Increasing need for smart valve adoption and replacement of out-of-date ball valves is a major factor driving Ball Valves market revenue growth
Vancouver, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The global Ball Valves Market size was USD Billion 13.12 in 2022 and is expected to register a revenue CAGR of 4.9% during the forecast period, according to the latest analysis by Emergen Research. Growing projects to build more new nuclear power plants and replace existing valves across the globe is a major factor expected to drive market revenue growth during the forecast period. The ball valves market revenue growth is driven by the expanding global energy demand. The need for dependable flow control products including ball valves grows dramatically as the infrastructure for energy production and delivery develops. Ball valves are essential parts in the production, transportation, and exploration of oil and gas, as well as the construction of power plants. They are essential in guaranteeing efficient and safe flow of fluids in pipelines, which lowers the chance of leaks and accidents. To meet the rising need for energy, there is a rising demand for high-quality ball valves that provide tight shut-off capabilities, corrosion resistance, and long-term reliability. The demand is driven by valve technology innovation. Vacuum Check Valve
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For example, on 15 March 2022, the 585HP-LF and 585HP-66-LF bronze ball valves are now available in 2 12", 3", and 4" sizes, with solder, threaded, and press end connections, from NIBCO Inc. The lead-free and resistant to corrosion 585HP full port ball valve series is intended for industrial and commercial uses and offers simpler installation, flexibility, and long lifespans. Moreover, ongoing technological advancements in valve design, materials, and automation are improving efficiency and reliability of ball valves, making them more appealing to industries seeking advanced solutions.
However, applications where the temperature is higher than a predetermined threshold are not acceptable for ball valves. This is so that the valve's functionality should not be affected by damaged seals and seats. compared to other types of valves, ball valves are often more expensive. This is due to their more intricate designs, which call for precise manufacture.
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Revenue in USD Billion and CAGR in % from 2023 to 2032
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Type, material, actuation type, application, and region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Emerson Electric Co., SLB, Flowserve Corporation, IMI, Trillium Flow Technologies, Bray International, Honeywell International Inc., Crane Company, ALFA LAVAL, KITZ Corporation, Hawa Valves
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Major Companies and Competitive Landscape
The global ball valves market is fragmented, with many companies accounting for the majority of market revenue. Major companies are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective ball valves. Some major companies included in the global ball valves market report are:
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On 21 March 2023, InterApp Bianca and Desponia butterfly valves are significant valves in BMG's range and are advised for use in demanding industrial flow regulation applications because of their great efficiency and safety. A wide variety of components are provided and supported by BMG's Fluid Technology division for use in fluid technology platforms and other industrial applications. These goods include pumps and reservoir accessories as well as valves, hydraulic lines and fittings, accumulators, cylinders, exchangers for heat, hydraulic motors, and hydraulic plumbing.
Some Key Highlights from the Report
The hydraulic segment is expected to register highest revenue CAGR during the forecast period. Hydraulic valves are continuously enhanced with novel mechanical concepts. These advancements have immediate relevance to field bus systems and are included in digital electronics and aboard. Most integrated circuits have digital electronics with potent processors for component-level decentralized intelligence.
The steel segment accounted for a significantly large revenue share in 2022. With their endurance and resistance to corrosion, steel ball valves are frequently employed in a variety of sectors. They play an essential role in maintaining steady performance and durable operation in harsh settings by regulating the flow of gases and liquids in pipelines and systems.
The market in North America accounted for the second largest revenue share in 2022 owing to rising demand for ball valves in Heating, Ventilation, and Air Conditioning (HVAC) systems due to their adaptability and dependability. They regulate the flow of fluids and air in HVAC systems.
On 11 January 2023, Ampo Poyam Valves launched a hypercentric ball valve that combines attributes of high-performance valves into a single product. It has durability and strength of a metal-to-metal trunnion ball valve with the effective sealing capabilities of a triple-offset butterfly valve. High-integrity and improved performance valves are becoming more and more in demand in the energy sector for a variety of crucial applications and demanding services.
Browse a Detailed Summary of the Research Report @ https://www.emergenresearch.com/industry-report/ball-valves-market Emergen Research has segmented the global ball valves market on the basis of type, material, actuation type, size, application, and region:
Type Outlook (Revenue, USD Billion; 2019–2032)
Material Outlook (Revenue, USD Billion; 2019–2032)
Actuation Type Outlook (Revenue, USD Billion; 2019–2032)
Size Outlook (Revenue, USD Billion; 2019–2032)
Application Outlook (Revenue, USD Billion; 2019–2032)
HVAC (Heating, Ventilation, and Air Conditioning)
Regional Outlook (Revenue, USD Billion; 2019–2032)
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