Industrial Valves Market Report - Market Research Reports

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Industrial Valves Market Report

Description:

The UK market for industrial valves (including actuators and parts for valves) was valued at £785m in 2000, which represents growth of 3.3% on 1999. Industrial valves are used to control liquids, gases and solids slurries in a wide range of industries. The main markets are food processing, chemical and pharmaceutical production, power generation (especially hydro-electric), oil and gas production, water utilities, mining and shipbuilding. Domestic plumbing valves, aerosol-can valves and pneumatic-tyre valves are not included in this report. Investment in process plant has been poor in recent years, and the industrial valves market, which forms around 12% of total process-plant purchases, has suffered as a result. The strength of sterling has also affected the market, especially where German and US companies are tendering for the same contract as the UK. Imports have risen steadily since 1997, with end users taking advantage of the strong pound. The downturn in the Asian economy has affected the market for valves, with various utility, petrochemical and pharmaceutical projects having been postponed. Investment in the UK oil and gas sector has been at its lowest levels for 20 years. The apparent UK market is forecast to decline by 2.3% in 2001, and to begin to pick up again in 2003. Overall growth of 5.1% is projected between 2001 and 2005. Import levels are expected to fall back as sterling values decline, while the export market is projected to grow after 2002, as the Asian countries reinvest in delayed projects.

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