Industrial Valves

As Quoted In Investorideas

Valve manufacturers will benefit from renewed strength in key industries that utilize valves, including process manufacturing, public utilities, resource industries, and construction.

US demand to rise 4.9% annually through 2018

Demand for industrial valves in the US is forecast to increase 4.9 percent per year to $19.8 billion in 2018, a considerable improvement from the performance registered during the 2008-2013 period. Valves are relatively mature products, and although design innovation and material developments provide some impetus for growth, sales levels in any given year are primarily determined by the performance of the industries that utilize these valves. During the 2008-2013 timeframe, end-use markets for valves were negatively impacted by the recession, posting below average growth or declines. Through 2018, valve manufacturers will benefit from renewed strength in the industries that utilize these products.

Construction market to grow the fastest

The construction market will post the strongest increases in valve demand, as both residential and nonresidential construction spending increase at double-digit growth rates, rebounding from the declines recorded during the 2008-2013 period. Utilities construction will also recover, bolstering the large associated valve market. In addition, US oil and gas production will continue to increase, driving sales of the often high-value valves utilized in these applications (custom engineered valves for use in large-diameter oil pipelines can cost upwards of $100,000). However, process manufacturing will remain the largest end-use market for valves. Gains in this market will be supported by growth in manufacturing output, particularly in the valve-intensive chemical industry.

Automatic valves to outpace standard types

Demand for automatic valves is forecast to outpace increases in standard valve sales, as a result of efforts by consumers to improve operational efficiencies. Furthermore, the positive outlook for most valve-using industries will lead companies to opt for automatic products in applications where they may have purchased standard valves in weaker economies. Automatic regulator valves will post the strongest gains of any product, as a result of their widespread use in chemical, oil and gas, and utility applications.

Valve imports to accelerate

Shipments of industrial valves from US manufacturers are forecast to slightly outpace domestic demand through 2018. As US valve demand grows, import gains will accelerate from the 2008-2013 period and the US trade deficit will expand. Moreover, in order to remain competitive with foreign companies, a number of US valve producers have established offshore manufacturing facilities in countries with lower labor costs, which will limit export opportunities.

Study coverage

This Freedonia industry study analyzes the $15.6 billion US industrial valve industry. It presents historical demand data (2003, 2008 and 2013) and forecasts (2018 and 2023) by material (e.g., steel and steel alloys, copper-based, iron, plastic), product (e.g., multiturn, quarterturn, application-specific, safety and relief, control, regulator, automatic actuators), and market (e.g., process manufacturing, utilities, resource extraction, construction). The study also considers market environment factors, details industry structure, evaluates company market share, and profiles 34 industry players, including Emerson Electric, Cameron International, and General Electric.

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  1. Industrial Valves

    $5,200.00

    1. 1 INTRODUCTION

      $161.00

    2. 2 EXECUTIVE SUMMARY

      $138.00

      1. Table | INDUSTRIAL VALVE SUPPLY & DEMAND

    3. 3 MARKET ENVIRONMENT

      $2,052.00

      1. 3.1 General

        $82.00

      2. 3.2 Macroeconomic Overview

        $279.00

        1. Table | MACROECONOMIC ENVIRONMENT

      3. 3.3 Nonresidential Fixed Investment Trends

        $156.00

        1. Table | NONRESIDENTIAL FIXED INVESTMENT

      4. 3.4 Manufacturing Outlook

        $1,208.00

        1. Table | MANUFACTURERS' SHIPMENTS

        2. 3.4.1 Chemical Industry Overview

          $182.00

          1. Table | CHEMICAL SHIPMENTS

        3. 3.4.2 Petroleum Refining Industry Overview

          $82.00

          1. Table | REFINED PETROLEUM DEMAND

        4. 3.4.3 Pulp & Paper Industry Overview

          $175.00

          1. Table | PAPER & PAPERBOARD PRODUCTION

        5. 3.4.4 Utilities Outlook

          $525.00

          1. Table | UTILITIES CONSTRUCTION EXPENDITURES

          2. Table | WATER WITHDRAWAL TRENDS

          3. Table | ELECTRICITY GENERATION

          4. Table | NATURAL GAS UTILITY INDICATORS

      5. 3.5 Resource Extraction Outlook

        $199.00

        1. 3.5.1 Crude Oil & Natural Gas Overview

          $128.00

          1. Table | CRUDE OIL & NATURAL GAS SUPPLY & DEMAND

        2. 3.5.2 Mining Industry Overview

          $82.00

          1. Table | MINING MATERIALS HANDLED

      6. 3.6 Construction Industry Overview

        $159.00

        1. Table | CONSTRUCTION EXPENDITURES

    4. 4 VALVE OVERVIEW

      $1,549.00

      1. 4.1 General

        $82.00

      2. 4.2 Supply & Demand

        $667.00

        1. Table | INDUSTRIAL VALVE SUPPLY & DEMAND

        2. CHART III-1 INDUSTRIAL VALVE DEMAND BY TYPE, 2003-2023

        3. 4.2.1 Valve Demand by Type

          $82.00

        4. 4.2.2 Valve Demand by Material

          $554.00

          1. Table | INDUSTRIAL VALVE DEMAND BY PRIMARY MATERIAL

          2. CHART III-2 INDUSTRIAL VALVE DEMAND BY PRIMARY MATERIAL, 2003-2023

          3. Table | STEEL & STEEL ALLOY VALVE DEMAND

          4. Table | COPPER-BASED VALVE DEMAND

          5. Table | IRON VALVE DEMAND

          6. Table | PLASTIC & OTHER VALVE DEMAND

      3. 4.3 Historical Market Trends

        $91.00

        1. Table | INDUSTRIAL VALVE MARKET, 2003-2013

        2. CHART III-3 INDUSTRIAL VALVE MARKET, 2004-2013

      4. 4.4 Pricing

        $82.00

        1. Table | INDUSTRIAL VALVE DEFLATORS

        2. CHART III-4 INDUSTRIAL VALVE PRICING, 2003-2023

      5. 4.5 Regulations & Standards

        $233.00

      6. 4.6 Technology

        $83.00

      7. 4.7 World Industrial Valve Market

        $82.00

        1. Table | WORLD VALVE DEMAND BY REGION

      8. 4.8 US Foreign Trade

        $259.00

        1. Table | US FOREIGN TRADE IN INDUSTRIAL VALVES

        2. 4.8.1 Imports

          $125.00

          1. Table | US INDUSTRIAL VALVE IMPORTS BY SOURCE, 2003-2013

          2. CHART III-5 US INDUSTRIAL VALVE IMPORTS BY SOURCE, 2013

        3. 4.8.2 Exports

          $82.00

          1. Table | US INDUSTRIAL VALVE EXPORTS BY DESTINATION, 2003-2013

          2. CHART III-6 US INDUSTRIAL VALVE EXPORTS BY DESTINATION, 2013

    5. 5 STANDARD VALVES

      $2,172.00

      1. 5.1 General

        $111.00

        1. Table | STANDARD VALVE SUPPLY & DEMAND

        2. CHART IV-1 STANDARD VALVE DEMAND BY TYPE, 2003-2023

      2. 5.2 Multiturn Valves

        $513.00

        1. Table | MULTITURN VALVE SUPPLY & DEMAND

        2. 5.2.1 Gate, Globe, &Check Valves

          $235.00

          1. Table | GATE, GLOBE, &CHECK VALVE DEMAND BY MATERIAL

        3. 5.2.2 Pinch & Diaphragm Valves

          $105.00

          1. Table | PINCH & DIAPHRAGM VALVE DEMAND

      3. 5.3 Quarterturn Valves

        $700.00

        1. Table | QUARTERTURN VALVE SUPPLY & DEMAND

        2. CHART IV-2 QUARTERTURN VALVE DEMAND BY TYPE, 2013

        3. 5.3.1 Ball Valves

          $170.00

          1. Table | BALL VALVE DEMAND BY MATERIAL

        4. 5.3.2 Butterfly Valves

          $252.00

          1. Table | BUTTERFLY VALVE DEMAND BY TYPE & MATERIAL

        5. 5.3.3 Plug Valves

          $123.00

          1. Table | PLUG VALVE DEMAND BY MATERIAL

      4. 5.4 Application-Specific Valves

        $458.00

        1. Table | APPLICATION-SPECIFIC VALVE SUPPLY & DEMAND

        2. CHART IV-3 APPLICATION-SPECIFIC VALVE DEMAND BY TYPE, 2013

        3. 5.4.1 Waterworks Valves

          $95.00

          1. Table | WATERWORKS VALVE DEMAND BY TYPE

        4. 5.4.2 Plumbing, Heating, &Cooling Valves

          $113.00

          1. Table | PLUMBING & HEATING VALVE DEMAND BY TYPE

        5. 5.4.3 Nuclear Valves

          $138.00

          1. Table | NUCLEAR VALVE DEMAND BY TYPE

      5. 5.5 Safety & Relief Valves

        $135.00

        1. Table | SAFETY & RELIEF VALVE SUPPLY & DEMAND

      6. 5.6 Other Industrial Valve Products

        $255.00

        1. Table | OTHER INDUSTRIAL VALVE PRODUCT SUPPLY & DEMAND

        2. 5.6.1 Gas Cylinder Valves

          $82.00

        3. 5.6.2 Separately Sold Actuators

          $82.00

        4. 5.6.3 Steam Traps

          $82.00

        5. 5.6.4 Other Standard Valves & Parts

          $82.00

    6. 6 AUTOMATIC VALVES

      $800.00

      1. 6.1 General

        $109.00

        1. Table | AUTOMATIC VALVE SUPPLY & DEMAND

      2. 6.2 Control Valves

        $451.00

        1. Table | CONTROL VALVE SUPPLY & DEMAND

        2. CHART V-1 CONTROL VALVE DEMAND BY TYPE, 2013

        3. 6.2.1 Pneumatic

          $85.00

          1. Table | PNEUMATIC VALVE DEMAND BY TYPE

        4. 6.2.2 Solenoid

          $102.00

          1. Table | SOLENOID VALVE DEMAND BY TYPE

        5. 6.2.3 Electric & Other

          $91.00

          1. Table | ELECTRIC & OTHER VALVE DEMAND BY TYPE

      3. 6.3 Regulator Valves

        $121.00

        1. Table | REGULATOR VALVE SUPPLY & DEMAND

        2. CHART V-2 REGULATOR VALVE DEMAND BY TYPE, 2013

      4. 6.4 Automatic Actuators

        $119.00

        1. Table | AUTOMATIC ACTUATOR SUPPLY & DEMAND

    7. 7 MARKETS

      $1,623.00

      1. 7.1 General

        $147.00

        1. 7.1.1 Demand by Market

          $82.00

          1. Table | INDUSTRIAL VALVE DEMAND BY MARKET

        2. 7.1.2 Demand by Source

          $82.00

          1. Table | INDUSTRIAL VALVE DEMAND BY SOURCE

      2. 7.2 Process Manufacturing

        $586.00

        1. Table | PROCESS MANUFACTURING VALVE DEMAND

        2. CHART VI-1 PROCESS MANUFACTURING VALVE DEMAND BY MARKET, 2013

        3. 7.2.1 Chemicals

          $157.00

          1. Table | CHEMICAL INDUSTRY VALVE DEMAND

        4. 7.2.2 Petroleum Refining

          $92.00

          1. Table | PETROLEUM REFINING VALVE DEMAND

        5. 7.2.3 Pulp & Paper

          $82.00

          1. Table | PULP & PAPER INDUSTRY VALVE DEMAND

        6. 7.2.4 Other

          $135.00

          1. Table | OTHER PROCESS INDUSTRY VALVE DEMAND BY MARKET

      3. 7.3 Utilities

        $451.00

        1. Table | PUBLIC UTILITIES VALVE DEMAND BY MARKET

        2. CHART VI-2 UTILITIES VALVE DEMAND BY MARKET, 2013

        3. 7.3.1 Water & Sewage

          $106.00

          1. Table | WATER & SEWAGE VALVE DEMAND

        4. 7.3.2 Electric Power Generation

          $156.00

          1. Table | ELECTRIC POWER VALVE DEMAND BY MARKET

        5. 7.3.3 Natural Gas

          $82.00

          1. Table | NATURAL GAS UTILITIES VALVE DEMAND

      4. 7.4 Resource Extraction Industries

        $268.00

        1. Table | RESOURCE INDUSTRY VALVE DEMAND BY APPLICATION & SOURCE

        2. 7.4.1 Crude Oil & Natural Gas

          $110.00

          1. Table | CRUDE OIL & NATURAL GAS VALVE DEMAND

        3. 7.4.2 Mining

          $82.00

          1. Table | MINING INDUSTRY VALVE DEMAND

      5. 7.5 Construction

        $82.00

        1. Table | CONSTRUCTION VALVE DEMAND

      6. 7.6 Other

        $105.00

        1. Table | OTHER MARKETS FOR VALVES BY APPLICATION & SOURCE

    8. 8 INDUSTRY STRUCTURE

      $5,233.00

      1. 8.1 General

        $82.00

      2. 8.2 Industry Composition

        $82.00

        1. Table | INDUSTRIAL VALVE SALES BY COMPANY, 2013

      3. 8.3 Market Share

        $226.00

        1. CHART VII-1 INDUSTRIAL VALVE MARKET SHARE, 2013

      4. 8.4 Product Development

        $82.00

      5. 8.5 Manufacturing

        $82.00

      6. 8.6 Marketing & Distribution

        $82.00

      7. 8.7 Cooperative Agreements

        $91.00

        1. Table | SELECTED COOPERATIVE AGREEMENTS

      8. 8.8 Mergers & Acquisitions

        $100.00

        1. Table | SELECTED ACQUISITIONS & DIVESTITURES

      9. 8.9 Company Profiles

        $5,233.00

        1. 8.9.1 Aalberts Industries NV

          $138.00

        2. 8.9.2 Alfa Laval AB

          $152.00

        3. 8.9.3 Aliaxis SA

          $123.00

        4. 8.9.4 American Cast Iron Pipe Company

          $110.00

        5. 8.9.5 Armstrong International Incorporated

          $113.00

        6. 8.9.6 AVK Holding A/S

          $82.00

        7. 8.9.7 Cameron International Corporation

          $285.00

        8. 8.9.8 CIRCOR International Incorporated

          $338.00

        9. 8.9.9 Crane Company

          $260.00

        10. 8.9.10 Curtiss-Wright Corporation

          $260.00

        11. 8.9.11 Danfoss A/S

          $82.00

        12. 8.9.12 Emerson Electric Company

          $295.00

        13. 8.9.13 EnPro Industries Incorporated

          $115.00

        14. 8.9.14 Fischer (Georg) Limited

          $99.00

        15. 8.9.15 Flowserve Corporation

          $150.00

        16. 8.9.16 FMC Technologies Incorporated

          $85.00

        17. 8.9.17 General Electric Company

          $109.00

        18. 8.9.18 Honeywell International Incorporated

          $131.00

        19. 8.9.19 IMI plc

          $169.00

        20. 8.9.20 ITT Corporation

          $121.00

        21. 8.9.21 KITZ Corporation

          $82.00

        22. 8.9.22 KSB AG

          $94.00

        23. 8.9.23 McWane Incorporated

          $116.00

        24. 8.9.24 Metso Corporation

          $118.00

        25. 8.9.25 Mueller Water Products Incorporated

          $150.00

        26. 8.9.26 NIBCO Incorporated

          $92.00

        27. 8.9.27 Parker-Hannifin Corporation

          $422.00

        28. 8.9.28 Pentair plc

          $184.00

        29. 8.9.29 Roper Industries Incorporated

          $128.00

        30. 8.9.30 SPX Corporation

          $132.00

        31. 8.9.31 Swagelok Company

          $98.00

        32. 8.9.32 Velan Incorporated

          $126.00

        33. 8.9.33 Victaulic Company of America

          $90.00

        34. 8.9.34 Watts Water Technologies Incorporated

          $216.00

      10. 8.10 Other Companies Mentioned in Study

        $82.00

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