세계의 볼 밸브 시장 규모 : 유형별, 사이즈별, 용도별, 지역 범위별, 예측

Ball Valves Market Size And Forecast

Ball Valves Market size was valued at USD 12.25 Billion in 2024 and is projected to reach USD 15.28 Billion by 2031, growing at a CAGR of 2.80% from 2024 to 2031.

Ball valves are mechanical devices that regulate the flow of fluids in pipelines. They have a spherical closure unit that spins within a casing to control the flow. This market serves a diverse range of sectors, including oil and gas, water and wastewater treatment, chemical processing, pharmaceuticals, and many more that require precision fluid management. Industrialization, infrastructure expansion, and the necessity for effective fluid-handling solutions in a variety of industries all contribute to the demand for ball valves.

These are used extensively in offshore oil and gas activities. They work in drilling rigs, pipelines, refineries, and petrochemical factories to regulate the flow of crude oil, natural gas, and other fluids.

Furthermore, ball valves are used in water treatment plants to regulate the flow of water and chemicals in a variety of procedures. In the chemical industry, they are crucial in controlling the flow of caustic and hazardous chemicals. HVAC systems, power generation facilities, and municipal infrastructure all use ball valves for fluid control.

Global Ball Valves Market Dynamics

The key market dynamics that are shaping the ball valves market include:

Key Market Drivers:

Growth in Oil and Gas Industry Infrastructure: The increase in oil and gas exploration and production operations is a key driver of the ball valves market. According to the United States Energy Information Administration (EIA), worldwide oil output is expected to rise from 100.1 million barrels per day in 2023 to 103.5 million barrels per day in 2024. The International Energy Agency (IEA) predicts that global gas demand will increase by 2.5% per year between 2022 and 2025. This rise in the oil and gas sector needs a greater use of ball valves in pipelines, refineries, and processing plants, which drives market growth.

Increasing Investments in Water and Wastewater Treatment: Rising concerns about water scarcity and rigorous environmental rules are driving investments in water and wastewater treatment infrastructure, resulting in increased demand for ball valves. The World Bank predicts that global investments in water supply and sanitation will total USD 114 Billion per year between 2021 and 2030. The Environmental Protection Agency (EPA) forecasts that the United States will need USD 472.6 Billion over the next 20 years to maintain and upgrade its drinking water infrastructure. This enormous investment in water infrastructure is likely to drive up demand for ball valves in water treatment and distribution systems.

Rapid Industrialization in Emerging Economies: The increasing industrialization in emerging economies, particularly Asia and Africa, is driving up demand for ball valves in a variety of industries. According to the United Nations Industrial Development Organization (UNIDO), the worldwide manufacturing value added (MVA) increased by 3.6% in 2021, with developing and emerging industrial economies expanding by 4.9%. According to China's National Bureau of Statistics, industrial production climbed by 3.6% year on year in 2022. This industrial growth is pushing the usage of ball valves in manufacturing processes, power generation, and chemical sectors, which contribute considerably to market expansion.

Key Challenges:

Competition from Substitute Technologies: Alternative technologies such as gate valves, butterfly valves, and globe valves compete with ball valves on the market. These replacements provide equivalent functionality in certain applications, providing a challenge to the market growth of ball valves.

Price Volatility of Raw Materials: Price fluctuations in raw materials such as stainless steel, brass, and copper have an impact on ball valve production costs. Manufacturers find it difficult to maintain competitive pricing in the face of variable raw material costs, compromising market stability.

Quality Assurance and Product Safety: Ensuring the quality and safety of ball valves is essential, especially in sensitive industries like oil and gas, chemical processing, and nuclear energy generation. Maintaining stringent quality assurance systems, as well as adhering to industry norms and certifications, presents problems for manufacturers.

Key Trends:

Rise of Industrial Internet of Things (IIoT) in Valve Monitoring: The widespread adoption of IIoT technologies is changing valve monitoring and maintenance practices. IIoT-enabled ball valves allow for real-time data gathering, analysis, and adjustment of valve performance. Integration with IIoT platforms and predictive analytics tools allows for proactive maintenance, predictive failure diagnosis, and valve operation optimization, all of which improve fluid control system efficiency and dependability.

Focus on Sustainability and Environmental Performance: When selecting valve technology, sustainability and environmental factors are increasingly crucial. Manufacturers are designing eco-friendly ball valves with lower environmental effects, such as low-emission designs and more recyclable materials. Additionally, the use of energy-efficient valve actuators and control systems helps to achieve sustainability goals while improving operating efficiency.

Growth of Modular and Customized Valve Solutions: Modular and bespoke valve systems are becoming increasingly popular, tailored to individual applications and industrial requirements. Manufacturers now provide modular valve designs that are simple to configure, scalable, and integrate with current systems. Specialized materials, coatings, and valve designs can be customized to meet specific operating circumstances and performance requirements.

Expansion of Ball Valve Applications in Renewable Energy: As renewable energy sources such as solar, wind, and hydroelectric power become more popular, ball valve applications in renewable energy projects are growing. Ball valves are used in fluid control systems for solar thermal plants, hydroelectric dams, and biomass facilities, assisting in the transition to clean and sustainable energy sources.

Global Ball Valves Market Regional Analysis

Here is a more detailed regional analysis of the ball valves market:

Asia Pacific:

The Asia-Pacific region is estimated to dominate the ball valve market during the forecast period. The Asia Pacific region is rapidly industrializing, particularly in China and India, resulting in increased demand for ball valves in a variety of industries. According to the Asian Development Bank (ADB), despite global economic concerns, developing Asia's industrial production is expected to increase by 4.8% in 2023 and 5.0% in 2024. China, the region's largest economy, increased industrial production by 3.6% year on year in 2022, according to the National Bureau of Statistics of China. This industrial expansion fuels the adoption of ball valves in manufacturing processes, greatly contributing to market growth in the region.

Furthermore, the Asia Pacific region has experienced a significant increase in oil and gas exploration and production activities, necessitating the widespread usage of ball valves. The International Energy Agency (IEA) predicts that Asia accounted for more than half of global oil demand growth between 2019 and 2025, with China and India leading the way. According to the BP Statistical Review of World Energy 2021, Asia Pacific's proportion of world natural gas consumption grew from 21.5% in 2010 to 22.8% by 2020. This expansion in the oil and gas industry is creating a major demand for ball valves in pipelines, refineries, and processing plants around the region.

Europe:

Europe region is estimated to exhibit substantial growth within the market during the forecast period. Europe is experiencing a surge in renewable energy projects, which is increasing demand for ball valves in power generation and distribution systems. According to the European Commission, the EU intends to boost the proportion of renewable energy in its energy mix to at least 32% by 2030. According to Eurostat, renewable energy sources accounted for 22.1% of total EU energy consumption in 2020, up from 9.6% in 2004. Wind Europe reports that Europe installed 17.4 GW of new wind capacity in 2021, with plans to add 105 GW between 2022 and 2026. The increasing expansion of renewable energy infrastructure is generating significant growth in the ball valves market throughout Europe.

Furthermore, despite the push for renewable energy, Europe is also updating its old oil and gas infrastructure, which will increase demand for improved ball valves. The European Network of Transmission System Operators for Gas (ENTSOG) reports that €50 billion in gas infrastructure developments are planned for Europe between 2020 and 2029. According to the International Association of Oil and Gas Producers, European oil and gas businesses invested €70.8 billion in 2020, with a large amount going into infrastructure investments. This continuous modernization initiative is accelerating the use of high-performance ball valves in the region's oil and gas industry.

Global Ball Valves Market: Segmentation Analysis

The Ball Valves Market is Segmented based on Type, Size, Application, and Geography.

Ball Valves Market, By Type

Oil and Gas Pipes

Agricultural and Irrigation Pipes

Water Supply Pipes

Sewage Systems

Based on Type, the market is bifurcated into Oil & Gas Pipes, Agricultural & Irrigation Pipes, Water Supply Pipes, and Sewage Systems. The water supply pipe segment is estimated to dominate the ball valve market during the forecast period. This is due to the global focus on clean water infrastructure, which necessitates the use of dependable flow control valves. Sewage Systems is most likely the fastest-growing segment. With growing populations and urbanization, wastewater treatment demands are increasing, necessitating the use of valves designed to withstand severe environments.

Ball Valves Market, By Size

Up To 1"

1" to 6"

6" to 25"

25" to 50"

50" and Above

Based on Size, the market is segmented into Up To 1", 1" to 6", 6" to 25",25" to 50", 50" and Above. In the ball valve market, the 1" to 6" size segment is currently leading. This is due to its widespread application in industries including power production, water treatment, and construction, all of which require accurate flow control for tiny pipelines. However, the 6" to 25" size range is expected to be the fastest-growing area. This expansion is being driven by causes such as increased oil and gas exploration and investment in infrastructure projects that demand larger diameter valves for effective fluid management.

Ball Valves Market, By Application

Oil & Gas

Water & Wastewater

Chemicals

Energy & Power

Building and Construction

Others

Based on Application, the market is segmented into Oil & Gas, Water & Wastewater, Chemicals, Energy & Power, Building and Construction, and Others. The oil and gas industry currently leads the ball valve market. It is an important consumer since it relies on strong and dependable valves for high-pressure settings in pipelines and refineries. Water and wastewater treatment are predicted to be the fastest-increasing segment. The growing urbanization and stricter environmental rules are driving investments in water infrastructure, increasing in demand for valves that control flow in water treatment plants and distribution networks.

Ball Valves Market, By Geography

North America

Europe

Asia Pacific

Rest of the World

Based on Geography, the Ball Valves Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is estimated to dominate the ball valve market during the forecast period. This rise is driven by fast industrialization, expanding infrastructural development, and a growing focus on water purification in the region.

Key Players

• The "Ball Valves Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are Emerson, Flowserve Corporation, Cameron-Schlumberger Ltd., Crane Co., IMI PLC, Kitz Corporation, Metso, Neway Valves Co. Ltd., Velan, Inc., Weir Group PLC, Burkert Fluid Control Systems, Curtiss-Wright Corporation, Alfa Laval, Apollo Valves and Valvitalia S.P.A.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

• Ball Valves Market Recent Developments
• In August 2023, KITZ Corporation announced plans to consolidate manufacturing and sales sites in Korea to optimize their valve manufacturing business. This strategic move aims to improve sales support for Korean customers while also strengthening the dependable global product supply chain by relocating a portion of KITZ's manufacturing activities to Korea.
• In March 2023, Flowserve Corporation launched the Worcester(R) 51/52 Series Reduced Port Flanged Ball Valves. The company is a global leader in flow control. These quarter-turn valves, designed for a variety of sectors, have standardized designs, materials, and certifications, ensuring global availability.
• In November 2022, KITZ launched a new extension bonnet ball valve to complement the low-temperature ball valve series.
• In November 2022, As part of its localization strategy, IMI Saudi Industry LLC, a subsidiary of IMI Critical Engineering, opened a new 5,000-square-meter facility in Dammam to supply novel valve technology and strengthen local manufacturing skills.

TABLE OF CONTENTS

1. Introduction

• 1.1 market definition
• 1.2 market segmentation
• 1.3 RESEARCH TIMELINES
• 1.4 ASSUMPTIONS
• 1.5 limitations

2. Research Methodology

• 2.1 Data Mining.
• 2.2 Secondary Research
• 2.3 Primary Research
• 2.4 Subject Matter Expert Advice
• 2.5 Quality Check
• 2.6 Final Review
• 2.7 Data TRIANGULATION.
• 2.8 BOTTOM-UP APPROACH
• 2.9 TOP DOWN APPROACH
• 2.10 RESEARCH FLOW
• 2.11 DATA SOURCES
• 2.12 PRIMARY INTERVIEWs
  • 2.12.1 PRIMARY INTERVIEW breakdown
  • 2.12.2 PRIMARY INTERVIEWs TRANSCRIPTS

3 Executive Summary

• 3.1 MARKET OVERVIEW
• 3.2 GLOBAL BALL VALVES MARKET GEOGRAPHICAL ANALYSIS
• 3.3 GLOBAL BALL VALVES MARKET, by Type (usd million)
• 3.4 GLOBAL BALL VALVES MARKET, by Application (usd million)
• 3.5 GLOBAL MARKET SPLIT

4 MARKET OUTLOOK

• 4.1 global ball valves MARKET OUTLOOK
• 4.2 Market Drivers
  • 4.2.1 increasing APPLICATIONS OF BALL VALVE IN OIL AND GAS INDUSTRY. 26
  • 4.2.2 MODERNIZATION OF PROCESS PLANTS. 27
• 4.3 Market Restraints
  • 4.3.1 INCREASING RAW MATERIAL COST. 28
• 4.4 Market opportunities
  • 4.4.1 GROWING SCOPE IN AEROSPACE INDUSTRY. 29
• 4.5 Market challenges
  • 4.5.1 INCREASED COMPETITIVE PRESSURE FROM LOWER-END MANUFACTURERS. 30

5 industry trends

• 5.1 value chain analysis
• 5.2 porter's five forces analysis

6 MARKET, BY type

• 6.1 Overview
• 6.2 Trunnion Mounted
• 6.3 Floating
• 6.4 Rising Stem

7 MARKET, BY Size

• 7.1 Overview
• 7.2 Up to 1"
• 7.3 1"-6"
• 7.4 6"-25"
• 7.5 25"-50".
• 7.6 50" and Above

8 MARKET, BY Application

• 8.1 Overview
• 8.2 Oil & Gas
• 8.3 Water & Wastewater
• 8.4 Chemicals
• 8.5 Energy & Power
• 8.6 Building & Construction
• 8.7 others

9 MARKET, BY GEOGRAPHY

• 9.1 Overview
• 9.2 NORTH AMERICA
• 9.3 Europe
• 9.4 ASIA PACIFIC
• 9.5 LATIN AMERICA
• 9.6 REST OF THE WORLD

10. competitive landscape

• 10.1 overview
• 10.2 Competitive Situations and Trends
• 10.3 COMPANY Market Ranking Analysis

11. Company Profiles

• 11.1 emerson
  • 11.1.1 Company overview
  • 11.1.2 emerson: Key Facts. 61
  • 11.1.3 Financial Performance. 62
  • 11.1.4 product Benchmarking
  • 11.1.5 swot analysis: emerson
• 11.2 Flowserve Corporation
  • 11.2.1 Company overview
  • 11.2.2 Flowserve Corporation: Key Facts. 64
  • 11.2.3 Financial Performance. 65
  • 11.2.4 product Benchmarking
  • 11.2.5 swot analysis: Flowserve Corporation
• 11.3 Crane Co. 67
  • 11.3.1 Company overview
  • 11.3.2 Crane Co.: Key Facts. 68
  • 11.3.3 Financial Performance. 68
  • 11.3.4 Product Benchmarking
  • 11.3.5 swot analysis: crane co. 69
• 11.4 Cameron-Schlumberger Ltd. 70
  • 11.4.1 Company overview
  • 11.4.2 Cameron-Schlumberger Ltd.: Key Facts. 71
  • 11.4.3 Financial Performance. 71
  • 11.4.4 Product Benchmarking
• 11.5 IMI PLC. 73
  • 11.5.1 Company overview
  • 11.5.2 IMI PLC.: Key Facts. 74
  • 11.5.3 Financial Performance. 74
  • 11.5.4 Product Benchmarking
• 11.6 Kitz Corporation
  • 11.6.1 Company overview
  • 11.6.2 Kitz Corporation: Key Facts. 76
  • 11.6.3 Financial Performance. 76
  • 11.6.4 Product Benchmarking
• 11.7 Metso
  • 11.7.1 Company overview
  • 11.7.2 Metso: Key Facts. 78
  • 11.7.3 Financial Performance. 78
  • 11.7.4 Product Benchmarking
• 11.8 Neway Valves Co. Ltd. 80
  • 11.8.1 Company overview
  • 11.8.2 Neway Valves Co. Ltd.: Key Facts. 80
  • 11.8.3 Financial Performance. 81
  • 11.8.4 Product Benchmarking
• 11.9 Velan Inc. 82
  • 11.9.1 Company overview
  • 11.9.2 Velan Inc. : Key Facts. 82
  • 11.9.3 Financial Performance. 83
  • 11.9.4 Product Benchmarking
• 11.10 Weir Group PLC
  • 11.10.1 Company overview
  • 11.10.2 Weir Group PLC: Key Facts. 84
  • 11.10.3 Financial Performance. 85
  • 11.10.4 Product Benchmarking
• 11.11 Burkert Fluid Control Systems
  • 11.11.1 Company overview
  • 11.11.2 Burkert Fluid Control Systems: Key Facts. 86
  • 11.11.3 Product Benchmarking
• 11.12 Curtiss-Wright Corporation
  • 11.12.1 Company overview
  • 11.12.2 Curtiss-Wright Corporation: Key Facts. 88
  • 11.12.3 Financial Performance. 89
  • 11.12.4 Product Benchmarking
• 11.13 Alfa Laval. 90
  • 11.13.1 Company overview
  • 11.13.2 Alfa Laval: Key Facts. 90
  • 11.13.3 Financial Performance. 91
  • 11.13.4 Product Benchmarking
• 11.14 Apollo Valves
  • 11.14.1 Company overview
  • 11.14.2 Apollo Valves: Key Facts. 92
  • 11.14.3 Product Benchmarking
• 11.15 Valvitalia S.P.A
  • 11.15.1 Company overview
  • 11.15.2 Valvitalia S.P.A: Key Facts. 94
  • 11.15.3 Product Benchmarking