The Global Ball Valves Market size is expected to reach $16.7 billion by 2028, rising at a market growth of 4.8% CAGR during the forecast period.
A ball valve is a mechanical device that opens, closes, or partially obstructs the passage of a fluid to control or steer it. By opening, closing, or partially obstructing numerous passages, a valve regulates, directs, or controls the flow of a fluid (gases, liquids, fluidized solids, or slurries). Although formally referred to as valve fittings, valves are typically considered in the context of their category. Fluid flows from higher to lower pressure when a valve is open.
The word is derived from the Latin word "valva," the moving component of a door, which itself is derived from the verb volvere, to turn or roll. Valves have a wide range of applications, including regulating fluid flow for irrigation, industrial processes, process control, and household usage including on/off and pressure control for dishwashers, laundry washers, and faucets. Aerosols also have a little valve built in. Valves are employed in the transportation and defense industries.
A type of quarter-turn valve called a "ball valve" contains a hollow, perforated, and pivoting ball to control the flow of fluid through it. When the ball's hole is in line with the flow, the valve is open; when the hole is turned 90 degrees by the valve handle, the valve is closed. Additionally, the handle is flat in alignment when it is open and perpendicular when it is closed.
Ball valves have a long lifespan, are dependable, close securely, or continue to function properly even after extended periods of inactivity. Ball valves are created with all of these characteristics accessible for a variety of uses. The handle of the valve rests flat in line with the flow while it is open and perpendicular to it when it is closed, making it simple to visually confirm the status of the valve.
Either clockwise or counterclockwise movement is possible for the 1/4 turn in the closed position. Ball valves are dependable and continue to function properly even after many cycles and extended idleness. Despite lacking the fine control of other alternatives for throttling applications, they are typically preferred to gates and globe valves for shutdown and control applications.
Due to the relatively advanced manufacturing technology of Ball Valves, the market for these products is not highly concentrated. Additionally, some companies, such as LandT Valves, Kirloskar Brothers, Emerson, and others, are well known for the excellent performance of their Ball and Butterfly Valves. Ball and butterfly valve consumption is influenced by downstream industries and the Indian economy. The growth rate of the Ball Valves business may not continue to be as rapid in the next years due to the economy of India always being somewhat unstable. However, it is predicted that there is still room for growth in the market for ball valves.
Industrial infrastructure is expanding significantly as a result of urbanization and population growth. Several cities can respond quickly and accurately to issues in the areas of energy, transportation, healthcare, education, as well as to natural disasters while also strengthening their communities' inclusivity, resilience, and sustainability with the integration of the appropriate technologies and the know-how to manage them. Cities are starting to integrate technological dynamism into municipal operations and will do so going forward, including transportation and infrastructure repair.
Valves are essential parts of a variety of industrial machinery. Incorrect valve operation may cause plant operations to be interrupted. Unplanned downtime occurs when conventional schedule-based maintenance techniques are unable to warn manufacturing organizations about probable valve failures. However, recent advancements in communications, data science, and computing power have made it possible for businesses to use Industrial Internet of Things (IIoT) technology to cut down on unscheduled downtime caused by valve failure.
Depending on the region, different laws and regulations apply to ball valve manufacturers. Depending on the sectors and uses, standardization may vary. Numerous industries, such as energy & electricity, oil & gas, building & construction, and semiconductor, which have specific standard requirements, use ball valves. The obligation for producers to follow these various standards results in higher manufacturing costs, which limits market expansion.
Based on the Material, the Ball Valves Market is divided into Steel, Cast Iron, Cryogenic, Alloy Based, and Others. The cast iron segment witnessed a significant revenue share in the ball valves market in 2021. It is because Cast iron, commonly referred to as grey iron, is a metal that has been utilized for many centuries. It is an alloy with a composition of 96%–98% iron, 2%–4% carbon, and trace amounts of silicone.
Based on Type, the Ball Valves Market is segmented into Trunnion-mounted, Floating, and others. The trunnion-mounted segment garnered the largest revenue share in the ball valves market in 2021. By absorbing the thrust from the line pressure, the trunnion-mounted stem reduces friction between the ball and seats. Thus, even at maximum pressure, the operation torque is still minimal.
By Size, the Ball Valves Market is bifurcated into <1”, 1” −5”, 6”–24”, 25”–50”, >50. The >50 segment registered a promising revenue share in the ball valves market in 2021. It is because massive industries such as oil & gas require large ball valves for better safety and security. Ball valves are made to regulate the flow of high-pressure gases and liquids with the least amount of pressure loss. They have a tight seal with little torque and are quick to open and close.
Based on the Industry, the Ball Valves Market is classified into Oil & Gas, Energy & Power, Water & Wastewater Treatment, Chemicals & Pharmaceuticals, Building & Construction, Agriculture, Metals & Mining, Pulp & Paper, and Others. The energy & power segment registered a substantial revenue share in the ball valves market in 2021. It is because ball valves are used by the energy and power sector to provide safety in crucial applications. The majority of the world's primary electricity is produced by coal, which accounts for 37% of total energy production.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 12.2 Billion |
| Market size forecast in 2028 | USD 16.7 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 4.8% from 2022 to 2028 |
| Number of Pages | 304 |
| Number of Tables | 540 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Size, Material, Type, Industry, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
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| Restraints |
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Region-wise, the Ball Valves Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region procured the highest revenue share in the ball valves market in 2021. It is because China has a strong industrial base. The main industries in this nation include process industries like chemical manufacture, petroleum refining, and public utilities like electric power generating. Control valves are used in these industries to perform complete control and monitoring.
Free Valuable Insights: Global Ball Valves Market size to reach USD 16.7 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., Schlumberger N.V., Flowserve Corporation, Crane Co., Kitz Corporation, Velan, Inc., IMI Plc., Valmet Oyj, Spirax Sarco Limited, and Trillium Flow Technologies.
By Size
By Material
By Type
By Industry
By Geography
The global Ball Valves Market size is expected to reach $16.7 billion by 2028.
The Rapid Development Of Smart Cities, Urbanization, And Industry are driving the market in coming years, however, There Are No Standards Or Governing Laws restraints the growth of the market.
Emerson Electric Co., Schlumberger N.V., Flowserve Corporation, Crane Co., Kitz Corporation, Velan, Inc., IMI Plc., Valmet Oyj, Spirax Sarco Limited, and Trillium Flow Technologies.
The expected CAGR of the Ball Valves Market is 4.8% from 2022 to 2028.
The Steel segment acquired maximum revenue share in the Global Ball Valves Market by Material in 2021 thereby, achieving a market value of $5.9 billion by 2028.
The Asia Pacific market dominated the Global Ball Valves Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6.1 billion by 2028.
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