The revenue of the ball valves market was USD 13,829.5 million in 2023, which will power at a rate of 6.5% by the end of this decade, touching USD 21,329.1 million by 2030.

This is because of the urbanization, industrialization, infra growth, and increasing requirement from industries for example oil & gas, chemicals, water & wastewater treatment, and pharmaceuticals. Further, the growing use of the 3D printing in valve manufacturing and digital transformation are trending in the industry.

On the basis of material, stainless steel led the industry with a share of 45%, in 2023. Due to its strength and greater resistance to rust, stainless steel is suitable for applications with gases and corrosive liquids.

This property is substantial for industries like oil & gas, chemical processing, and water treatment, where corrosion resistance is extremely important. They can bear extreme temperatures, high pressures, and harsh working conditions, therefore making them a preferred choice in demanding industrial surroundings.

On the basis of type, the trunnion-mounted category will grow at a rate of 8% by the end of this decade. These alternatives are considered by extra mechanical fortification to the ball at the top and the base to the valve body, which surges their stability.

This design is used for managing higher pressures and larger sizes in tough conditions, where drifting ball valves are not as effective. These valves are perfect for high-pressure uses in the power, oil & gas, and petrochem industries. Additionally, the trunnion-mounted design allows effective sealing, therefore plummeting the hazard of leaks under high-pressure.

On the basis of size, the 1–5 inches category will grow at the fastest rate of 10% by the end of this decade in the ball valves market. Valves of this size are extensively used in the treatment of water, chemical handling, oil & gas plants, air conditioning frameworks, and other uses.

The interest in these components is driven by the growing scale of these applications and their need for dependable control of gas and liquid streams in reasonable-sized pipelines and systems.

North America had the share of 25% in 2023, which was the second largest in terms of region. This is because of the continuing construction of smart cities, driving the use of cutting-edge ball valves which can be controlled remotely and connected to the internet. There are key players in this region, increasingly concentrating on R&D to advance the functionality and quality of their products.

It is because of the tech innovations happening all over the world, the demand for ball valves is on the rise. This trend will continue to grow in the years to come as well.

Source: P&S Intelligence