Trunnion and Floating Ball Valves Market: Global Industry Analysis and Forecast (2024-2030)

  • Trunnion and Floating Ball Valves Market size was valued at USD 9.31 Bn. in 2023 and the total Trunnion and Floating Ball Valves Market size is expected to grow at a CAGR of 5.87% from 2024 to 2030, reaching nearly USD 13.88 Bn. by 2030.

  • Format : PDF | Report ID : SMR_2135

Trunnion and Floating Ball Valves Market Overview

A trunnion ball valve is a ball valve where the ball is held in place by supports, known as trunnions, at both the top and bottom. This design keeps the ball stable, allowing it to turn but not shift side to side.

 

Trunnions and floating ball valve sales have been driven by the increasing market for these products in several industries, including chemical, oil and gas, water and wastewater treatment, and power generation. Trunnions-mounted ball valves are extensively utilized in high-pressure and large-diameter pipe applications because of their durability and dependability, which have fueled the market's growth. Floating ball valves are ideal for controlling the flow of gases and liquids and are an affordable solution for less demanding applications, which has contributed to their market expansion.

 

The market's growth, which is also driven by the growing need for energy, which promotes increased oil and gas exploration and production, the growth of the chemical industry, and stronger environmental regulations, is driving the growing demand for advanced valve technologies because of their safety and efficiency. Market Leaders in the Trunnion and Floating Ball valves industry have been focused on new product developments, joint ventures, and partnerships to fortify their market positions and broaden their global reach. As long as industries maintain their high standards for efficiency and safety, there likely be a continued need for reliable, high-performing valve solutions, which has propelled the market forward.

Trunnion and Floating Ball Valves Market

 

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Trunnion and Floating Ball Valves Market Dynamics

Essential Components for High-Performance Industrial Systems

The need for essential parts of these systems are trunnion and floating ball valves, which are renowned for their dependability and performance in high-pressure and high-temperature settings has boosted the Trunnion and floating ball valves market growth. The trunnion and floating ball valves are more resilient and effective owing to advancements in materials and design, which have made them more appropriate for a variety of uses in the oil and gas industry, from upstream to downstream.

 

Effective systems for the transportation and storage of oil and gas have been increasingly important as industries grow and urbanization picks up speed resulting in higher demand for the trunnion and floating ball valves market. Additionally, the incorporation of automation and smart technologies into valve systems provides enhanced control, monitoring, and maintenance; the surge trend of industrial process digitization, which has stimulated market growth.

 

The rise in the higher preference for high-performance valves that guarantee long-term reliability and efficiency that has resulted from market leaders' increased focus on streamlining their operations and cutting costs has escalated the market growth. The trunnion and floating ball valves are widely used in the chemical, petrochemical, and power generation industries because of their strong sealing mechanisms, which enable them to meet these requirements.

Floating Ball and Trunnion Valve Market1

Challenges in the Floating Ball and Trunnion Valve Market

The surged prices for raw materials such as stainless steel and alloys have limited market growth, making it difficult for producers of floating ball and trunnion valves to maintain competitive pricing while ensuring the quality of their output. Raw material price fluctuations have created uncertainty and put pressure on profit margins. Market volatility is greatly impacted by the oil and gas industry's unpredictability. The rise in Geopolitical unrest, downward adjustments in oil prices, and decreased investments in oil and gas projects all have a direct effect on rumination and floating ball valve demand. Demand is unpredictable, making it challenging for manufacturers to forecast sales and efficiently manage inventories.

 

Geopolitical conflicts and world events have exacerbated the risky phenomenon of supply chain disruptions. Production schedules are delayed, lead times increase, and expenses rise as a result of delayed component and raw material deliveries. It is challenging but crucial in these uncertain times to maintain a robust and effective supply chain. There is fierce competition in the market from both established players and more recent entrants who are offering less expensive options. It becomes vital but challenging to differentiate products through quality and innovation in a market where consumers are still highly price-sensitive.

 

Trunnion and Floating Ball Valves Market Segment Analysis

Based on Material, the Stainless Steel segment dominated the market and is expected to maintain its dominance through the forecast period with an increasing CAGR. Stainless steel's exceptional resistance to rust and corrosion has led to its increased popularity. The market has grown because of these properties, which are particularly crucial in industries like petrochemicals, chemical processing, and oil and gas where valves are exposed to harsh environments. Thanks to the decreased need for replacements, stainless steel's long-term dependability in these circumstances has impeded market growth. Additionally, Stainless steel strength and endurance are well-suited for usage in high-pressure and high-temperature environments has boosted the trunnion and floating ball market.

 

Stainless steel helps to ensure the ruggedness of trunnion and floating ball valves, which are able to withstand high mechanical pressure levels without bending or shattering. These valves are widely utilized in challenging conditions owing to their ability to maintain their mechanical qualities at a range of temperatures, stainless steel has also been preferred for a variety of purposes. For instance, in industries like power generation and refining, where valve performance needs to be dependable in temperature fluctuations, this adaptability is particularly crucial. Valve fabrication and customization to suit specific application requirements has been made easy by the malleability of stainless steel. A wide range of valve sizes and designs has been produced by manufacturers to satisfy the diverse needs of various industries.

Trunnion and Floating Ball Valves Market2

Trunnion and Floating Ball Valves Market Regional Analysis

Asia Pacific dominated the market and is expected to maintain its dominance through the forecast period with an increasing CAGR. The Asia Pacific region leads the world in both the trunnion and floating ball valve markets because of its quick industrialization, extensive infrastructure projects, growing energy consumption, and friendly regulatory and investment environments. Owing to the notable expansion of their industrial sectors, nations such as China and India are in great demand for chemicals, natural gas, and electricity generation. Turnbuckle and floating ball valves are in high demand in these industries because their safe and effective operations largely rely on dependable valve systems.

 

The region's massive infrastructure projects, which have included constructing pipelines, refineries, and chemical plants, have resulted in a high demand for premium trunnion and floating ball valves. The Belt and Road Initiative, which was initiated by China and has boosted global trade and encouraged economic growth in the Asia Pacific region, has resulted in significant infrastructure investments that have raised demand for trunnion and floating ball valves. The market's dominance in the Asia Pacific area is also attributed to India's increasing energy requirements.

 

Dependable valve solutions are in high demand because of the Indian government's focus on improving its capabilities in the fields of oil and gas production and exploration, as well as power generation infrastructure modernization. Projects like the Pradhan Mantri Urja Ganga project serve as evidence that trunnion and floating ball valves are crucial for the efficient and safe transportation of gas.

 

  • India exports most of its Trunnion ball valve and HSN Code 8481 to the United States, United Kingdom, and United Arab Emirates and is the largest exporter of Trunnion ball valve and HSN Code 8481 in the World.
  • The top 3 exporters of Trunnion ball valve and HSN Code 8481 are India with 5,244 shipments followed by China with 1,894 and Italy at the 3rd spot with 699 shipments.

Trunnion and Floating Ball Valves Market3

Trunnion and Floating Ball Valves Market Competitive Landscape

  • In May 2024, IMI launched its first control valve for urea plants, which is set to be installed at one of the major fertilizer plants in the MEA region. The newly designed urea valve draws on IMI’s extensive expertise in designing, installing, and maintaining valves in power plants and oil and gas refineries, as well as extensive engagement with the industry. The valve is a product of IMI’s Growth Hub innovation engine, which aims to accelerate the development of new products in collaboration with customers.
  • In Nov 2023, Emerson announced its innovative new Fisher Whisper Trim Technology for use in both rotary and globe valves, providing an extension to Emerson’s current portfolio of Whisper noise solutions. This next generation of Fisher Whisper Trim technology addresses noise issues by using additive manufacturing and other advanced techniques to create trim designs with increased capabilities. Control valve noise is often problematic in industrial applications. It is created by high-pressure drops across a valve, which generate high velocities as the fluid moves through the narrowed passages in the valve body.

Trunnion and Floating Ball Valves  Market

Market Size in 2023

USD 9.31 Bn.

Market Size in 2030

USD 13.88 Bn.

CAGR (2024-2030)

5.87 %

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

   Segments

By Material

  • Cast Iron
  • Stainless Steel
  • Alloy Based
  • Others

By End User

  • Oil & Gas
  • Energy & Power
  • Water & Wastewater Treatment
  • Chemicals
  • Others

Regional Scope

North America- United States, Canada, and Mexico

Europe – United Kingdom, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Trunnion and Floating Ball Valves Market Key Players

  1. Emerson Electric Co.
  2. Flowserve Corporation
  3. Velan Inc.
  4. Crane Co.
  5. IMI plc
  6. Metso Corporation
  7. Schlumberger
  8. Kitz Corporation
  9. Bray International, Inc.
  10. Bonney Forge
  11. Valvitalia
  12. Neway Valve
  13. Aalberts
  14. ITT
  15. Ari-Armaturen
  16. CIRCOR International
  17. Haitima Corporation
  18. Böhmer GmbH
  19. FluoroSeal Inc.
  20. Valmet
  21. Oliver Valves Ltd.
  22. Samson AG
  23. XX. Inc.


Frequently Asked Questions

The rise in the popularity of raw materials is expected to be the major driver of the market.

1.    Trunnion and Floating Ball Valves Market: Research Methodology 
2.    Trunnion and Floating Ball Valves Market: Executive Summary
3.    Trunnion and Floating Ball Valves Market: Competitive Landscape

3.1. Stellar Competition Matrix
3.2. Competitive Landscape
3.3. Key Players Benchmarking
3.4. Market Structure
3.4.1.    Market Leaders 
3.4.2.    Market Followers
3.4.3.    Emerging Players

3.5. Consolidation of the Market
4.    Trunnion and Floating Ball Valves Market: Dynamics
4.1. Market Trends 
4.2. Market Drivers 
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Challenges
4.6. PORTER’s Five Forces Analysis
4.7. PESTLE Analysis
4.8. Strategies for New Entrants to Penetrate the Market
4.9. Regulatory Landscape by Region
4.9.1.    North America
4.9.2.    Europe
4.9.3.    Asia Pacific
4.9.4.    Middle East and Africa
4.9.5.    South America

4.10. Trunnion and Floating Ball Valves Market Size and Forecast by Segments (by Value USD Million)
4.10.1.    Trunnion and Floating Ball Valves Market Size and Forecast, by Material (2023-2030)
4.10.1.1.    Cast Iron
4.10.1.2.    Stainless Steel
4.10.1.3.    Alloy Based
4.10.1.4.    Others
4.10.2.    Trunnion and Floating Ball Valves Market Size and Forecast, by End User (2023-2030)
4.10.2.1.    Oil & Gas
4.10.2.2.    Energy & Power 
4.10.2.3.    Water & Wastewater Treatment
4.10.2.4.    Chemicals
4.10.2.5.    Others
4.10.3.    Trunnion and Floating Ball Valves Market Size and Forecast, by Region (2023-2030)
4.10.3.1.    North America
4.10.3.2.    Europe
4.10.3.3.    Asia Pacific
4.10.3.4.    Middle East and Africa
4.10.3.5.    South America

5.    North America Trunnion and Floating Ball Valves Market Size and Forecast (by Value USD Million)
5.1. North America Trunnion and Floating Ball Valves Market Size and Forecast, by Material (2023-2030)
5.1.1.    Cast Iron
5.1.2.    Stainless Steel
5.1.3.    Alloy Based
5.1.4.    Others 

5.2. North America Trunnion and Floating Ball Valves Market Size and Forecast, by End User (2023-2030)
5.2.1.    Oil & Gas
5.2.2.    Energy & Power 
5.2.3.    Water & Wastewater Treatment
5.2.4.    Chemicals
5.2.5.    Others

5.3. North America Trunnion and Floating Ball Valves Market Size and Forecast, by Country (2023-2030)
5.3.1.    United States
5.3.2.    Canada
5.3.3.    Mexico

6.    Europe Trunnion and Floating Ball Valves Market Size and Forecast (by Value USD Million)
6.1. Europe Trunnion and Floating Ball Valves Market Size and Forecast, by Material (2023-2030)
6.1.1.    Cast Iron
6.1.2.    Stainless Steel
6.1.3.    Alloy Based
6.1.4.    Others 

6.2. Europe Trunnion and Floating Ball Valves Market Size and Forecast, by End User (2023-2030)
6.2.1.    Oil & Gas
6.2.2.    Energy & Power 
6.2.3.    Water & Wastewater Treatment
6.2.4.    Chemicals
6.2.5.    Others

6.3. Europe Trunnion and Floating Ball Valves Market Size and Forecast, by Country (2023-2030)
6.3.1.    UK
6.3.2.    France
6.3.3.    Germany
6.3.4.    Italy
6.3.5.    Spain
6.3.6.    Sweden
6.3.7.    Russia
6.3.8.    Rest of Europe

7.    Asia Pacific Trunnion and Floating Ball Valves Market Size and Forecast (by Value USD Million)
7.1. Asia Pacific Trunnion and Floating Ball Valves Market Size and Forecast, by Material (2023-2030)
7.1.1.    Cast Iron
7.1.2.    Stainless Steel
7.1.3.    Alloy Based
7.1.4.    Others

7.2. Asia Pacific Trunnion and Floating Ball Valves Market Size and Forecast, by End User (2023-2030)
7.2.1.    Oil & Gas
7.2.2.    Energy & Power 
7.2.3.    Water & Wastewater Treatment
7.2.4.    Chemicals
7.2.5.    Others

7.3. Asia Pacific Trunnion and Floating Ball Valves Market Size and Forecast, by Country (2023-2030)
7.3.1.    China
7.3.2.    S Korea
7.3.3.    Japan
7.3.4.    India
7.3.5.    Australia
7.3.6.    ASEAN
7.3.7.    Rest of Asia Pacific

8.    Middle East and Africa Trunnion and Floating Ball Valves Market Size and Forecast (by Value USD Million)
8.1. Middle East and Africa Trunnion and Floating Ball Valves Market Size and Forecast, by Material (2023-2030)
8.1.1.    Cast Iron
8.1.2.    Stainless Steel
8.1.3.    Alloy Based
8.1.4.    Others

8.2. Middle East and Africa Trunnion and Floating Ball Valves Market Size and Forecast, by End User (2023-2030)
8.2.1.    Oil & Gas
8.2.2.    Energy & Power 
8.2.3.    Water & Wastewater Treatment
8.2.4.    Chemicals
8.2.5.    Others

8.3. Middle East and Africa Trunnion and Floating Ball Valves Market Size and Forecast, by Country (2023-2030)
8.3.1.    South Africa
8.3.2.    GCC
8.3.3.    Egypt
8.3.4.    Rest of ME&A

9.    South America Trunnion and Floating Ball Valves Market Size and Forecast (by Value USD Million)
9.1. South America Trunnion and Floating Ball Valves Market Size and Forecast, by Material (2023-2030)
9.1.1.    Cast Iron
9.1.2.    Stainless Steel
9.1.3.    Alloy Based
9.1.4.    Others

9.2. South America Trunnion and Floating Ball Valves Market Size and Forecast, by End User (2023-2030)
9.2.1.    Oil & Gas
9.2.2.    Energy & Power 
9.2.3.    Water & Wastewater Treatment
9.2.4.    Chemicals
9.2.5.    Others

9.3. South America Trunnion and Floating Ball Valves Market Size and Forecast, by Country (2023-2030)
9.3.1.    Brazil
9.3.2.    Argentina
9.3.3.    Rest of South America

10.    Company Profile: Key players
10.1. Emerson Electric Co. 
10.1.1.    Company Overview
10.1.2.    Financial Overview
10.1.3.    Business Portfolio
10.1.4.    SWOT Analysis
10.1.5.    Business Strategy 
10.1.6.    Recent Developments

10.2. Flowserve Corporation 
10.3. Velan Inc. 
10.4. Crane Co. 
10.5. IMI plc 
10.6. Metso Corporation 
10.7. Schlumberger
10.8. Kitz Corporation 
10.9. Bray International, Inc. 
10.10. Bonney Forge 
10.11. Valvitalia 
10.12. Neway Valve 
10.13. Aalberts 
10.14. ITT 
10.15. Ari-Armaturen 
10.16. CIRCOR International 
10.17. Haitima Corporation 
10.18. Böhmer GmbH 
10.19. FluoroSeal Inc. 
10.20. Valmet
10.21. Oliver Valves Ltd. 
10.22. Samson AG 
11.    Key Findings
12.    Industry Recommendation

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