Ball Valve Market is Projected to Reach $12.89 billion, at a CAGR of 2.44% According to a New Research

According to the new research report published by The Insight Partners, titled “Ball Valve Market - Global Analysis and Forecast to 2025”, the global ball valve market is expected to reach US$ 12.89 billion in 2025, registering a CAGR of 2.2% during the forecast period 2017 to 2025.

The the oil & gas industry is the largest end-user segment in Europe. However, it is experiencing sluggish growth rate. The availability of new crude oil sources in the North America region especially in US and the consequent increases in re?ning capacity brings a negative impact on ball valve sales in Europe. Since 2007, fourteen re?neries in Europe have been closed, among these most are from France, where re?ning capacity dropped by 30% to 1.4 million b/d since 2008. The re?ners are planning more closures with dip in re?ning margins. Closures are likely to come from Italy where capacity there has shrunk by 10% over the past six years compared with 15% in Germany and 22% in the UK. The European market for ball valve is expected to witness a lucrative CAGR growth of 1.56% in the forecast period.

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Key findings of the study:

• From a growth perspective India in Asia-Pacific region is anticipated to witness the most lucrative CAGR growth rate of 3.09% during the forecast period

• Based on type, the trunnion mounted ball segment is projected to witness significant lucrative profitable opportunities with projected CAGR growth rate of 2.84%

• The surge in spending towards deep sea exploration and beginning of production from oil reserves projects to boost the oil & gas segment market growth globally thereby registering a CAGR of 2.80%

The global market for ball valve has been segmented on the basis of different types of ball valves, which includes rising stem ball valves, floating ball valves and Trunnion ball valves. Each ball valve has a different application and is designed to fulfil varied end – users demand. Some of the key end – users of this market are, oil & gas, chemical, pharmaceuticals and power & energy. Oil & Gas industry is the largest consumer of ball valves and would continue its dominance over the forecast period.

Ball Valve Market - Company Profiles

• Cameron Schlumberger Inc.
• Crane Co.
• Curtiss Wright Corporation
• Emerson Electric Co
• Flowserve Corporation
• IMI Plc
• KITZ Corporation
• Metso Corporation
• Valvitalia SpA
• Velan Inc

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Growing demand for oil & gas energy coupled with an increase in deep sea oil & gas exploration activities

According to the International Energy Agency, growth in oil supply next few years is expected to outpace an anticipated pick-up in demand and this will boost global consumption above 100 million bpd next year for the first time. Some new pipeline projects will come into execution in Also, the Canadian Association of Petroleum Producers (CAPP) announced that the country will transport an added capacity of oil sands production to markets across North America and other global regions. U.S. crude oil and petroleum product gross exports have more than doubled over the past six years, increasing from 2.4 million barrels per day (b/d) in 2010 to 5.2 million b/d in 2016. Exports of distillate, gasoline, propane, and crude oil have increased in total.

Apart from this, China is also planning to develop cleaner energy supplies. Natural gas is expected to play a key role in the years to follow because of its low price and low emissions. Increasing demand for natural gas provides a push to the construction of gas pipeline-related projects in China and is expected to boost the industrial valves market in the oil and gas industry. Moreover, the increase in investment towards commercialization and subsequent production of oil reserve along with surge in deep sea exploration is also anticipated to boost the demand for various valves demand. Subsequently, driving the growth for ball valve market in the coming years

GLOBAL BALL VALVE – MARKET SEGMENTATION

Ball Valve Market – By Type
• Rising Stem Ball Valve
• Floating Ball Valve
• Trunnion Mounted Ball Valve

Ball Valve Market – By Material
• Stainless Steel
• Cryogenic
• Cast Iron
• Alloy
• Others

Ball Valve Market – By End-user Vertical
• Water Management
• Oil & Gas
• Chemicals
• Pharmaceuticals
• Energy & Power
• Others

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This release was published on openPR.