Rising demand for automotive valves is expected to bring new opportunities to the valve Market
International Pump Valve Technology Business Report analyzed the main reasons for the growth and the growth prospects of various regions and industries.
According to the report, the main driver of growth in this market in the next five years is rising demand in the power and chemical industries. Slow industrial growth in developed economies will drag down the development of this global market.
The oil and gas industry dominated the growth in 2017. In view of the increase of global activities in the oil and gas industry, the industry will continue to increase the demand for automotive valves during the reporting period, and it is expected to bring new opportunities to the valve market in the future.
The Asia-Pacific region will be the fastest growing market in the world, with China and India in particular becoming major consumer economies.
Major market trends
Demand for electricity industry is rising. In the power industry, valves are used in various occasions, such as boiler start-up, feed pump recirculation, steam regulation and steam turbine bypass.
Valves in condensate systems are used to control and regulate the additional flow required for fluid recirculation condensate pumps. In addition, the valve is also used to control the water level of the deaerator of the feed water heater.
In the drinking water system of power industry, valves are used for boiler feed pump recirculation. At this time, the valve plays a key role in opening-closing and flow regulation.
In mainstream systems, valves are used for superheaters, turbine bypass, superheater bypass, etc. Regulating valves are used to control pressure.
In December 2017, 61 nuclear power plants and 99 nuclear reactors were put into operation in the United States. The government also plans to build more new reactors to increase nuclear power generation. Four new nuclear power plants are expected to be operational in the United States in 2021.
In addition, the U.S. government has also focused on increasing the capacity of power plants across the United States, which has also boosted demand for chemicals for cooling water treatment. These factors will stimulate the demand for valves in the power industry.
Asia-Pacific Leading Market
In 2017, the Asia-Pacific region occupied a major global market share. With the increase of investment activities in oil and gas industries and the increasing demand for water treatment in China, India and Japan, the use of industrial valves in the region is also increasing.
The high consumption of industrial valves in the U.S. petroleum and natural gas industries and the increasing production in the downstream industries will further enhance the production capacity of petrochemical products, thus stimulating the consumption of industrial valves in the country.
Chemical plants are another important industry in China. Many large enterprises in this industry have their own chemical plants in China. These companies have increased production capacity, thereby increasing the consumption of industrial valves. Water treatment facilities for different industries are another important industry in China.
The increase in passenger car sales, the substitution of liquefied petroleum gas (LPG) as cooking fuel, the increase in urbanization and the demand for infrastructure and consumer goods have stimulated the demand for fuel, thus promoting the increase in refining capacity.
These factors, together with government support, have led to increasing demand for industrial valves in the Asia-Pacific region during the reporting period.
The global industrial valve market is highly decentralized, with the top 10 participants accounting for 15% of the total market share. Major companies include Schlumberger Limited (formerly Cameron International), Emerson Electric Company, Fox Company, IMI PLC and Crane, as well as Afalava, Honeywell, St. Gobain, Will Group, Salemer, Duan and so on.