Ball Valves Market
Ball valves are shut-off valves that use a ball for stopping or starting the flow of water. Its small size, tight sealing, and quick turn on and off capability has led to its application for controlling liquids and gases in vents and drains. The global ball valves market report by Market Research Future (MRFR) covers the applications of ball valves as well as its prospects for the period of 2017 to 2023 (forecast period) by its historical analysis and current economic scenario. The COVID-19 pandemic and its impact on the industry have been explored in the report.
Market Scope
The global ball valves market is expected to touch a value of USD 11.56 billion by 2023 at 3.2% CAGR over the forecast period. Rise of automation and inclination towards internet of things (IoT) can drive market demand. Focus on industrialization, replacement of old ball valves, adoption of smart valves, and rapid urbanization can drive the market. Investments in wastewater treatment plants for tackling sanitation issues and need for connected ecosystems for maintenance and monitoring of industrial equipment can bode well for the global ball valves market.
Get a sample@ https://www.marketresearchfuture.com/sample_request/3349
Segmentation
By types, it is segmented into trunnion mounted, floating, rising stem, and others.
By material types, it is segmented into cast iron, cryogenic, alloy based, steel, brass, bronze, and others. The cast iron segment is predicted to showcase the highest growth during the forecast period. This is attributed to its use in pipes, components, and machines.
By size, it is segmented into up to 1”, 1”-6”, 6”-25”, 25”-50”, 50”-above, and others.
By end-user, it is segmented into utilities, energy & power, oil & gas, water & wastewater, building & construction, aerospace & defense, pharmaceuticals, food & beverage, chemicals, and others. The oil & gas sector accounted for the largest market share in 2016 owing to the construction of new nuclear energy projects and demand for process control in the sector. Control over actuators and capacity for performing in adverse environment coupled with rising energy consumption can drive the regional market demand over the forecast period.
Regional Analysis
North America is dominating the ball valve market due to the implementation of stringent government policies regarding wastewater treatment in the region. The use of industrial valves in sustaining the production of medical equipment can drive regional market demand. Increasing production of pressure relief equipment and oxygen therapy devices for providing a steady supply of oxygen to patients can be lucrative for ball valve manufacturers. Investments into automation of processes and development of fluid dispensing systems can drive the demand for ball valves.
Asia Pacific is contributing highly with the growing demand of existing power plants as per the established standards is also contributing to boost market growth. On the other hand, Europe is showing a significant growth during the forecasted period.
Get a Sample@ https://www.marketresearchfuture.com/reports/ball-valves-market-3349
Competitive Outlook
Weir Group, Swagelok Company, Flowserve Corporation, Dwyer Instruments Inc., Curtiss-Wright Corporation, Metso Oyj, Emerson Electric Company, Alfa Laval AB, Cameron-Schlumberger Ltd., Flomatic Corporation, Kitz Corporation, Velan Inc., MRC Global Inc., and others are key players of the global ball valves market. Recently, Bonomi launched low-torque automated valve balls that cater to ANSI 150 standards. They are assembled with electric actuators and save space within systems.
More Related Report@
mechanical keyboard- https://www.marketresearchfuture.com/reports/mechanical-keyboard-market-1215
which has comparatively high frequency component- https://www.marketresearchfuture.com/reports/radio-frequency-component-market-2041
8k display- https://www.marketresearchfuture.com/reports/8k-display-resolution-market-3344
application of smart irrigation system- https://www.marketresearchfuture.com/reports/smart-irrigation-market-2529
speakers for mobile phones- https://www.marketresearchfuture.com/reports/mobile-phone-loudspeaker-market-8234
stereo sound mobile phone- https://www.marketresearchfuture.com/reports/mobile-phone-loudspeaker-market-8234
weighing machine scale- https://www.marketresearchfuture.com/reports/electronic-weighing-scale-market-7604
weight machine on mobile- https://www.marketresearchfuture.com/reports/electronic-weighing-scale-market-7604
industrial weight machine- https://www.marketresearchfuture.com/reports/electronic-weighing-scale-market-7604