US Industrial Valves Market

US Industrial Valves Market
  • Report price : $ 4 700
  • Publication date : July 2009
  • Publisher : Freedonia

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US Industrial Valves Market

US demand to reach $15.2 billion in 2013



Industrial valve demand is forecast to increase less than one percent per year to $15.2 billion in 2013. Gains will not match those registered during the 2003 to 2008 period when rising raw material costs supported price increases, which in turn boosted value gains. Through 2013, unit prices are expected to decline in response to decreasing raw material costs and, in inflation adjusted terms, valve demand will actually strengthen through 2013. The US market for industrial valves will also be fueled by an acceleration in construction expenditures growth, and, in particular, a strong rebound in residential construction spending from the low levels of 2008.



Growth in industrial valve exports to lag imports



US industrial valve manufacturers face intense competition from overseas producers. Lower-end valves are increasingly being made in developing countries with low labor costs, and more highly engineered valves are manufactured in Western Europe and Japan. As a result, import growth is forecast to outpace that of exports through 2013, and the considerable US trade deficit in valves is expected to rise, albeit at a moderating pace. Canada and Mexico are important export markets for US valve manufacturers. Rapidly developing countries in Asia and Latin America will also provide good growth prospects, particularly in process manufacturing and utilities applications.



Construction market to post fastest annual gains



Process manufacturing industries and the utilities sector are the dominant markets for industrial valves because of their heavy fluid handling requirements. However, demand gains in these markets will be modest, as shipment increases in most process manufacturing industries are expected to moderate and utilities construction spending growth will not be as strong as during the 2003 to 2008 period. The fastest gains through 2013 will be posted in the construction market, with industrial valve sales expanding 2.4 percent per year. Growth in this area will be supported by acceleration in building construction expenditures, including an expected turnaround in residential building spending. In 2008, original equipment manufacturing applications accounted for more than two-thirds of total industrial valve demand and are expected to remain the dominant source of valve sales for the foreseeable future.



Standard industrial valves to outpace automatic types





Demand for standard valves is forecast to outpace that of automatic valves, because more buyers will opt to purchase the less expensive standard valves as nonresidential fixed investment slows, possibly upgrading them with separately sold actuators at a later date.



Steel, alloys to remain dominant valve material



Steel and steel alloys will remain the most commonly utilized valve construction materials due to their durability and strong performance in high temperature, high stress applications. Although valve performance will continue to be improved by advances in nontraditional materials (e.g., plastics, titanium and other metal alloys), steel and steel alloys will still make up nearly one-half of valve demand in 2013.



Study coverage



This new industry study, Industrial Valves, presents historical demand data (1998, 2003 and 2008) plus forecasts for 2013 and 2018 by product and market. The study also considers market environment factors, assesses the industry structure, evaluates company market shares and profiles more than 30 industry players.

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