Increasing Oil & Gas Exploration, Emergence of IIoT and Demand for process Safety to Burgeon the Ball Valve Market Growth at a CAGR of 2.44% during 2017-2025Published Date: Jul 2017
The global Ball Valve market accounted for US$ 10.38 Bn in 2016 and is expected to grow at a CAGR of 2.44% during the forecast period 2017 - 2025, to account for US$ 12.89 Bn in 2025.
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.
The report segments the global Ball Valve market as follows:
Global Ball Valve Market - By Type
Rising Stem Ball Valves
Floating Ball Valves
Trunnion Mounted Ball Valves
Global Ball Valve Market - By Material
Global Ball Valve Market - By End-User Verticals
Oil & Gas
Energy & Power
Global Ball Valve Market - By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)