Over the next five years, demand for industrial valves in China will approach that of the US according to the recently-updated Industrial Valves: World Markets report from the McIlvaine Company.
Northfield, Illinois (The McIlvaine Company) – The world market for industrial valves will reach approximately $56 billion (USD) by 2012 according the McIlvaine Company online report Industrial Valves: World Market. Compared to 2007 estimates of $45 billion, this figure represents worldwide growth just short of 25% over the next five years.
With ongoing industrialization and infrastructure development, Asia has been exhibiting extremely high growth rates for industrial valve revenues. By 2012, the industrial valve market in Asia has been forecast to reach $21.6 billion compared to $16.3 million in 2007. This represents a growth rate of over 32% over the next five years. By contrast, 15% growth over the same time period has been forecast for the Americas where revenues are expected to grow from $14.2 billion in 2007 to $16.3 in 2012.
In terms of valve category, automatic regulation and control valves continue to comprise the largest dollar market share. Worldwide, automated valve sales have been forecast to reach $13.6 billion by 2012. The worldwide market for ball valves follows closely, with 2012 sales expected to reach $12.4 billion.
Regarding market trends, McIlvaine Company president Robert McIlvaine states, “The applications for industrial valves are many and varied. While all areas are growing steadily, we see several key industries and geographic markets as having the greatest growth potential.”
McIlvaine continues, “For example, China will be building infrastructure well into the next decade. That means the construction of power plants, municipal water and wastewater facilities, and desalination plants. Each of these plants will be equipped with valves, pumps, pipes, and a host of other equipment. Add to these applications those in the semiconductor and chemical industries and growth is inevitable.”
The McIlvaine Industrial Valves: World Markets report is available online, by subscription. It includes monthly updates, application overviews, and revenue forecasts through 2012. Revenue forecasts can be broken out by geography, valve category, and industry.