According to “The Insight Partners” latest study on “The global ball valve market has been segmented by type into rising stem, floating and trunnion mounted ball valves”. On the basis of material, the market is bifurcated into stainless steel, cast iron, cryogenic, alloy and others. Also, by end-user verticals, the market is categorized into water management, oil & gas, chemicals, pharmaceuticals, energy & power and others. The oil & gas segment under end-user verticals segment had accounted for the largest share of the ball valve market in 2016 and is expected to continue its dominance to grow at the highest CAGR of 2.8% between 2017 and 2025.
In the material segment, stainless steel segment had the largest share of the ball valve market in 2016 however, cast iron segment is anticipated to grow at the highest CAGR between 2017 and 2025.
The geographic segments included in this report are North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The adoption of ball valve technology is constantly increasing with the increased development in the pipeline infrastructure worldwide. The continuous growth of the market is attributed to the rapid industrial growth particularly, in developing economies.
The major industry players in the Ball Valve market include Cameron Schlumberger Inc., Crane Co., Curtiss Wright Corporation, Emerson Electric Co., Flowserve Corporation, IMI PLC, KITZ Corporation, Metso Corporation, Valvitalia SpA and Velan Inc. among others.
There has been tremendous rise in the implementations of pipeline systems in advanced countries as well as in countries with huge reserves of crude oil for transportation of natural gas, crude oil, and petroleum products. Pipelines are considered as the veins of world’s economy, and thus the integrity of these systems is an extremely critical aspect to consider, in order to secure systems availability as well as operational safety. Thus, for appropriate and efficient ball valves are needed to control the flow of these high valve fuels and gases.
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Moreover, increasing production from offshore fields, increasing advancement for exploration of unconventional energy resources for example, burgeoning use of hydraulic fracturing technique for oil & gas extraction from shale rocks, and replacement of aging pipelines are further anticipated to propel the development of pipeline infrastructure thereby, bolstering the market growth for ball valves globally.
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