The ball valves market size was valued at nearly USD 12.8 Bn in 2022 and is anticipated to reach USD 18.8 Bn by 2031, expanding at a CAGR of 4.3% during the forecast period, 2023 – 2031. The growth of the market is attributed to industrialization, rapid urbanization, and the development of smart cities around the globe.
The ball valve is a quarter-turn valve spherical-shaped closure device. Widely used ball valves allow ball rotations of 90 degrees and beyond according to their applications. The pressure and flow of gases and liquids within a system are controlled by a ball valve. Cast iron, brass, stainless steel, plastics, and titanium are preferred products for manufacturing ball valves.
Extensive usage of ball valves is seen in major industries such as food processing, manufacturing, and water treatment for the efficient conveying of free-flowing solids, fluids, and gas. Ball valves are useful in preventing, reducing, and controlling the flow of media to regulate or relieve pressure from a pipe system. Ball valves consist of a perforated, hollow, and pivoting ball with a handle.
The market report finds that the COVID-19 pandemic affected the ball valves market growth in specific industry applications. A slump in oil prices during the pandemic led to a decrease in demand for ball valves in the oil and gas industries. Lockdown restrictions led to an increased demand for essential commodities boosting the demand for ball valves in the pharmaceutical and food-processing industries.
A ball valve prevents the liquid and gas flow through fixtures. Primarily it is a shut-off valve with capabilities of saving fluids and gases through effective application in plumbing and gas distribution systems. A properly manufactured ball valve is durable for close to 10 years.
Ball valves help in the implementation of cost-saving measures. Extreme precision in controlling and adjustments for using a ball valve are not required. High-quality ball valves allow the transmission of fluids and gases in temperature ranges of -40 to 82°C (-40 to 180F).
Ball Valves Market Dynamics
Major Drivers
With increasing population and urbanization, an increase in demand from the construction industry is driving market growth. Ball valves are widely used in residential and commercial constructions for sealing properties and extended service life span which is expected to boost the market growth.
The development of industrial infrastructure is expected to boost market growth in the coming years. Increased use in control systems for airflow or fluid flow, reduces pressure leaks in a network. Applications requiring full-on or full-off conditions of flows of fluids are expected to boost the market growth in the forecast period.
Existing Restraints
Ball valves with cavities around the ball and seats are unsuitable for applications of slurry flows. Thick liquids and slurries solidify to clog the interiors of cavities. This increases the operating torque of the valve making it vulnerable to malfunctioning thereby restraining the market growth.
Emerging Opportunities
The digital process changes in industrial applications are major growth opportunities for the ball valves market. The growing implementations of the industrial internet of things (IIoT) allow remote monitoring to gauge the functional health of ball valves.
A growing number of water treatment plants around the world to tackle water scarcity is providing a significant opportunity for market growth. The focus of industry players in offering improved services to customers is a major growth opportunity for the market in the forecast period.
Scope of Ball Valves Market Report
The report on the global ball valves market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Ball Valves Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2020 – 2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Trunnion Mounted, Floating, and Rising Stem), Size (1”, 1”to 5”, 5” to 25”, 25” to 50”, and above 50"), Material (Stainless Steel, Cryogenic, Alloy, and Cast Iron), and End-user (Oil & Gas, Energy & Power, Food & Beverage, Chemicals, Water, and Pharmaceutical)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Emerson Electric Co.; Kitz Corporation; Crane Holdings, Co.; IMI PLC; Bray International; Velan Inc.; Flowserve Corporation; Schlumberger Limited; Valmet (Neles Corporation); Neway Valves Co. Ltd.; Trillium Flow; Technologies (Weir Flow Control); and Spirax Sarco Limited.
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Ball Valves Market Segment Insights
Based on the type segment, the ball valves market is divided into trunnion mounted, floating, and rising stem. The trunnion-mounted segment is expected to expand at a significant growth rate during the projection period, owing to the absorption of thrust by the stem from line pressures. Seat and ball friction is reduced considerably. Through the maximum application of pressure, the operating torque is kept low in the trunnion ball valve arrangement which is expected to boost the segment growth.
The rising stem segment is anticipated to hold a key share of the market, owing to the tilt-and-turn operation mechanism. Through this mechanism, seal-rubbing is eliminated during the opening and closing of the rising stem ball valve causing the low torque which is expected to boost the segment growth in the forecast period.
On the basis of the size segment, the market is subdivided into up to 1”, 1” to 5”, 5” to 25”, 25” to 50”, and above 50". Ball valves sized 1”–5” are manufactured on a large scale based on the media to be transported, flow pressure, vibration, and noise. Oil and gas pipeline industries and water services and make use of 1”–5” ball valves predominantly. General pressure ratings range from 1500 psi MAWP/WOG to 1250 psi MAWP/WOG which is likely to boost the segment growth in the forecast period.
The 5” to 25” segment is anticipated to hold a key share of the market due to its extensive use in oil and gas and heat exchange applications. 5” to 25” blow-down design valves that provide complete serviceability without disturbing the piping system are expected to bolster segment growth in the coming years.
On the basis of the material segment, the market is divided into stainless steel, cryogenic, alloy, and cast iron. The stainless-steel segment is projected to hold higher revenue shares in the market, owing to the high corrosion resistance of the material. The increasing demand for stainless-steel ball valves is seen from the chemical, pharmaceutical, food industries, and the oil and gas sectors for tolerating challenging conditions of gas and liquid transportation, which is likely to support the high-volume production of ball valves in the coming years.
The alloy segment is anticipated to gain significant revenue shares of the ball valves market, owing to the high-temperature resistance and the ability to withstand high pressure and exceptional bearing capacities. Iron alloys capable of handling temperatures over 2100°F (1150°C) are widely used for ball valve manufacturing for their applications of liquid and gas flows at high temperatures which are likely to boost the market growth in the years to come.
Based on the end-user segment, the ball valves market is divided into oil & gas, energy & power, food & beverage, chemicals, water, and pharmaceuticals. The energy & power segment is expected to expand at a significant growth rate during the projection period, owing to the increasing use in critical applications. The growing use of ball valves in steam & gas turbines and hydropower generation power plants is expected to drive the segment growth.
The food & beverage segment is anticipated to hold a key share of the market, due to the increasing utility use of ball valves for the transportation of water and steam in manufacturing plants. Another primary use of ball valves in the direct transportation of food is expected to boost segment growth in the projection period.
In terms of region, the global ball valves market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period owing to the growth of process industries such as power generation and petroleum refining. The market growth of Asia Pacific is attributed to the increasing government initiatives for introducing IoT in the industries.
North America is projected to grow at a rapid pace in the market of ball valves, owing to a well-established oil and gas market. The increasing industrialization in the region and the growing number of food & beverage manufacturing plants is expected to enhance the market in North America.
Segments
The global ball valves market has been segmented on the basis of
Type
- Trunnion Mounted
- Floating
- Rising Stem
Size
- 1”
- 1” to 5”
- 5” to 25”
- 25” to 50”
- Above 50"
Material
- Stainless Steel
- Cryogenic
- Alloy
- Cast Iron
End-user
- Oil & Gas
- Energy & Power
- Food & Beverage
- Chemicals
- Water
- Pharmaceutical
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Emerson Electric Co.
- Kitz Corporation
- Crane Holdings, Co.
- IMI PLC
- Bray International
- Velan Inc.
- Flowserve Corporation
- Schlumberger Limited
- Valmet (Neles Corporation)
- Neway Valves Co. Ltd.
- Trillium Flow Technologies
- Spirax Sarco Limited
Competitive Landscape
Key players competing in the ball valves market are Emerson Electric Co.; Kitz Corporation; Crane Holdings, Co.; IMI PLC; Bray International; Velan Inc.; Flowserve Corporation; Schlumberger Limited; Valmet (Neles Corporation); Neway Valves Co. Ltd.; Trillium Flow; Technologies (Weir Flow Control); and Spirax Sarco Limited.
These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide. The competitive landscape covers key insights into growth strategies adopted by major market players.
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