Pune,India, June 12, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on “Ball Valves Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Material, End-Use Industry, and Geography”, the global Ball Valves market size market is expected to grow from US$ 16.66 billion in 2023 to US$ 22.09 billion by 2028; it is estimated to record a CAGR of 5.8% from 2023 to 2028.
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Ball Valve Market Report Scope, Segmentations, Regional & Country Scope:
| Market Size Value in | US$ 16.66 Billion in 2023 |
| Market Size Value by | US$ 22.09 Billion by 2028 |
| Growth rate | CAGR of 5.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 182 |
| No. of Tables | 83 |
| No. of Charts & Figures | 86 |
| Historical data available | Yes |
| Segments covered | Type, Material, and End-Use Industry |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | SLB, Emerson Electric Co., Curtiss-Wright Corporation, KITZ Corporation, and IMI Critical Engineering |
Browse key market insights spread across 182 pages with 83 list of tables & 86 list of figures from the report, "Ball Valves Market Forecast to 2028 - COVID-19 Impact and Global Analysis By by Type (Rising Stem, Floating, and Trunnion Mounted), Material (Stainless Steel, Cast Iron, Cryogenic, Alloy, and Others), End-Use Industry (Water Management, Oil & Gas, Chemicals, Pharmaceuticals, Energy & Power, and Others), and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/ball-valve-market
Global Ball Valves Market: Competitive Landscape and Key Developments
Schlumberger Limited, Crane Co., Curtiss Wright Corporation, Emerson Electric Co., Flowserve Corporation, IMI Critical Engineering, KITZ corporation, Valvitalia SpA, Neway valve, and Velan Inc. are among the key players profiled in the ball valve market report. Several other essential ball valve market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which can help major players strategize their growth.
In 2022: KLINGER Holding launched KLINGER Monoball KHO ball valves for the district heating pipes. Flow control capability of these valves will help enhance the performance of heating pipes, which continuously expand and contract due to heat.
In 2022: AMPO POYAM VALVES, a global valves provider, launched its new manufacturing and servicing plant ‘AMPO ARABIA’ in Dammam, Saudi Arabia.
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Furthermore, Europe is renowned for its improved living conditions, with higher income levels among residents. The rise in industrialization bolsters electricity demand, which will propel the ball valves market growth across Europe in the coming years.
France is adopting various strategies to achieve the goal of net zero carbon emissions by 2050. The government of France adopted the National Low-Carbon Strategy, which is focused on improving energy efficiency and increasing the use of renewable energy sources. According to International Energy Agency (IEA) in June 2022, electricity production in France grew from 531,762 GWh in 2020 to 554,821 GWh in 2021. In addition, with the rising electricity production, the government is focused on building new power plants generating electricity from renewable sources. According to French President in February 2022, the country will build 14 new nuclear reactors by 2050 to make France carbon neutral by 2050. Thus, the rising electricity production and building of new power plants will propel the demand for ball valves in the coming years to control the fluid and gas flow and immediately stop the flow in emergencies. To cater to the rising demand of ball valves, market players are launching new advanced upgraded ball valves. According to SAPAG VALVES in January 2021, PVI Valves unveiled new 3-piece Ball Valve GACHOT V15. It offers 360-degree orientation of the valves on the pipework. Thus, such developments by the market players is propelling the growth of the ball valves market in France.
Global Ball Valves Market: End-Use Industry Overview
Based on end-use industry, the ball valve market is segmented into water management, oil & gas, chemicals, pharmaceuticals, energy & power, and others. The oil & gas segment held the largest share of the ball valve market in 2022, as it helps ensure the safe and efficient operation of numerous processes in upstream, midstream, and downstream sectors. Also, it plays a vital role in the industry's infrastructure and piping system, regulates the flow of fluids, maintains pressure and temperature levels, and provides isolation and control in various applications.
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Ball valves use rotating spheres inside the pipe that allow and block the flow of fluids with the help of actuators. These valves provide precise control overflow rates in various industries such as wastewater and chemicals. These industries use ball valves to ensure proper wastewater treatment. Therefore, the growth in these industries bolsters the demand for ball valves, further fueling the growth of the ball valve market. According to European Environment Agency (EEA), in November 2021, Germany, Austria, the Netherlands, and Luxembourg treated 100% of urban wastewater in compliance with the Directive’s requirements. According to the source, other countries are also taking steps to treat wastewater completely. Additional ten European countries reached more than 90% compliance rate of urban wastewater treatment. Ireland, Bulgaria, Romania, Croatia, and Malta are at the other end of the scale that comply in less than half of their urban areas according to the same standards. As a result, the installation of wastewater plants is increasing in Europe, which further fuels the ball valves market growth.
The ball valves market players are introducing a new range of products to cater to the demand from end-user industries such as water & wastewater management, oil & gas, chemicals, pharmaceuticals, and others.
In June 2020: a global leader NORMA Group launched ball valves for water pipes to increase its product portfolio in the water management sector for the European market. These valves can be used to control water flow in the pipes of irrigation systems in public parks, sports fields, and agricultural areas. In addition, the company constantly markets its ball valves in Asia and Australia, which helps increase its revenue and contributes to the Europe ball valves market.
In November 2020: Germany-based company Festo unveiled a new ball valve unit with its customization services designed to simplify the manual and automatic actuator capabilities.
In December 2020: GEMÜ, a Germany-based ball valves provider, launched B series ball valves with updated sealing concepts and installation-relevant features. The company is continuously changing and upgrading its product portfolio of ball valves, specifically for industrial applications in the power generation, water treatment, chemical, and processing industries.
In November 2022: Austria-based KLINGER Holding launched KLINGER Monoball KHO ball valve for district heating pipes. The flow control capability of these valves will help enhance the performance of heating pipes, which continuously expand and contract due to heat.
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