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From 2019 to 2024, the ball valve market is expected to grow at a compound annual growth rate of 3.75%. By 2024, it will grow from US$12.6 billion in 2019 to US$15.2 billion.
Divided by size, the ball valve market is divided into the largest 1 inch, 1 inch to 6 inches, 6 inches to 25 inches, 25 inches to 50 inches, and 50 inches and larger markets. During the forecast period, the ball valve market based on 1″ to 6″ is expected to witness significant growth. This growth is attributed to the increasing demand for transportation and energy and power-based applications; as a result, the use of 1–6 inch valves in oil and gas, energy and power, water and wastewater treatment, chemical and other industries Has increased.
In this report, the ball valve market is divided into trunnion-mounted, floating and vertical-stem ball valves by valve type. Among them, it is expected that the installed trunnion will occupy the largest market share throughout the forecast period. The growth of energy consumption, new production technologies, the need for process safety, increasing attention to sustainability, and the promotion of environmental regulations have promoted the development of the trunnion ball valve market.
The report breaks down the ball valve market by material, valve type, size, industry and geographic location. The report also describes the main drivers, constraints, challenges and opportunities related to the market, as well as value chain and market ranking analysis.
Post time: Mar-12-2021
