DUBLIN--(BUSINESS WIRE)--The "Ball Valves Market by Size (Up to 1, 1-6, 6 to 25, 25 to 50, 50 and Above), Type (Trunnion Mounted, Floating, Rising Stem), Material (Stainless Steel, Cast Iron, Alloy, Cryogenic), Industry, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The ball valves market is expected to grow at a CAGR of 3.75% from 2019 to 2024, to reach USD 15.2 billion by 2024 from USD 12.6 billion in 2019.
Need for ball valve replacement, growth in energy consumption, increasing industrialization, urbanization, and smart city initiatives across the globe are among the key driving factors for the ball valves market.
Integration of IIoT-enabled ball valves to avoid unexpected downtime, use of 3D printers in manufacturing lines, increase in the number of refineries, and petrochemicals and chemicals plants worldwide are fueling the growth of the ball valves market. However, the lack of standardization in certifications and policies can hinder the growth of the ball valves market.
Market for 1 to 6 ball valves to witness significant growth during the forecast period
The ball valves market, by size, is segmented into Up to 1, 1 to 6, 6 to 25, 25 to 50 and 50 and larger. The 1 to 6 based ball valves market is expected to witness significant growth during the forecast period.
This growth is attributed to the increasing demand for transportation and energy & power-based applications; as a result, there is an increase in the use of 1-6 valves in the oil & gas, energy & power, water & wastewater treatment, chemicals, and other industries.
Trunnion mounted ball valves to hold the largest share of ball valves market in 2019
In this report, the ball valves market, by valve type, has been segmented into trunnion mounted, floating, and rising stem ball valves. Among these, the trunnion mounted is expected to hold the largest share of the market throughout the forecast period.
Growth in energy consumption, new production technologies, demand for process safety, increasing focus on sustainability, and environmental regulations boost the trunnion ball valves market.
APAC to hold the largest share of the ball valves market from 2019 to 2024
In terms of market size, APAC is expected to dominate the ball valves market during the forecast period as it is likely to witness significant growth in the said market during the forecast period.
The population growth and rapid urbanization in developing economies, such as China and India, have prompted the speedy development in the region, which will boost the demand for ball valves from several industries such as energy & power, water & wastewater treatment, construction, chemicals, pharmaceuticals, and oil & gas.
Emerson (US), Flowserve corporation (US), Cameron Schlumberger (US), Metso (Finland), and IMI PlC (UK) are among the players operating in the ball valves market. Expansion was the most adopted strategy of the overall growth strategies adopted by the key players operating in the market from 2013 to 2018.
1.1 Objective of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for the Study
1.4 Currency and Pricing
2 Research Methodology
2.1 Market Size Estimation
2.1.1 Bottom-Up Approach
2.1.2 Top-Down Approach
2.2 Market Breakdown and Data Triangulation
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Segmentation
5.3 Market Dynamics
5.4 Value Chain Analysis
6 Ball Valve Market, By Material
6.2 Stainless Steel
6.3 Cast Iron
6.5 Alloy Based
7 Ball Valve Market, By Valve Type
7.2 Trunnion Mounted Ball Valve
7.3 Floating Ball Valve
7.4 Rising Stem Ball Valve
8 Industrial Valve Market, By Size
8.2 Up to 1
8.6 50 and Larger
9 Ball Valve Market, By Industry
9.2 Oil & Gas
9.3 Water & Wastewater Treatment
9.4 Energy & Power
9.6 Food & Beverages
9.8 Building & Construction
9.10 Pulp & Paper
9.11 Metals & Mining
9.12 Others (Textile, Glass and Semiconductor)
10 Ball Valve Market, By Geography
10.1 North America
10.3 Asia-Pacific (APAC)
10.4 Rest of the World (RoW)
11 Competitive Landscape
11.2 Market Player Ranking Analysis
11.3 Competitive Scenario
11.3.1 Competitive Situation and Trend
11.3.2 Acquisitions & Expansions
11.3.3 Product Launches and Developments
11.3.4 Partnerships & Collaborations
11.4 Competitive Leadership Mapping
11.4.2 Dynamic Players
11.4.4 Emerging Players
12 Company Profiles
12.2 Key Players
12.2.2 Flowserve Corporation
12.2.3 Cameron - Schlumberger
12.2.4 Crane Co
12.2.5 IMI PLC
12.2.6 Kitz Corporation
12.2.7 Metso Corporation
12.2.8 Neway Valve (Suzhou) Co. Ltd.
12.2.9 Velan Inc.
12.2.10 Weir Group
12.3.1 Burkert Fluid Control Systems
12.3.2 Curtiss-Wright Corporation
12.3.3 Alfa Laval
12.3.4 Apollo Valves
12.3.5 Valvitalia S.p.A.
12.4 Other Important Key Players
12.4.1 AVK Holdings A/S
12.4.2 Dwyer Instruments
12.4.4 Samson AG
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