water recycling are also propelling the region’s ball valves market. The Middle East and Africa is projected to experience moderate ball valves market growth in the future, owing to significant investments made by the international companies for ball valves projects in the regions. In terms of revenues, oil and gas facility and water and wastewater treatment plants are the major end-use industries for the region’s ball valves market.
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Some major players of the global ball valves market are Flowserve Corporation, Emerson Electric, Crane, Cameron International–Schlumberger, Kitz Corporation, IMI PLC, Neway Valves, Metso, Weir Group, Velan, Astech Valve, Conbraco Industries, and Christian Bürkert.
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This report segments the global ball valves market into:
Global Ball Corp Valves Market: Material Type Analysis
Global Ball Corp Valves Market: Valve Type Analysis
Global Ball Corp Valves Market: Valve Size Analysis
Global Ball Corp Valves Market: End-Use Industry Analysis
Global Ball Corp Valves Market: Regional Analysis
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