As the demand for industrialization is increasing in developing economies, so is the need for ball valves. This factor is estimated to drive the growth of Ball Valves Market. In the recent past, a concept known as Internet of Things (IoT) for customized products has emerged. This concept, making its way through the market has brought about an Industrial Revolution along with the concept of Industry 4.0. The emergence of IoT is likely to drive the Ball Valves Market. People are now more aware and concerned about their safety. This growing concern is one of the likely factors that may push the growth of Ball Valves Market. In the Middle East region, growing inclination towards the manufacturing industries may lead to growth in the Ball Valves Market. Trunnion mounted ball valves segment is expected to be the fastest growing segment and at a very high CAGR.
In 2016, the energy and power application segment accounted for the biggest share of the global Ball Valves Market. Ball Valves are used in the power generation applications for controlling the flow of media, reducing or increasing the flow, relieving a pipe system from certain pressure. As the investments in the power generation segment are increasing, Ball Valves Market is expected to grow at a high CAGR during the forecast period
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The Ball Valves Market is segmented by size into:- Up to 1” 1”–6” 6”–25” 25”–50” 50” and above
The Ball Valves Market is segmented by material into:- Cast Iron Stainless Steel Cryogenic Alloy Others
The Ball Valves Market is segmented by vertical into:- Oil & Gas Water & Wastewater Energy & Power Chemicals Food & Beverage Pharmaceuticals Building & Construction Others
APEJ region is estimated to account for the largest share of the Ball Valves Market during the forecast period, owing to its huge population and its rising electricity demand, government pressure for power reliability and excellent product quality; APEJ is expected to show growth trends at a very high CAGR, in the forecast period.
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As the population is increasing, demand for electricity is also increasing. So, the Asian countries are gradually turning to coal to fulfill their electricity demands.
Some of the major players of the Ball Valves Market are:- Emerson Electric (US) Astech Valve Co. Ltd. (Taiwan) Cameron International Corporation(US) Dwyer Instruments Inc. (US) Flowserve Corporation (US) Flomatic Corporation (US) MRC Global Inc. (US) Swagelok Company(US) Weir Group PLC(UK) Forum Energy Technology (US) Crane Company (US)
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