March 5 2021
Market Research Future published a research report on “Ball Valves Market Research Report - Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The recent report published by Market Research Future (MRFR) reveals that the global ball valves market is touted to reach an astounding USD 11.56 billion mark during the forecast period (2017-2023). The report further encompasses drivers and several segments and analyzes them in detail to offer a comprehensive knowledge of the market with reliable predictions. Spurred by the Internet of Things (IoT), transforming industrial milieu in developing countries across the globe is creating a wider expanse for Ball Valves Market to have a solid foundation. Furthermore, its popularity can be measured in terms of people’s preference for safety which can substantially trigger the market growth. The sector is also gaining traction from nuclear power stations and oil & gas industry where the component has multifarious usage.
On a different note, the market can lag due to its susceptibility to wear and tear if exposed to wrong types of fluids such as slurries. At the same time, throttling position can also cause erosion which can impede the market growth. However, the market growth cannot be plateaued for as long as several industries are creating substantial demand for the product.
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The prominent players in the ball valves market are Alfa Laval AB (Sweden), Swagelok Company (US), MRC Global Inc. (US), Emerson Electric Company (US), Weir Group (UK), Kitz Corporation (Japan), Velan Inc. (Canada), Curtiss-Wright Corporation (US), Cameron-Schlumberger Ltd. (U.S), Flowserve Corporation (US), Metso Oyj (Finland), Flomatic Corporation (US) and Dwyer Instruments Inc. (US) and others.
Ball Valves Market – Segmentation
The global ball valves market can be segmented by type, port types, material types, size, and end-users. By type, the market includes floating, rising stem, trunnion mounted and others. Based on material type, the market can be segmented into alloy-based, bronze, brass, steel, cryogenic, cast iron, and others. Size-based segmentation reveals up to 1”, 1”–6”, 6”–25”, 25”–50”, 50” and above, and others. Base on end-users, the market includes chemicals, food & beverage, pharmaceuticals, building & construction, aerospace & defense, oil & gas, water & wastewater, energy & power, utilities, and others.
Global Ball Valves Market – Regional Analysis
Region-specific segmentation encompasses namely Asia Pacific (APAC), North America, Europe and Rest-of-the-World (RoW).
North America is currently dominating the global market. Assisted by stringent regulations controlling the wastewater management, the segment is witnessing significant penetration across industries and is gaining much revenue in the process. Europe is also following the same suit as the region has strict environmental protocol promoting the use of ball valves further. The APAC is witnessing high revenue generation with several power plants boosting the demand for ball valves.
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