Ball Valve Market Size, Share, Opportunities, And Trends By Type (Full Port, Standard Port, V Port, Trunnion, Others), By Body Style (Single Body, Split Body, Top Entry, Welded), By Material (Stainless Steel, Brass, PVC (Polyvinyl Chloride)), By End-User (Oil & Gas Power & Energy, Chemicals, Manufacturing, Others), And By Geography - Forecasts From 2023 To 2028

The global ball valve market was valued at US$11.536 billion in 2021 and is projected to expand at a CAGR of 4.05% over the forecast period to reach US$15.231 billion by 2028.

Ball valves are a type of valve that controls the flow of fluids or gases through a pipe or conduit and are typically operated by a lever or a handle connected to the ball, allowing for easy control of the valve. Ball valves are known for their durability, reliability, and ease of operation, and they come in various types, such as full port, standard port, V port, and trunnion, among others. Ball valves are used in oil & gas, power & energy, chemicals, manufacturing, and other sectors where precise control and reliable shut-off are required. The rising oil & gas production and growing electricity demand are expected to drive the demand for ball valves.

The surge in the production of oil & gas is expected the drive the ball valve market growth.

Increasing oil and gas production calls for better infrastructure for the transportation, processing, and distribution of these resources. Pipelines are crucial for transporting oil and gas over long distances, and ball valves are essential for controlling the flow within these pipelines. Ball valves are employed in wellheads, pipelines, and gathering systems to regulate oil and gas flow, allowing operators to optimize extraction and minimize operational risks. Refining and processing facilities require valves that can handle the high pressures and temperatures of refining crude oil and processing natural gas. Ball valves offer superior sealing capabilities, durability, and the ability to handle demanding operating conditions, making them ideal for these applications. Oil & gas production has increased over the past couple of years due to the demand surge from major end users. According to a report by World Oil in 2022, oil production in Middle-East countries was 24.625 MMbpd in 2021, a 2% increase from the previous year. According to the International Energy Agency (IEA), in 2023, the use of natural gas in India is anticipated to increase by 25 BCM, averaging 9% yearly growth until 2024. Such an increase in oil & gas production will simultaneously accelerate ball valves market demand, thereby propelling future market growth.

The rising electricity demand is augmenting the demand for ball valves.

Ball valves are crucial in power generation, transmission, and distribution systems, ensuring the efficient flow control necessary to meet the increasing electricity demand. In thermal power plants, hydroelectric power plants, and other power generation facilities, ball valves control the flow rates, pressure, and temperature of steam, water, or other fluids to optimize energy production and ensure safe and efficient operation. Ball valves are utilized in distribution substations and switchgear to control the flow of electricity, isolate sections for maintenance or repairs, and ensure reliable power distribution. Growing population and industrial development have increased electricity demand which is expected positively impact ball valves demand. According to the International Energy Agency 2021, the global electricity demand grew by 5% in 2021 and was expected to grow by 2.4% in 2022. In 2022, the PowerGrid Corporation of India (PGCIL) plans to invest $34.2 billion ($2.8 trillion) by 2030 in building an interstate transmission system (ISTS) to evacuate clean energy.

The Asia Pacific region is expected to hold a significant market share throughout the projected period. 

The Asia-Pacific region is expected to dominate the market due to rapid industrialization and rising demand for electricity in India and China, coupled with the increasing oil & gas production in the region. In 2019, the Chinese government invested $77 billion to increase domestic oil production by 50%, up more than 2 million barrels per day, during the following five years. In August 2022, the National Hydroelectric Power Corporation Limited of India and the Government of Himachal Pradesh inked an implementation agreement for the 500 MW Dugar Hydroelectric Project in the Chamba District of Himachal Pradesh. Such positive developments will boost the demand for ball valves, propelling their regional growth.

Market Developments:

• November 2022: Fitok launched "FITOK High Purity Ball Valves" with working pressure up to 1000 psig (69.0 bar) designed to meet the requirements of degreasing, low working pressure, high flow rate, and bi-directional flow for the clean, dry air (CDA) and bulk gas distribution line, which are widely used in specialty gas, semiconductor, and chemical industries.
• June 2022: GF Piping Systems introduced a new "Ball Valve 543 Pro " with sensors and actuators that offer new possibilities for process automation and are used for mixing and distribution applications ranging from water treatment to complex chemical and pharmaceutical processes.
• June 2021: GF Africa launched the new "Ball Valve 374" with EPDM gaskets which aims to offer a more competitive product for non-industrial applications such as swimming pools, SPA’s, water parks, building technology, fountains & municipal landscaping, irrigation, fish farming, low-end water treatment, and many others.

Ball Valve Market Scope:

Market Segmentation:

• By Type
  • Full Port
  • Standard Port
  • V Port
  • Trunnion
  • Others
• By Body Style
  • Single Body
  • Split Body
  • Top Entry
  • Welded
• By Material
  • Stainless Steel
  • Brass
  • PVC (Polyvinyl Chloride)
• By End-User
  • Oil and Gas
  • Energy and Power
  • Chemical
  • Manufacturing
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Other