Industrial Valve Market Will Top $53 Billion in 2012
Sales of industrial valves will exceed $53 billion in 2012 according to the latest updates in the McIlvaine report titled Industrial Valves: World Markets.
The oil and gas sector will be the largest purchaser with expenditures of $8.7 billion.
The power industry will be the second largest purchaser with purchases exceeding $7.2 billion. The bulk of this expenditure will be for coal-fired power plants. Gas turbine and nuclear power plant operators will also be major purchasers. Operators of solar, wind, geothermal and hydropower plants will not be significant purchasers.
Special materials are required for the chemical, food, and pharmaceutical industries due to sanitary or corrosion concerns. Mining, iron and steel and wastewater include many applications where abrasion resistance is a requirement.
Municipalities will spend $7.6 billion for valves for water and wastewater treatment plants. Much of this investment will be made in Asia where the infrastructure needs are severe. Asia will also be the leading purchaser of valves for power and electronics.
The Middle East is a fast growing region relative to valves for refining. It has special needs for combination desalination and power plants as well.