At 7.6% CAGR, the Asia Pacific ball valve market is projected to be worth 9,543.20 US$ million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific ball valve market was valued at US$ 6,612.76 million in 2023 and is expected to reach US$ 9,543.20 million by 2028, registering a CAGR of 7.6% from 2022 to 2028. Rising demand for ball valves in oil & gas industry and growing mergers & acquisitions are expected to drive the market for Asia Pacific ball valves.

Ball valves are used in refinery and gas processing facilities. In gas processing facilities, ball valves are used to control natural gas flow during various processing stages, such as separation, dehydration, and sweetening. In refineries, the valves control the flow of crude oil and refined products during the distillation, cracking, and blending process. Moreover, ball valves are used in storage and distribution facilities to manage the flow of oil and gas into storage tanks and other vessels. As the valve provides tight shutoff and can withstand harsh operating conditions, it becomes an ideal solution for storage and distribution applications. Also, ball valves are used in offshore oil and gas platforms to on-off hydrocarbons and other fluids flow during production and drilling activities. Thus, increasing use of ball valves in various applications in the oil & gas industry is fueling the ball valve market growth.

On the contrary, growing use of other valves as an alternative hamper the Asia Pacific ball valve market.  

Based on type, the Asia Pacific ball valve market is segmented into rising stem, floating, and trunnion mounted. The trunnion mounted segment held 42.0% share of Asia Pacific ball valve market in 2022, amassing US$ 2,605.40 million. It is projected to garner US$ 4,212.38 million by 2028 to expand at 8.5% CAGR during 2022–2028. 

Based on by material, the Asia Pacific ball valve market is segmented into stainless steel, cast iron, cryogenic, and alloy. The alloy segment held 27.6% share of Asia Pacific ball valve market in 2022, amassing US$ 1,711.56 million. It is projected to garner US$ 2,834.61 million by 2028 to expand at 8.9% CAGR during 2022–2028.

Based on by end- user industry, the Asia Pacific ball valve market is segmented into water management, oil & gas, chemicals, pharmaceuticals, energy & power, and others. The oil & gas segment held 22.0% share of Asia Pacific ball valve market in 2022, amassing US$ 1,362.85 million. It is projected to garner US$ 2,244.95 million by 2028 to expand at 8.8% CAGR during 2022–2028.

Based on country, the Asia Pacific ball valve market has been categorized into the Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the India captured 18.8% share of Asia Pacific ball valve market in 2022. It was assessed at US$ 1,163.94 million in 2022 and is likely to hit US$ 1,960.17 million by 2028, exhibiting a CAGR of 9.2% during the forecast period.      

Key players dominating the Asia Pacific Ball Valve are Velan Inc; Neway Valve Suzhou Co Ltd; KITZ Corp; Flowserve Corp; Crane Co; Emerson Electric Co; and Schlumberger NV.

• This valve is designed to ASME and API specifications. The AOP Series D2 ball valve can be used in many oilfield production applications. AOP Series D2 ball valve specifications: sizes: 2 to 12 in [50 to 300 mm], pressure classes: 150 to 600, provisions for secondary seat sealant or stem sealant injection, manufactured and tested following API Spec 6D, Fire tested to API Specs 607 and 6FA, NACE MR0175/ISO 15156, low emissions to API Spec 641.
• Lloyd's Register witnessed the high-temperature & high-pressure floating ball valve prototype developed by Neway Valve and successfully passed the high-temperature cycle test of 550℃ and 650℃.

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