World industrial valve demand will exceed $60 billion by 2007, according to a new study conducted by the Freedonia Group Inc. The research house is forecasting that demand will increase 5.5% per year through 2007 due in large part to accelerated macroeconomic growth in the developing regions of Asia, Latin America, and Eastern Europe. Freedonia’s expectations for the valve market represent an improvement over the 1997–2002 timeframe, which yielded a growth rate of 4.4%. The study, titled World Valves, shows that improving economic fundamentals – especially fixed investment levels – will bolster most valve consuming sectors and strengthen underdeveloped infrastructures in these regions. As a result, Freedonia believes primary energy consumption will increase, creating opportunities for valve suppliers in the energy production sector in the developing world.
