- Trunnion Mounted
- Rising Stem
- Floating
- Others
The Ball Valves Market size was valued at US$ 11.9 Bn in 2022 and is poised to grow at significant CAGR of 3.4% from2023-2029. Some of the key factors fueling the market growth include growing demand for process safety, need for ball valve replacement, increasing industrialization, urbanization, and smart city initiatives across the globe and rise in the number of refineries, petrochemicals and chemicals plants worldwide. However, downtime time to repair valves and increasing cost of raw material for installation of ball valves are the factors hindering the market growth. In addition, growing popularity of IoT devices especially amongst industrial devices such as ball valve is expected to provide huge growth opportunity for the market growth. Major oil producers are running out of storage space for extracted oil, while demand is trending downward. As a result, there is a significant supply-demand disparity. One of the most important industries for valves is oil and gas. Valves are also used extensively in the water and wastewater treatment, as well as the energy and power industries. These industries are also seeing a drop in demand as a result of the global epidemic. As a preventive measure to protect public health and safety, restrictions on foreign trade have been imposed due to the closure of international borders, non-operational distribution channels, and several other government policies. Global ball valves market is surging owing to frequent acquisitions and launchings by the market players. For Instance, in December 2018, Metso made an agreement with Granbech & Sanner A/S (Denmark) to offer the entire breadth of Metso's valve products and related solutions across Denmark.
Study Period
Base Year
CAGR
Largest Market
Fastest Growing Market
Process safety has been practiced as a field of research and safety management in the oil and chemical industries. Over the period there have been numerous tragic incidents, which have resulted in mortalities as well as asset, environmental, and reputational damage. While standards have enhanced, mainly in essentially safer design and management systems, catastrophic incidents are still happening and will continue to do. High performance ball valves are widely used in demanding control applications. By combining an innovative process ball valve design with various safety and plant performance expectations, the advantages of using true process valves are easy to recognize. Ball valves are suitable for handling slurries and fluids with a high solid content, and for this reason have found wide applications in the paper industry, chemical plants, and sewage treatment plants.
2022 is the base year and 2029 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Ball Valves Market size was valued at US$ 11.9 Billion in 2022 and is poised to grow at significant CAGR of 3.4% from2023-2029.
Table of Content