Market Outlook —
The global ball valves market report by Market Research Future (MRFR) details various drivers, opportunities, and challenges with respect to segments and region. Ball valves are devices which regulate the flow of liquids in line closures, maintenance isolations, and tie-ins. The use of these devices across oil & gas, aerospace & defense, and other industries can provide new prospects due to flow regulation applications.
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Construction of nuclear and power plants for supplying a steady supply of power to the oil & gas sector is expected to induce demand for ball valves during the forecast period. Emphasis on quality is pivotal for the sales of ball valves. For instance, Ampo Poyam Valves runs cryogenic tests to ensure its quality and low probability of leakages.
Urbanization and initiatives of smart city projects which would involve renovation or replacement of legacy devices can present numerous opportunities for the market. Moreover, the penetration of internet of things (IoT) across industries which can involve the subsequent automation of processes are likely to augment the market size considerably till the end of the forecast period.
Key market players include Swagelok Company, Velan Inc., Kitz Corporation, Cameron-Schlumberger Ltd., Flowserve Corporation, Weir Group, Dwyer Instruments Inc., Curtiss-Wright Corporation, MRC Global Inc., Emerson Electric Company, Flomatic Corporation, Metso Oyj, Alfa Laval AB, and others.
Mergers, collaborations, and acquisitions are strategies employed by these players to gain the edge in the competition.
The global ball valves market is segmented by type, material type, size, and end-user.
By type, it is segmented into trunnion mounted, rising stem, floating, and others. The trunnion mounted valves segment is projected to command a significant market share due to the mount suitable for downstream pressure. The changing size of operating valves and operating pressures are key to driving the segment growth during the forecast period.
By material type, it is segmented into bronze, steel, cryogenic, brass, alloy based, cast iron, and others. The cast iron segment is predicted to perform exceptionally due to its use in pipes and machines.
By size, it is segmented into 25”–50”, 50” and above, 1”–6”, 6”–25”, up to 1”, and others.
By end-user, it is segmented into water & wastewater, energy & power, aerospace & defense, oil & gas, building & construction, food & beverage, pharmaceuticals, chemicals, and others. The energy & power sector can generate the largest amount of revenue due to rapid investments by countries in the sector as well as electrification of rural areas. In addition, influx of capital in renewable energy generation projects can work in favor of the ball vales market till 2023.
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The ball valves market looks upon the following regions – Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW), for a careful consideration of the impending demand.
North America can dominate the market till 2023, in terms of demand, due to stringent policies regarding wastewater treatment. High-speed rotating solutions are the primary driver of the market in the region due to energy & power and wastewater treatment projects.
On the other hand, the APAC region is touted to display a robust CAGR during the forecast period due to development of various nuclear power plants. Rapid rate of industrialization and urbanization in South Korea and China has evoked the need for ball valves. Presence of various manufacturers as well as development of energy infrastructure projects due to the growing population and push for better products can spur the regional market growth.
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