Ball Valve Market Size, Share & Trends Analysis Report By Material (Stainless Steel, Cast Iron, Cryogenic, Alloy Based), By Types (Trunnion Mounted Ball Valves, Floating Ball Valves, Rising Stem Ball Valves), By Size (Up To 1”, 1-6”, 6-25”, 25-50”, 50” and Larger), By End-User (Oil & Gas, Water & Wastewater Treatment, Energy & Power, Food & Beverages, Chemicals, Building & Construction, Pulp & Paper, Pharmaceuticals Metals & Mining, Agriculture) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global ball valve market size was valued at USD 12.18 billion in 2021. It is expected to reach USD 17.75 billion, growing at a CAGR of 4.28% during the forecast period (2022–2030).

The pressure and flow of suspended solids, slurries, liquids, or gases in pipelines can be controlled using a ball valve, a spherical closure device with a quarter-turn. The valve is typically constructed with cast iron, stainless steel, brass, bronze, titanium, and plastics, among other things. It naturally comes in full port, reduced port, cavity filler, and multiport variants and consists of a handle and a perforated, hollow, and pivoting ball. Additionally, these variants are typically available. It requires a bubble-tight seal, low-point drains, high-point vents, feed water, and cooling water systems.

Consequently, the ball valve is used extensively in various industries, such as the food and beverage industry, mining, the oil and gas industry, agriculture, the water, and wastewater treatment industry, and the building and construction industry. The valves find widespread application in the production of medical devices, as well as in the management of pressure relief in equipment and the sterilization of various materials. In addition to their use in oxygen therapy devices and blood analyzers, ball valves are frequently found in hospitals and other medical facilities.

Market Dynamics

Market Driving Factors

Growing Demand for Valves, Particularly in the Pharmaceutical and Healthcare Industries to Aid Growth

Industrial valves play an essential part in producing various medical devices. As a result, several key players in the industrial valve industry have been allowed to grow their businesses and contribute to the fight against the disease. For instance, the circumstance has proven advantageous for Emerson, a well-known player in the ball valve market. In sterilizers, the valves manufactured by Emerson can control the pressure relief and maintain a clean environment for the equipment and materials. In addition, they are utilized in oxygen therapy devices, which assist patients at high risk or in the process of recovering, and they provide support for blood analyzers and other essential hematology equipment.

The company's high-pressure and high-purity valves supply oxygen to pop-up hospitals, remote medical centers, and triage centers. These valves have a full-bore design that enables full fluid flow with minimal pressure drop. Because of this design, these valves are ideal for handling viscous liquids or liquids containing particles in the food and beverage, pharmaceutical, and chemical industries. As a result, the market for ball valves is helped by the rising production of medical equipment and the increasing amount of money invested in research and development within the pharmaceutical industry.

Recent Advancements in the Field of Pharmaceutical Manufacturing Automation to Drive Market

With the emergence of intelligent valves, organizations are increasing their investments in research and development related to the pharmaceutical industry's automation. In a similar vein, pharmaceutical companies are working to develop complex fluid handling systems, such as automatic sanitizer dispensers and liquid soap dispensers, which is, in turn, creating demand for ball valves. As a consequence, the increase in the production of medical equipment and the rise in the amount of money invested in research and development within the pharmaceutical industry are both factors that contribute to the development of the market for ball valves.

Market Restraining Factors

Inconsistent Norms and Policies Enforced by the Regulatory Body to Restrict Market Expansion

Various regional certifications and policies are considered when manufacturing ball valves. These certifications and procedures can differ from one application to another, as well as between industries and geographical locations. Ball valves have a variety of uses and can be found in various sectors, including oil and gas, food and beverages, pharmaceuticals, energy and power, water and wastewater, building and construction, chemicals, semiconductors, and paper and pulp. The heterogeneity of these industries is a factor that acts as a restraint, as it requires manufacturers of ball valves to modify the same product by the policies of individual regions. Additionally, it becomes difficult for players in the industry to achieve the ideal fabrication cost. To counteract this, industry players must establish manufacturing facilities in various regions, increasing the investment made by industry players. As a result, the expansion of the market for ball valves is hampered by the absence of single certification and policy that applies everywhere in the world.

Market Opportunities

Increasing Investments in Water and Wastewater Treatment Plants to Boost Market Opportunities

Managing sanitary concerns has necessitated the continuous operation of water utilities, as water and wastewater treatment is an essential service. It is now more important than ever to have access to clean water to maintain proper hygiene practices. As a result of the pandemic, people began to place a greater emphasis on maintaining clean water and sanitation. Consequently, investments in the construction of water treatment plants are anticipated to result in opportunities in the market for ball valves. In addition, the primary concern in several countries is the aging infrastructure of the water and wastewater treatment industries. For instance, the United States is home to a vast network of aging pipelines that transport water and wastewater. As a result of outliving their usefulness, the old infrastructure also contains several valves, some of which are ball valves, which are on the verge of being replaced. Therefore, it is essential to replace such valves to improve both performance and the safety of the workers. Thus, the growing concerns for improved sanitation and the increased investments in water supply and sanitation projects create significant opportunities for the companies that sell valves that have applications in the water and wastewater treatment industry.

Regional Analysis

The global ball valve market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

The United States of America, Canada, and Mexico make up the three distinct segments that make up the market in North America. Because many of the world's largest multinational corporations are headquartered in North America, the region is an important market for ball valves. Some of these multinational corporations include Emerson (US), Cameron-Schlumberger (US), Flowserve Corporation (US), and Crane Co. (US).

One of the most critical factors that are driving the market in North America is the rising demand for safety applications, as well as the increasing research and development activities that are taking place in the region about the growing use of actuators in valves for automation. Research and development at the industry level are expanding the use of ball valves in various industries, such as the energy and power industry and the chemical industry.

The Asia Pacific region has the most significant part of the world market for sphere valves. China, India, Japan, South Korea, and the rest of Asia-Pacific comprise the individual segments that include the Asia-Pacific market. The numerous initiatives by regional governments to encourage the implementation of IoT in the industrial sector in Asia-Pacific are primarily responsible for the growth of the market in Asia-Pacific, which can be principally attributed to the increase in Asia-Pacific.

The significant factors that are driving the development of the ball valve market in Asia-Pacific are the region's dense population, the presence of industries such as automotive, chemicals, pharmaceuticals, oil & gas, and metals & mining in the region, as well as rising incomes per capita and the region's rapid China, which is one of the most critical countries in the Asia-Pacific region, has emerged as the global production hub throughout the past few decades. This is because China is the source of most raw and processed materials, components, and significant subsystems that manufacturers use worldwide. Original equipment manufacturers (OEMs) in China aren't the only ones having trouble restarting their production processes; manufacturers worldwide are also having trouble due to a shortage of components and other essential raw materials in their supply networks.

Segmental Analysis

The market for industrial valves across the globe can be broken down into distinct submarkets based on the Material Type, Valve Type, and Application.

By Material Type

Cast iron, steel, alloy-based products, and other types make up some of the market's subgroups, depending on the material type.

By Valve Type

Depending on valve type, it is segregated into ball valves, butterfly valves, gate valves, globe valves, plug valves, check valves, and diaphragm valves.

By Applications

Based on the application, it can be subdivided into oil and power, water and wastewater, chemical, food and beverage, and other categories. The global ball valve market is segmented by type: Oil and Gas Pipes, Agricultural and Irrigation Pipes, Water Supply Pipes, Sewage Systems, and Others. It is anticipated that the Water Supply Pipes segment will grow at the fastest pace due to the expanding population base and the initiatives taken by the government to provide safe and consumable potable water to every home.

By Size

The size-based classification of the global ball valve market includes segments such as "up to 1", "1"-6", "6"-25", "25"-50", and "over 50".A wide range of sizes is available for ball valves, and the appropriate size for a given application depends on that range. Oil & Gas, Water & Wastewater, Chemicals, Energy & Power, Building & Construction, and Other Applications Make Up the Global Ball Valve Market. During the period being forecasted, it is anticipated that the Water and Wastewater segment will experience the highest CAGR growth. The expansion can be attributed to the rising demand for desalination and wastewater treatment plants. The growth of the Water & Wastewater segment is also being driven by initiatives taken by the government to provide safe and clean water for human consumption.

Recent Developments