A resurging world economy will help boost sales of industrial valves from just under $40 billion in 2004 to $46 billion in 2008. This forecast was just issued in the McIlvaine online and continually updated Valves: World Markets. Sales of automatic regulatory and control valves in 2008 will exceed $11 billion. Sales in billions of dollars for other valve types in 2008 will be as follows: ball $10.5, butterfly $4.8, gate and globe $8.l, plug $4.2, and other $8.2.
The U.S. will remain the world’s leading purchaser of all valve types. However, China is closing the gap. Rapid growth in the power, chemical, and wastewater sectors are major growth factors. By 2007 sales of regulatory and control valves in China will be double those in Japan and 60 percent as large as in the U.S. Purchases for the top countries of automatic regulatory and control valves in 2007 will be:
Subject: Auto Reg. & Control Valves
($ Millions)
Country 2007
U.S. 2,238
China 1,328
Japan 630
Russia 472
Germany 440
Canada 380
U.K. 304
India 302
Brazil 285
France 270
S. Korea 266
Italy 227
Mexico 219
Saudi Arabia 195
Australia 159
The oil and gas industry will continue as the sector leader with valve purchases exceeding $8 billion in 2007. The refinery industry will be the 2nd largest sector followed by power and chemicals. Wastewater will be the 5th largest sector with purchases exceeding $3.5 billion.
The valve industry will continue to be populated with more than five thousand manufacturers. Consolidations in the west will be balanced by new entries in Asia. The top 15 global companies will only command a market share of 20 percent. However, the trend toward merger of valve, pump, and filtration companies will lead to the participation of more diversified companies in the valve market.
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Bob McIlvaine
847-784-0012