The ball valves market was valued at USD 8.1 billion in 2020 and is projected to reach USD 14.7 billion by 2025. It is expected to grow at a CAGR of 12.5% during the forecast period. Increasing demand for valves from healthcare and pharmaceuticals industries due to outbreak of COVID- 19 pandemic, need for replacement of outdated ball valves and adoption of smart valves, rising focus on industrialization, urbanization, and smart city development, and rise in new nuclear power plants projects and upgrade existing ones are the key driving factors for the ball valves market.
Emerson Electric Co. (US), Schlumberger (US), Flowserve Corporation (US), IMI plc (US), Valmet (Neles Corporation) (Finland), Spirax Sarco Limited (UK), Crane Co. (US), KITZ Corporation (Japan), Trillium Flow Technologies (US), Bray international (US), and Velan, Inc. (Canada) are the key players in the ball valves market. These top players have strong portfolios of products and services and presence in both mature and emerging markets.
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Emerson is a leading manufacturer and provider of engineering technology products and solutions, such as valves, transmitters, analyzers, regulators, and automation systems. The company offers various types of ball valves, such as floating, threaded, and severe services. trunnion, and cryogenic ball valves for several applications in industries such as automotive, chemicals, food & beverages, oil & gas, power generation, pulp & paper, and water & wastewater treatment. The company also provides maintenance, reliability, performance, and educational services. Product development is the key organic growth strategy adopted by the company. For instance, in October 2021, Emerson announced its first comprehensive valve assemblies that fulfill safety integrity level (SIL) 3 requirements. The company operates across the Americas, Asia Pacific, Europe, and the Middle East & Africa, and has approximately 170 manufacturing facilities, globally, of which 60 are in the US and the rest 110 outside the US as of September 2021
Schlumberger is a provider of technology and services to the global energy industry. The company operates through four business segments: Digital & Integration, Reservoir Performance, Production System, and Well Construction. The company offers ball valves and services under the Production System segment. One Subsea, Surface Systems, Drilling Systems, and Valves & Measurement are the product lines of ball valves.
The company’s focus on R&D remains strong with its technology center driving innovation within the rapidly evolving world of technology and automation. The company is aiming at implementing 3D printing for the manufacturing or prototyping of product development, specifically in the valve ecosystem. Advancements in automation technology for smart valves are the key strength of the company. Schlumberger’s system integration capabilities and domain knowledge are among the key factors behind customers choosing the company for high-value contracts, while global presence and strong functional expertise are the key growth drivers for the company. The company operates through its division and these division are present in five regions of the world such as in Americas Land, Offshore Atlantic, Middle East & North Africa, Asia, Russia & Central Asia.
Flowserve Corporation is one of the market leaders of manufacturer and aftermarket service provider of the comprehensive flow control system. The company designs, manufactures, distributes, and services industrial flow management equipment. The company operates through two business segments: Flow Serve Pump Division and Flow Control Division (FCD). FCD offers valves and automation solutions, including isolation and control valves, actuation, controls, and related equipment, and energy management products, such as steam traps, boiler controls, and condensate and energy recovery systems.
The company’s valve, automation, and control product portfolio represent one of the most comprehensive in the flow control industry. These products are used in various applications from general service to the most severe and demanding services in various industries such as oil and gas, chemical, power generation, water management, etc. The company operates 35 manufacturing facilities all over the world, of which ten are located in Europe, eleven in North America, eight in Asia Pacific, and six in South America.
Ball Valves Market by Type (Trunnion-mounted, Floating, Rising Stem), Material (Stainless Steel, Cast Iron, Alloy-based), Size, Industry (Oil & Gas, Energy & Power, Water & Wastewater) and Region - Global Forecast to 2027
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