The New report "Global Ball Valves Market" accounted to USD 12.0 billion in 2016 growing at a CAGR of 3.0% during the forecast period of 2017 to 2024.
The “Global Ball Valves Market”, By Type (Floating, Rising Stem, Trunnion Mounted, Others) By Material Type (Alloy Based, Bronze, Brass, Steel, Cryogenic, Cast Iron, Others), By End-user (Chemicals, Food & Beverage, Pharmaceuticals, Building & Construction, Aerospace & defense, Oil & Gas, Water & Wastewater, Energy & Power, Utilities, Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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A ball valve is a form of quarter-turn valve which uses a hollow, perforated and pivoting ball (floating ball) to control flow through it. The Ball Valves is being used in the various sectors such as aerospace & defense, oil and gas industry and among them.
The market of ball valve is growing because of various factors such as evolution of IOT and developments in automation ecosystem such as mergers & acquisitions, collaborations, increasing demand for industrialization in emerging economies, and demand for process safety.The Asia-pacific is the fastest growing in this market due to increasing development in these countries.
Major Market Drivers and Restraints:
- Process Plant Modernization
- Increase in Energy Consumption
- Increasing Manufacturing Industry
- Demand for Process Safety
- Slowdown of the Mining Industry in APAC, Latin America, and Africa
Competitive Analysis: Global Ball Valves Market
Ball Valves Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Ball Valves Market
Some of the major players operating in Ball Valves Market are Emerson, Flowserve Corporation, Cameron–Schlumberger Ltd., Crane Co., IMI PLC., Kitz Corporation, Metso, Neway Valves Co. Ltd., Velan Inc., Weir Group PLC, Burkert Fluid Control Systems, Curtiss-Wright Corporation, Alfa Laval, Apollo Valves, Valvitalia S.P.A , Alfa Laval AB, Swagelok Company, MRC Global Inc., Emerson Electric Company, Weir Group, among others.
In 2017, Emerson acquired Pentair Valves & Controls, which will integrate into its automation solutions platform.
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Market Segmentation: Global Ball Valves Market
On the basis of type the Ball Valves Market is segmented into Synchronous Floating, Rising Stem, Trunnion Mounted, Others. The Trunnion Mounted market is expected to grow in the forecasted period.
On the basis of material used the Ball Valves Market is segmented into Alloy Based, Bronze, Brass, Steel, Cryogenic, Cast Iron, Others. The alloy based market is expected to grow in the forecasted period.
On the basis of end-user the Ball Valves Market is segmented into Chemicals, Food & Beverage, Pharmaceuticals, Building & Construction, Aerospace & defense, Oil & Gas, Water & Wastewater, Energy & Power, Utilities, Others. The Energy & Power market is expected to grow in the forecasted period.
On the basis of geography, Ball Valves Market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
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