Ball Valves Global Market Report 2024

The global ball valves market has grown steadily in recent years. It will grow from $13.31 billion in 2023 to $13.87 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The expansion observed during the historical period can be attributed to several factors, including the growth in oil and gas exploration and production, increased activity in water and wastewater treatment, the demand in petrochemical and chemical processing, a focus on energy efficiency, infrastructure development initiatives, and the integration of automation and control systems.

The global ball valves market is expected to see steady growth in the next few years. It will grow to $16.23 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The anticipated growth in the forecast period can be attributed to a heightened focus on smart valves, the rise in renewable energy projects, growing concerns about water scarcity, increasingly stringent environmental regulations, the resilience of supply chains, and the emergence of new end-user industries. Key trends expected in the forecast period encompass the increasing adoption of automation and control systems, the integration of advanced materials, a growing role in industrial process control, the demand for high-pressure and high-temperature applications, rapid growth in the LNG (liquefied natural gas) sector, a shift towards floating ball valve designs, and strategic mergers and acquisitions within the ball valve market.

Rapid urbanization is expected to be a driving force behind the growth of the ball valve market in the foreseeable future. The ongoing development of infrastructure and construction activities stemming from urbanization has led to an increased demand for ball valves. According to a World Bank report in 2022, approximately 4.4 billion people, constituting 56% of the global population, resided in cities. Projections indicate that by 2050, nearly 7 out of 10 individuals will live in urban areas, surpassing the current urban population. Consequently, this surge in urbanization acts as a catalyst propelling the expansion of the ball valve market.

The burgeoning oil and gas industry is anticipated to significantly drive the growth of the ball valve market ahead. Ball valves play a crucial role in this sector, primarily used for controlling the flow of high-pressure liquids and gases with minimal pressure drop. Notably, the oil and gas industry covers various operations, including exploration, extraction, refining, transportation, and marketing of petroleum products. As reported by the US Energy Information Administration in March 2023, there was a noticeable increase in US crude oil output, reaching 12.4 million barrels per day (b/d) in 2023 from the previous record high of 11.7 million b/d in 2022. This substantial growth within the oil and gas sector directly contributes to driving the expansion of the ball valve market.

The adoption of 3D printing technologies stands out as a significant trend gaining traction within the ball valve market. Leveraging this technique for building three-dimensional objects layer by layer based on computer-generated designs, companies are optimizing valves to meet specific customer requirements. For instance, Neles Corporation, a Finland-based entity specializing in industrial valve design and manufacturing, introduced a 3D-printed valve from its T5-series standard stainless steel ball valve for field testing in May 2021. This initiative provided valuable insights into the potential of utilizing 3D printing for pressure-retaining parts, significantly reducing lead times. Moreover, 3D-printed noise attenuation trims exhibit improved flow paths and utilize less material compared to traditionally manufactured trims, showcasing the advancements and benefits of employing 3D printing in valve production.

Prominent companies in the ball valve market are actively introducing cutting-edge solutions, notably stainless steel CO2 ball valves, as a strategic move to gain a competitive advantage. These specialized ball valves, crafted from stainless steel, are specifically designed to manage high-pressure carbon dioxide (CO2) applications across various industries, including the oil and gas sector. They are instrumental in controlling fluid and gas flow with minimal pressure drop. For instance, in June 2021, Castel, an Italy-based supplier specializing in refrigeration and air conditioning components, unveiled its innovative line of stainless-steel CO2 ball valves (6588E). These valves are engineered to operate at pressures up to 150 bar (2,176 psi) and temperatures of 150°C (302°F), notable for their construction without brazing or welding between the valve body and connections. This design significantly reduces potential leakage points, enhancing structural integrity and durability for high-pressure applications. With only one weld in the valve, as opposed to brazing or multiple welding points, the new 150-bar ball valve boasts a more robust and resilient structure suitable for high-pressure scenarios.

In a strategic move aimed at strengthening its market position, IIT Inc., a US-based manufacturer specializing in highly engineered critical components, completed the acquisition of Habonim in April 2022 for $140 million. This acquisition strategy is geared toward leveraging Habonim's ball valve portfolio to drive enhanced sales growth and focus on challenging applications within lucrative end markets. Habonim, an Israeli-based manufacturer renowned for its expertise in producing ball valves and actuation technologies, aligns with IIT's vision to expand its product offerings and capitalize on specialized applications, thereby solidifying its position in the market.

Major companies operating in the ball valves market report are Emerson Electric Co., Schlumberger Limited, Flowserve Corporation, IMI PLC., Valmet (Neles Corporation), Spirax Sarco Limited, Honeywell International Inc., Parker Hannifin Instrumentation Products Division, SSP Fittings Corp., Columbia Specialty Company, Perrin GmbH, M&M International, FBV Inc., KITZ Corporation, Velan Inc., Cameron International Corporation, Neway Valve (Suzhou) Co. Ltd., Wuzhou Valve Co. Ltd., Jiangsu Shentong Valve Co. Ltd., Bonney Forge Corporation, Bray International Inc., Crane Co., Dwyer Instruments Inc., Flomatic Corporation, Forum Energy Technologies Inc., Georg Fischer Ltd., Hattersley Aladdin Limited, KSB SE & Co. KGaA, NIBCO INC., Valvitalia SpA

Asia-Pacific was the largest region in the ball valves market in 2023. The regions covered in the ball valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ball valves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key types of ball valves include trunnion-mounted ball valves, floating ball valves, and rising stem ball valves. These valves are constructed from materials such as steel, cast iron, cryogenic alloys, and others. Trunnion-mounted ball valves feature a restricted ball rotation supported by bearings, often utilizing spring mechanisms to press the challenging seat against the stationary ball. This system minimizes bearing pressure and prevents shaft fatigue. Ball valves are available in various sizes, including < 1', 1'-5', 6'-24', 25'-50', and >50'. Industries employing ball valves span oil and gas, energy and power, water and wastewater treatment, chemicals, building and construction, pharmaceuticals, agriculture, metals and mining, pulp and paper, as well as food and beverages.

This report provides ball valves market statistics, including ball valves industry global market size, regional shares, competitors with a ball valves market share, detailed ball valves market segments, market trends and opportunities, and any further data you may need to thrive in the ball valves industry. This ball valves market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ball valve market consists of sales of full port, standard port, reduced port, and v port. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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