U.S. valve manufacturers expect a 0.6% increase in industrial valve shipments during 2004 over last year. Dollar volume is projected at $3.18 billion, a slight increase over last year's estimated $3.16 billion total. Data is in current dollars, so when adjusted for inflation there is little or no gain.

The Valve Manufacturers Association of America calculates the industry market share for industrial valves as follows:

Water & wastewater, 17.9%;

Chemical, 16.2%;

Petroleum production, 12.4%;

Petroleum refining, 11.4%;

Power generation, 11.0%;

Pulp & paper, 6.3%;

Oil & gas transmission, 5.7%;

Commercial construction, 5.3%;

Other (includes mining and textiles), 3.8%;

Food & beverage, 2.4%;

Gas distribution, 2.4%;

Co-generation, 1.8%;

Iron & steel, 1.8%;

Marine, 1.5%.