Energy Demand will Promote Industrial Valve Market

Valve is one of the key equipment in fluid control system. At present, the main applications of valve include petroleum and gas, power, chemical engineering, water supply and sewage treatment, paper making and metallurgy. Among that, oil & gas, power and chemical industry are the most important applications of valve. According to the prediction from McIlvaine, the market forecaster, the demand for industrial valve will reach 100 billion dollars. The energy demand of developing countries is the main factor to promote the development of industrial valve market. It is estimated that from 2015 to 2017, the growth rate of the market scale of domestic industrial valve will maintain at about 7%, much higher than that of global industrial valve industry.

Valve is control component for fluid transmission system, having the functions of cut-off, adjustment, river diversion, countercurrent prevention, voltage stabilization, shunt or overflow and decompression. Valve is classified into industrial control valve and civilian valve. Industrial valve is used to control flow of media, pressure, temperature, fluid station and other technical parameters. 

Based on different standards, industrial valve can be classified into various types. According to the regulation form, the valve is divided into regulation type, cut-off type and combination of the first two types; in terms of materials of valve, Valves can be divided into non-metal valves, metal valves and metal lined valves; based on driving modes, industrial valve is classified into electric type, pneumatic type, hydraulic type and manual type; based on temperature, valve is classified into ultralow temperature valve, low temperature valve, normal temperature valve, medium temperature valve and high temperature valve; and according to nominal pressure, the valve can be classified into vacuum valve, low pressure valve, medium pressure valve, high pressure valve and ultra high pressure valve.

Chinese valve industry is originated from 1960's. Before 1980, China was lacking in the ability for designing valve having high parameters and high technical content so that it could only manufacture more than 600 categories and 2,700 dimensions of valve products. In order to meet the demand of the rapid development of industrial and agricultural production in China for valves with high parameters and high technology content, China began to use the idea of combining independent development and introduction of technology to develop valve technologies since 1980's. Some key valve enterprises enhance technology research and development, leading to an upsurge in the introduction of valve technology. At present, China has already manufactured gate valve, globe valve, throttle valve, ball valve, butterfly valve, diaphragm vale, plug valve, check valve, safety valve, reducing valve, drain valve and other valves, including 12 categories, more than 3,000 models and 40,000 dimensions.

According to the statistics of Valve World, in the global market demand for industrial valves, the oil & gas sector, including drilling, transportation and petrochemical, accounts for the highest proportion, reaching 37.40%, followed by the energy power and chemical industries, accounting for 21.30% and 11.50% of the global market demand for industrial valves, respectively, accounting for 70.20% of the total market demand. 

In the application field of domestic industrial valves, chemical industry, energy power and oil & gas industries are also the main markets for valve sales. Their demand for valve respectively accounts for 25.70%, 20.10% and 14.70% of the total demand for domestic industrial valves, accounting for 60.50% of the total market demand.

In terms of market demand, the demand for valve in water conservancy and hydropower, nuclear power and oil gas industry will maintain strong trend in the future.

In water conservancy and hydropower, strategy issued by General Office of the State Council points out that by 2020, capacity of conventional hydropower should reach about 350 million kilowatts, the growth of which will cause large demand for valve. Constant growth of investment on hydropower will stimulate prosperity of industrial valve.