The two major influences on industrial valves, oil and gas and automotive, are experiencing a softening. The upstream market has seen a lower rig count year over year. The mid and downstream markets remain strong. Lead times for forged and cast steel have improved from last year.
- The producer price index for industrial valves was flat month-over-month at 234.6. However, the index was up 3.3% year-over-year.
- The global HVAC valves market was estimated to be US$ 4442.8 Mn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019-2027, accounting for US$ 6992.5 Mn by 2027.