As basic components in general machinery, valve is used to regulate flow, pressure and direction of medium, realizing diversion, closure, regulation, orificing. 

 

Downstream industries of valve industry mainly include petroleum, gas, power, chemical industry, water, paper making, metallurgy, pharmacy, etc. Petroleum, gas, power and chemical industry is the most important application for valve industry. Development of downstream industries will increase fixed asset investment, promoting demands for valves to increase in further.

 

Statistics showed that total revenue of global valve industry was 53.261 billions USD increased by 3.8%. It is estimated that growth rate in global valve market reaches to 4.2%, 4.1% and 4.4% from 2013 to 2015, showing the trend of gradual increasing. 

 

For the demands in global valve market, petroleum including exploitation and transportation has the highest proportion, accounting for 30.03%. Water and power are the next, accounting for 14.07% and 13.28% respectively. Requirements for valves in petroleum, water and electricity account for 57.38% of total requirements in global valve market.