Press release
Ball Valve Market Manufacturers, Growth Parameters, Opportunities and Demand Analysis By 2028
The ball valve market is projected to reach US$ 22.09 billion by 2028 from US$ 16.66 billion in 2023 and is expected to record a CAGR of 5.8% during 2023-2028.The ball valve market is a thriving industry that plays a crucial role in various sectors, including oil and gas, water and wastewater treatment, chemical processing, pharmaceuticals, power generation, and many others. Ball valves are mechanical devices used to control the flow of fluids through a pipeline or system using a rotating ball with a hole in it.
These industries require robust and effective flow control mechanisms to regulate the movement of fluids through pipelines and systems. Ball valves offer several advantages, making them an ideal choice for industrial applications. They provide excellent shut-off capabilities, allowing for precise control of fluid flow.
The List of Companies - Ball Valve Market
Velan Inc
Neway Valve Suzhou Co Ltd
KITZ Corp
IMI Plc
Flowserve Corp
Curtiss-Wright Corp
Crane Co
Emerson Electric Co
Schlumberger NV
Valvitalia SpA
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Based on material, the ball valve market is segmented into stainless steel, cast iron, cryogenic, alloy, and others. The stainless steel segment held the largest share of the ball valve market in 2023, whereas the alloy segment is anticipated to register the highest CAGR in the market during the forecast period. The stainless steel segment is prominent in the ball valve market, holding the largest share.
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Regional Analysis:
The Asia Pacific ball valve market was valued at US$ 6.61 billion in 2023 and is projected to reach US$ 9.54 billion by 2028; it is expected to grow at a CAGR of 7.6% during the forecast period. Due to several key factors, the Asia Pacific region has emerged as the dominant force in the ball valve market. Firstly, the region has experienced rapid industrialization and urbanization, increasing demand for infrastructure projects, including oil and gas, power generation, water and wastewater treatment, and chemical processing.
Contact Us: Ankit Mathur(Sr.Vice Persident - Research)
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Life Science, Technology, Healthcare, Manufacturing, Automotive and Defense, Food Beverages, Chemical etc.
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