World-wide demand for industrial valves will exceed USD 60 billion in 2007, according to a report published by the Freedonia Group, an independent industrial research firm based in Cleveland, Ohio, USA. This increase, equivalent to 5.5% per year, represents an improvement over the 1997-2002 period, reflecting accelerating macroeconomic growth in the developing regions of Asia, Latin America and Eastern Europe. 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 in the developing world.
Global demand for automatic valves will outpace that for conventional valves. The US, Germany, Japan and Italy together accounted for over half of global valve production in 2002. However, China is rapidly becoming a major player (and net exporter). Russia, France, the UK and Taiwan are also notable valve producers. Italy, Germany and Japan are the world’s largest net exporters of valves.