Ball Valve Market Size, Share, Growth, Future Scope, Trends 2021-2027 – KSU
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$4 5 Billion Worldwide Safety Valves Industry to 2027 - Impact of COVID-19 on the Market
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$4 5 Billion Worldwide Safety Valves Industry to 2027 - Impact of COVID-19 on the Market
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The global ball valves market was valued at USD 8.1 billion in 2020 and is projected to reach USD 14.7 billion by 2025. It is expected to grow at a CAGR of 12.5% during the forecast period.
Increasing demand for valves from healthcare and pharmaceuticals industries due to outbreak of COVID-19 pandemic, need for replacement of outdated ball valves and adoption of smart valves, rising focus on industrialization, urbanization, and smart city development, and rise in new nuclear power plants projects and upgrade existing ones are the key driving factors for the ball valves market.
“Based on the size, ball valves sized 1″ to 6″ to account the largest share during 2020-2025”