Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 416.4 million

Market Size (2029)

USD 576.03 million

CAGR (2024-2029)

5.4%

Fastest Growing Segment

Cast Iron

Largest Market

Southern Vietnam

Market Overview

Vietnam Ball Valves Market was valued at USD 416.4 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 5.4% through 2029F.

The Vietnam Ball Valves market is a vibrant and dynamic sector that serves as a critical component in numerous industries across the country. With the country's rapid economic growth, industrialization, and infrastructure development, the demand for ball valves has surged, driving significant growth in the market.

In terms of industry dynamics and the competitive landscape, the Vietnam Ball Valves market is characterized by intense competition among domestic and international manufacturers, distributors, and suppliers. Key players in the market compete based on various factors such as product quality, reliability, pricing, distribution networks, and customer service. Domestic manufacturers cater to local demand, while international players leverage their global presence and technical expertise to capture market share in Vietnam. The competitive landscape is further influenced by factors such as technological advancements, product innovation, and regulatory compliance requirements.

The Vietnam Ball Valves market serves a diverse range of end-user segments across various industries. Major end-user sectors include oil and gas, petrochemicals, water and wastewater treatment, power generation, chemicals, pharmaceuticals, pulp and paper, food and beverage, and HVAC (Heating, Ventilation, and Air Conditioning). Ball valves find applications in a wide array of processes, including flow control, shut-off, throttling, and pressure regulation, making them indispensable components in industrial fluid handling systems.

Several factors drive the growth of the Vietnam Ball Valves market, including infrastructure development projects, industrialization, urbanization, and increasing investments in key sectors such as oil and gas, petrochemicals, and water treatment. The expansion of manufacturing activities, rising demand for energy, and the need for efficient fluid control solutions further fuel market growth. Additionally, advancements in valve technology, such as the development of high-performance materials, enhanced sealing mechanisms, and digitalization, contribute to market expansion by improving product performance, reliability, and efficiency.

Regulatory compliance is a crucial aspect of the Vietnam Ball Valves market, with manufacturers and suppliers required to adhere to national and international standards governing product quality, safety, and performance. Compliance with standards such as API (American Petroleum Institute), ANSI (American National Standards Institute), ISO (International Organization for Standardization), and ASME (American Society of Mechanical Engineers) is essential to ensure product quality, reliability, and suitability for specific applications, thereby enhancing market acceptance and customer trust.

Key Market Drivers

Rapid Industrialization and Infrastructure Development:

A primary driver of the Vietnam Ball Valves market is the country's rapid industrialization and infrastructure development. Vietnam has experienced robust economic growth in recent years, driven by investments in manufacturing, construction, and energy sectors. This economic expansion has led to the construction of new industrial facilities, power plants, petrochemical complexes, and infrastructure projects, all of which require ball valves for fluid control and regulation. The increasing industrial activities and infrastructure development projects create substantial demand for ball valves, stimulating market growth.

The growing emphasis on infrastructure development, such as transportation networks, water treatment facilities, and energy infrastructure, further fuels the demand for ball valves in Vietnam. Ball valves are essential components used in pipelines, pumping stations, storage tanks, and other critical infrastructure assets, supporting various industries' operations and facilitating economic growth. As Vietnam continues to invest in infrastructure projects to modernize its economy and improve living standards, the demand for ball valves is expected to remain strong, driving market growth.

Expansion of Oil and Gas Industry:

The expansion of the oil and gas industry in Vietnam is a significant driver of the country's Ball Valves market. Vietnam possesses significant reserves of oil and natural gas, and the government has been actively promoting the exploration and development of these resources to enhance energy security and stimulate economic growth. The development of offshore oil and gas fields, onshore drilling operations, and refinery projects requires a wide range of valves, including ball valves, for various applications such as flow control, shut-off, and isolation.

The increasing exploration and production activities in Vietnam's oil and gas sector create substantial demand for ball valves used in upstream, midstream, and downstream operations. Ball valves are critical components in drilling rigs, production platforms, pipelines, and processing facilities, where they provide reliable performance in demanding offshore and onshore environments. As Vietnam continues to invest in its oil and gas infrastructure to exploit its hydrocarbon reserves, the demand for ball valves is expected to grow, driving market expansion.

Growth of Chemical and Petrochemical Industries:

The growth of the chemical and petrochemical industries in Vietnam is a key driver of the Ball Valves market. Vietnam's chemical and petrochemical sectors have experienced significant expansion in recent years, driven by increasing domestic demand, rising exports, and favorable investment policies. These industries encompass a wide range of activities, including refining, polymer production, fertilizer manufacturing, and specialty chemicals production, all of which require ball valves for process control and fluid handling.

Ball valves play a critical role in chemical and petrochemical plants, where they are used in various applications such as reactor systems, distillation columns, storage tanks, and transportation pipelines. The increasing demand for chemicals, plastics, and other petrochemical products in Vietnam and the Asia-Pacific region drives the need for reliable and efficient valve solutions. As the chemical and petrochemical industries continue to expand and modernize their facilities to meet growing demand, the demand for ball valves is expected to rise, supporting market growth.

Increasing Water and Wastewater Treatment Needs:

The increasing demand for water and wastewater treatment solutions in Vietnam is a significant driver of the Ball Valves market. Rapid urbanization, population growth, and industrialization have led to rising water consumption and wastewater generation, necessitating investments in water infrastructure and treatment facilities. Ball valves are essential components used in water treatment plants, pumping stations, distribution networks, and sewage treatment facilities for flow control, isolation, and regulation.

The government of Vietnam has prioritized investments in water infrastructure projects to improve access to clean water, mitigate water pollution, and address environmental challenges. These initiatives create significant opportunities for companies in the Ball Valves market to supply valves for water and wastewater treatment applications. Additionally, the growing awareness of environmental sustainability and water conservation drives the adoption of advanced valve technologies that enhance efficiency and reduce water loss in treatment processes. As Vietnam continues to invest in water infrastructure and environmental protection initiatives, the demand for ball valves is expected to increase, supporting market growth.

Technological Advancements and Product Innovation:

Technological advancements and product innovation are driving forces shaping the Vietnam Ball Valves market. Manufacturers are continuously innovating and introducing new valve technologies to enhance performance, reliability, and efficiency. Advanced materials, coatings, and sealing technologies improve valve durability, corrosion resistance, and operational lifespan, meeting the stringent requirements of diverse industries and applications.

Additionally, manufacturers are incorporating smart technologies such as actuators, sensors, and digital controls into ball valves to enable remote monitoring, diagnostics, and automation capabilities. Smart valves offer real-time data insights, predictive maintenance alerts, and energy-saving features, enhancing operational efficiency and reducing lifecycle costs for end-users. The adoption of digitalization and Industry 4.0 principles in valve design and manufacturing processes enables companies to optimize production, improve quality control, and meet customer demands for customized solutions.

Furthermore, product innovation drives differentiation and competitive advantage in the Ball Valves market, as companies develop unique features, designs, and functionalities to meet specific customer requirements. By investing in R&D activities, collaboration with technology partners, and customer-centric product development initiatives, manufacturers can stay ahead of market trends, capture new opportunities, and maintain leadership positions in the dynamic and evolving Vietnam Ball Valves market.



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Key Market Challenges

Intense Competition and Market Saturation:

The Vietnam Ball Valves market faces a significant challenge stemming from intense competition and market saturation. With numerous manufacturers, distributors, and suppliers vying for market share, businesses encounter pricing pressures and diminishing profit margins. The saturation of the market also makes it challenging for companies to differentiate their products and services effectively. As a result, businesses must continually innovate and offer unique value propositions to remain competitive.

To address this challenge, companies in the Vietnam Ball Valves market must focus on strategic differentiation strategies. This may involve investing in research and development to create innovative products with distinct features and functionalities. Additionally, companies can emphasize customer service, reliability, and brand reputation to set themselves apart from competitors. Collaborations with industry partners and leveraging digital marketing strategies can also help companies expand their reach and attract new customers in a crowded market landscape.

Price Volatility of Raw Materials:

Another significant challenge for the Vietnam Ball Valves market is the volatility of raw material prices. Ball valves are typically manufactured using materials such as stainless steel, carbon steel, and brass, the prices of which are subject to fluctuations in global commodity markets. These price fluctuations can impact production costs, profit margins, and pricing strategies, posing challenges for manufacturers and suppliers.

To mitigate the impact of raw material price volatility, companies in the Vietnam Ball Valves market can adopt several strategies. These may include hedging against price fluctuations through futures contracts or options, negotiating long-term supply agreements with reliable suppliers, and diversifying sourcing channels to reduce dependency on specific materials. Additionally, optimizing inventory management practices and implementing cost-saving measures can help companies navigate periods of price instability and maintain profitability.

Technological Advancements and Innovation:

The rapid pace of technological advancements presents a challenge for companies in the Vietnam Ball Valves market. As new technologies emerge and customer expectations evolve, companies must continually innovate to stay competitive. Failure to keep pace with technological advancements can lead to product obsolescence and loss of market share.

To address this challenge, companies must prioritize investments in research and development (R&D) to develop innovative products and solutions. Collaborations with technology partners, academia, and research institutions can also facilitate access to cutting-edge technologies and expertise. By embracing digitalization, automation, and Internet of Things (IoT) technologies, companies can enhance the performance, efficiency, and reliability of their ball valve products, thus maintaining their competitive edge in the market.

Stringent Regulatory Compliance Requirements:

Compliance with regulatory standards and certifications is a significant challenge for companies operating in the Vietnam Ball Valves market. Ball valves used in critical applications such as oil and gas, petrochemicals, and water treatment must meet stringent quality, safety, and performance standards mandated by regulatory bodies and industry associations. Ensuring compliance requires significant investments in testing, certification, and documentation processes, which can increase the time and cost of bringing products to market.

To overcome this challenge, companies must prioritize regulatory compliance and establish robust quality management systems. This includes investing in state-of-the-art testing facilities, conducting rigorous quality assurance processes, and obtaining necessary certifications and approvals. Collaborating with regulatory agencies and industry stakeholders can also help companies stay abreast of evolving regulatory requirements and ensure ongoing compliance with standards and regulations.

Supply Chain Disruptions and Logistics Challenges:

Supply chain disruptions and logistics challenges pose significant obstacles for companies in the Vietnam Ball Valves market. The global nature of the industry, combined with factors such as geopolitical tensions, natural disasters, and trade disputes, can disrupt the flow of raw materials, components, and finished products across the supply chain. Additionally, logistical constraints such as transportation bottlenecks, customs clearance delays, and port congestion can hinder the timely delivery of ball valve products to customers.

To address supply chain disruptions and logistics challenges, companies must adopt a proactive approach to supply chain management and risk mitigation. This may involve diversifying sourcing locations, maintaining strategic inventory buffers, and establishing contingency plans to mitigate the impact of unforeseen events on production and delivery schedules. Leveraging digital technologies such as supply chain visibility platforms, real-time tracking systems, and predictive analytics can also enhance the resilience and agility of the supply chain, enabling companies to respond effectively to disruptions and ensure continuity of operations.

Key Market Trends

Growing Adoption of Smart Valve Technologies:

One notable trend in the Vietnam Ball Valves market is the increasing adoption of smart valve technologies, driven by the industry's shift towards automation, digitization, and connectivity. Smart valve technologies integrate sensors, actuators, and communication capabilities to enable real-time monitoring, remote control, and predictive maintenance of ball valves. These advanced features offer significant benefits to industries in Vietnam, including improved operational efficiency, enhanced asset performance, and reduced downtime. By leveraging data analytics and predictive algorithms, smart ball valves can detect abnormal operating conditions, predict potential failures, and optimize valve performance, thereby minimizing risks and maximizing productivity. As industries in Vietnam continue to embrace Industry 4.0 initiatives and seek innovative solutions to optimize their processes, the demand for smart ball valves is expected to rise significantly.

Focus on Environmental Sustainability and Energy Efficiency:

Another key trend shaping the Vietnam Ball Valves market is the growing emphasis on environmental sustainability and energy efficiency. Industries across sectors are increasingly prioritizing sustainable practices and energy-efficient technologies to reduce carbon emissions, minimize environmental impact, and achieve regulatory compliance. Ball valves play a crucial role in controlling the flow of fluids and gases in industrial processes, making them integral components in efforts to optimize energy consumption and reduce waste. Manufacturers in Vietnam are responding to this trend by developing eco-friendly ball valve solutions that minimize leakage, improve energy efficiency, and support sustainable operations. Additionally, innovations such as low-emission sealing technologies and energy-efficient actuation systems are gaining traction in the market, offering further opportunities for industries in Vietnam to enhance their environmental performance while maintaining operational efficiency.

Rapid Urbanization and Infrastructure Development:

Focus on Quality and Reliability:

In an increasingly competitive market environment, there is a growing emphasis on quality and reliability among customers in Vietnam seeking ball valve solutions. Industries across sectors prioritize products that offer superior performance, durability, and reliability to ensure smooth and uninterrupted operations. Ball valves are critical components in industrial processes, where any failure or malfunction can lead to costly downtime, production losses, and safety risks. As a result, customers in Vietnam place a premium on ball valves that meet stringent quality standards, adhere to industry regulations, and demonstrate proven reliability in demanding operating conditions. Manufacturers and suppliers that prioritize quality control, product testing, and certification processes are well-positioned to succeed in the Vietnam Ball Valves market by offering high-quality, dependable solutions that meet customer expectations.

Shift towards Customization and Tailored Solutions:

Increasingly, customers in Vietnam are seeking customized and tailored solutions to meet their specific application requirements and operational challenges. Ball valves are used in diverse industrial processes, each with unique operating conditions, fluid characteristics, and performance criteria. As a result, there is a growing demand for ball valves that can be customized or configured to meet the exact needs of customers in terms of materials, sizes, pressure ratings, end connections, and other specifications. Manufacturers and suppliers that offer flexibility in product customization, engineering support, and technical expertise can differentiate themselves in the market and capture opportunities arising from this trend. By collaborating closely with customers to understand their needs and provide tailored solutions, companies can enhance customer satisfaction, build long-term relationships, and drive growth in the Vietnam Ball Valves market.

Segmental Insights

Type Insights

Floating ball valves is the dominating segment in the Vietnam Ball Valves market in 2023. Floating ball valves offer versatility and can be used in a wide range of applications across various industries. They are suitable for both low-pressure and high-pressure applications, making them adaptable to diverse operating conditions. This versatility appeals to industries such as oil and gas, petrochemicals, chemical processing, power generation, water treatment, and HVAC systems, where different pressure and temperature requirements exist.

Floating ball valves feature a relatively simple design with fewer moving parts compared to other valve types. This simplicity translates into ease of maintenance, reduced downtime, and lower operational costs for end-users in Vietnam. Maintenance tasks such as inspection, cleaning, and repairs can be performed efficiently, minimizing disruptions to production processes and ensuring continuous operations.

Floating ball valves offer a compelling value proposition in terms of cost-effectiveness and performance. They provide reliable shut-off and control capabilities at competitive price points, making them economically attractive for businesses in Vietnam. The combination of affordability, durability, and functionality makes floating ball valves a preferred choice for budget-conscious industries seeking high-quality solutions without compromising on performance.

Floating ball valves are available in a wide range of sizes, ranging from small diameters to large bore sizes, catering to diverse application requirements. Additionally, they can be constructed from various materials such as carbon steel, stainless steel, alloy steel, and exotic alloys, offering flexibility and customization options for different operating environments. This versatility in size and material selection enhances the applicability of floating ball valves across different industries in Vietnam.




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Regional Insights

Southern Vietnam has emerged as a dominant region in the Vietnam Ball Valves market because Southern Vietnam, particularly Ho Chi Minh City and its surrounding provinces, serves as a bustling industrial hub, hosting a diverse range of manufacturing facilities, chemical plants, oil refineries, and other industrial complexes. The concentration of industrial activity in this region drives substantial demand for ball valves, which are essential components used in various processes such as flow control, shut-off, and regulation of fluids and gases.

Southern Vietnam has experienced rapid economic growth and infrastructure development in recent years, fueled by investments in transportation, energy, and manufacturing sectors. This economic expansion has led to increased demand for infrastructure-related projects, including construction of pipelines, power plants, water treatment facilities, and petrochemical complexes, all of which require ball valves for fluid control and management.

Southern Vietnam boasts a significant presence of petrochemical and oil & gas industries, particularly in provinces such as Ba Ria-Vung Tau and Dong Nai. These industries play a crucial role in the region's economy, contributing to job creation, revenue generation, and industrial development. Ball valves are widely utilized in petrochemical and oil & gas facilities for applications such as pipeline transportation, refining processes, storage tanks, and offshore platforms, driving substantial demand for these products in the region.

The manufacturing sector in Southern Vietnam is experiencing robust growth, driven by factors such as favorable investment policies, skilled labor force, and strategic location within global supply chains. Manufacturers in industries such as automotive, electronics, textiles, and machinery require ball valves for various applications in their production processes, further bolstering demand for these products in the region.

Recent Developments

  • In February 2024, Valmet introduces the newest member of its X-series ball valve lineup, the Neles™ XH ball valve, for global release. This metal-seated ball valve is specifically engineered to excel in safety applications, high-cycle shut-off scenarios, and throttling services where there are significant pressure differentials. Targeted industries include chemical and petrochemical plants, oil and gas refining facilities, power plants, natural gas operations, hydrocarbon processing, polymer manufacturing, catalyst handling, high-temperature environments, and more.

Key Market Players

  • Mosack Group, Inc.
  • Valvitalia S.p.A.
  • Kitz Corporation
  • Curtiss-Wright Corporation
  • Alfa Laval Corporate AB
  • IMI Kynoch Limited
  • Velan Inc.
  • Schlumberger Limited
  • Crane Company
  • Emerson Electric Co.

By Type

By Size

 

 

By Material

 

 

By Vertical

 

By Region

  • Trunnion Mounted Ball Valves
  • Rising Stem Ball Valves
  • Floating Ball Valves
  • Up to 1”
  • 1”–6”
  • 6” to 25”
  • 25” to 50”
  • 50” and Above
  • Alloy
  • Cast Iron
  • Stainless Steel
  • Cryogenic
  • Others
  • Oil & Gas
  • Food & Beverage
  • Water & Wastewater
  • Energy & Power
  • Building & Construction
  • Others
  • Southern Vietnam
  • Northern Vietnam
  • Central Vietnam


Report Scope:

In this report, the Vietnam Ball Valves Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Vietnam Ball Valves Market, By Type:

o   Trunnion Mounted Ball Valves

o   Rising Stem Ball Valves

o   Floating Ball Valves

  • Vietnam Ball Valves Market, By Size:

o   Up to 1”

o   1”–6”

o   6” to 25”

o   25” to 50”

o   50” and Above

  • Vietnam Ball Valves Market, By Material:

o   Alloy

o   Cast Iron

o   Stainless Steel

o   Cryogenic

o   Others

  • Vietnam Ball Valves Market, By Vertical:

o   Oil & Gas

o   Food & Beverage

o   Water & Wastewater

o   Energy & Power

o   Building & Construction

o   Others

  • Vietnam Ball Valves Market, By Region:

o   Southern Vietnam

o   Northern Vietnam

o   Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam Ball Valves Market.

Available Customizations:

Vietnam Ball Valves Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Vietnam Ball Valves Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.         Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.         Research Methodology

2.1.    Objective of the Study

2.2.    Baseline Methodology

2.3.    Formulation of the Scope

2.4.    Assumptions and Limitations

2.5.    Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6.    Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.    Methodology Followed for Calculation of Market Size & Market Shares

2.8.    Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.         Executive Summary

4.         Impact of COVID-19 on Vietnam Ball Valves Market

5.         Voice of Customer

6.         Vietnam Ball Valves Market Overview

7.         Vietnam Ball Valves Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value

7.2.    Market Share & Forecast

7.2.1.By Type (Trunnion Mounted Ball Valves, Rising Stem Ball Valves, Floating Ball Valves)

7.2.2.By Size (Up to 1”, 1”–6”, 6” to 25”, 25” to 50”, 50” and Above)

7.2.3.By Material (Alloy, Cast Iron, Stainless Steel, Cryogenic, Others)

7.2.4.By Vertical (Oil & Gas, Food & Beverage, Water & Wastewater, Energy & Power, Building & Construction, Others)

7.2.5.By Region (Southern Vietnam, Northern Vietnam, Central Vietnam)

7.3.    By Company (2023)

7.4.    Market Map

8.         Southern Vietnam Ball Valves Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.By Type

8.2.2.By Size

8.2.3.By Material

8.2.4.By Vertical

9.         Northern Vietnam Ball Valves Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.By Type

9.2.2.By Size

9.2.3.By Material

9.2.4.By Vertical

10.      Central Vietnam Ball Valves Market Outlook

10.1. Market Size & Forecast

10.1.1.     By Value

10.2. Market Share & Forecast

10.2.1.   By Type

10.2.2.   By Size

10.2.3.   By Material

10.2.4.   By Vertical

11.      Market Dynamics

11.1. Drivers

11.2. Challenges

12.      Market Trends and Developments

13.      Vietnam Economic Profile

14.      Company Profiles

14.1.  Mosack Group, Inc.

14.1.1.    Business Overview

14.1.2.     Key Revenue and Financials  

14.1.3.     Recent Developments

14.1.4.     Key Personnel/Key Contact Person

14.1.5.     Key Product/Services Offered

14.2.  Valvitalia S.p.A.

14.2.1.    Business Overview

14.2.2.     Key Revenue and Financials  

14.2.3.     Recent Developments

14.2.4.     Key Personnel/Key Contact Person

14.2.5.     Key Product/Services Offered

14.3.  Kitz Corporation

14.3.1.    Business Overview

14.3.2.     Key Revenue and Financials  

14.3.3.     Recent Developments

14.3.4.     Key Personnel/Key Contact Person

14.3.5.     Key Product/Services Offered

14.4.  Curtiss-Wright Corporation

14.4.1.    Business Overview

14.4.2.     Key Revenue and Financials  

14.4.3.     Recent Developments

14.4.4.     Key Personnel/Key Contact Person

14.4.5.     Key Product/Services Offered

14.5.  Alfa Laval Corporate AB

14.5.1.    Business Overview

14.5.2.     Key Revenue and Financials  

14.5.3.     Recent Developments

14.5.4.     Key Personnel/Key Contact Person

14.5.5.     Key Product/Services Offered

14.6.  IMI Kynoch Limited

14.6.1.    Business Overview

14.6.2.     Key Revenue and Financials  

14.6.3.     Recent Developments

14.6.4.     Key Personnel/Key Contact Person

14.6.5.     Key Product/Services Offered

14.7.  Velan Inc.

14.7.1.    Business Overview

14.7.2.     Key Revenue and Financials  

14.7.3.     Recent Developments

14.7.4.     Key Personnel/Key Contact Person

14.7.5.     Key Product/Services Offered

14.8.  Schlumberger Limited

14.8.1.    Business Overview

14.8.2.     Key Revenue and Financials  

14.8.3.     Recent Developments

14.8.4.     Key Personnel/Key Contact Person

14.8.5.     Key Product/Services Offered

14.9.  Crane Company

14.9.1.    Business Overview

14.9.2.     Key Revenue and Financials  

14.9.3.     Recent Developments

14.9.4.     Key Personnel/Key Contact Person

14.9.5.     Key Product/Services Offered

14.10.   Emerson Electric Co.

14.10.1.  Business Overview

14.10.2.   Key Revenue and Financials  

14.10.3.   Recent Developments

14.10.4.   Key Personnel/Key Contact Person

14.10.5.   Key Product/Services Offered

15.      Strategic Recommendations

16.      About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The Vietnam Ball Valves Market is set for growth, driven by increasing demand from the healthcare and pharmaceutical industries, rapid industrialization, urbanization, and the development of smart cities. These factors are significantly boosting the market's demand in the forecast period.

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Mosack Group, Inc., Valvitalia S.p.A., Kitz Corporation, Curtiss-Wright Corporation, Alfa Laval Corporate AB, IMI Kynoch Limited, Velan Inc., Schlumberger Limited, Crane Company, Emerson Electric Co. are the leading market players in the Vietnam Ball Valves Market.

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Cast iron is projected to hold a significant market share based on material in the forecast period. Its excellent durability and strength make it ideal for applications requiring robust, long-lasting components. In industries like water and wastewater treatment, where ball valves face corrosive environments and high-pressure conditions, cast iron valves provide superior resistance to wear, erosion, and mechanical stress, ensuring reliable performance and extended service life.

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The market size of Vietnam Ball Valves Market in 2023 was USD 416.4 million.

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Srishti Verma

Business Consultant
Press Release

Vietnam Ball Valves Market is expected to grow at a robust CAGR of 5.4% through 2029

Jun, 2024

The increasing Vietnam Ball Valves Market is driven by rapid industrialization and infrastructure development, expansion of oil and gas industry, growth of chemical and petrochemical industries durin