A valve is a pressure pipeline component, which is a device used to change the pipeline cross-section and medium flow direction, control the pressure, flow rate, and temperature of the conveying medium. It has functions such as diversion, interception, regulation, prevention of backflow, diversion or overflow pressure relief, and is widely used in various major fields of the national economy. It is an important equipment in industries such as energy, petrochemical, metallurgy, and power, and is one of the key equipment in fixed assets such as machinery and pipelines.
Valves have a wide range of applications and a wide variety of classification methods. Overall, it can be divided into two categories:
——The market size has exceeded 70 billion US dollars
Due to the early emergence of the valve manufacturing industry and its relatively complete development in the global market, the growth rate in recent years has not been fast, with a compound growth rate of only 3.9% from 2015 to 2020. According to GIA data, the global valve manufacturing industry's market size in 2020 was 73.2 billion US dollars.
——The industry is undergoing overall transformation, expected to exceed $90 billion by 2026
As of now, the traditional valve manufacturing industry has already entered a mature stage, and the types of technologies used for valves are becoming increasingly perfect. However, in recent years, with the increasingly severe issues of energy conservation and emission reduction, green environmental protection, and the emergence of emerging technologies such as artificial intelligence, the valve industry has also begun to undergo an overall transformation of the industry, exploring directions such as intelligence, low-carbon, and customization.
In terms of development trends, with the overall innovation of the industry, leading enterprises are more receptive to market shocks brought about by transformation compared to small and medium-sized enterprises due to their high availability of resources and large volume. As technological changes gradually unfold, small and medium-sized enterprises that cannot follow technological changes will gradually be eliminated from the market, and the market share of leading enterprises will gradually increase. In addition, with the emergence of the new energy industry, the valve market targeting the new energy segmented market will gradually rise and integrate with the valve market of fossil fuels such as petroleum.
According to GIA data, it is expected that the global valve manufacturing industry's market size will exceed 90 billion US dollars, reaching around 92.3 billion US dollars by 2026. From 2021 to 2026, the five-year compound annual growth rate was 3.9%.
Overall, the traditional valve manufacturing industry has entered a mature stage of development and is undergoing overall transformation and transformation under the impact of the Fourth Industrial Revolution. In the short term, the overall development speed of the industry is relatively slow and the growth rate is not fast.
The above data is sourced from the "Analysis Report on Market Outlook and Investment Strategy Planning of China's Valve Manufacturing Industry" by the Prospective Industry Research Institute. At the same time, the Prospective Industry Research Institute also provides solutions such as industry big data, industry research, industry chain consulting, industry map, industry planning, park planning, industry investment attraction, IPO feasibility study, and prospectus writing.
