According to the Freedonia Group, the world demand for industrial valves is forecast to increase 5.4% per year through 2009 (including price increases) to USD 66 billion. This represents an improvement over the 1999-2004 period, reflecting accelerating economic growth in much of the developing world. Improving economic fundamentals — especially fixed investment levels — will bolster most valve consuming sectors and strengthen underdeveloped infrastructures in these regions. As a result, primary energy consumption will increase, creating opportunities for valve suppliers in the key energy production sector. The valve markets in the USA, Japan and Western Europe will all register gains that
will lag the global average through 2009. However, all three will also see an improvement in their respective markets over the performance of the 1999-2004 period. Besides moderate gains in demand for valves driven by positive economic and fixed investment growth, stronger demand prospects for more expensive automated valves and actuators will also aid the overall valve markets in the USA, Japan and Western Europe.