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2008 Report on China's Valve Market
Market Avenue, Feb 2009, Pages: 89
Chinas valve market has achieved heady growth in recent years due to the favourable national policies and strong demand from downstream sectors. But the growth of the market slowed down in 2008 because of the global economic crisis in 2008, only up by 13.7% year-on-year, to a market size of RMB99.4bn.
Strong demand has attracted large number of foreign and Chinas home-grown market players to the field. There had been 6,300 valve producers in China by the end of 2008, with 2,000 of them each being able to deliver RMB5m annually. But the industrial concentration was low, and the top 20 of the valve producers accounted for only 21.3% of the market. Chinas home-grown producers could only deal with mid- and low-end products due to the lack of high technology. Thus China mainly depends on import to satisfy its top-end demand.
Being the indispensable devices for flow control, valves are extensively used in petroleum, chemical, power generation, pipelines, ship manufacturing, nuclear, low-temperature engineering, astronautic and ocean oil mining sectors. Petroleum and natural gas sector is the biggest consumer of valves, accounting for 37.4% of Chinas total consumption of valves, while energy industry 21.3%, chemical industry 11.5%, and water treatment 11.4%.
There is still plenty of room for Chinas valve industry to grow, with major driving forces as follows:
Chinese government is promoting the manufacturing in the country with favourable policies. As a fundamental sector, valve manufacturing will obtain great support.
Growing in a massive way, Chinas heavy industry will have increasingly stronger demand for valves. For example, with its medium- and large-scale coal-fired projects during Chinas 11th 'Five-Year Plan' period (2006-2010), Chinas power industry will need 153,000 tons of valves altogether, or 30,600 tons every year. The total value of the demand would be RMB3.96bn, or RMB792m annually.
A huge volume of valves are needed for Chinas West-to-East Gas Pipelines, West-to-East Power Lines, and South-to-North Water Transferring System and other large-scale projects under construction or planned.
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