According to the new research report on "Ball Valve Market Forecast to 2028 – COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 22,091.40 million by 2028 and register a CAGR of 5.8% from 2023 to 2028.

Businesses in the US increasingly adopt new technologies and automation. The high penetration of the internet across North America, coupled with initiatives by ball valve market players to promote the use of digital technologies for smooth and seamless business operations and human error reduction, catalyzes the adoption of ball valves across North America. In November 2021, Rusco, a US manufacturer of water sediment filtration products and accessories, unveiled the ‘Smart Ball Valve’. The valves can be operated using apps on Apple and Android devices and accessed on Wi-Fi and Zigbee models. They are made for residential, commercial, and municipal water filtration systems. This smart ball valve automates two basic functions—sediment flushing and flow shut off. The apps alert if something interrupts normal operations and provides safe shut off during power cuts, which enhances the overall performance of a water filtration system. Such automation and the development of smart solutions in water filtration systems propel the ball valve market in North America.

The demand for ball valves is rising from several industries such as industrial water & wastewater and chemical processing. Low-headloss characteristics of ball valves help save energy costs during operations in these industries. To cater the demand for ball valve from these industries, ball valve market players in North America are continuously developing new and innovative solutions.

• In July 2020, SPX FLOW launched a new series of ball valves from its APV brand to cater to the demand from the food & beverage, dairy, personal care, chemical, and other industries.

• In January 2021, Val-Matic launched Ener G Rubber Seated Ball Valve as a solution for municipal and industrial water and wastewater applications. These ball valves provide 100% flow area equal to the pipe size when operated fully, which helps save pumping costs.

• In September 2021, Schlumberger unveiled Cameron AOP Series D2 trunnion-mounted ball valve with improved quality and performance.

• In November 2022, Valworx, a valve manufacturer, unveiled a new line of sanitary ball valves. The valves can be used in production process of pharmaceuticals, pet care products, food, beverages, and personal care.

Thus, new product launches by ball valve market players to increase revenue and cater to demand from several industries boost the ball valve market growth in North America.

The US accounted for the largest share of the North America ball valve market. It is one of the largest petroleum producers, with over 500,000 producing wells. According to US Energy Information Administration, the US has 130 petroleum refineries that produce petroleum products to meet the demands from the country and other nations. To strengthen its import activities, the US is focused on building new refineries to increase its petroleum production. According to US Energy Information Administration, in July 2022, the country’s newest refinery in Texas became operable on January 1st, 2022. The US is also planning to increase the existing refineries' refining capacity and build new ones, which demand ball valves for the efficient working of these refineries. To cater to the demand from these refineries, ball valve market players are introducing new products and series of ball valves. In June 2020, Swagelok Company launched Swagelok GB series ball valves. These are full-bore, bidirectional flow-capable ball valves designed to control high flow rates at a working pressure of 6,000 psig (413 bar), which can be used in demanding applications such as oil and gas refineries. Thus, new product launches by the market players to cope with the growing demand for ball valves in upgrading and building new refineries will propel the ball valve market growth in the US during the forecast period.

The ball valve market size is segmented on the basis of type, material, and end-use industry. Based on type, the ball valve market size is segmented into rising stem, floating, and trunnion mounted. Based on material, the ball valve market is segmented into stainless steel, cast iron, cryogenic, alloy, and others. Based on end-use industry, the ball valve market is segmented into water management, oil & gas, chemicals, pharmaceuticals, energy & power, and others.

Key Findings of Study:

Asia Pacific is expected to dominate the global ball valve market share in 2022, followed by North America and Europe. North America is among the largest food and beverage processor across the world. The growing demand for packaged foods led to an increase in the production of food and beverages, which propels the demand for ball valves. Moreover, the region is prompt in hydropower projects. According to the International Hydropower Association, hydropower projects in the US have a total capacity of almost 102,000 MW. These hydropower projects require ball valves for shut-off valves in front of the water turbine in larger numbers, which fuels the ball valve market growth in North America.

Europe has a presence of leading drug manufacturers across the world. The region consists of 36 national pharma associations and 39 leading pharmaceutical companies. Switzerland is the main producer of pharmaceutical products in Europe. These factors bolster the demand for ball valves in the region.

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