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Ball Valves Market worth $19.15 billion by 2030, growing at a CAGR of 5.84% - Exclusive Report by 360iResearch
Ball Valves Market | 360iResearch
The Global Ball Valves Market to grow from USD 12.86 billion in 2023 to USD 19.15 billion by 2030, at a CAGR of 5.84%.
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Ball valves are quarter-turn valves that use a hollow, perforated, and pivoting ball to control flow. They are considered one of the most reliable valve types and are commonly used in various industries to control the flow of liquids, gases, and slurries. The valve's simplicity, durability, and reliability make it commonly used in industrial and domestic applications. Ball Valves have a wide application range due to their function and design versatility. Some of the prevalent applications include flow control processes in the oil and gas sector, chemical storage and transportation systems, water and wastewater management facilities, and processed food & beverage systems. The increase in global industrialization and urbanization, advancements in technology leading to improved valve designs and materials, and government regulations and safety norms pushing for more reliable flow control solutions have driven the growth and adoption of ball valves. However, fluctuating raw material prices affect the cost of ball valve production, and several operational issues in extreme conditions affect the durability and performance of ball valves. However, manufacturers have invested in developing smart valves with IoT connectivity, which can facilitate better flow monitoring and control and create new opportunities for growth for the industry. Furthermore, research into additive manufacturing processes to create complex and customized valve designs also fuels the industry's progress.
The Americas region is characterized by a robust infrastructure in several industries, such as food and beverage, chemical plants, and pharmaceutical industries, which drives the growth of ball valves. The presence of key players in this region, constant product innovations, and government support for infrastructure upgradation have fuelled demand for ball valves. Europe's ball valve market is driven by strict government regulations pertaining to environmental standards and energy efficiency. As a result, industries have been adopting ball valves as they are known for minimal fluid resistance, prompt response, and ease of operation, which contribute to energy conservation. Furthermore, with an established industrial sector, the adoption of automated ball valves is increasing to enhance operational efficiency and integration with smart technology and the Internet of Things (IoT) for process optimization, especially in countries such as Germany, the UK, and France. As a manufacturing powerhouse, the Asia-Pacific region has a high demand for industrial valves. Rapid industrialization and growth in sectors such as oil and gas and energy generation are key drivers. Moreover, the region's growth in maritime trade has necessitated more adoption of ball valves in shipbuilding and offshore platforms.
Market Segmentation & Coverage:
This research report categorizes the Ball Valves Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Types, market is studied across Floating Ball Valve, Rising Stem Ball Valve, and Trunnion-mounted Ball Valves. The Floating Ball Valve commanded largest market share of 33.68% in 2023, followed by Trunnion-mounted Ball Valves.
Based on Material, market is studied across Alloy Based, Cast Iron, Cryogenic, and Steel. The Alloy Based commanded largest market share of 30.71% in 2023, followed by Cryogenic.
Based on Size, market is studied across 1" to 5", 25" to 49", 50" & Larger, 6" to 24", and Up to 1". The 1" to 5" commanded largest market share of 29.35% in 2023, followed by 6" to 24".
Based on Industry, market is studied across Agriculture, Building & Construction, Chemicals, Energy & Power, Food & Beverages, Metals & Mining, Oil & Gas, Pharmaceuticals, Pulp & Paper, and Water & Wastewater Treatment. The Oil & Gas commanded largest market share of 23.15% in 2023, followed by Chemicals.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 40.25% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Ball Valves Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Ball Valves Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Ball Valves Market, highlighting leading vendors and their innovative profiles. These include 3M Company, ABB Ltd., Alfa Laval AB, ASC Engineered Solutions, LLC, AVK Group A/S, BELIMO Holding AG, Bray International, Inc., Crane Holdings, Co., Curtiss-Wright Corporation, Dembla Valves Ltd., Emerson Electric Co., Festo SE and Co. KG, Finolex Industries Ltd., Flomatic Corporation, Flowserve Corporation, Georg Fischer Ltd., Hayward Industries, Inc., Hitachi Ltd., Honeywell International Inc., KITZ Corporation, KLINGER Holding, Milwaukee Valve Corporation, MV Nederland BV, NIBCO Inc., Parker Hannifin Corporation, Powell Valves, Robert Bosch GmbH, Schlumberger Limited, Schneider Electric SE, Siemens AG, Simtech USA, Spirax-Sarco Engineering PLC, SSP Fittings Corporation, Sulzer Ltd., Swagelok Company, Trillium Flow Technologies, Valmet Oyj, and Velan Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Ball Valves Market, by Types
7. Ball Valves Market, by Material
8. Ball Valves Market, by Size
9. Ball Valves Market, by Industry
10. Americas Ball Valves Market
11. Asia-Pacific Ball Valves Market
12. Europe, Middle East & Africa Ball Valves Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Ball Valves Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Ball Valves Market?
3. What is the competitive strategic window for opportunities in the Ball Valves Market?
4. What are the technology trends and regulatory frameworks in the Ball Valves Market?
5. What is the market share of the leading vendors in the Ball Valves Market?
6. What modes and strategic moves are considered suitable for entering the Ball Valves Market?
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