At 5.3% CAGR, the North America Ball Valve Market is projected to be worth US$ 6,464.70 million by 2028, says Business Market Insights

According to Business Market Insights research, the North America Ball Valve market was valued at US$ 4,999.92 million in 2023 and is expected to reach US$ 6,464.70 million by 2028, registering a CAGR of 5.3% from 2023 to 2028. Rising demand for ball valves in oil and gas industry and growing mergers and acquisitions are the critical factors attributed to the North America Ball Valve market expansion.

Market players are expanding their manufacturing and distribution facilities owing to the growing use of ball valves in oil & gas, water & wastewater management, chemical, and other industries. Hence, the companies are working on various strategic alliances, such as mergers and acquisitions. A few mergers and acquisitions by the companies are mentioned as: In September 2019, IMI plc announced the proposed acquisition of PBM Inc. at US$ 85 million. PBM is a manufacturer of high-quality industrial valves and flow control products. The acquisition will help IMI expand its presence in the pharmaceutical and biotechnology industry. In June 2020, OMB Valves SpA acquired BEL Valves S.r.l. Through this acquisition, OMB Valves can expand its production through the Milan facility of BEL Valves. The facility produces API 6D ball and gate valve products, which will help OMB to expand its product portfolio. In September 2020, Industrial Valco announced the acquisition of Beric Valves, a producer of cast and forged steel gate, check, and ball valves for the US and its territories. Through this acquisition, Industrial Valco can provide high-quality valves at competitive prices. In January 2021, Anvil and Smith-Cooper International announced the acquisition of ABZ and Quadrant Valve brands from Forum Energy Technologies, Inc. Quadrant is a provider of patented, quarter-turn specialty ball and butterfly valves to the chemical, petrochemical, and upstream energy markets. The acquisition will help Anvil and Smith-Cooper International enhance its flow control portfolio. In April 2022, ITT Inc. announced the acquisition of Habonim, an Israeli-based manufacturer of ball valves and actuation technologies for harsh applications. Habonim’s offering of ball valves, particularly for harsh applications, will help IIT to drive stronger sales growth for industrial processes. Mergers and acquisitions help companies to expand their product portfolio and presence to provide their customers with different ball valves. Thus, the rising number of mergers and acquisitions is boosting the growth of the ball valve market.

On the contrary, growing use of other valves as an Alternative hampers the North America Ball Valve Market.  

Based on Type, the North America Ball Valve market is segmented into rising stem, floating, trunnion mounted. The trunnion mounted segment held 43.1% share of North America Ball Valve Market in 2023, amassing US$ 2,156.32 million. It is projected to garner US$ 2,877.51 million by 2028 to expand at 5.9% CAGR during 2023–2028. 

Based on material, the North America Ball Valve market is segmented into stainless steel, cast iron, cryogenic, alloy. The stainless-steel segment held 38.3% share of North America Ball Valve Market in 2023, amassing US$ 1,914.07 million. It is projected to garner US$ 2,504.33 million by 2028 to expand at 5.5% CAGR during 2023–2028.

Based on end user, the North America Ball Valve market is segmented into water management, oil & gas, chemicals, pharmaceuticals, energy & power, and others. The water management segment held 10.8% share of North America Ball Valve Market in 2023, amassing US$ 537.97 million. It is projected to garner US$ 652.69 million by 2028 to expand at 3.9% CAGR during 2023–2028.

Based on country, the North America Ball Valve market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 76.6% share of North America Ball Valve Market in 2023. It was assessed at US$ 3,831.66 million in 2023 and is likely to hit US$ 5,607.68 million by 2028, exhibiting a CAGR of 5.8% during the forecast period.      

Key players dominating the North America Ball Valve market are Crane Co; Curtiss-Wright Corp; Emerson Electric Co; Flowserve Corp; KITZ Corp; Neway Valve Suzhou Co Ltd; Schlumberger NV; Valvitalia SpA; and Velan Inc, among others.   

• Jul-2021, 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℃.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com