This rise in market value can be attributed to the benefits associated with Process Plant Modernization. A ball valve is a form of quarter-turn valve which uses a hollow, perforated and pivoting ball (floating ball) to control flow through it. The ball valves are being used in the various sectors such as aerospace & defence, oil and gas industry and among them. The market of ball valve is growing because of various factors such as evolution of IOT and developments in automation ecosystem such as mergers & acquisitions, collaborations, increasing demand for industrialization in emerging economies, and demand for process safety. The Asia-pacific is the fastest growing in this market due to increasing development in these countries.
Ball Valves Market is expected to rise from its initial estimated value of USD 12.82 billion in 2018 to an estimated value of USD 16.75billion by 2026, registering a CAGR of 3.4% in the forecast period of 2019-2026. New Growth Forecast Report on Global Ball Valves Market By Material (Stainless Steel, Cast Iron, Alloy Based, Cryogenic, Others, (Brass, Bronze, Plastic)}, Valve Type(Trunnion Mounted ball valves, Floating Ball Valve, Rising Stem Ball Valve), Size (Up to 1”, 1” to 6”, 6” to 25”, 25” to 50”, 50” and Larger), Industry (Oil & Gas, Energy & Power, Chemicals, Water & Wastewater , Building & Construction, Pharmaceuticals, Agriculture, Metal & Mining, Paper & Pulp, Food & Beverages, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
What are the major market growth drivers?
1. High demand for modernized process plant is expected to act as a driver to the market growth
2. There is increase in energy consumption due to industrialization, urbanization, and smart city initiatives this is driver for the market.
Market Restraints:
1. Lack of standardization in certifications and policies robotics is expected to act as a restraint to the market growth.
Key Developments in the Market:
In December 2018, Emerson acquires Advanced Engineering Valves. Advanced Engineering Valves is a manufacturer of valve technology for LNG industry. By this acquisition Emerson has become biggest player in LNG industry.
In April 2017, Emerson Acquired Pentair Valves & Controls. By this acquisition Emerson growed globally in automation, chemical, power, refining, mining and oil and gas. Emerson is a global technology and engineering company providing solutions in industrial, commercial, and residential markets.
Competitive Analysis
Global ball valves market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of ball valves market for Global, Europe, North America, Asia Pacific and South America.
What Managed Ball Valves Market Research Offers:
Managed Ball Valves Industry gives assessments for the regional level analysis with Production, Sales, Consumption, Imports and Exports
Managed Ball Valves industry provides manufacturers with basic information, product category, sales revenue, price, and gross margin (2019-2019)
Managed Ball Valves market forecasts for a minimum of 7 years of all the mentioned segments
Supply chain trends mapping the latest technological advancements
Global Managed Ball Valves industry shares drivers, constraints, opportunities, threats, challenges, investment opportunities
Strategic for the new entrants in Managed Ball Valves market
Manufacturing process, suppliers, price, production and consumption analysis, mode of transport and cost analysis, industry chain analysis
Company profiling with detailed strategies, financials, and recent developments
Post time: Jun-15-2021