According to Future Market Insights (FMI), between 2022 and 2032, the North America market for Residential Ball Valves will grow at a CAGR of 5.6%, reaching a valuation of US$ 554.1 Million in 2032.
USA and Canada are highly urbanized and more than 80% of the population of both countries live in urban areas, with expanding city and town areas the demand for residential complexes is growing. In 2022, it is anticipated that the USA construction industry would expand by 3.5 to 4.0%. Overall, the prediction anticipates that the residential construction industry will expand during the upcoming quarters, despite obstacles including supply chain snarls, rising building material costs, and other things that delay projects and drive up prices. The growing residential sector and demand from the existing apartments, townhouses, and villas will boost the residential ball valve market in North America.
| Attribute | Details |
|---|---|
| North America Residential Ball Valves Size (2021A) | US$ 306.0 Million |
| North America Residential Ball Valves Size (2022E) | US$ 321.2 Million |
| Projected Residential Ball Valves Market Value (2032F) | US$ 554.1 Million |
| Value CAGR (2022 to 2032) | 5.6 % |
The USA Congress projects that net immigration will be the main factor in the country's population growth from 335 million in 2022 to 369 million in 2052. The growing population calls for more residential infrastructure like apartments and condominiums, which in turn increases the demand for ball valves for residential applications.
Residential Ball Valves account for 18-22% of the global residential ball valves market on a value basis.
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According to historical data from 2017 to 2021, the market for Residential Ball Valves increased by volume at a CAGR of 1.7%. The estimated global market demand for these valves in 2022 is US$ 262.6 Million.
The increasing use of corrosion-resistant ball valves has resulted in a surge in sales of stainless steel ball valves. In addition to that, these valves further benefitted from the rise in no-lead brass prices after the no-lead laws started to get implemented in parts of North America.
Ball valves are preferred for applications that call for long-lasting, dependable on/off control due to their compact size, quick cycle times, and extended service lives. Since ball valves require so little movement and don't have a multi-turn rotating stem-like globe valve, they typically survive far longer and are less likely to corrode or sustain damage. Therefore, ball valves are rapidly replacing globe valves in residential applications.
In recent years, the housing market in the USA has experienced tremendous growth, primarily as a result of more time spent at home. The need for better and more useful amenities among interior designers, homeowners, and builders will result in the market for home remodeling materials expanding across the USA and Canada. The demand is still mostly driven by remolding, and rising remolding activity is expected to have a positive impact on the market in North America.
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Consumer attitudes regarding health and indoor lifestyles are changing, which has contributed to the increased popularity of gardening. Additionally, because of an increase in free time brought on by North American work-from-home culture, the COVID pandemic has spurred the home gardening culture. Due to their airtight sealing, simplicity of use, manual operation, and reliability, ball valves are anticipated to emerge as a popular option for many common household applications, including gardening, showers, and washing machines.
Also, aging residential infrastructure in the region is expected to require a ball valve as a replacement, which is set to provide additional lift to the market in the forecast period.
The image above showcases a plethora of factors that are associated with the North American residential ball valve market, which are likely to exhibit different thresholds of impact on each segment of the market.
The USA is expected to hold more than 80% of the North American market by 2032 and is estimated to grow with a CAGR of 5.4% through the forecast period.
According to the USA Department of Commerce, the number of housing units in the USA has been growing year after year. In 2020, there were approximately 141 million housing units and in 2021 it was 142 million units which was an increase of one million in the USA Also new building construction spending stood at US$ 784 Billion in 2021 and is expected to grow by more than US$ 100 Billion by 2022 end.
Residential construction remains the primary growth driver for the market and strong investment in the residential sector will optimistically impact the ball valves market in the country.
Canada is expected to gain 160 bps points between 2022 and 2032 and is set to create an absolute dollar opportunity worth more than US$ 51.1 Million during the same period.
The country is one of the fastest growing countries in terms of residential sector infrastructure within the North American region, part of which is due to the high rate of immigration population. Highest rates per population among any country in the world, Canada welcomes more than 3 lakh new immigrants each year. More than eight million immigrants had obtained permanent residence as of 2021, making up about 21.5 percent of the country's total population.
The residential construction spending in Canada is set to cross the US$ 160 Billion market by 2023. The growing population and expanding residential sector are estimated to create significant opportunities for the market in the forecast period.
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By End-Use, Apartments, and condominiums are expected to remain dominant over the forecast period. The segment is expected to account for more than 60% of the market by the end of the forecast period.
Both the USA and Canada are highly urbanized, with 83% and 82% of the population living in urbanized regions, respectively. This has resulted in space problems in urban areas, due to which apartments and condominiums are constructed on a large scale, and they come with the advantage that they are both economical and use space effectively. They use ball valves for various applications like plumbing, mains shutoff, and other applications.
By Material Type, Brass type Ball Valves are the most popular ball valves among all types. These valves accounted for more than 70% of market revenue in 2022.
One of the biggest benefits that Brass Ball Valves is that they are easy to use and install. The materials used to seal brass valves are also widely accessible due to the material's popularity. When sealing other types of metals, you often require a specific pipe tape and or thread sealant, whereas brass valve accessories are much more easily found.
Manufacturers in the market are continuously under pressure to develop cost-effective ball valve liquids with high durability. In this moderately concentrated market, a few companies-including ASC Engineered Solutions., Danfoss A/S, Apollo Valves, Parker Hannifin, Zurn Industries LLC, and Legend Valves account for a prominent share of the market share in the market.
Manufacturing businesses strategize to increase their presence in the market through the introduction of new products and increased collaboration.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value, Tons for Volume |
| Key Countries Covered | USA & Canada |
| Key Market Segments Covered | By Valve Material, By Valve Type, By Diameter, By End-Use, and By Countries |
| Key Companies Profiled | Danfoss A/S; ASC Engineered Solutions; Reliance Worldwide Corporation; Flomatic Valves; Parker Hannifin; Legend Valves; Zurn Industries, LLC; Apollo Valves; Watts Water Technologies Company |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, Drivers, Restraints, Opportunities and Threats analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The North America Residential Ball Valves are currently valued at US$ 321.2 Million (2022).
Residential Ball Valves sales are projected to soar between 2022 and 2032 at a value CAGR of about 5.6%.
Tier-1 companies include Danfoss A/S, Apollo Valves, Parker Hannifin, Zurn Industries LLC, and Legend Valves account for a prominent share of the market share for Residential Ball Valves
The Brass Valve segment has the largest share among the types of Valves in the worldwide Residential Ball Valves market, accounting for nearly 70.6% of the market by volume in 2022.
Apartments and Condominiums are estimated to account for about 63.4% of the total market share in 2022.
1. Executive Summary | North America Residential Ball Valves Market
1.1. North America Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Material Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
5.1. Historical Market Volume (000' Units) Analysis, 2017 to 2021
5.2. Current and Future Market Volume (000' Units) Projections, 2022 to 2032
5.3. Y-o-Y Growth Trend Analysis
6. Market - Pricing Analysis
6.1. Regional Pricing Analysis By Valve Type
6.2. North America Average Pricing Analysis Benchmark
7. Market Demand (in Value or Diameter in US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2021
7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. North America Real GDP Growth Outlook
8.1.2. New building construction spending in the USA 2017 to 2021, 2022F to 2024F
8.1.3. Number of housing units in the United States
8.1.4. USA Public Construction Sector Growth Outlook
8.1.5. Value of Construction in the USA
8.1.6. North America Urbanization Overview
8.2. Forecast Factors - Relevance & Impact
8.2.1. Construction Industry Forecast
8.2.2. Intensity of Competition
8.2.3. Investment in Research and Development
8.2.4. Increasing Urban and Rural Population
8.2.5. Raw Material Price And Availability Impact
8.2.6. Stringent Government Regulations
8.2.7. Manufacturing Activity Outlook
8.2.8. Home Remoulding Activities Outlook
8.2.9. Other Forecast Factors.
8.3. Value Chain
8.3.1. List of Manufacturers
8.3.2. List of Market Participants
8.4. COVID-19 Crisis – Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
9. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Valve Material
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) and Volume Analysis By Valve Material, 2017 to 2021
9.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Valve Material, 2022 to 2032
9.3.1. Brass
9.3.2. Stainless Steel
9.3.3. PVC
9.3.4. Glass Fiber-Reinforced Polypropylene Ball Valve
9.3.5. Others
9.4. Market Attractiveness Analysis By Valve Material
10. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Valve Type
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Million) and Volume Analysis By Valve Type, 2017 to 2021
10.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Valve Type, 2022 to 2032
10.3.1. Floating Ball Valves
10.3.2. Trunnion Ball Valves
10.3.3. Others
10.4. Market Attractiveness Analysis By Valve Type
11. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Diameter
11.1. Introduction / Key Findings
11.2. Historical Market Size Diameter (US$ Million) and Volume Analysis By Diameter, 2017 to 2021
11.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Diameter, 2022 to 2032
11.3.1. 3/8 “
11.3.2. 1/2“
11.3.3. 3/4“
11.3.4. 1”
11.3.5. 1 ¼”
11.3.6. Up to 2“
11.4. Market Attractiveness Analysis By Diameter
12. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-Use
12.1. Introduction / Key Findings
12.2. Historical Market Size (US$ Million) and Volume Analysis By End-Use, 2017 to 2021
12.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By End-Use, 2022 to 2032
12.3.1. Apartments and Condominiums
12.3.2. Townhouses
12.3.3. Villas
12.4. Market Attractiveness Analysis By End-Use
13. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
13.1. Introduction
13.2. Historical Market Size (US$ Million) and Volume Analysis by Region, 2017 to 2021
13.3. Current Market Size (US$ Million) and Volume Analysis and Forecast by Region, 2022 to 2032
13.3.1. USA
13.3.2. Canada
13.4. Market Attractiveness Analysis by Region
14. USA Ball Valves Market Analysis 2017 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Million) and Volume Trend Analysis by Market Taxonomy, 2017 to 2021
14.4. Market Size (US$ Million) and Volume Forecast by Market Taxonomy, 2022 to 2032
14.4.1. By Region
14.4.1.1. North East USA
14.4.1.2. South USA
14.4.1.3. Midwest USA
14.4.1.4. West USA
14.4.2. By Valve Material
14.4.3. By Valve Type
14.4.4. By Diameter
14.4.5. By End-Use
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Valve Material
14.5.3. By Valve Type
14.5.4. By Diameter
14.5.5. By End-Use
15. Canada Ball Valves Market Analysis 2017 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Million) and Volume Trend Analysis by Market Taxonomy, 2017 to 2021
15.4. Market Size (US$ Million) and Volume Forecast by Market Taxonomy, 2022 to 2032
15.4.1. By Valve Material
15.4.2. By Valve Type
15.4.3. By Diameter
15.4.4. By End-Use
15.5. Market Attractiveness Analysis
15.5.1. By Valve Material
15.5.2. By Valve Type
15.5.3. By Diameter
15.5.4. By End-Use
16. Market Structure Analysis
16.1. Market Analysis by Tier of Companies (Ball Valves)
16.2. Market Share Analysis of Top Players
16.3. Market Presence Analysis
17. Competition Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Competition Deep Dive
17.3.1. Danfoss A/S
17.3.1.1. Overview
17.3.1.2. Product Portfolio
17.3.1.3. Profitability by Market Segments (Product/Channel/Region)
17.3.1.4. Sales Footprint
17.3.1.5. Strategy Overview
17.3.2. ASC Engineered Solutions
17.3.2.1. Overview
17.3.2.2. Product Portfolio
17.3.2.3. Profitability by Market Segments (Product/Channel/Region)
17.3.2.4. Sales Footprint
17.3.2.5. Strategy Overview
17.3.3. Reliance Worldwide Corporation
17.3.3.1. Overview
17.3.3.2. Product Portfolio
17.3.3.3. Profitability by Market Segments (Product/Channel/Region)
17.3.3.4. Sales Footprint
17.3.3.5. Strategy Overview
17.3.4. Flomatic Valves
17.3.4.1. Overview
17.3.4.2. Product Portfolio
17.3.4.3. Profitability by Market Segments (Product/Channel/Region)
17.3.4.4. Sales Footprint
17.3.4.5. Strategy Overview
17.3.5. Parker Hannifin
17.3.5.1. Overview
17.3.5.2. Product Portfolio
17.3.5.3. Profitability by Market Segments (Product/Channel/Region)
17.3.5.4. Sales Footprint
17.3.5.5. Strategy Overview
17.3.6. Legend Valves
17.3.6.1. Overview
17.3.6.2. Product Portfolio
17.3.6.3. Profitability by Market Segments (Product/Channel/Region)
17.3.6.4. Sales Footprint
17.3.6.5. Strategy Overview
17.3.7. Zurn Industries, LLC
17.3.7.1. Overview
17.3.7.2. Product Portfolio
17.3.7.3. Profitability by Market Segments (Product/Channel/Region)
17.3.7.4. Sales Footprint
17.3.7.5. Strategy Overview
17.3.8. Apollo Valves
17.3.8.1. Overview
17.3.8.2. Product Portfolio
17.3.8.3. Profitability by Market Segments (Product/Channel/Region)
17.3.8.4. Sales Footprint
17.3.8.5. Strategy Overview
17.3.9. Watts Water Technologies Company
17.3.9.1. Overview
17.3.9.2. Product Portfolio
17.3.9.3. Profitability by Market Segments (Product/Channel/Region)
17.3.9.4. Sales Footprint
17.3.9.5. Strategy Overview
18. Assumptions and Acronyms Used
19. Research Methodology
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North America Residential Ball Valves Market
