Ball Valves Market Growth, Market Insights and Forecast to 2025
Posted by rekha on December 12th, 2019
“The Global Ball Valves Market was valued around US$ 11.4 Bn by 2018 and growing at a significant CAGR of 3.2% over next seven years 2019-2025 due to growing demand for process safety”
The global ball valves market accounted for US$ 11.4 Bn in 2018 and burgeoning over the forthcoming years. 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, and petrochemicals and chemicals plants worldwide. However, downtime time to repair valves and increasing cost of raw material the charges 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.
Global ball valves market segmented on the basis of type, material type, size, end user and region.
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Trunnion Mounted Dominate the Global Ball Valves Market
Based on type, global ball valves market segmented into trunnion mounted, rising stem, floating and others.Trunnion Mounted held considerable market share during forecast period. A trunnion mounted ball valve has added mechanical anchoring at the top and bottom on the ball. This special mounting is apt for greater and sophisticated pressure valves. Additionally, this design allows for lessening in valve torque as the ball is reinforced in two places. The trunnion mounted stem captivates the thrust from the line pressure, stopping excess friction between the ball and seats, so even at full rated working pressure operating torque remains low.
Asia Pacific Leads the Global Ball Valves market
PBI’s global Ball Valves market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis.Asia Pacific accounted for larger revenue share in global ball valves market with considerable CAGR. The growth in this region is due to rapid urbanization in emerging countries like India and China. Increasing demand for ball valves from various industries and population growth in the region are the other factors responsible for the market growth. North America held substantial market growth during estimated period owing to strict government regulations regarding water treatment in the region, advancements in technology in several process industries require replacement and up-gradation of older valves and increasing demand for cleaner fuels.
Strategic Agreements are the key strategies adopted by market players
Global Ball Valves market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in December 2018, Metso made an agreement with Grønbech & Sønner A/S (Denmark) to offer the entire breadth of Metso's valve products and related solutions across Denmark
Key player’s profiles in the report are Alfa Laval AB (Sweden), Cameron-Schlumberger Ltd.(U.S), Chemtrols (India), Curtiss-Wright Corporation (US), Dwyer Instruments Inc. (US), Emerson Electric Company (US), Flomatic Corporation (US), Flowserve Corporation (US), Kitz Corporation (Japan), Metso Oyj (Finland), MRC Global Inc. (US), Swagelok Company (US), Velan Inc. (Canada) and Weir Group (UK).
Precision Business Insights (PBI) in its report titled “Global Ball Valves Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
o Trunnion Mounted
o Rising Stem
By Material Type
o Alloy Based
o Cast Iron
o Up to 1”
o 50” and Above
By End User
o Aerospace & defense
o Building & Construction
o Energy & Power
o Food & Beverage
o Oil & Gas
o Water & Wastewater
o North America
o Latin America
o Middle East and Africa (MEA)
For More Information: https://www.precisionbusinessinsights.com/market-reports/global-ball-valves-market/
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About the Authorrekha
Joined: July 26th, 2019
Articles Posted: 219
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