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The global The Ball Valves Market, according to MRFR’s report, is expected to grow at USD 11.56 Billion by 2023, at a moderate 3.2% of CAGR over the review period (2017 to 2023).
A ball valve is a turnable valve used to shut off and on any material that flows gas or liquid. It can control the flow through the valve as it has a pivoting and perforated hollow ball. It is used in gas cylinders, water pipelines, etc. Through this, the liquid and gas can be controlled. It does not tear out easily and is durable and secure to use. For control purposes, they are the best choice. They are available in various types: reduced port, full port, V port, trunnion, multiport, and cavity filler. The growing demand for cast iron is improving the ball valves market. The ball valves are used in different sectors such as the aviation industry, aerospace and defense sectors, oil and gas industries and many more. The use of cast iron in the pipes, automotive industries and different machines propels the market growth. All of these increased usages accelerate the production of the ball valves.
The eminent players in the Ball Valves Market are – Alfa Laval AB (Sweden), Metso Oyj (Finland), MRC Global Inc. (U.S.), Emerson Electric Company (U.S.), Swagelok Company (U.S.), Weir Group (U.K.), Kitz Corporation (Japan), Curtiss-Wright Corporation (U.S.), Cameron-Schlumberger Ltd.(U.S), Velan Inc. (Canada), Flowserve Corporation (U.S.), Flomatic Corporation (U.S.), and Dwyer Instruments Inc. (U.S.) among others.
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At a different note, if exposed to wrong types of fluids, such as slurries, the market can lag because of its susceptibility to wear and tear. At the same time, throttling place can also result in erosion that can impede business growth. Market growth cannot, however, be plateaued as long as many industries build significant product demand.
The global ball valves market can be analyzed by port types, type, size, material types, and end-users.
By type, the ball valves market includes rising stem, floating, and trunnion mounted and others.
Based on material type, the ball valves market has been segmented into alloy-based, brass, bronze, cryogenic, cast iron, steel, and others.
Size-based segmentation reveals 1″–6″, up to 1″, 25″–50″, 6″–25″, 50″ and above, and others.
Based on end-users, the ball valves market comprises chemicals, food & beverage, building & construction, pharmaceuticals, aerospace & defence, oil & gas, energy & power, water & wastewater, utilities, and others.
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Broad area segmentation includes Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW), among others.
Presently, North America controls the consumer economy. Supported by strict regulations governing wastewater management, the segment is experiencing substantial industry-wide penetration and is gaining considerable revenue in the process.
Europe is also following the same suit as the area has a strict environmental protocol which further encourages the use of ball valves.
The APAC is set to experience high revenue generation, with many power plants boosting ball valve demand. The developed electronics industry in Asia-Pacific and the implementation of emerging technologies have provided the regional organizations with a competitive lead in the market. Growing urbanization and rapid industrialization in emerging economies like China and South Korea are driving the region ‘s demand for the ball valve industry. In Asia-Pacific, investments in energy infrastructure are booming with the increasing demand for electricity due to the growing population, and the government is pushing for better product quality and power efficiency, which are also driving industry growth. Also, the chemical companies are investing in expanding their facilities in the Asia-Pacific region due to low-cost labour, which in turn boosts the ball valve market’s growth prospects.
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