According to the recent study the ball valve market is projected to reach an estimated $17.1 billion by 2028 from $13.9 billion in 2023, at a CAGR of 4.2% from 2023 to 2028. Growth in this market is primarily driven by growing adoption of 3D printing technologies in valve manufacturing, widespread use of these valves in a variety of industrial machinery, and increasing number of new nuclear power plant projects, globally.
A more than 150–page
report is developed to understand trends, opportunities and forecast in ball
valve market by product type (stainless steel ball valves, carbon steel ball valves,
bronze ball valves, brass ball valves, alloy ball valves, cast iron ball
valves, cast steel ball valves, and others), application (oil & gas, energy
power, chemical industry, water treatment industry, paper making industry, and
others), and region (North America, Europe, Asia Pacific, and the Rest of the
World).
“Stainless steel ball valves market is expected to remain the
largest segment during the forecast period.”
Based on product type,
the ball valve market is segmented into stainless steel ball valves, carbon
steel ball valves, bronze ball valves, brass ball valves, alloy ball valves,
cast iron ball valves, cast steel ball valves, and others. Lucintel forecasts
that the stainless steel ball valves market is expected to remain the largest
segment due to the extensive use of these valves in various end use industries,
such as pharmaceuticals, chemical, oil and gas, and food and beverages.
“Within the ball valve market, the energy power segment is
expected to remain the largest application.”
Based on application the
energy power segment is expected to witness the highest growth over the
forecast period due to the growing adoption of these valves to reduce dangerous
emissions from coal-fired energy generation and expanding number of power
plants.
“Asia pacific will dominate the ball valve market in near future.”
APAC will remain the
largest region due to the increasing need for reliable and efficient flow
control in various industries, such as chemical producers, oil and gas, water
treatment, and power generation, and growing government investment to promote
IoT implementation in industries of the region.
Major players of ball
valve market are adopting various growth strategies like new product launches,
expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. Tyco International,
Emerson Electric, Flowserve, Kitz, IMI plc, Cameron, and GE are among the major
ball valve providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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