October 10, 2023 08:14 ET | Source: Emergen Research Emergen Research
Vancouver, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The global Ball Valves Market size was USD Billion 13.12 in 2022 and is expected to register a revenue CAGR of 4.9% during the forecast period, according to the latest analysis by Emergen Research. Growing projects to build more new nuclear power plants and replace existing valves across the globe is a major factor expected to drive market revenue growth during the forecast period. The ball valves market revenue growth is driven by the expanding global energy demand. The need for dependable flow control products including ball valves grows dramatically as the infrastructure for energy production and delivery develops. Ball valves are essential parts in the production, transportation, and exploration of oil and gas, as well as the construction of power plants. They are essential in guaranteeing efficient and safe flow of fluids in pipelines, which lowers the chance of leaks and accidents. To meet the rising need for energy, there is a rising demand for high-quality ball valves that provide tight shut-off capabilities, corrosion resistance, and long-term reliability. The demand is driven by valve technology innovation. Three Way Ball Valve
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For example, on 15 March 2022, the 585HP-LF and 585HP-66-LF bronze ball valves are now available in 2 12", 3", and 4" sizes, with solder, threaded, and press end connections, from NIBCO Inc. The lead-free and resistant to corrosion 585HP full port ball valve series is intended for industrial and commercial uses and offers simpler installation, flexibility, and long lifespans. Moreover, ongoing technological advancements in valve design, materials, and automation are improving efficiency and reliability of ball valves, making them more appealing to industries seeking advanced solutions.
However, applications where the temperature is higher than a predetermined threshold are not acceptable for ball valves. This is so that the valve's functionality should not be affected by damaged seals and seats. compared to other types of valves, ball valves are often more expensive. This is due to their more intricate designs, which call for precise manufacture.
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Major Companies and Competitive Landscape
The global ball valves market is fragmented, with many companies accounting for the majority of market revenue. Major companies are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective ball valves. Some major companies included in the global ball valves market report are:
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Some Key Highlights from the Report
Browse a Detailed Summary of the Research Report @ https://www.emergenresearch.com/industry-report/ball-valves-market Emergen Research has segmented the global ball valves market on the basis of type, material, actuation type, size, application, and region:
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