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Ball Valves Market Size & Growth
Release time：
Dec 25,2024
The global ball valves market size is expected to grow from USD 13.6 billion in 2023 to USD 17.0 billion by 2028, growing at a CAGR of 4.6% between 2023 to 2028.
Aging infrastructure in oil & gas and water & wastewater treatment industries is a primary concern in several countries. For instance, the US has a wide network of old pipelines that are used for transporting critical commodities, including natural gas, oil, water, and wastewater. Several types of valves, including ball valves, used in old infrastructure, have surpassed their operational life. Hence, the replacement of such old or outdated valves is imperative for improved performance and better worker safety. The need for the replacement or repair of old infrastructure is expected to create demand for new ball valves. End users are focusing on adopting highly reliable, integrated, and cutting-edge solutions to resolve the issue of maintenance. Ball valves have been in use in process industries for more than 40 years. These valves are prone to wear and tear at half of their age. Thus, old valves are being replaced with new customized valves that meet the requirements of material, size, and others for critical applications. The old infrastructure of the process industries is undergoing the replacement of valves.
The valve industry is employing advanced technologies in its offerings. Smart valves offer several benefits to end-user industries or operators of valves. For instance, when residential applications such as traditional taps are considered, turning on and off the valves can easily be done manually; however, it is very complex to operate hundreds of valves across a wide area of a utility network. Also, on a commercial scale, controlling the flow of water in a network requires personnel to release the water, thereby leading to additional costs and inefficient and non-accurate process handling. In contrast, smart valves give users complete control over the flow of a pipe network. Smart valves enable the operator to control the valve remotely, both from inside the building or from some other area. Smart valves will prove to be a great solution for utility companies, factories, housing estates, mining and irrigation systems, adding significant value to many industrial and residential use cases. Various valve manufacturers are investing in the research and development activities related to smart valves.
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