New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Ball Valves Market Size, Share & Industry Trends Analysis Report By Size, By Material, By Type, By Industry, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06321865/?utm_source=GNW
Although formally referred to as valve fittings, valves are typically considered in the context of their category. Fluid flows from higher to lower pressure when a valve is open.
The word is derived from the Latin word "valva," the moving component of a door, which itself is derived from the verb volvere, to turn or roll. Valves have a wide range of applications, including regulating fluid flow for irrigation, industrial processes, process control, and household usage including on/off and pressure control for dishwashers, laundry washers, and faucets. Aerosols also have a little valve built in. Valves are employed in the transportation and defense industries.
A type of quarter-turn valve called a "ball valve" contains a hollow, perforated, and pivoting ball to control the flow of fluid through it. When the ball’s hole is in line with the flow, the valve is open; when the hole is turned 90 degrees by the valve handle, the valve is closed. Additionally, the handle is flat in alignment when it is open and perpendicular when it is closed.
Ball valves have a long lifespan, are dependable, close securely, or continue to function properly even after extended periods of inactivity. Ball valves are created with all of these characteristics accessible for a variety of uses. The handle of the valve rests flat in line with the flow while it is open and perpendicular to it when it is closed, making it simple to visually confirm the status of the valve.
Either clockwise or counterclockwise movement is possible for the 1/4 turn in the closed position. Ball valves are dependable and continue to function properly even after many cycles and extended idleness. Despite lacking the fine control of other alternatives for throttling applications, they are typically preferred to gates and globe valves for shutdown and control applications.
COVID-19 Impact Analysis
Due to the relatively advanced manufacturing technology of Ball Valves, the market for these products is not highly concentrated. Additionally, some companies, such as LandT Valves, Kirloskar Brothers, Emerson, and others, are well known for the excellent performance of their Ball and Butterfly Valves. Ball and butterfly valve consumption is influenced by downstream industries and the Indian economy. The growth rate of the Ball Valves business may not continue to be as rapid in the next years due to the economy of India always being somewhat unstable. However, it is predicted that there is still room for growth in the market for ball valves.
Market Growth Factors
The Rapid Development Of Smart Cities, Urbanization, And Industry
Industrial infrastructure is expanding significantly as a result of urbanization and population growth. Several cities can respond quickly and accurately to issues in the areas of energy, transportation, healthcare, education, as well as to natural disasters while also strengthening their communities’ inclusivity, resilience, and sustainability with the integration of the appropriate technologies and the know-how to manage them. Cities are starting to integrate technological dynamism into municipal operations and will do so going forward, including transportation and infrastructure repair.
Technological Advancement In The Ball Valve
Valves are essential parts of a variety of industrial machinery. Incorrect valve operation may cause plant operations to be interrupted. Unplanned downtime occurs when conventional schedule-based maintenance techniques are unable to warn manufacturing organizations about probable valve failures. However, recent advancements in communications, data science, and computing power have made it possible for businesses to use Industrial Internet of Things (IIoT) technology to cut down on unscheduled downtime caused by valve failure.
Market Restraining Factors
There Are No Standards Or Governing Laws
Depending on the region, different laws and regulations apply to ball valve manufacturers. Depending on the sectors and uses, standardization may vary. Numerous industries, such as energy & electricity, oil & gas, building & construction, and semiconductor, which have specific standard requirements, use ball valves. The obligation for producers to follow these various standards results in higher manufacturing costs, which limits market expansion.
Based on the Material, the Ball Valves Market is divided into Steel, Cast Iron, Cryogenic, Alloy Based, and Others. The cast iron segment witnessed a significant revenue share in the ball valves market in 2021. It is because Cast iron, commonly referred to as grey iron, is a metal that has been utilized for many centuries. It is an alloy with a composition of 96%–98% iron, 2%–4% carbon, and trace amounts of silicone.
Based on Type, the Ball Valves Market is segmented into Trunnion-mounted, Floating, and others. The trunnion-mounted segment garnered the largest revenue share in the ball valves market in 2021. By absorbing the thrust from the line pressure, the trunnion-mounted stem reduces friction between the ball and seats. Thus, even at maximum pressure, the operation torque is still minimal.
By Size, the Ball Valves Market is bifurcated into <1”, 1” ?5”, 6”–24”, 25”–50”, >50. The >50 segment registered a promising revenue share in the ball valves market in 2021. It is because massive industries such as oil & gas require large ball valves for better safety and security. Ball valves are made to regulate the flow of high-pressure gases and liquids with the least amount of pressure loss. They have a tight seal with little torque and are quick to open and close.
Based on the Industry, the Ball Valves Market is classified into Oil & Gas, Energy & Power, Water & Wastewater Treatment, Chemicals & Pharmaceuticals, Building & Construction, Agriculture, Metals & Mining, Pulp & Paper, and Others. The energy & power segment registered a substantial revenue share in the ball valves market in 2021. It is because ball valves are used by the energy and power sector to provide safety in crucial applications. The majority of the world’s primary electricity is produced by coal, which accounts for 37% of total energy production.
Region-wise, the Ball Valves Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region procured the highest revenue share in the ball valves market in 2021. It is because China has a strong industrial base. The main industries in this nation include process industries like chemical manufacture, petroleum refining, and public utilities like electric power generating. Control valves are used in these industries to perform complete control and monitoring.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., Schlumberger N.V., Flowserve Corporation, Crane Co., Kitz Corporation, Velan, Inc., IMI Plc., Valmet Oyj, Spirax Sarco Limited, and Trillium Flow Technologies.
Strategies deployed in Ball Valves Market
Apr-2022: Flowserve Corporation signed an agreement with Norway’s government. Through this agreement, Flowserve would deliver its Flowtop and Mark One control valves for the building’s onshore area in the Bergen region, which would reduce carbon capture before it is eventually transported to an offshore terminal and reserved forever below the ocean floor.
Apr-2022: Valmet Oyj announced a merger with Neles Corporation, a Finnish publicly traded company. With this merger, Valmet currently has a special, even enhanced portfolio for global process sectors and a solid medium for further industry growth, particularly in flow control solutions and automation systems.
Mar-2022: Flowserve Corporation formed a partnership with Gradiant, an environmental and risk science consulting firm. Through this partnership, the companies aimed to integrate Flowserve’s flow control solutions and product expertise with Gradiant’s innovative custom water treatment technology to deliver remarkable total water treatment solutions for consumers.
Jan-2022: Trillium Flow Technologies completed the acquisition of Termomeccanica Pompe, which offers engineered pumps & global service solutions for Power Generation. This acquisition would create a much bigger Italian engineered pump company by connecting two strong legacy brands with a highly compatible product offering, installed base, and service abilities. Moreover, the joint entity would be best arranged to support regional and international clients in a more complete and impactful way.
Oct-2020: Velan signed an agreement with MODEC Offshore Production Systems, Company presents floating production storage and offloading vessels. Through this agreement, the companies aimed to work together with clients to help them in determining those valve solutions which fulfill their engineering requirements while lowering the total cost of ownership. Additionally, companies believe that stable experience and innovative, affordable valve solutions are the main reason why consumers prefer Velan.
Feb-2020: Schlumberger expanded its geographical footprints by establishing a world-class manufacturing center in King Salman Energy Park that helps Saudi Aramco’s In-Kingdom Total Value Add program. The expansion would produce various technologies such as liner hangers & packers and valve technologies, including GROVE* valves and ORBIT* rising stem ball valves, to assist enhance the effectiveness of oil and gas processes in the Kingdom and neighboring nations.
Aug-2019: IMI completed the acquisition of PBM, a group of companies that serve as the middlemen between insurance companies, pharmacies, and drug manufacturers. Through this acquisition, PBM is completely compatible with IMI’s strategy and conveys a crucial option to widen IMI Critical Engineering’s portfolio into adjacent, and attractive industries.
Dec-2018: Emerson completed the acquisition of Advanced Engineering Valves, a foremost manufacturer of creative valve technology. This acquisition would allow Emerson to deliver its consumers the world’s widest offering of valves to enhance process execution and dependability.
Scope of the Study
Market Segments covered in the Report:
• Cast Iron
• Alloy Based
• Oil & Gas
• Energy & Power
• Water & Wastewater Treatment
• Chemicals & Pharmaceuticals
• Building & Construction
• Metals & Mining
• Pulp & Paper
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Emerson Electric Co.
• Schlumberger N.V.
• Flowserve Corporation
• Crane Co.
• Kitz Corporation
• Velan, Inc.
• IMI Plc.
• Valmet Oyj
• Spirax Sarco Limited
• Trillium Flow Technologies
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06321865/?utm_source=GNW
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