Ball Valves Market Size, Share, and Trends 2024 to 2033

The new report published by The Business Research Company, titled ""Ball Valves Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the ball valves market size has grown steadily in recent years. It will grow from $13.31 billion in 2023 to $13.87 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The ball valves market size is expected to see steady growth in the next few years. It will grow to $16.23 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%.

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Urbanization Surge Sparks Expansion In Ball Valve Market Demand
Rapid urbanization is expected to drive the growth of the ball valve market going forward. The development of infrastructure and construction activities due to urbanization has increased demand for ball valves. For instance, according to a report by World Bank, in 2022, approximately 4.4 billion people, or 56% of the world's population, resided in cities. By 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to surpass its current level. Thus, the rise in urbanization is propelling the growth of the ball valve market.

Rising Adoption Of 3D Printing Revolutionizes Ball Valve Market Dynamics
Implementation of 3D printing technologies is the key trend gaining popularity in the ball valve market. 3D printing is a technique for building three-dimensional objects layer by layer by using a computer-generated design. 3D printing optimises valves for customer-specific requirements. For instance, in May 2021, Neles Corporation, a Finland-based company specialised in designing and manufacturing industrial valves and valve automation solutions, introduced a 3D-printed valve for field testing. The valve is a T5-series standard stainless steel ball valve. The field testing generated abundant valuable information about the potential of making pressure-retaining parts using 3D printing with noticeably shorter lead times. Additionally, 3D-printed noise attenuation trims use less material and have better flow paths than traditionally manufactured trims.

The ball valves market covered in this report is segmented -

1) By Types: Trunnion-Mounted Ball Valves, Floating Ball Valve, Rising Stem Ball Valve
2) By Material: Steel, Cast Iron, Cryogenic, Alloy Based, Other Materials
3) By Size:

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