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Global Ball Valves Market Report 2020-2025 with COVID-19 & Oil Price Crisis Impact Analysis - ResearchAndMarkets.com
December 16, 2020 GMT
DUBLIN (BUSINESS WIRE) Dec 16, 2020
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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for valves from healthcare and pharmaceuticals industries due to outbreak of COVID-19 pandemic, need for replacement of outdated ball valves and adoption of smart valves, rising focus on industrialization, urbanization, and smart city development, and rise in new nuclear power plants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.