Press release
Ball Valves Market: Steady Growth, Key Drivers, and Emerging Trends
What Is The Projected Market Size Of The Global Ball Valves Market And Its Growth Rate?
- The ball valves market size has grown from $13.67 billion in 2024 to $14.17 billion in 2025 at a CAGR of 3.7%.
- The market is expected to see steady growth and reach $17.01 billion in 2029 at a CAGR of 4.7%.
- The forecast period growth can be attributed to the emphasis on smart valves, renewable energy projects, and stringent environmental regulations.
What Is Driving The Growth In The Ball Valves Market?
Rapid urbanization is the primary force propelling the growth of the ball valve market. Infrastructure and construction activities due to urbanization have escalated the demand for ball valves. For example, a World Bank report in 2022 indicated that approximately 4.4 billion people, equating to 56% of the world's population, lived in cities. This number is predicted to surge, with around 7 out of 10 people residing in urban areas by 2050. Thus, the rise in urbanization is fostering the ball valve market's expansion.
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Who Are the Key Players Driving Ball Valves Market Growth?
Key industry players in the ball valves market include:
- Emerson Electric Co.
- Schlumberger Limited
- Flowserve Corporation
- IMI PLC.
- Valmet (Neles Corporation)
- Spirax Sarco Limited
- Honeywell International Inc.
- Parker Hannifin Instrumentation Products Division
- SSP Fittings Corp.
What Are The Key Trends In The Ball Valves Market?
Key trends in the market include:
- Increasing adoption of automation and control systems.
- Integration of advanced materials.
- Rising role in industrial process control.
- Demand for high-pressure and high-temperature applications.
- Shift towards floating ball valve designs.
- Strategic mergers and acquisitions.
What Are The Segments Of The Global Ball Valves Market?
The ball valves market is segmented by:
1. Types: Trunnion-Mounted Ball Valves, Floating Ball Valve, Rising Stem Ball Valve
2. Material: Steel, Cast Iron, Cryogenic, Alloy Based, Other Materials
3. Size:
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