Industry Overview - The global ball valve market is projected to reach approximately 206.53 billion yuan by 2024, driven by increased industrialization, demand in the oil and gas sector, and a surge in global infrastructure projects [7] - In China, the ball valve market is expected to reach around 29 billion yuan by 2024, reflecting rapid industrial development and urbanization [7][6] - The number of ball valve patents in China from 2016 to 2024 totals 59,993, with notable peaks in 2018, 2019, and 2021, indicating a strong focus on innovation in the sector [6][7] Ball Valve Characteristics - Ball valves are essential fluid control devices in modern industries, particularly in the chemical sector, due to their versatility and ease of operation [4][6] - They can be categorized based on their structure (e.g., floating, fixed, V-type, three-way) and functionality (e.g., high-pressure, low-temperature, sulfur-resistant) [2] Industry Development Status - The ball valve industry has matured over the past 30 years, with a growing emphasis on precision and complexity in industrial production [6] - The increasing complexity of pipeline systems in urban and industrial settings has heightened the importance of valves in fluid control [7] Competitive Landscape - Key players in the domestic ball valve market include Neway Valve, Zhongke Suvalve, Jiangsu Shentong, and others, with Neway Valve leading in terms of product range and revenue [12][15] - Neway Valve's product line includes various types of ball valves, with a production volume of 204,024 units in 2024 [16] Industry Trends - The ball valve industry is moving towards smart technology, with a focus on high precision and sensitivity in control valves, as well as high-pressure and large-diameter cut-off valves [20] - The demand for innovative and reliable ball valves is expected to grow, driven by the evolving industrial landscape and environmental considerations [20]