Global Ball Valves Market to Reach $31.6 Billion by 2030
The global market for Ball Valves estimated at US$14.1 Billion in the year 2023, is expected to reach US$31.6 Billion by 2030, growing at a CAGR of 12.2% over the analysis period 2023-2030. Stainless Steel Ball Valves, one of the segments analyzed in the report, is expected to record a 13.6% CAGR and reach US$13.5 Billion by the end of the analysis period. Growth in the Alloy Based Ball Valves segment is estimated at 12% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.7 Billion, While China is Forecast to Grow at 16.1% CAGR
The Ball Valves market in the U.S. is estimated at US$3.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.6 Billion by the year 2030 trailing a CAGR of 16.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.3% and 10.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 9.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5 Billion by the year 2030.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook