The industrial valves market size is projected to reach US$ 89,331.32 million by 2031 from US$ 64,335.89 million in 2023, with a CAGR of 4.2% by 2031. Increasing investment toward power generation and oil and gas infrastructure across the globe is expected to boost the demand for ball valves, which, in turn, is expected to fuel the market growth during the forecast period. In addition, constant development initiatives undertaken by global ball valve manufacturers are contributing to the market growth. For instance, in November 2021, Rusco announced the launch of a smart, automated ball valve for home filtration, well water, and commercial and municipal applications, which can be paired with smartphones for program automation and control sediment flushing and flow shutoff.
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Top Key Major Players:-
- Velan Inc
- Crane Co
- CIRCOR International Inc
- Flowserve Corp
- Emerson Electric Co
- KITZ Corporation
- Neway Valve (Suzhou) Co Ltd
- Spirax Sarco Engineering Plc
- Schlumberger Ltd
- and Weir Group PLC