Researchandmarkets.com reports the latest Global Industrial Valve Market Growth, trends and forecasts, with a compound annual growth rate of 5.33% from 2019 to 2024.
The main growth was driven by rising demand in the power and chemical industries. Slower industrial growth in advanced economies will drag down growth in the global market.
The oil and gas sector led the growth in 2017 and will continue to grow during the reporting period, given the increased activity in the sector worldwide.
The demand for automotive valves is rising and 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
Rising demand in the power sector. In the power industry, valves are used in a variety of applications, such as boiler start-up, feed pump recirculation, steam regulation, and turbine bypass.
Valves in the condensate system are used to control and regulate the additional flow required by the fluid recirculation condensate pump. In addition, the valve is also used to control the water level of the deaerator of the feedwater heater.
In the drinking water system of the electric power industry, valves are used for recirculation of boiler feed pumps. At this point, the valve plays a key open-close and flow regulation.
In addition, in mainstream systems, valves are used for superheaters, turbine bypasses, superheater bypasses, etc. . The regulating valve is used to control the pressure.
In December 2017, the United States had 61 nuclear power plants and 99 nuclear reactors in operation. The government also plans to build more new reactors to boost nuclear power generation. Four new nuclear power plants are expected to open in the 2021.
In addition, the U. S. government is also focused on increasing the capacity of power plants across the United States, which has also driven demand for cooling water treatment chemicals. All these factors will stimulate the demand for valves in the power industry.
Leading Markets in the Asia Pacific
In 2017, the Asia Pacific region captured a major global market share. The use of industrial valves in the region is also increasing as economies such as China, India and Japan invest more in the oil and gas sector and demand for water treatment continues to rise.
High consumption of industrial valves in the oil and gas industry and increased production in downstream industries in the United States will further increase the production capacity of petrochemical products, thereby stimulating consumption of industrial valves in the country.
Chemical plants are another important industry in China. Many of the industry’s biggest companies have their own chemical plants in China. These companies have increased capacity, which in turn increases the consumption of industrial valves. Water treatment facilities for different industries are another important industry in China.
Demand for fuel has been boosted by increased sales of passenger cars, the use of Liquefied petroleum gas as a cooking fuel, increased urbanisation and increased demand for infrastructure and consumer goods This, in turn, has driven the increase in refining capacity.
These factors, together with government support, resulted in increasing consumer demand for industrial valves in the asia-pacific region during the reporting period.
So How Domestic Valve Enterprises Should Increase The Share Of The Industry?
First, Be Creative
With a sense of innovation, it will encourage enterprises to work hard and seize opportunities. Many enterprises of valve industry in Wenzhou and other areas also adopt the mode of family workshop. It is urgent to set up the modern management idea, including market consciousness, service consciousness, competition consciousness, crisis consciousness and so on. Valve market environment analysis, in the development of the market, including the establishment of publicity platform, the choice and launch of promotion media, the search for customers, the establishment of new customer relations, business communication and communication, new order generation, etc. Long-term planning and countermeasures are needed. The valve industry should also attach great importance to technological development and innovation, focusing on the formation of technological development and innovation development mechanism.
Second, Efforts To Open Up domestic And Foreign Valve Markets
Enterprises to open up domestic and foreign markets is a continuous self-improvement, development process, in fact, is also the process of Enterprise Development and growth. Analysis of the valve market environment, at this stage, relevant enterprises should be based on the actual situation to take a two-legged strategy, attention to international and domestic market development. Adopting this strategy of market development can reduce the operating risk to a certain extent, make the enterprise steady and steady, step by step, continuously expand the scope of the target market, which is of great benefit to the firm foundation of the enterprise.
Third, Strengthen Cost Control And Dissolve Competitive Pressure
The process of cost control is to use the principle of systems engineering to calculate, adjust and supervise all kinds of consumption in the production and operation of the valve enterprise. It is also a process of discovering the weak links and tapping the internal potential The process of finding all possible ways to reduce costs. The valve market environment analysis, regarding the domestic manufacture enterprise, must scientifically organize the implementation cost control, promotes the enterprise to improve the management, the transformation management mechanism, enhances the enterprise quality comprehensively, so that enterprises in the fierce market competition environment continue to develop and expand. Adjust the structure of production capacity, connotation expansion and development.
Valve market environment analysis, in the new round of technological and industrial revolution and industrial transformation, valve industry deep integration of the use of intelligent manufacturing important entry point, today, all countries are actively seize the commanding heights of the new round of development, the integration of Internet and traditional industry is the opportunity and commanding point that we should seize. Valve enterprises must seize this historic opportunity to realize the transformation of China’s valve manufacturing industry from a big production country to a strong production country.
Post time: Jul-28-2021