World industrial valve demand will increase 5.5% per year through 2007 (including price increases) to more than $60 billion, according to the study “World Valves” by The Freedonia Group, a Cleveland-based market research firm.
This represents an improvement over the previous five-year period 1997-2002, when worldwide valve growth was 4.4%, according to the firm. The increase reflects accelerating macroeconomic growth in the developing regions of Asia, Latin America and Eastern Europe. Freedonia sees improving economic fundamentals - especially fixed investment levels - as bolstering most valve consuming sectors and strengthening 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.