Emerging Trends to Drive Ball Valves Market Growth at 4.2% CAGR Through 2029

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Ball Valves Market Size Growth Forecast: What to Expect by 2025?
In past years, there has been consistent growth in the size of the ball valves market. It is expected to expand from a market value of $13.67 billion in 2024 to $13.98 billion in 2025, reflecting a compound annual growth rate (CAGR) of 2.3%. The historic period's growth has been driven by factors such as oil and gas exploration and production, water and wastewater treatment, the processing of petrochemicals and chemicals, emphasis on energy efficiency, infrastructure development, and automation and control systems.

How Will the Ball Valves Market Size Evolve and Grow by 2029?
The market for ball valves is projected to experience consistent growth in the upcoming years, blossoming to a valuation of $16.5 billion by 2029 with a compound annual growth rate (CAGR) of 4.2%. Factors driving this growth during the forecast period encompass the emphasis on smart valves, the upsurge in renewable energy initiatives, concerns surrounding water shortage, strict environmental guidelines, resilience in supply chains, and the emergence of new end-user sectors. Prevalent trends expected during the forecast period are the heightened adoption of automated and control systems, incorporation of cutting-edge materials, growing involvement in industrial process control, demand pertaining to high-pressure and high-temperature applications, transition towards floating ball valve designs, as well as calculated mergers and acquisitions.

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What Drivers Are Propelling the Growth of Ball Valves Market Forward?
The anticipated surge in urbanization is predicted to fuel the expansion of the ball valve market. Infrastructure development and construction activities driven by urbanization have intensified the demand for ball valves. For example, a World Bank report in 2022 indicated that about 4.4 billion people, equating to 56% of the global population, lived in urban areas. By 2050, roughly 7 of every 10 individuals will inhabit cities, and urban population is expected to exceed its present size. Therefore, the escalating rate of urbanization is fuelling the growth of the ball valve market.

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What Are the Key Trends Driving Ball Valves Market Growth?
Adoption of 3D printing technologies is seen as a major emerging trend in the ball valve marketplace. Essentially, 3D printing is a process that creates three-dimensional objects in layers, following a computer-created design. This technology allows for customization of valves to fit the specific needs of customers. For instance, in October 2023, ThyssenKrupp Materials Services - the material supply and distribution division of the German industrial engineering and steel production firm, ThyssenKrupp AG - along with Wilh. Wilhelmsen Ships Service, a shipping organization based in Norway, made significant investments in 3D printing as a solution. Through cutting-edge manufacturing approaches, vital spare parts can now be made quicker and more cost-efficiently than with conventional methods. Valland SpA, an Italian company that manufactures Ball, Gate, and Check Valves, designed a ball valve that was 3D printed by ThyssenKrupp utilizing recycled metal obtained from F3nice AS, an Italian metal powder company specialized in 3D printing that repurposes retired ship spare parts.

What Are the Key Segments in the Ball Valves Market?
The ball valvesmarket 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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