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Kenneth Research, in its repository of market research reports, has recently added a report on Ball Valves Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Ball Valves Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Ball Valves Market products.
On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
Global Ball Valves Market
By Size (Up to 1”, 1”–6”, 6”–25”, 25”–50”, 50” and above), Type (Floating, Rising Stem, Trunnion Mounted), Material (Cryogenic, Alloy, Cast Iron, Stainless Steel), Vertical, and Regional Market Size, Status and Forecast to 2025
Market Overview:
The Global Ball Valves Market was valued at USD 11.82 billion in 2016 and is projected to reach USD 15.22 billion by 2025, growing at a CAGR of 2.85% from 2017 to 2025.
Final Report will add the analysis of the impact of COVID-19 on this industry.
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A Ball Valve is a form of quarter-turn valve which uses a hollow, perforated and pivoting ball to control flow through it. It is open when the ball's hole is in line with the flow and closed when it is pivoted 90-degrees by the valve handle. Benefits of ball valve include – high efficiency, affordability, increased durability, easy to use, strong, versatile, and simple to repair.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Rising energy consumption
1.2 Increasing manufacturing industry
1.3 Rising demand for process safety
1.4 Modernization of process plant
2. Market Restraints
2.1 Lead Time
2.2 Declining mining industries
Market Segmentation:
The Global Ball Valves Market is segmented on the size, type, material, vertical, vertical, and region.
1. Size:
1.1 Up to 1”
1.2 1”–6”
1.3 6”–25”
1.4 25”–50”
1.5 50” and above
2. By Type:
2.1 Floating
2.2 Rising Stem
2.3 Trunnion Mounted
3. By Material:
3.1 Cryogenic
3.2 Alloy
3.3 Cast Iron
3.4 Stainless Steel
3.5 Others
4. By Vertical:
4.1 Pharmaceuticals
4.2 Building & Construction
4.3 Oil & Gas
4.4 Energy & Power
4.5 Chemicals
4.6 Water & Wastewater
4.7 Food & Beverage
4.8 Others
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Flowserve Corporation
2. Crane Co.
3. Kitz Corporation
4. Neway Valves Co. Ltd.
5. Weir Group PLC
6. Curtiss-Wright Corporation
7. Apollo Valves
8. Valvitalia S.P.A
9. Alfa Laval
10. Burkert Fluid Control Systems
11. IMI PLC.
12. Cameron–Schlumberger Ltd.
13. Velan Inc.
14. Metso
15. Emerson
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Ball Valves Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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Myra Fletcher
Myra Fletcher is a research expert and freelance writer. She is very dedicated to her work and writing. She enjoys writing on current news in any industry and concludes the news with a highly professional report. She has almost 8 years of experience in the same field. She has strong professional skills in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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