According to the new research report from The Insight Partners entitled “Ball Valve Market – Global Analysis and Forecast to 2025”, the global ball valve market is forecast to reach 12.89 billion in the forecast period 2017-2025 in 2025.
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Ball valve growth relies heavily on the growth of industries such as oil & gas, chemicals, energy, mining, and refineries. Apart from these industries, the ball valves are used in ships, fire protection services, nuclear power generation, etc. Globally, the manufacturing industry is expected to continue growing as newer and innovative technologies penetrate these industries.
The oil and gas industry is the largest end-user segment in Europe. However, it is experiencing a sluggish growth rate. The availability of new sources of crude oil in the North America region, particularly in the USA, and the associated increase in refinery capacities have a negative impact on ball valve sales in Europe. 14 refineries have been closed in Europe since 2007, including most of them in France, where refining capacity has increased by 30% to 1.4 million margins since 2008. Closures are likely to come from Italy, where capacity has shrunk 10% over the past six years, compared to 15% in Germany and 22% in the UK. For the European market for ball valves, lucrative CAGR growth of 1.56% is expected in the forecast period.
The Indian ball valve market is expected to grow at a CAGR of 3.56% in the forecast period 2017-2025. India is one of the fastest developing nations in the world. This industrial development of the country is heavily influenced by the various government initiatives that promote the growth of the industrial sector in the country. Although the country’s economic development continues to be rough, the country’s industrial sector is growing significantly. Also, the country encompasses a huge fragment of a disorganized sector that uses ball valves for liquid and gas control purposes, which is another significant contributor to the market.
The world ball valve market has been divided into different types of ball valves, including rising stem ball valves, floating ball valves, and rotary ball valves. Each ball valve has a different application and is designed to meet the different needs of end users. Some of the key end-users in this market are Oil & Gas, Chemical, Pharmaceutical, and Power & Energy. The oil and gas industry is the largest consumer of ball valves and would continue their dominance over the forecast period.
Geographically, the market is currently dominated by developed regions such as North America and Europe, however, the market is expected to favor Asia-Pacific as the region is expected to experience tremendous industrialization in the coming years. The entire ball valve market is highly fragmented, with the top ten suppliers accounting for only 30% of the total market. Some of the major players with global market share include Emerson, Flowserve, Cameron, IMI PLC and Metso, among others.
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Reason to buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Ball Valve Market
- Highlights key business priorities to help companies realign their business strategies.
- The key findings and recommendations highlight the key advanced industry trends in the Ball Valve Market and enable players to develop effective long-term strategies.
- Develop / modify business expansion plans by leveraging significant growth opportunities in both developed and emerging markets.
- Examine in-depth global market trends and prospects related to the factors that are driving the market as well as those that are hindering it.
- Improve the decision-making process by understanding the strategies that underpin commercial interest around products, segmentation, and industry segments.
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