According to a new report, published by KBV research, 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.
The 6”–24” segment is showcasing a CAGR of 5% during (2022 - 2028). It is because these mid-sizes of the ball valves are usually utilized in the food & beverages or the pharmaceutical sectors as they are easy to install and provide a smooth and simple movement of the valve. mostly utilized in aseptic and hygienic operations, or where it is necessary to isolate the circulating fluid from any contaminates.
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. In applications where corrosion resistance is crucial, stainless steel is used over carbon steel. Stainless steel ball valves are frequently in demand from the chemical, oil and gas, pharmaceutical, and food and beverage sectors.
The Floating segment has shown the growth rate of 5% during (2022 - 2028). A floating ball valve is one where there is no trunnion holding the ball in place. The ball will typically begin to float somewhat downstream as a result of this. As a result, the seating mechanism contracts beneath the ball that is pressing against it.
The Oil & Gas segment is generating highest revenue share the Global Ball Valves Market by Industry in 2021 thereby, achieving a market value of $3.7 billion by 2028. The oil and gas industry held the biggest market share for ball valves because of the expanding transportation industry, rising energy demand, and expanding drilling activities in the Gulf Cooperation Council (GCC) nations.
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.The Europe market is exhibiting a CAGR of 4.4% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 4.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/ball-valves-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
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