Ball Valves Market To Generate Revenue worth $21,329.1 Million by 2030

The ball valves market revenue is expected to witness a CAGR of 6.5% during 2024–2030, reaching USD 21,329.1 million by 2030. It will be due to the growing degree of industrialization and urbanization and the rising demand for these components from various industries, including oil & gas, chemicals, pharmaceuticals, and water & wastewater treatment. Moreover, the 3D printing technology is being used to manufacture these valves, and they are being integrated with IoT sensors amidst the smart factory revolution.

Industrialization and Urbanization Drive Market Expansion

Industrial infrastructure has improved as a result of urbanization and population growth, allowing cities to respond quickly and precisely to energy, transportation, medical care, education, and natural disasters. Cities are incorporating creative dynamism into municipal operations, from transportation to infrastructure repair. This focus on industrial expansion in various industries, such as water & wastewater treatment, chemicals, oil & gas, and energy & power, is expected to benefit the ball valves market.

The U.S. has a wide network of old pipelines moving oil, water, natural gas, and wastewater. Ball valves that have reached the end of their life in such old infrastructure are being replaced to enhance commodity flow within the pipes and worker safety.

In addition, end users are concentrating on reducing their spending on maintenance and making the process easier and swifter. For many years, ball valves have been utilized in process businesses. Since adhering to safety regulations is indispensable for businesses working with unsafe materials, ball valves are designed to prevent leaks and other mishaps, thereby enhancing operational safety.

Demand for Alloy Variants Is Rapidly Growing

Based on material, the alloy is projected to have a CAGR of 9% from 2024 to 2030. These valves offer superior durability, strength, and resistance to corrosion, which are suitable for demanding applications in the oil & gas, petrochemicals, and chemicals industries. Additionally, these valves have the capacity to withstand harsh working circumstances, including high pressures.

Additionally, manufacturers offer an extensive variety of alloy choices to suit specific applications. The capacity to alter the alloy compositions and valve designs to meet different industry needs improves their presence in the market. Businesses are progressively focusing on enhancing the effectiveness and dependability in their activities. Due to their robustness and long-term performance, they fit well with critical process industries’ demand for high performance.

Energy & Power Category Holds Largest Market Share

Based on industry, the energy & power category held the largest market share, of 25%, in 2023. Ball valves are utilized in the energy & power industry to guarantee security in fundamental applications. Ball valves have common usage in gas-fueled power plants to regulate the flow of natural gas in pipelines. These components are used to control the supply of fuel to gas turbines to ensure efficient power generation and combustion, thus maintaining operational productivity and safety. It is important to choose the product by giving attention to pressure ratings, dependability, and material compatibility.

Some of the major market players are Emerson Electric Co., Flowserve Corporation, KITZ Corporation, Trillium Flow Technologies, SLB, International Management Institute, Valmet, Crane Company, Spirax Sarco Limited, Bray International, and Velan Inc.