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 [email protected]