Valves are mechanical devices that facilitate assistance in controlling as well as regulating the flow of liquid and gases across various industrial and commercial applications. Among these the ball valve are specially designed valve constituting pivoting ball that aids in efficient controlling of material flow among numerous end-user industries. The two-way ball valves are considered to be the most common and highly used ball valves. Two-way ball valves enables flow to travel straight from the inlet to the exit. Moreover, three-way and four-way ball valves enable the flow to travel in several directions, which includes 90 degree angles. Different ball valves are used for different applications, depending on the nature and requirement of the industry vertical. As a result, the ball valve market to witness an attractive growth rate during the coming years and provide numerous profitable opportunities for the market players in the forecast period. The South America ball valve market region is expected to witness a CAGR growth rate of 0.7% in the coming years.
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The global ball valve market has been segmented by type into rising stem, floating and trunnion mounted ball valves. On the basis of material, the market is bifurcated into stainless steel, cast iron, cryogenic, alloy and others. Also, by end-user verticals, the market is categorized into water management, oil & gas, chemicals, pharmaceuticals, energy & power and others. The oil & gas segment under end-user verticals segment had accounted for the largest share of the ball valve market in 2016 and is expected to continue its dominance to grow at the highest CAGR of 2.8% between 2017 and 2025.
The major industry players in the Ball Valve market include Cameron Schlumberger Inc., Crane Co., Curtiss Wright Corporation, Emerson Electric Co., Flowserve Corporation, IMI PLC, KITZ Corporation, Metso Corporation, Valvitalia SpA and Velan Inc. among others.
Growing demand for oil & gas energy coupled with an increase in deep sea oil & gas exploration activities
According to the International Energy Agency, growth in oil supply next few years is expected to outpace an anticipated pick-up in demand and this will boost global consumption above 100 million bpd next year for the first time. Some new pipeline projects will come into execution in Also, the Canadian Association of Petroleum Producers (CAPP) announced that the country will transport an added capacity of oil sands production to markets across North America and other global regions. U.S. crude oil and petroleum product gross exports have more than doubled over the past six years, increasing from 2.4 million barrels per day (b/d) in 2010 to 5.2 million b/d in 2016. Exports of distillate, gasoline, propane, and crude oil have increased in total. Apart from this, China is also planning to develop cleaner energy supplies. Natural gas is expected to play a key role in the years to follow because of its low price and low emissions. Increasing demand for natural gas provides a push to the construction of gas pipeline-related projects in China and is expected to boost the industrial valves market in the oil and gas industry. Moreover, the increase in investment towards commercialization and subsequent production of oil reserve along with surge in deep sea exploration is also anticipated to boost the demand for various valves demand. Subsequently, driving the growth for ball valve market in the coming years.
Increase in scope of application for IoT integrated ball valves
The improvement in technological capabilities has boosted the scope for application of IoT across different industry vertical. Furthermore, the growing emphasis towards achieving superior equipment efficiencies along with minimizing operational costs is also anticipated to boost the penetration of IoT among different equipment and devices. The oil and gas market is shifting toward valves integrated with embedded processor and networking capability to achieve sophisticated monitoring technology which can be coordinated with central control station. In order to attain this in industries, industrial valves are connected to data network, coordinating control valve operation with the data available. Connecting valves to a network allows distributed control, which can enable operators to reconfigure piping and networking systems so that a field can continue producing even if there is a blockage in, or damage to, the pipeline network. Thus, the growing popularity of IoT especially among industrial devices such as ball valve market is expected to provide numerous profitable opportunities for the market players in the coming years.
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The valve provide an effective solution for application that deal with high forces across different industrial as well as commercial application. . A trunnion mounted ball valve has added mechanical attachments at both on top as well as bottom on the ball. This mounting is appropriate for very high pressure piping.
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