Global industrial values will see a healthy growth rate according to RnR Market Research. Earlier this month the group predicted that the market will grow 5.1% per year through 2017.
Growth will vary by region with increased demand coming from China and India due to investment in water infrastructure and electricity generation grows.
Rising standards of living will boost capacity in process manufacturing in developing regions. Advances in valve demand in the water infrastructure market will result from two key factors: in developing nations, access to water supply and sanitation will be increased; in developed nations, aging water infrastructure will need repair and upgrade.
In other regions continued advances in manufacturing output will provide growth in the process manufacturing market.
Drilling will push demand in the Middle East.
And in the U.S. industrial valves industry demand will benefit from the boom in hydraulic fracturing in the oil and gas market, as well as from the improved economy. Process manufacturing will post strong gains in industrial valve market demand, driven by growing output, especially in the chemical industry. In addition, the need for more efficient manufacturing operations will spur investment in new equipment, benefiting valves.
Demand for automatic valves will outpace conventional valves due to ongoing efforts by process manufacturers to improve operational efficiencies. The strongest gains will be registered in sales of separately sold automatic actuators, which are used together with standard valves to allow for automated valve functions.