Demands for Valves in Developing Countries Growing Rapidly

Insiders said that the valve industry will be greatly impacted in the next few years. The impact will aggravate the polarization in valves' brand. It is predicted that in the next few years, there will be less valves manufacturers existing. However, the impact will bring more opportunities and make market operation more rational.

Global valve markets mainly concentrate in countries or zones having highly developed economy or industry. Based on data from McIlvaine, the most important 10 valve consumers in the world were China, the U.S., Japan, Russia, India, Germany, Brazil, Saudi Arabia, Korea and the United Kingdom. Among that, the top three industrial valve markets in China, the United States and Japan were $8.847 billion, $8.815 billion and $2.668 billion respectively. In terms of regional markets, East Asia, North America and West Europe were the three largest valves market around the world. Recent years, the demand for valves in developing countries, represented by China, and the Middle East is growing rapidly, replacing the EU and North America as the new engines of global valve industry growth. 

By 2015, market size of industrial valves in Brazil, Russia, India and China (BRIC) will reach to USD 1.789 billion, USD 2.767 billion, USD 2.860 billion and USD 10.938 billion, respectively, USD 18.354 billion in total, increasing by 23.25% compared with 2012. The total market size will account for 30.45% of global market size. As a traditional oil exporter, the Middle East also expands to the downstream industries of oil and gas through new-built oil refining programs, which drives large number of demands of the region for valve products.

The main reason for the rapid expansion of valve markets in developing countries is that the rapid economic growth in these countries promotes the development of downstream industries of valves such as oil and gas, electric power and chemical industry, further stimulating the demand for valves.