Ball Valves Market Size, Share, and Growth Analysis

Updated on : October 22, 2024

Ball Valves Market Size & Growth

Global ball valves market size is expected to grow from USD 13.6 billion in 2023 to USD 17.0 billion by 2028, growing at a CAGR of 4.6% between 2023 to 2028.

The expansion of the ball valves market has been driven by heightened industrialization, rising demands within the oil & gas sector, water treatment necessities, and the proliferation of global infrastructure projects. Advancements in technology and a commitment to optimizing fluid control systems have propelled this market's remarkable growth.

Ball Valves Market Forecast to 2028

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Ball Valves Market Trends and Dynamics:

Driver: Rising need for safety and enhancing product quality in industrial sector

Aging infrastructure in oil & gas and water & wastewater treatment industries is a primary concern in several countries. For instance, the US has a wide network of old pipelines that are used for transporting critical commodities, including natural gas, oil, water, and wastewater. Several types of valves, including ball valves, used in old infrastructure, have surpassed their operational life. Hence, the replacement of such old or outdated valves is imperative for improved performance and better worker safety. The need for the replacement or repair of old infrastructure is expected to create demand for new ball valves. End users are focusing on adopting highly reliable, integrated, and cutting-edge solutions to resolve the issue of maintenance. Ball valves have been in use in process industries for more than 40 years. These valves are prone to wear and tear at half of their age. Thus, old valves are being replaced with new customized valves that meet the requirements of material, size, and others for critical applications. The old infrastructure of the process industries is undergoing the replacement of valves.

The valve industry is employing advanced technologies in its offerings. Smart valves offer several benefits to end-user industries or operators of valves. For instance, when residential applications such as traditional taps are considered, turning on and off the valves can easily be done manually; however, it is very complex to operate hundreds of valves across a wide area of a utility network. Also, on a commercial scale, controlling the flow of water in a network requires personnel to release the water, thereby leading to additional costs and inefficient and non-accurate process handling. In contrast, smart valves give users complete control over the flow of a pipe network. Smart valves enable the operator to control the valve remotely, both from inside the building or from some other area. Smart valves will prove to be a great solution for utility companies, factories, housing estates, mining and irrigation systems, adding significant value to many industrial and residential use cases. Various valve manufacturers are investing in the research and development activities related to smart valves.

Restraint: High Cost of Raw Materials

The high cost of raw materials for manufacturing ball valves is influenced by factors like material selection, market conditions, energy costs, quality standards, environmental regulations, labor costs, transportation expenses, and customization requirements. Materials such as stainless steel, brass, and exotic alloys contribute to varying costs. Global supply and demand fluctuations, geopolitical events, and energy price changes affect raw material prices. Stringent quality standards and environmental regulations may increase costs. Labor and transportation expenses can vary by region. Customization and specialized requirements may also drive-up costs. Manufacturers must consider these factors and explore cost-saving measures to remain competitive.

Opportunity: Application of 3D printing technology in valve manufacturing

The adoption of 3D printing technology in R&D activities and production processes can help in the quick release of designs, fast response to customer inquiries, and accurate weight estimation and prototyping.

Fast prototyping is essential in product development and generally requires lots of testing and iterations. 3D printing is the ideal technology in such cases as manufacturers can quickly print prototypes and start with rigorous testing programs, as well as find a timely solution to the requirements. In some cases, the performance of 3D printed components exceeds the ones manufactured by traditional manufacturing methods. In December 2018, Metso developed the first valves with 3D printed parts from its Helsinki plant. 3D printed metal components allowed the valves to perform in a particularly demanding application where they needed to withstand numerous fast open-close cycles without maintenance. For some urgent customer requirements, the current selection of 3D-printed valves may present some limitations, but it also provides new opportunities when aiming at reliability, longer service life, and improved safety features of valves.

Challenge: Complexities associated with integration of different components of Ball valves systems and production lines at application sites 

Many manufacturers offering low-priced valves result in the slowdown of the ball valves market share. Various types of ball valve components are exported from China; as a result, Chinese manufacturers can achieve a cost advantage in the manufacturing of ball valves. This trend is creating the challenge of manufacturing low-priced ball valves. In addition, domestic manufacturers are posing a threat to multinational companies due to their strong local market foothold. Further, the manufacturing facilities of domestic valve suppliers are closer to the customers, which has resulted in reduced lead time-to-market. The reason for the adoption of domestic ball valves is their capability to perform a similar function at a lower cost. Therefore, the influence of domestic vendors and low-priced ball valves is a challenge for major industry players.

Ball valves Market Ecosystem

Ball Valves Market Segmentation

Stainless Steel Ball valves holds largest market share in year 2022

The worldwide expansion of stainless steel ball valves stems from their durability, corrosion resistance, and adaptability across industries such as oil & gas, chemicals, and water treatment. Their dependable performance has fueled increased demand, establishing them as vital components in various sectors on a global scale.

Trunnion-mounted segment to grow at highest CAGR in the forecast period 2023-2028.

Trunnion Mounted Ball Valves have experienced substantial growth due to their durable design, guaranteeing reliable performance in high-pressure applications across industries such as oil and gas, petrochemicals, and power generation. Their superior sealing and resilience enable efficient fluid control, reducing the risk of leaks in critical operations.

1”-5” segment to grow at highest CAGR in the forecast period 2023-2028.

The burgeoning demand for 1 to 5-inch ball valves stems from their versatile application across industries. Renowned for adept fluid flow control, reliable seals, and robust durability, these valves are favored in oil, gas, water treatment, and chemical sectors, driven by their compactness, high-pressure handling, and easy maintenance.

Pulp & Paper is expected to register highest CAGR during the forecast period

Ball valves play a crucial role in the Pulp & Paper sector, valued for their reliability and resilience in corrosive pulp processes. Their ability to endure harsh chemicals and high pressures, preventing leaks, is essential for uninterrupted pulp production. As the industry prioritizes efficiency and reduced downtime, ball valves are instrumental, fostering growth and innovation to meet evolving operational needs.

Ball Valves Market by Region

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Ball Valves Industry Regional Analysis

Asia Pacific to grow at highest CAGR during the forecast period

The Asia Pacific region has seen a substantial uptick in the uptake of ball valves due to their robustness, reliability, and operational efficiency across key sectors such as oil & gas, water treatment, and manufacturing. This heightened adoption is a direct result of escalating infrastructure development and urbanization trends in the region. Consequently, it has led to significant ball valves market expansion, fostering innovative advancements in valve technology within this geographic area.

Top Ball Valves Companies - Key Market Players

The Ball valves companies players have implemented various organic and inorganic growth strategies, such as product launches, collaborations, partnerships, and acquisitions, to strengthen their offerings in the ball valves market.

• Emerson Electric Co. (US),
• Flowserve Corporation (US),
• SLB (US),
• IMI (UK),
• Valmet (Finland),
• Crane Company (US),
• KITZ Corporation (Japan),
• Neway Valves Co. Ltd. (China),
• Spirax Sarco Limited (UK),
• Trillium Flow Technologies (US) and Others and Others are major players in the market.

The study includes an in-depth competitive analysis of these key players in the Ball valves industry with their company profiles, recent developments, and key market strategies.

Ball Valves Market Report Scope

Ball Valves Market Highlights

This report has segmented the Ball valves market share based on Materials, Type, Size and  Industry and Region.

Recent Developments in Ball Valves Industry:

• In August 2023, KITZ Corporation has revealed its plans to streamline its Valve Manufacturing Business in Korea by consolidating manufacturing and sales facilities. This strategic move is geared towards improving sales support for Korean customers and fortifying the dependable global product supply chain by shifting a portion of KITZ's product manufacturing operations to Korea.
• In March 2023, Flowserve Corporation, a leading global provider of flow control products and services, introduced the Worcester® 51/52 Series Reduced Port Flanged Ball Valves. These quarter-turn valves, designed for various industries, offer standardized design, materials, and certifications for global availability.
• In November 2022, KITZ has released a new extension bonnet ball valve to enhance the low temperature ball valve series..

Frequently Asked Questions (FAQs) Addressed by the Report:

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