In the new research report released by The Insight Partners, titled ‘Ball Valve Market-Global Analysis and Forecast to 2025”, the global ball valve market is predicted to hit AUD$16.72 billion in about 4 years, registering a CAGR of 2 % during the forecast period of 2017 to 2025. For China ball valve supplier, what are the challenge and opportunities?
The growth of the ball valve is dependent upon industries such as refining, mining, power, chemical and oil and gas. If not used in these industries, the ball valves are used in power generation, fire safety protection services, ships, etc. Around the world, the manufacturing industries is anticipated tosustain their growth, as innovative and better technologies dive into these industries. The oil and gas industry is the biggest end-user sector in Europe. However, it is experiencing a slow growth rate. The availability of new oil sources in North America, primarily in the United States and the consequent increase in refining space brings a negative impact on ball valves sales in Europe. Since 2007, 14 refineries in Europe have shut down. Strangely, most of them were from France, where refining space went down by 30% to 14 million b/d in the space of a year. The refiners have campaigns to shut down with a dip in refining margins. Closures are more probable to come from Italy, where space had dropped by 10% over a space of 6 years compared with 15% in Germany and 22% in the United Kingdom. The European market for ball valves is anticipated to observe a huge CAGR growth of 1.6% in the forecast period.
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The Indian Ball Valve Market is expected to grow at a CAGR of 3.56% during the forecast period 2017-2025. India places incredibly high in nation development. This industrial development in the country is highly influenced by various government initiatives expanding the industrial category in India. However, the country’s economic graph has remained rough, but India’s industrial category of businesses is stimulating at a significant rate. Additionally, the country includes a considerably large chunk of unorganized sectors that make use of ball valves for liquid and gas control, which further contributes to India’s stock market.
The global market for ball valves has been sliced on the foundation of different varieties of ball valves, which comprises the Trunnion ball valves, floating ball valves and rising stem ball valves. Each ball valve has a different attachment and is formulated to fulfill different end-user requests. Some of the key end-users of this market are power and energy, pharmaceuticals, chemicals and oils and gases. Oil and gases are currently the largest patron of ball valves and would proceed its prominence over the forecast period.
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Geographically the market is currently overseen by developed countries such as North America and Europe, however, the market is anticipated to be in favour of Asia Pacific, as the region is expected to see ludicrous industrialization over the coming years. The overall ball valve market is very much fragmented with the top ten leading countries capturing only 30% of the total market. Some of their major companies having global market share are Metso, IMI PLC, Cameron, Flowserve, Emerson among others.