Food Processing Industry Segment is Expected to Dominate the Global Ball Valves Market
Increasing
demand for ball valves in new and upgrades of existing of nuclear power plant
are the factors propelling the market growth.
According
to TechSci Research report, “Global Ball Valves Market - Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”. Global Ball
Valves is anticipated to project robust growth in the forecast period with a
CAGR of 2.87% through 2028. Valves play a vital role in increasingly complex
industrial environments. Pipelines are necessary for every industry that deals
with fluid, whether they are in crude oil or natural gas production. Nearly all
industry verticals, like medicine, food processing, water treatment, engines,
machinery, plant engineering, or the conveyance of gas, fluids, and
free-flowing solids, there is extensive usage of pipes and valves.
Such
elaborative application for transportation of fluid has made pipelines highly
acceptable solutions. Valves also bring flow control in pipeline applications.
The ball valve is a quarter-turn valve suitable for clean gas-compressed air
and liquid service in industrial applications due to its tight shutoff. They
can also be used for slurry service, but provisions for preventing crud buildup
arere needed.
Pipeline
ball valves can be complemented with various types of anti-cavitation and
noise-protection trims to stage the pressure drops and prevent cavitation. This
allows the valve to not take the entire pressure drop at once.
Ball
valves are generally used in large bore sizes where smaller dimensions of other
kinds of valves such as butterfly valve result in stem sizes that are generally
smaller and weaker. In applications where space limitation and structural load
are the most significant concerns, such as in offshore drilling platforms and
Floating production storage and offloading (FPSOs), ball valves are not
preferred by the users. The triple offset butterfly valve is preferred due to
its applicability in offshore platform installations.
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Global Ball Valves Market.”
Based
on End-user Industry, Food Processing Industry is expected to hold the largest
share of Ball Valves market for during the forecast period, The food processing
industry is one of the major applications for ball valves, as operations like
product fillings need to maintain a regulated flow throughout the process.
The
balls valves in the industry include both valves that come directly in contact
with the material, and those are used in utility services, like water and
steam. In both cases, valves need to be designed to meet several industry
regulations, especially the ones in direct contact with the food material. This
poses significant challenges for manufacturers to gain regulatory approvals.
Among
all the types of materials, stainless steel is gaining importance since they
are more corrosion resistant. Because valves are meant to open and close,
corrosion can cause a big issues. These kinds of valves are observed to hold up
much better to harsher water types, which can be beneficial in food processing
plants.
They
also has a higher pressure rating than other types of materials such as brass.
For instance, a standard brass ball valve might have a Pressure rating of 600
PSI on a 1-inch model. A standard Stainless Ball Valve would probably have
pressure rating of 1000 PSI on 1-inch model.
Based
on Region, North America will dominate the market, The Department of the
Interior (DoI) of the United States estimates that this program could discover
approximately 98% of the technically recoverable oil and gas resources in
federal offshore areas to be available for exploration and development by 2020.
Besides,
the country has also unveiled a new Draft Proposed Program (DPP), which
includes 47 potential lease sales in 25 of the 26 planning areas, indicating
high exploratory activity in the region over the forecast period.
The
United States is home to iconic hydropower projects. The Grand Coulee Dam,
built across the Columbia River in Washington, is one of the best hydropower
projects, which generates about two-thirds of the state's electricity
requirement. In April 2019, the US Department of Energy (DOE) announced funding
of up to USD 26.1 million to advance the marine and hydrokinetics (MHK)
industry and increase hydropower’s ability for serving as a flexible grid
resource as a part of innovation drive for industry-led technology solutions.
In
July 2019, GE Renewable Energy signed an agreement with the US government for
two hydropower contracts. One of these contracts is for the Northfield Mountain
pumped hydro storage station, and the other is for the PG&E’s Caribou One
hydropower station. Such initiative would lead to the market demand.
Similar
to the United States, Canada also has a vast potential for control valves from
the oil and gas industry. The recent approval of the CAD 40 billion LNG
Canadian project has marked the first upturn in oil and gas projects in the
country after the recent low crude oil price situation.
Key market
players in the Global Ball Valves Market are following: -
- ALFA LAVAL
- CIRCOR International Inc.
- Crane Co.
- Castel SRL
- Sanhua USA
- Curtiss-Wright Corporation
- Danfoss A/S
- Emerson Electric Co
- Georg Fischer Ltd
- Flowserve Corporation
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“The
global ball valve market is driven by several key factors that shape its growth
and evolution. First and foremost, the increasing demand for energy, especially
in the oil and gas, power generation, and renewable energy sectors, fuels the
need for ball valves. These valves are essential for regulating the flow of
fluids in energy production and distribution. Industrial automation and process
control are another significant driver, as industries seek precise and reliable
flow control solutions to enhance operational efficiency. The replacement and
upgrading of aging infrastructure, driven by the need for more efficient and
modern systems, further contributes to market growth. Moreover, stringent
environmental regulations and safety standards necessitate advanced valve
technologies, including ball valves, which play a crucial role in preventing
leaks and emissions. The growing chemical and petrochemical industry,
advancements in valve technology, and global economic conditions also impact
the market's expansion. Finally, digitalization and IIoT integration, along
with sustainability concerns, lead to the development and adoption of smart and
eco-friendly ball valve solutions, ensuring the market's continued relevance
and growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
Ball
Valves Market – Global Industry Size, Share, Trends, Opportunity, and Forecast
Segmented by Material (Cast Iron, Steel, Alloy-based), End-User Industry (Oil
and Gas, Chemicals, Water and Wastewater, Power, Food and Beverage,
Pharmaceutical), By Region, By Competition 2018-2028 has evaluated the future growth
potential of Global Ball Valves Market and provides statistics and information
on market structure, size, share, and future growth. The report is intended to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities
present in the Global Ball Valves Market.
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