Forged Steel Trunnion Mounted Ball Valve Market
Forged Steel Trunnion Mounted Ball Valve Market Forecasts to 2030 - Global Analysis By Type (Standard Port and Full Port), Application (Power Generation, Water Treatment Industry, Chemical and Petrochemical Industry, Oil and Gas Industry and Other Applications) and By Geography
|
Years Covered |
2021-2030 |
|
CAGR (2023 - 2030) |
6.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Forged Steel Trunnion Mounted Ball Valve Market is growing at a CAGR of 6.2% during the forecast period. A robust industrial valve made for high-pressure applications is the forged steel trunnion-mounted ball valve. The forging process ensures a high-quality, homogeneous material with improved mechanical properties, making the valve well-suited for applications involving high pressure, high temperature, and corrosive environments. In addition, the trunnion-mounted design uses trunnion-stationary which supports in improving stability and lower operating friction and can withstand high pressures and provide dependable, effective fluid control in challenging environments.
Market Dynamics:
Driver:
Rise in global energy demand
The utilization of forged steel trunnion-mounted ball valves is essential in maintaining and enhancing power plant operations, particularly in developing nations. These valves play a crucial role in facilitating the control and transportation of fluids in energy infrastructure, ensuring the safe and efficient operation of processes in high-pressure settings. Moreover, the need for energy is growing worldwide as investments in energy infrastructure needs for fuel and electricity which are boosting market expansion.
Restraint:
High cost
The premium forged steel, which is strong and long-lasting but also quite expensive in comparison to other valve materials, is used in the manufacture of the valves. Complex design and engineering are required for forged steel trunnion-mounted ball valves (FS-TMBVs), which contribute to higher manufacturing costs. In addition, the valves require modifications to the existing piping infrastructure, which can further increase the overall installation costs. Small and medium-sized enterprises or projects with budget constraints face problems, thereby hindering market growth.
Opportunity:
Technological advancements
The technological advancement of forged steel trunnion-mounted ball valves places them as cutting-edge solutions, satisfying the needs of contemporary industrial applications. The performance and efficiency of valves are improved by the integration of technologies, such as sensors and remote monitoring capabilities. These materials enhance the valves' resistance to harsh operating conditions, improving their lifespan and reducing maintenance requirements.
Threat:
Difficulties in installation and maintenance
These valves' intricate design may present difficulties during installation, which could cause delays and raise expenses. Improper installation can lead to leaks, reduced performance, or even safety hazards. In addition, accessing and servicing these valves, especially in remote or confined spaces, can be challenging, requiring specialized tools and skilled personnel. Industries may hesitate to adopt these valves due to concerns about operational disruptions during installation or maintenance activities, which pose a challenge for the market’s growth.
Covid-19 Impact
The forged steel trunnion-mounted ball valves market experienced notable negative impacts due to the COVID-19 pandemic. The widespread economic disruptions, lockdowns, and restrictions significantly affected the industrial landscape, including the valve manufacturing sector. Increased market pressure was caused by fluctuations in the cost of raw materials and logistical difficulties. Additionally, travel restrictions and social distancing measures impeded business collaborations and reduced industrial activities and oil price volatility which consequently hampered market growth.
The standard port segment is expected to be the largest during the forecast period
The standard port segment is estimated to hold the largest share. These valves are meant to be used in situations where modest flow rates are adequate. Standard port valves are appropriate for a variety of industries, including petrochemicals, power generation, and oil and gas, because they strike a balance between cost-effectiveness and effective fluid control. They preserve the robustness and longevity of forged steel construction by guaranteeing dependable performance in mid-range pressure, which thereby gradually propelling market growth.
The power generation segment is expected to have the highest CAGR during the forecast period
The power generation segment is anticipated to have highest CAGR during the forecast period. These valves guarantee accurate and dependable fluid regulation in crucial power generation processes because they are specifically made for high-pressure applications. Moreover, the power generation industry undergoes transitions towards cleaner and more efficient technologies, there is an increasing need for advanced valve solutions to optimize performance and ensure the safety of critical processes, which prolongs the life of power plant systems and ensures smooth operation which are boosting the segment expansion.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to government regulations and procurement practices that create opportunities for valve manufacturers, like energy policies and infrastructure development projects. A focus on enhancing operational efficiency and minimizing maintenance costs in critical applications are evolving. In addition, key regions in North America focus on innovation, production activities, and strategic collaborations to maintain a competitive edge and technologically advanced durable valves, which further propel the region demand.
Region with highest CAGR:
Europe is expected to witness highest CAGR over the projection period, due to the integration of advanced features in valve systems, which include automation, smart technologies, and Industry 4.0 principles. This region is home to some of the major players, including Velan Inc., Cameron International Corporation, Emerson Electric Co., and Kitz Corporation. The use of data analytics for predictive maintenance, intelligent monitoring, improves product performance and efficient flow control features, which are integral to ensuring operational safety and minimizing the environmental impacts of critical processes, thereby driving the region’s expansion.
Key players in the market
Some of the key players in the Forged Steel Trunnion Mounted Ball Valve Market include Bray, L&T Valves Limited, Argus Machine, Velan Inc., Cameron International, Powell Valves, Neway Valve, Flowserve Corporation, Circor International, Inc., Kitz Corporation and Emerson Electric Co.
Key Developments:
In November 2023, Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services, has announced the divestment of its 100% stake in L&T Infrastructure Engineering Limited (LTIEL), a provider of standalone engineering consultancy services for the infrastructure sector in India.
In October 2023, CIRCOR International, Inc. announced the successful completion of its acquisition by investment affiliates of KKR per share.
In August 2023, Emerson announced a definitive agreement to acquire FLEXIM Flexible Industriemeßtechnik GmbH, a global leader in clamp-on ultrasonic flow measurement for liquids, gases and steam.
In June 2023, CIRCOR International, Inc. announced that it has entered into a definitive agreement to be acquired by investment funds managed by KKR, a leading global investment firm, in an all cash transaction valued at approximately $1.6 billion, including the assumption of debt.
In March 2023, Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services, have entered into an Electrolyzer Manufacturing Binding Agreement with McPhy Energy.
Types Covered:
• Standard Port
• Full Port
Applications Covered:
• Power Generation
• Water Treatment Industry
• Chemical and Petrochemical Industry
• Oil and Gas Industry
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Forged Steel Trunnion Mounted Ball Valve Market, By Type
5.1 Introduction
5.2 Standard Port
5.3 Full Port
6 Global Forged Steel Trunnion Mounted Ball Valve Market, By Application
6.1 Introduction
6.2 Power Generation
6.3 Water Treatment Industry
6.4 Chemical and Petrochemical Industry
6.5 Oil and Gas Industry
6.6 Other Applications
7 Global Forged Steel Trunnion Mounted Ball Valve Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Bray
9.2 L&T Valves Limited
9.3 Argus Machine
9.4 Velan Inc.
9.5 Cameron International
9.6 Powell Valves
9.7 Neway Valve
9.8 Flowserve Corporation
9.9 Circor International, Inc.
9.10 Kitz Corporation
9.11 Emerson Electric Co.
List of Tables
1 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Region (2021-2030) ($MN)
2 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Type (2021-2030) ($MN)
3 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Standard Port (2021-2030) ($MN)
4 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Full Port (2021-2030) ($MN)
5 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Application (2021-2030) ($MN)
6 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Power Generation (2021-2030) ($MN)
7 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Water Treatment Industry (2021-2030) ($MN)
8 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Chemical and Petrochemical Industry (2021-2030) ($MN)
9 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Oil and Gas Industry (2021-2030) ($MN)
10 Global Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Other Applications (2021-2030) ($MN)
11 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Country (2021-2030) ($MN)
12 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Type (2021-2030) ($MN)
13 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Standard Port (2021-2030) ($MN)
14 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Full Port (2021-2030) ($MN)
15 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Application (2021-2030) ($MN)
16 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Power Generation (2021-2030) ($MN)
17 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Water Treatment Industry (2021-2030) ($MN)
18 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Chemical and Petrochemical Industry (2021-2030) ($MN)
19 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Oil and Gas Industry (2021-2030) ($MN)
20 North America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Other Applications (2021-2030) ($MN)
21 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Country (2021-2030) ($MN)
22 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Type (2021-2030) ($MN)
23 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Standard Port (2021-2030) ($MN)
24 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Full Port (2021-2030) ($MN)
25 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Application (2021-2030) ($MN)
26 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Power Generation (2021-2030) ($MN)
27 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Water Treatment Industry (2021-2030) ($MN)
28 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Chemical and Petrochemical Industry (2021-2030) ($MN)
29 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Oil and Gas Industry (2021-2030) ($MN)
30 Europe Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Other Applications (2021-2030) ($MN)
31 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Country (2021-2030) ($MN)
32 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Type (2021-2030) ($MN)
33 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Standard Port (2021-2030) ($MN)
34 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Full Port (2021-2030) ($MN)
35 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Application (2021-2030) ($MN)
36 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Power Generation (2021-2030) ($MN)
37 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Water Treatment Industry (2021-2030) ($MN)
38 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Chemical and Petrochemical Industry (2021-2030) ($MN)
39 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Oil and Gas Industry (2021-2030) ($MN)
40 Asia Pacific Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Other Applications (2021-2030) ($MN)
41 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Country (2021-2030) ($MN)
42 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Type (2021-2030) ($MN)
43 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Standard Port (2021-2030) ($MN)
44 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Full Port (2021-2030) ($MN)
45 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Application (2021-2030) ($MN)
46 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Power Generation (2021-2030) ($MN)
47 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Water Treatment Industry (2021-2030) ($MN)
48 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Chemical and Petrochemical Industry (2021-2030) ($MN)
49 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Oil and Gas Industry (2021-2030) ($MN)
50 South America Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Other Applications (2021-2030) ($MN)
51 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Country (2021-2030) ($MN)
52 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Type (2021-2030) ($MN)
53 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Standard Port (2021-2030) ($MN)
54 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Full Port (2021-2030) ($MN)
55 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Application (2021-2030) ($MN)
56 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Power Generation (2021-2030) ($MN)
57 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Water Treatment Industry (2021-2030) ($MN)
58 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Chemical and Petrochemical Industry (2021-2030) ($MN)
59 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Oil and Gas Industry (2021-2030) ($MN)
60 Middle East & Africa Forged Steel Trunnion Mounted Ball Valve Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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